Forecast for Global Electric Bus Market
by Rajat Gupta Renub Research is a Market Research and Consulting
In order to curb pollution and carbon
emission, an efficient zero tailpipe emission is required. Gasoline powered
buses cause poor air quality, electric buses are a great way to curb global
pollution problem. Though, electric buses are more expensive than its diesel
counterparts as these vehicles are powered by lithium-ion batteries which are
costly. But now days with rising global warming concern, governments across the
nations have introduced several programs in the procurement of electric buses
to encourage its mass adoption. With increasing awareness about the benefit of
using electric buses as public mode of transport coupled with local battery
manufacturing and exclusive financing models certainly helping Global Electric Bus Market to grow robustly over the forecast period. Global Electric
Bus Market is expected to cross USD 400 Billion landmark
by the year 2024.
Electric bus needs
infrastructure, safety regulations and an entirely different ecosystem. Today,
countries around the world are making significant effort in developing each of
these areas such as addressal of the charging infrastructure. For electric buses,
it’s not possible to charge its battery one time and then run it all day long.
Thus, ‘Top-Up Charging’ is required that is electric bus starts off in the
morning with decent range and uses multiple short, turbo charging throughout
the day, thus maintaining its daily limit of 200-250Km. The short,
turbo charging station can be setup in small area of 1 meter x 1 meter and can
be installed en-route and on the convenient locations.
than ‘Top-Up Charging’ method ‘Battery Swapping’ is another way of charging
where the exhausted battery is replaced by the charged ones at the charging
stations. The electric bus stops at the charging stations to get the charged
battery while the exhausted battery is taken out for charging. Battery Swapping
requires more area than that of the short charging, turbo charging stations as
Battery Swapping requires warehouse to keep the batteries and also requires
automated machines to lift these heavy batteries. According to Renub Research
Vehicle Battery Market will surpass US$ 65 Billion by the end of year 2024.
Around the world, governments are
making their efforts in bringing more and more electric buses on the road, but
still the usage of electric buses are very limited. Electric buses high cost
and lack of required infrastructure are among the major challenges for the
electric bus market. Also, delays caused because of the en-route charging or
swapping of batteries, increases operations cost of transit service provider.
Thus, until the battery technology develops to such a point where a bus can
comfortably runs 200-300Km on a
single charge, it is believed that this technology is unlikely to be adopted
broadly in the public transportation system.
bus is the core of a modern public transit system across the world. The safe,
sustainable, smart and comfortable public transportation is the solution for
addressing the challenges of pollution and congestion, which most the cities
face today. This safe and comfortable ride by electric bus certainly encourage
people to leave their bikes and cars at home, also help in making the
surrounding greener. Electric bus could certainly change the way people commute
and the quality of air that they will breathe in the near future.
Created on Jan 30th 2019 01:04. Viewed 149 times.