The Asia-Pacific electric bus market is projected to grow at an exponential CAGR during the forecast period. The factors that propel the growth of the market include increasing government subsidies and growing concern about alarming air pollution levels. In November 2019, BYD Auto announced a partnership with ETO motors to assemble the vehicle and enter the electric cargo vehicles (bus) sector in India. With this partnership, ETO and BYD are aimed at developing electric cargo three and four wheelers for the Indian market.
A full report of Asia-Pacific Electric Bus Market is available at: https://www.omrglobal.com/industry-reports/asia-pacific-electric-bus-market
As per the report of the Government of India, for the adoption of EV in India, a quantum of finance is required. Between 2020 to 2023, across vehicles, electric vehicles, and batteries, a total capital cost of $866 billion will be required. The evaluated annual finance for electric vehicles will be $50 billion in 2030. Apart from it, the demand for the passenger car is increasing in China as the China Government provides a subsidiary of $7,165 per vehicle. In February 2021, Tata Motors partnered with the Department of New & Renewable Energy (DNRE) to position Tigor Electric vehicles in Goa. Tigor EVs are available in a range of 140 km & 213 km in the fleet category and Nexon EV in the personal segment with a range of 312km.
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Market Coverage
- Market Numbers Available for– 2018-2025
- Base Year- 2018
- Forecast Period- 2019-2025
- Segment Covered- By Bus Type, By Battery Type, By End-User
- Region Covered- Asia-Pacific
- Competitive Landscape- BYD Co. Ltd., Proterra Inc., AB Volvo, Ashok Leyland Ltd., Deccan Auto Ltd., and Goldstone Infratech Ltd.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Electric Bus Market Report Segment
By Bus Type
- Hybrid Electric Bus
- Fuel Cell Electric Bus
- Battery Electric Bus
By Battery Type
- Li-ion
- NiMH
- Others
By End-User
- Government
- Fleet Owner
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