North American electric bus market is estimated to grow at an exponential CAGR during the forecast period. The rising acceptance of the electric buses owing to the growing environmental concerns along with the available federal and private funding are the key factors to propel the growth of the electric buses market in North America. In 2018, the Foothill Transit ordered its first double decker electric bus based on drivetrain technology from Alexander Dennisto run on the streets of the Californian city. Further, in 2019, the Low or No Emission Grant program awarded grants of nearly $85 million to over 50 state and local governments to promote the adoption of electric buses which in turn will drive the regional growth of the market.
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The market is segmented on the basis of bus type, battery type, end-user, and country. Based on bus type, the market is sub-segmented into 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. Based on end-user, the market is sub-segmented into government and fleet owner. The government is anticipated to hold considerable share based on end-user owing to its active involvement in purchase of electric buses to reduce the level of greenhouse gases. Based on the country, the market is segmented into the US and Canada.
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North American 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
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
