Report Description

ALBANY, New York, April 21, 2015 : The featured report on Market Research Reports Search Engine (MRRSE) “Electric Buses 2015-2025” elaborates on the key trends of the global electric buses market along with valuable statistical anecdotes. The global electric buses market is expected to grow at a strong double-digit CAGR during the forecast period.

According to the technology experts in the automotive and transportation industries, rapid innovation along with growing demand for green technologies in the coming decade will fuel the growth of the global electric buses market.

Another strong growth driver for the global electric buses market is the high demand for electric buses from China. Though the concept of electric buses is relatively new, it is displaying robust growth in China, especially in cities such as Shenzhen and Xi’an. Currently, China is also the key manufacturing hub for electric buses, with prominent vendors such as Zhongtong and BYD operating in this market. The strong demand for electric buses from China in combination with the consistent local supply chain is leading to wide adoption of these vehicles in China.


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Scope

The electric buses and vehicle sales in mainland China surged exponentially in the first ten months of 2014, according to a recent report published in the South China Morning Post. The technological roadmap of China shows rapid innovation in the next decade, which will encourage authorities in cities such as Beijing, Tianjin, and Hebei to force bus-operators to adopt pollution free alternatives of public transport. This in turn will augment the demand for pure electric buses not just in China but in the global scenario. In 2014, almost 20,000 new energy buses were added to the public transport fleet in cities like Tianjin, Hebei, and Beijing. Industry experts foresee tremendous potential for electric buses in China. Increased demand for electric buses has induced leading manufacturers in the industry to upgrade their manufacturing systems.

Market Participants

Ankai also signed a contract with Beijing Public Transportation Group to supply its pure electric bus to the city’s public transport system. In addition, JAC Automobile Group has partnered with Kunming Municipal Government to develop new hybrid buses in Kunming.

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