Asia-Pacific Electric Bus Market is Anticipated to grow at a Significant Pace i.e., USD 48.6 Billion during the Forecast Period 2021-2027

Published Date: Dec, 2021

The Asia-Pacific electric bus market is anticipated to grow at a significant rate i.e., 9.8% CAGR during the projected period 2021-2027 owing to the rising pollution levels in various regions, resulting in introducing favorable plans by the government in the form of tax subsidies and other reliefs and motivate automotive manufacturers to produce electric buses. Furthermore, electric buses have various developed features which make electric buses a preferred means of transport for customers in the Asia-Pacific region. There is an increased number of people who possess cars and two-wheelers, resulting in increased air pollution levels and leading to traffic congestion on roads. Thus, there is a need to have clean mobility and alternative transportation solutions like electric buses, resulting in the growth of the electric bus market in the APAC region.

The COVID-19 crisis has negatively impacted Micro, Small, and Medium-Sized Enterprises (MSMEs) that account for major economic activity and employment in the APAC region. Owing to the rising COVID-19 cases in China, there was a stoppage of raw material and electronic component supply from China, resulting in an adverse impact on the electric bus market. However, the market has started gaining momentum and will see an upward trend in Asia-Pacific electric bus market during the forecast period.  

Browse 109 market data Tables and 66 Figures spread through 255 Pages and in-depth TOC on " Asia-Pacific Electric Bus Market by Vehicle Type (Battery-Electric Buses, PHEV Buses, and FCEV Buses), by Length Type (Less Than 9m, Between 9m-14m, and Above 14m), by Seating Capacity (Below 40 Seats, 40-70 Seats, and Above 70 Seats), by Application (Intracity and Intercity), by Battery Capacity (Below 100 kWh, 100-300 kWh, and Above 300 kWh), by Battery (Lithium Iron Phosphate Battery, Lithium Nickel Manganese Cobalt Oxide, and Others), by End-User (Government and Fleet Owners), and Region - Asia-Pacific Forecast to 2027"

By vehicle type, the FCEV segment is projected to witness significant growth during the forecast period.

Based on vehicle type, the Asia-Pacific electric bus market is divided into battery-electric buses, PHEV buses, and FCEV buses. FCEV buses is projected to have significant growth due to easy technical maintenance and reduced operational cost. This is due to the development of hydrogen cells that increase the fuel cell capacity. The increasing R&D activities in hydrogen fuel cell will accelerate the growth of FCEV buses owing to the benefits of hydrogen fuel cells like nearly zero-emission, improved efficiency, and renewability, thus an apt choice for zero-emission mobility initiatives.

Asia-Pacific Electric Bus Market Segmentation Analysis

Segment

Categorization

Leading Category

Vehicle Type

Battery-Electric Buses, PHEV Buses, and FCEV Buses

FCEV Buses

(Significant Growth)

Length Type

Less Than 9m, Between 9m-14m, and Above 14m

9m-14m (Largest)

Seating Capacity

Below 40 Seats, 40-70 Seats, and Above 70 Seats

Below 40 Seats (Largest)

Application

Intracity and Intercity

Intracity

 (Significant Growth)

Battery Capacity

Below 100 kWh, 100-300 kWh, and Above 300 kWh

100-300 kWh

(Notable Growth)

Battery

 

Lithium Iron Phosphate Battery, Lithium Nickel Manganese Cobalt Oxide, and Others

Lithium Iron Phosphate Battery (Largest)

End-User

Government and Fleet Owners

Government (Significant growth)

Region

China, Japan, India, South Korea, Singapore, and Rest of Asia Pacific

China (Largest)

 

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“China to hold the largest regional market share during 2021-2027.”

China is projected to remain dominant in the Asia-Pacific electric bus market during the forecast period owing to clean transportation, increasing population, rising demand for efficient energy, and reducing the use of fossil fuels, which will accelerate the growth in the region.

Some of the major players in the Asia-Pacific electric bus market include BYD Company Ltd., Tata Motors, Zhongtong Bus Holding Co. Ltd, King Long United Automotive Co. Limited, Anhui Ankai Automobile Co. Ltd., ASHOK LEYLAND, Deccan Auto Ltd., Olectra Greentech Limited., YUTONG, and Shanghai Shenlong Bus Co., Ltd.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Vehicle Type, Length Type, Seating Capacity, Application, Battery Capacity, Battery, End-User, and Region

Geographies Covered in the Study

China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

Companies Covered in the Study

BYD Company Ltd., Tata Motors, Zhongtong Bus Holding Co. Ltd, King Long United Automotive Co. Limited, Anhui Ankai Automobile Co. Ltd., ASHOK LEYLAND, Deccan Auto Ltd., Olectra Greentech Limited., YUTONG, and Shanghai Shenlong Bus Co., Ltd.

Asia-Pacific Electric Bus Market Coverage

Vehicle Type Insight and Forecast 2015-2027

  • Battery-Electric Buses
  • PHEV Buses
  • FCEV Buses

Length Type Insight and Forecast 2015-2027

  • Less Than 9m
  • Between 9m-14m
  • Above 14m

Seating Capacity Insight and Forecast 2015-2027

  • Below 40 Seats
  • 40-70 Seats
  • Above 70 Seats

Application Insight and Forecast 2015-2027

  • Intracity
  • Intercity

Battery Capacity Insight and Forecast 2015-2027

  • Below 100 kWh
  • 100-300 kWh
  • Above 300 kWh

Battery Insight and Forecast 2015-2027

  • Lithium Iron Phosphate Battery
  • Lithium Nickel Manganese Cobalt Oxide
  • Others

End-User Insight and Forecast 2015-2027

  • Government
  • Fleet Owners

Geographical Segmentation

Asia-Pacific Electric Bus Market by Region

  • By Vehicle Type
  • By Length Type
  • By Seating Capacity
  • By Application
  • By Battery Capacity
  • By Battery
  • By End-User
  • By Country – China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

 

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Asia-Pacific Electric Bus Market is Anticipated to grow at a Significant Pace i.e., USD 48.6 Billion during the Forecast Period 2021-2027