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.