Market Forecast By Vehicle Types (Plug-In Electric Bus, Hybrid Electric Bus & Battery Electric Bus), By End Users (Public & Private), By Charging Infrastructure (Ground Contact, Roof Pantograph, Gantry Pantograph, Plug Only & Induction), By Countries (Indonesia, Malaysia, India, China, Japan, Australia, Thailand and Rest of Asia Pacific) and Competitive Landscape.
Product Code: ETC000906 | Publication Date: Jul 2024 | Updated Date: Jul 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Asia Pacific (APAC) Electric Bus Market |
Forecast period | 2024-2030 |
CAGR | 11% |
Growing Sector | Public sector |
This Asia Pacific (APAC) Electric Bus Market report thoroughly covers the market By Charging Infrastructure, by Vehicle Types, By End Users, and By Countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would assist stakeholders to devise and align their market strategies according to the current and future market dynamics.
The growing demand for electric buses in the public and private sectors in the Asia Pacific (APAC) region is anticipated to propel the market's expansion. Technological breakthroughs in electric vehicles, rising funding for environmentally friendly transportation projects, and urbanization trends are major drivers of industry expansion. Additionally, it is anticipated that rising demand for electric buses in several Asia Pacific (APAC) nations will support market expansion. The Asia Pacific (APAC) Electric Bus market is expanding as a result of government initiatives to enhance service quality, sustainability, and transport efficiency.
According to 6Wresearch, the Asia Pacific (APAC) Electric Bus Market size is expected to grow at a significant CAGR OF 11% during the forecast period of 2024-2030. The Asia Pacific (APAC) Electric Bus Market is expanding significantly, driven primarily by the growing need for dependable and eco-friendly modes of transportation. The Asia Pacific (APAC) area is expected to see a rise in the demand for electric buses due to the developments in electric vehicle technology. Notable advancements in battery technology and charging infrastructure, along with an increasing demand for emission-free public transportation, are anticipated to support market expansion. Additionally, government campaigns and initiatives encouraging the usage of electric buses to improve sustainability and transport efficiency are expected to support the market in the Asia Pacific (APAC) area.
Furthermore, the growing use of these cars in private fleets and public transportation will probably accelerate market expansion. Despite the Asia Pacific (APAC) Electric Bus Market's great growth possibilities, constraints such as the need for ongoing R&D, considerable initial investment, and rapid infrastructure development may impede its advancement. But with further progress in the field of electric vehicles, it is expected that these difficulties will be solved eventually.To meet the rising demand for environmentally friendly and effective transportation options, the major players in this market are continuously working to improve the efficacy and efficiency of electric buses.
The electric bus business is expanding rapidly in the Asia Pacific (APAC) area, and a number of significant companies are reshaping the market. Prominent producers including Chinese-based BYD Company Limited are notable for their wide selection of electric buses and unwavering dedication to battery technology improvement. Another well-known participant is Proterra Inc., a US-based company with substantial operations in Asia that is well-known for its cutting-edge electric buses and commitment to environmentally friendly transportation options. Major Chinese producer Yutong Group is excellent at creating a wide range of electric buses to meet Asia Pacific (APAC)'s demands for both intercity and urban transportation. Furthermore, businesses like Ankai Automobile Co., Ltd. and Zhongtong Bus Holding Co., Ltd .also make a significant contribution to the regional market by providing a diverse range of electric bus models to fulfill the needs of different customers. Supportive government regulations that encourage clean transportation and lower emissions also contribute to the industry's growth by encouraging the adoption and growth of electric bus fleets throughout the Asia Pacific (APAC) region.
The market for electric buses in the Asia Pacific (APAC) area is affected by a variety of laws designed to encourage environmentally friendly transportation options and lower emissions. To promote the usage of electric buses, nations like China, India, and Japan have imposed strict pollution regulations and offered financial incentives. As an example, China, a significant player in the industry, promotes the development of electric vehicle (EV) infrastructure and provides subsidies to hasten the deployment of electric buses throughout its cities. India has set aggressive goals to electrify its fleets of public transportation and is providing tax breaks and subsidies to operators and manufacturers.In order to promote electric mobility solutions, Japan focuses on improving infrastructure and encouraging partnerships between the public and private sectors as well as research institutes. The strategies taken by each nation differ according to local priorities, technological readiness, and environmental issues, but taken as a whole, these laws seek to promote a strong ecosystem for electric buses that tackles issues of energy security and urban pollution while promoting economic growth via technological advancements in clean transportation.
The Asia Pacific (APAC) electric bus market is expected to develop significantly in the future years, thanks to a number of factors. Concerns about air pollution, urbanization, and government programs supporting environmentally friendly transportation are driving up the usage of electric buses. Leading this transition are nations like China, India, and Japan, who have set high goals for electrifying their fleets of public transportation. The range, efficiency, and operating viability of electric buses are all improved by technological developments in battery and charging infrastructure.Additionally, the development and implementation of electric buses throughout the area is being supported by increased investments from the public and commercial sectors. The need for clean, effective public transportation solutions is predicted to rise along with urban population growth, which will further propel the electric bus market in Asia Pacific (APAC) towards a promising future marked by lower emissions, improved operational efficiencies, and a sustainable urban transport ecosystem.
