Vietnam Electric Bus Market to Grow at Steady CAGR During the Forecast Period
Rapid economic growth along with increasing disposable income
to drive Vietnam electric bus market through 2024
According
to TechSci Research report, “Vietnam
Electric Bus Market By Seating Capacity, By Battery Type, By Application,
By Bus Length, Competition, Forecast & Opportunities, 2024”, Vietnam electric bus market is in its nascent stage
and is expected to grow at a steady rate during the forecast period owing to
the growing greenhouse gas emissions and rising air pollution. Moreover, increasing
fuel costs, depleting fossil fuels, coupled with lower maintenance and operational
costs are some of the other factors supporting the growth of Vietnam electric
bus market. However, the battery and charging
infrastructure issues are likely to hamper the growth of Vietnam electric bus
market. Additionally, factors like obstacles such as taxation policies, lack of
technical knowledge, among others are further anticipated to restrict the
growth of the market.
Browse market data Tables and Figures
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Pages and an in-depth TOC on "Vietnam Electric Bus Market"
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Vietnam 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 fragmented
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
owing to the growing preference of transport authorities for them. Based on battery
type, the market can be bifurcated into lead acid and lithium ion. Lithium ion
battery segment is expected to dominate the market since they have excellent
specific energy and energy density, thus making them ideal for battery electric
vehicles. Additionally, Li-ion batteries are also excellent in retaining
energy, with a self-discharge rate of less than 5% which is significantly lower
compared to any other type of battery.
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VinFast
and THACO are two of the leading players operating in Vietnam electric bus market.
The companies operating in the market are using organic strategies such as
product launches, mergers and collaborations to boost their share. “Vietnam is
one of the emerging markets in the Asia-Pacific region and is expected to create
huge opportunities for the electric bus market. As of now, Vietnam’s supportive policies for electric
bus lag behind the ones from other countries such as Thailand, Malaysia,
Indonesia, among others in the Asia-Pacific region. However, changing political
winds could quickly create an enabling environment for electric bus market in
Vietnam.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Vietnam Electric Bus Market By Seating Capacity, By
Battery Type, By Application, By Bus Length, Competition, Forecast &
Opportunities, 2024” has
evaluated the future growth potential of Vietnam 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 Vietnam electric bus market.
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