Lithium Ion Batteries to Dominate Singapore Electric Bus Market
Rising environmental concerns and supporting government
policies are expected to drive growth of Singapore Electric Bus market
According to TechSci Research report, “Singapore
Electric Bus Market By Seating Capacity, By Battery Type, By Application, By
Bus Length, Competition, Forecast & Opportunities, 2024”, Singapore electric bus market is expected to grow at a steady
rate during the forecast period owing to the supportive government initiatives and
mounting alarm about rising environmental pollution. Additionally, higher
fuel efficiency, noise mitigation, thermal stability, less traffic, less
maintenance cost, among others are some of the factors supporting the growth of
electric bus market in the country. However, the battery and charging infrastructure issues
are likely to pose a challenge in the coming years.
Browse market
data Tables and Figures spread through 70 Pages and an in-depth TOC on "Singapore
Electric Bus Market"
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Singapore electric bus market is
segmented based on seating
type, battery type, application and bus length. Based on battery type, the market has been bifurcated
into lead acid and lithium ion. Lithium ion battery segment dominates the
market on account of their higher safety, reliability, easy availability and
low cost. Additionally, Li-ion batteries offer higher energy density, columbic
energy and specific energy compared to lead acid batteries. Based on bus
length, the market can be categorized into 6-8m, 9-12m and above 12m segments.
The 6-8m length electric bus segment is expected to register the highest CAGR
during the forecast period owing to the segment being the preferred choice
among diverse consumer segments.
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BYD
(Singapore) Pte. Ltd., ST Engineering Land Systems, Volvo and Ebus are few
of the leading players operating in Singapore electric bus market. “Singapore
is one of the emerging electric bus markets in the Asia-Pacific region and is
expected to create huge opportunities for electric bus companies in the coming
years. Additionally, exponential
increase in demand for electric buses in Singapore is backed by the fact that
government provides subsidies and tax benefits to electric bus manufacturers,
and also is taking policy initiatives to boost their adoption among users.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Singapore Electric Bus Market By Seating Capacity, By
Battery Type, By Application, By Bus Length, Forecast & Opportunities, 2024” has evaluated the
future growth potential of Singapore electric bus market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in Singapore electric
bus market.
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