The electric bus market is expected to grow substantially in the forecast period of 2022-2027 in which the market will grow at more than 25% CAGR in volume or unit terms. The growth in the electric bus market will be backed by rapid urbanization, rising oil prices, rising air pollution, government initiatives, and lower battery prices. The electric bus market is also being driven by increased demand for fuel-efficient, high-performance, and low-emission buses, strict government emission norms, and lower battery prices.

However, despite the many potential opportunities, the electric bus market faces certain challenges. High development costs, limited battery capacity, and the growing popularity of natural gas-powered buses, are expected to limit the market growth, according to the findings of Azoth Analytics.

There is also a global lack of proper charging infrastructure for Electric Bus owners, which has impacted demand and sales. The companies have an opportunity of amplifying the focus on the innovative development of charging stations and Electric Bus infrastructure. For instance, Shell and BYD entered into a strategic alliance to boost and aid the charging experience for the BEV and PHEC customers of BYD. Consequently, Shell will offer the membership access to ~275,000 charging points through Shell roaming network.

The Azoth Analytics research report titled ‘Global Electric Bus Market (Value, Volume) (2022 Edition)’ has analyzed and segmented the Electric Bus Market by Value (USD Million) and by Volume (Units). The report has also further analyzed the Electric Bus Market by Propulsion Type (Battery Electric Bus, Hybrid Electric Bus, Fuel Cell Electric Bus, Others) and by Consumer (Government, Fleet Operator). The Global Electric Bus Market have been analyzed By Region (America, Europe, Asia Pacific, Middle East, and Africa) and By Country (United States, Canada, Germany, United Kingdom, France, Norway, China, Japan, India, South Korea) for the historical period of 2017-2021 and the forecast period of 2022-2027. The companies profiled in the report include BYD, Forsee Power, CAF, VDL Groep, AB Volvo, NFI Group, Daimler AG, Scania AB, Proterra, Xiamen King Long.

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https://www.azothanalytics.com/report/automotive-and-transportation/global-electric-bus-market-value-volume-analysis-by-propulsion-type-battery-hybrid-fuel-cell-consumer-by-region-by-country-2022-edition-covid-19-implications-competition-and-forecast-2022-2027

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