Goldstein Research report forecast that Electric & Hybrid Bus Market is expected to grow at a CAGR of 25.3% through 2024 to reach 40,067 by 2024
According to the Goldstein Research report “Electric & Hybrid Bus Market Outlook 2024”,the Electric & Hybrid Bus Market is estimated to reach 40,067 units by 2024, Growing at a CAGR of 25.3% through 2024.
The rising concern related to the greenhouse gas emission and long-term cost assistance provided by the electric bus is alluring transit agencies to adopt electric and hybrid buses. Air pollution is one of the leading causes of death in numerous countries, according to a report by the World Health Organization (WHO). Based on geography, Asia Pacific dominated the global electric and hybrid bus market with a market share of 51.2% in 2017 owing to an increase in urbanization and rising population. Countries such as China and India have a global market share of 22.0% with more than 80,000 units being acquired.
Report is available at:- https://bit.ly/2Jd4Rem
Market dynamic / Drivers & Restraints to Market Growth
According to the report, the major driving factor for electric and hybrid bus market is the increasing number of venture funding in the global electric and hybrid bus market. Though this market is still in its budding phase and requires more technical development for its increased adoption. Many players are investing almost USD 30 million to USD 120 million in the global electric and hybrid bus market. Further, the report states the major challenge is the long charging, it takes around ten hours to charge a normal 15kWh battery in a standard 120-volt outlet. Another major challenge in the global electric and hybrid bus market the cost of the batteries fitted in the buses.
Major players covered in this electric & hybrid bus market report are:
- Zhengzhou Yutong Group Co. Ltd.
- Shenzhen Wuzhoulong Motors Co. Ltd.
- Daimler AG, BYD Company Limited
- King Long United Automotive Industry Co. Ltd.
- New Flyer Industries Inc.
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Further, Electric & Hybrid Bus Market Report encompasses the major trends & opportunities, market dynamics and other growth factors of the market. The Electric & Hybrid Bus Market outlook also comprises of key challenges, risk analysis, BPS analysis, SWOT Analysis and Market Attractiveness. The report also highlights the expert analysis to provide a complete overview of the market including the PESTLE analysis of each region and country.
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