United States electric bus market is expected to grow at a CAGR of around 20% and is projected to reach around $ 2000 million by 2024 during the forecast period. Rapid urbanization, rising levels of pollution, global warming, depletion of fossil fuels, and increasing cost of fuels, are some of the major factors driving the United States electric bus market. Additionally, the government of the country is taking initiatives to increase the sales of these electric buses by providing several incentives, such as tax rebates, subsidies, among others. For instance, the Federal Transit Administration (FTA) offers several grant programs, many of which have been used to purchase electric buses and is expected to give a healthy push to the market. However, the high cost of these electric buses as compared to the conventional diesel and CNG buses might hamper the growth of the US electric bus market in the coming years.
The United States electric bus market is segmented based on seating type, battery type, application, bus length, region and company. Based on seating type, the market can be segmented into up to 30-seater, 31-40-seater and above 40. The up to 30-seater seater segment is expected to hold significant market share during the forecast period on account of easy boarding, even with a stroller or wheelchair. Additionally, it can easily store a large volume of luggage. Based on battery type, the market can be bifurcated into lead acid and lithium ion. Lithium ion battery is expected to dominate the market owing to its excellent thermal stability, long lifespan, and faster charging time.
The major players operating in the electric bus market Proterra Inc., BYD Motors Inc., NFI Group Inc., GreenPower Motor Company Inc., Gillig LLC, Blue Bird Corporation, Nova Bus Corporation and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2014–2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyze and forecast the market size of United
States electric bus market.
- To classify and forecast United States electric
bus market based on seating capacity, battery type, application, bus
length, company and regional distribution.
- To identify drivers and challenges for United
States electric bus market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in United
States electric bus market.
- To conduct pricing analysis for United States electric
bus market.
- To identify and analyze the profile of leading
players operating in United States electric bus market.
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TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of manufacturers across the country. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the manufacturers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the manufacturers, distribution channels and presence of all
major players across the country.
TechSci Research calculated the market size of United States electric bus market by using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Electric bus manufacturers
and suppliers
- Market research and
consulting firms
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to electric bus
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as manufacturers, suppliers and partners, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, United States electric
bus market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- Market, By Seating Capacity:
- Up to 30-Seater
- 31-40-Seater
- Above 40
- Market, By Battery Type:
- Market, By Application:
- Intercity
- Intracity
- Airport
Bus
- Regions:
- West
- Northeast
- Midwest
- South
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in United States electric bus market.
Available
Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
It is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at sales@techsciresearch.com