Norway electric bus market is estimated to grow at a considerable CAGR during the forecast period. The rising adoption of electric vehicles owing to the growing environmental concerns along with cohesive government initiatives are some of the major aspects to propel the adoption of electric buses in the country, thereby fueling the growth of Norway electric bus market. In 2016, the government of Norway had declared a target of achieving 100% EV share of purchases of urban buses by 2025, which includes the target of 75% EV share of purchases of long-distance buses and 50% in trucks by 2030. For fulfillment of this goal, the government of the country offers several benefits to the drivers of electric buses such as no road tax,reduced road and ferry tolls, and free battery charging at publicly funded charging stations.
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The market is segmented on the basis of bus type, battery type, and end-user. Based on the bus type, the market is sub-segmented into the hybrid electric bus, fuel cell electric bus, and battery-electric bus. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries. Based on end-user, the market is sub-segmented into government and fleet owners.
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Norway Electric Bus Market Segmentation
By Bus Type
- Hybrid Electric Bus
- Fuel Cell Electric Bus
- Battery Electric Bus
By Battery Type
- Lithium-ion batteries
- NiMH Batteries
- Others
By End-User
- Government
- Fleet Owner
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