Electric Bus Market worth 704 thousand units by 2027 - Exclusive Report by MarketsandMarkets 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 , published by MarketsandMarkets, 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 growth of the Electric Bus Market can be attributed to the increasing focus of countries on electrification of their public transport fleets with subsidies and favorable regulations due to emission concerns. Advancements in battery pack technologies, declining battery prices, government support, huge subsidies along with tax exemptions, and innovations in electric powertrains are some of the major factors driving the growth of the electric bus and coach industry.
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Click the thumbs up >The lack of an effective national strategy for creating kerbside charging infrastructure is emerging as the biggest barrier to adoption of electric vehicles (EVs) by businesses, says the Association of Fleet Operators (AFP).
The current Government approach to install kerbside charging means that 75% of the cost is met by a national fund and 25% paid by local authorities. AFP chair Paul Hollick believes the strategy is not working.
He said: “We have national fleets who are AFP members and want to go 100% EV as soon as possible. The stumbling block they face is that nationally, around four out of 10 people live in apartments or terraced houses and don’t have access to on-street parking.
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