US Electric Bus Market to Witness Robust Growth through 2024by Anamika Singhal SEO - Executive (Automotive)
Rising environmental concerns coupled with increasing government investments in fuel saving technologies to propel United States electric bus market through 2024
According to TechSci Research report, “United States Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024”, the US electric bus market is projected to register a CAGR of around 20% during the forecast period owing to the increasing fuel prices. It is estimated that world has just over 50 years of oil left if it is consumed in the same manner as it is today. Therefore, a large economy like US is increasingly shifting its focus towards alternative energy sources, thus driving growth in the electric bus market. Moreover, other factors such as high fuel efficiency, higher ROI, and noise efficiency in comparison to conventional buses are further contributing to the demand for electric buses in the country. However, the United States electric bus market is likely to face stiff challenges in the coming years on account of factors like less range and higher procurement cost of electric buses.
Browse market data Tables and Figures spread through 70 Pages and an in-depth TOC on "United States Electric Bus Market"
The United States electric bus market is segmented based on seating type, battery type, application, bus length, region and company. In terms of seating type, the market can be categorized into up to 30-seater, 31-40-seater and above 40. The up to 30-seater segment is expected to hold the largest market share during the forecast period owing to its compact body, which gives it the agility to maneuver through the city traffic. Based on bus length, the market can be segmented into 6-8m, 9-12m and above 12m. The 9-12cm length segment is anticipated to register the highest CAGR during the forecast period owing to their higher suitability for transit bus service.
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Proterra Inc., BYD Motors Inc., NFI Group Inc., GreenPower Motor Company Inc., Gillig LLC, Blue Bird Corporation, and Nova Bus Corporation are some of the leading players operating in United States electric bus market. “United States electric bus market is one of the most dynamic and fastest growing markets owing to growing support of the US federal and local governments for electric buses. Moreover, enactment of stringent emission norms along with declining battery prices is further expected to propel US electric bus market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of United States electric bus market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in United States electric bus market.
Global Electric & Hybrid Electric Buses Market, 2011-2021: https://www.techsciresearch.com/report/global-electric-hybrid-electric-buses-market-by-vehicle-type-light-duty-electric-and-hybrid-electric-bus-and-heavy-duty-electric-and-hybrid-electric-bus-by-technology-competition-forecast-and-opportunities-2011-2021/590.html
India Electric Bus Market, FY2017-FY2023: https://www.techsciresearch.com/report/india-electric-bus-market/2299.html
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Created on Aug 23rd 2019 04:05. Viewed 298 times.