South Korea is expected to grow at a significant rate in Asia-Pacific during the 2020 to 2027 period
Asia-Pacific, as per a report by Research and Markets, dominates the market at present, followed by Europe, North America, and LAMEA. In the Asia-Pacific region, China dominated the global E-bus market in 2019, whereas South Korea is expected to grow at a significant rate in Asia-Pacific during the forecast period.
“Electric buses are driven by an electric motor that is powered with the help of on-board batteries. As these buses run completely on battery itself, they require re-charging once drained, unlike refueling in case of ICE buses. E-buses are extremely efficient over ICE buses in terms of power delivery, torque, maintenance as well as are pollution free. Therefore, electric buses are considered as the future of the public transport systems,” read the report.
The Department of Heavy Industry (DHI) under the Ministry of Heavy Industry and Public Enterprises In India, had granted approval for 5,595 electric buses. These are to be deployed in 64 cities under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) program.
Segmented basis different types
The global e-bus market is segmented based on propulsion type, length, range, battery capacity, power output, and region. By propulsion type, the market is segmented into BEV, FCEV, and PHEV.
Further, based on length, the market is segmented into less than 9 meters, 9-14 meters, and above 14 M. Based on range, the market is bifurcated into less than 200, and more than 200. Moreover, the market is segmented based on battery capacity into up to 400 kWh, and above 400 kWh.
By power output, the market is split into up to 250kW and above 250 kW. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA) including country-level analysis for each region.
