The "Electric Bus Market by Propulsion (BEV, PHEV & FCEV), Application (Intercity & Intra-city), Consumer Segment (Fleet Operators & Government), Range, Length of Bus, Power Output, Battery Capacity, Component, Battery type & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
Research and Markets: World Electric Bus (BEV, PHEV & FCEV) Market Report 2021-2027: New Revenue Pockets in Asia-Pacific and Northern Europe - ResearchAndMarkets.com
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The global electric bus market size is projected to grow from 81 thousand units in 2021 to reach 704 thousand units by 2027, at a CAGR of 43.1%.
The advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric bus and coach market. Many countries are focusing on the electrification of their mass transit solutions, especially buses and coaches.
Factors such as rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly buses.
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The global electric commercial vehicle market is projected to grow from 129 thousand units in 2020 to reach 2,026 thousand units by 2028, at a CAGR of 41.1%.
The advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric commercial vehicle industry. Many countries are focusing on the electrification of their public transportation fleets. Factors such as a rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly vehicles. Increasing demand for fuel efficient and zero emission vehicles in the logistics sector is also driving the market.