According to Report and Data’s latest market analysis, the global Electric Bus market is expected to reach the global electric bus market, particularly driven by the rising popularity of hydrogen fuel cell buses. These buses offer zero emissions and contribute to a clean and environmentally friendly transportation option. The conversion of hydrogen’s chemical energy into electricity, with water vapor as the only byproduct, further supports their appeal.
Additionally, hydrogen-powered equipment, including buses, can operate for longer periods and require less frequent recharging due to their high energy density. This characteristic enhances their suitability for various applications. An example of this market trend is Sentient Labs’ introduction of India’s first indigenously conceived and manufactured hydrogen fuel cell bus, which features central air conditioning and a range of 450 kilometers using 30 kg of hydrogen.
Government initiatives aimed at promoting e-mobility also play a significant role in driving market revenue growth. For instance, Union Minister Nitin Gadkari introduced the Toyota Mirai, a green hydrogen-based advanced Fuel Cell Electric Vehicle (FCEV) in India. This effort aims to create an ecosystem for such vehicles and tap into the potential of green hydrogen, which is crucial for ensuring affordable energy and supporting long-distance travel and high-frequency operations.
Overall, the increasing demand for hydrogen fuel cell buses, along with government support for e-mobility initiatives, is expected to propel the global electric bus market’s revenue growth in the forecast period.
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Electric buses, powered by electric motors and batteries, offer significant advantages in terms of emissions reduction compared to vehicles with internal combustion engines and fuel tanks. By running on electricity, electric buses produce zero emissions at the tailpipe, thereby eliminating harmful pollutants like particulate matter, nitrogen oxides, and carbon monoxide that can have detrimental effects on human health and the environment. This environmental benefit is a key driver of market revenue growth in the electric bus industry.
Furthermore, electric buses contribute to a cleaner and healthier environment by reducing pollution levels. They are not only emission-free but also help in mitigating noise pollution as they operate quietly. These environmental friendliness aspects of electric buses contribute to their appeal and further drive market revenue growth.
Another significant advantage of electric buses is their cost-effectiveness in terms of operation and maintenance. Electric buses are more efficient compared to diesel buses, leading to reduced operating expenses. With lower reliance on fossil fuels, electric buses can provide cost savings in the long run, making them an attractive option for fleet operators and governments. The potential cost savings associated with electric buses contribute to the market’s revenue growth as well.
Overall, the combination of lower emissions, reduced operating expenses, and environmental friendliness positions electric buses as a compelling choice for the transportation industry, driving market revenue growth in this sector.
Propulsion Type Outlook (Revenue, USD Billion; 2019-2032)
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Fuel Cell Electric Vehicle (FCEV)
Range Outlook (Revenue, USD Billion; 2019-2032)
- Less than 200 Miles
- More than 200 Miles
Battery Capacity Outlook (Revenue, USD Billion; 2019-2032)
- Up to 400 kWh
- Above 400 kWh
Outlook (Revenue, USD Billion; 2019-2032)
Outlook (Revenue, USD Billion; 2019-2032)
- Up to 40 Seats
- 40-70 Seats
- Above 70 Seats
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Regional Markets Highlighted in the Global Electric Bus Market Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Top Companies Profiled in the Report:
AB Volvo, Proterra, MAN, Nissan Motor Co., Ltd, Ashok Leyland, Mercedes-Benz Group AG, YUTONG, Tata Motors, CAF, Construcciones y Auxiliar de Ferrocarriles S.A., Anhui Ankai Automobile Co. Ltd.
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