China Electric Bus Market to Witness Impressive Growth until 2024
Rising population coupled with growing government support
towards the use of electric buses to drive China electric bus market through
2024
According to TechSci Research report, “China Electric Bus Market By Seating Capacity, By
Battery Type, By Application, By Bus Length, Competition, Forecast &
Opportunities, 2024”, the electric bus market in China is anticipated
to grow at an impressive rate on account of strong focus of the government to boost
clean energy adoption and reduce air pollution levels. Moreover, reduction in
the prices of battery and incentives offered by the government are further promoting
the growth of electric bus market in China. Additionally, Shenzhen is the first
city in the world to have entire fleet of buses running on electricity.
Browse market data Figures and Tables spread through 70 Pages and
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Electric bus market in China
can be segregated based on seating capacity, battery type, application, bus
length and region. Among battery types, lithium ion battery is witnessing high
demand as due to advancements in lithium ion battery, the overall weight of the
bus is reduced and lifespan of the bus, when compared with lead acid
counterparts, is also increased, thereby promoting the growth of the lithium
ion battery segment. In terms of seating capacity, China electric bus market
can be segmented into up to 30-seater, 31-40 seater and above 40-seater. Up to
30-seater is the preferred type on account of high sales of the electric buses
in this segment.
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Major players operating in the market
include BYD Company Limited, Zhengzhou Yutong Bus Co., Ltd., Anhui Ankai
Automobile Co., Ltd., King Long United Automotive Industry Co., Ltd,
Volvo,
Nanjing Jiayuan EV, Suzhou Eagle Electric Vehicle, Zhongtong Bus & Holding
Co., Ltd., ANKAI, HIGER, among others. “China electric bus market is
anticipated to grow at a brisk rate during the forecast period on account of
government regulation on low carbon emission and favorable policies for the
adoption of electric buses. Additionally, presence of leading electric bus and
EV battery manufacturers in the country is further positively influencing the
growth of the electric bus market in China.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting firm.
“China Electric Bus
Market By Seating Capacity, By Battery Type, By Application, By Bus Length,
Competition, Forecast & Opportunities, 2024”, has analyzed the potential of electric
bus market across the country, and provides statistics and information on
market sizes, shares and trends. The report will suffice in providing the
intending clients with cutting-edge market intelligence and help them in taking
sound investment decisions. Besides, the report also identifies and analyzes
emerging trends along with essential drivers and key challenges faced by China
electric bus market.
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