Pune, India, Sept. 16, 2021 (GLOBE NEWSWIRE) --
The global electric bus market size is estimated to witness exponential growth during the forecast period, as many developed as well as developing countries are facing grave pollution issues, resulting in an alarming rise in the number of people being diagnosed with respiratory disorders. Some of the important trends driving the industry outlook are mentioned below:
COVID-19 impact on Asia Pacific market:
Asia Pacific electric bus market will be valued at over $49 billion by 2027. With travel restrictions and lockdowns being imposed by governments across the region due to the rapid spread of COVID-19 virus, the pandemic had a serious impact on the production of electric buses. Manufacturing plants in APAC region had to be temporarily cut down as they faced a severe shortage of raw materials and manpower. The supply chain activities of factories manufacturing electric buses faced several disruptions, which further hindered their sale in the region.
However, with COVID-19 cases seeing a gradual drop every day, the industry is expected to pick up pace in the future. Many factories and manufacturing plants have restarted their operations and are catering to the rising demand for automobiles.
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Buses with 100kWh – 300kWh capacity gain momentum in Asia Pacific:
Batteries with different capacities are used in a wide range of vehicles. The 100kWh - 300kWh battery capacity will grow at a steady rate. Batteries of this capacity are majorly used to cover distances of 60 to 80 miles. Electric buses powered by these batteries find major use across colleges, universities, public transport systems, and tourism sector.
Fuel Cell Electric Vehicle (FCEV) buses in APAC region use hydrogen cells:
Fuel Cell Electric Vehicle or FCEV buses are much easier to maintain as compared to the other EVs and incur lower operating costs. Another reason why these vehicles are gaining popularity across Asia Pacific is because they use hydrogen cells. These cells showcase great battery performance and have high fuel cell capacity, thereby reducing operational costs to a great extent.
Some major research and development activities are underway on the hydrogen fuel used in FCEV buses in APAC region. It has many advantages to offer like improved efficiency, almost zero-emissions, and renewability. Regional governments are encouraging the use of this fuel after knowing its environmental benefits.
Europe increases adoption of advanced automotive technologies:
Europe is among the world leaders of automotive innovations. The region has consistently showcased a strong presence of some of the best automotive brands in the world. The regional automotive sector is continuously innovating its technologies and with the rise in environmental concerns, it is adopting cleaner and more efficient techniques in its vehicle production.
Electric buses in Europe have ADAS system installed in them that makes it easier for drivers to gain control in events of potential hazards. The aim of the EU in February 2019 to make at least 25% of the regional buses electric will enhance the market scope.
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40-70-seater electric buses for intercity transportation of European passengers:
Electric buses having the capacity of 40-70 seats will gain traction across Europe. These buses will be mainly used for transporting intercity passengers. Intercity electric buses are gaining support from both the public authorities and private organizations through their rising investments. These buses have great luggage-carrying capacity and there are many advanced technologies used that will enhance their performance and efficiency. These factors will help the total Europe electric bus market size reach a projected valuation of more than $4 billion by 2027.
Government initiatives boost electric bus adoption in North America:
Governments across North America are showing their support for electric buses through various initiatives and schemes. The regional electric bus market share could reach a valuation of $850 million by 2027. One of the main aims of the regional authorities is to reduce the overall emission levels in its automotive sector. The transport departments of countries like the US and Canada are increasing their investments in electric buses and are taking important steps to set up adequate charging infrastructure.
In June 2021, for example, the Federal Transit Administration (FTA) of the US Department of Transportation distributed grants worth $182 million to 49 electric bus projects being undertaken in 46 states. The FTA has launched the Low-No program that helps transport companies buy or lease hydrogen-fueled or electric buses.
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All-electric buses in North America showcase strong progress:
Growing focus of governments across North America towards developing high-end charging infrastructure for electric vehicles will boost the production of all-electric buses in the region. These buses are gaining momentum in their demand as the regional authorities want to drastically reduce their emission rates and carbon footprint. In March 2021, the US government announced that it was planning to invest nearly $174 billion to replace around 50,000 diesel transit buses with zero-emission ones. This was a part of the government’s American Jobs Plan, and it aims to turn at least 20% of its yellow school bus fleet electric as part of its Clean Buses for Kids Program at the Environmental Protection Agency.
Electric buses with 70+ seats become popular across North America:
70+ seater electric buses will be used by the North American public transport authorities because they have larger seating capacity and spacious interiors. They are used for both intercity and intracity travels and have high luggage-carrying capacity along with an expansive floor design. They are great for long distance travels as they have comfortable seats and wide-angle view for passengers to enjoy their traveling experience.
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