Saudi Arabia Electric Bus Market to Grow at Brisk Rate During Forecast Period

Rising population along with increasing government efforts to boost the use of clean fuel vehicles to drive Saudi Arabia electric bus market through 2024

According to TechSci Research report, “Saudi Arabia Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024”, the country’s electric bus market is anticipated to grow at an impressive rate during the forecast period on account of the fact that buses are the only means of public transport in several cities of the country. Moreover, government efforts for the use of clean fuel vehicles, growing tourism and surging demand for safe mobility are further driving the electric bus market in Saudi Arabia. Furthermore, the country is planning to manufacture buses locally so as to save import costs and create employment opportunities, thereby boosting the domestic industry and reducing reliance on oil exports.

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Saudi Arabia 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 categorized into up to 30-seater, 31-40-seater and above 40. The up to 30-seater segment is expected to hold the largest market share during the forecast period. This can be accredited to its compact body which gives it the agility to maneuver through the city. On the basis of battery type, the market can be bifurcated into lead acid and lithium ion, of which, the latter is the preferred battery type in the country.

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HIGER and Ankai are two of the leading players operating in Saudi Arabia electric bus market. “Electric bus market in Saudi Arabia is poised to grow at a formidable rate during the forecast period on account of rising focus of government on increasing the number of Umrah and Haj pilgrims by providing efficient, clean and reliable transportation. Additionally, in order to improve public transportation in the country, the capital, Riyadh placed an order of 600 Mercedes-Benz Citaro buses with the Daimler. Increasing number of such developments would fuel growth in the market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Saudi Arabia 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 Saudi Arabia 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 Saudi Arabia electric bus market.

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