According to Ravi Bhandari, Research Head, 6Wresearch, Battery Electric Bus (BEB) is now seeing the fastest growth in a variety of public and private transportation applications. Its increased longevity, excellent energy efficiency, and adaptability to a variety of operating environments are the reasons behind its expansion. Because of its dependability and durability, BEB is preferred by sectors like urban and rural public transit, school transportation, and airport transportation, which supports its rising market demand.
Among the numerous forms of charging infrastructure for electric buses, plug-only charging is presently gaining the fastest expansion. This is mostly because to its affordability, adaptability, and compatibility with current infrastructure. Plug-only charging solutions entail plugging the bus straight into a charging station, much like you would with an electric car for personal usage. Plug-only systems are easier to adopt and expand across varied metropolitan contexts without requiring significant infrastructure improvements because of their straightforward design and operation.
In Asia Pacific (APAC), the public sector—which includes transportation agencies and local governments—usually grows at the fastest rate. Government regulations, incentives, and requirements targeted at lowering emissions and encouraging environmentally friendly public transportation options are what are driving this rise. Electric buses are being used by public transportation companies more frequently in order to comply with environmental standards, promote fleet sustainability, and improve urban air quality.
China is currently seeing the fastest growth in the Asia Pacific (APAC) electric bus market, owing to active regulations pushing electric vehicle use, extensive charging infrastructure, and strong manufacturing capabilities. Growing government backing and environmental consciousness are also contributing to the significant rise of other nations like Japan and India.
The report offers a comprehensive study of the subsequent market segments
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of The Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. APAC Electric Bus Market Overview |
3.1 APAC Country Indicators |
3.2 APAC Electric Bus Market Revenues & Volume 2020-2030F |
3.3 APAC Electric Bus Market Revenue Share, By Vehicle Types, 2020 & 2030F |
3.4 APAC Electric Bus Market Revenue Share, By Charging Infrastructure, 2020 & 2030F |
3.5 APAC Electric Bus Market Revenue Share, By End User, 2020 & 2030F |
3.6 APAC Electric Bus Market Revenue Share, By Regions, 2020 & 2030F |
3.7 APAC Electric Bus Market - Industry Life Cycle |
3.8 APAC Electric Bus Market - Porter’s Five Forces |
4. APAC Electric Bus Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. APAC Electric Bus Market Trends |
6. APAC Electric Bus Market Overview, By Vehicle Types |
6.1 APAC Electric Bus Market Revenues & Volume, by Hybrid 2020-2030F |
6.2 APAC Electric Bus Market Revenues & Volume, by Battery 2020-2030F |
6.3 APAC Electric Bus Market Revenues & Volume, by Plug-in Hybrid 2020-2030F |
7. APAC Electric Bus Market Overview, By Charging Infrastructure |
7.1 APAC Electric Bus Market Revenues, By Ground Contact, 2020-2030F |
7.2 APAC Electric Bus Market Revenues, By Roof Pantograph, 2020-2030F |
7.3 APAC Electric Bus Market Revenues, By Gantry Pantograph, 2020-2030F |
7.4 APAC Electric Bus Market Revenues, By Plug Only, 2020-2030F |
7.5 APAC Electric Bus Market Revenues, By Induction, 2020-2030F |
8. APAC Electric Bus Market Overview, By End User |
8.1 APAC Electric Bus Market Revenues & Volume, By Public, 2020-2030F |
8.2 APAC Electric Bus Market Revenues & Volume, By Private, 2020-2030F |
9. India Electric Bus Market Overview |
9.1 India Electric Bus Market Revenues & Volume 2020-2030F |
9.2 India Electric Bus Market Revenues and Volume, By Vehicle Types, 2020-2030F |
9.3 India Electric Bus Market Revenues, By Charging Infrastructure, 2020-2030F |
9.4 India Electric Bus Market Revenues, By End User, 2020-2030F |
10. China Electric Bus Market Overview |
10.1 China Electric Bus Market Revenues & Volume 2020-2030F |
10.2 China Electric Bus Market Revenues and Volume, By Vehicle Types, 2020-2030F |
10.3 China Electric Bus Market Revenues, By Charging Infrastructure, 2020-2030F |
10.4 China Electric Bus Market Revenues, By End User, 2020-2030F |
11. Thailand Electric Bus Market Overview |
11.1 Thailand Electric Bus Market Revenues & Volume 2020-2030F |
11.2 Thailand Electric Bus Market Revenues and Volume, By Vehicle Types, 2020-2030F |
11.3 Thailand Electric Bus Market Revenues, By Charging Infrastructure, 2020-2030F |
11.4 Thailand Electric Bus Market Revenues, By End User, 2020-2030F |
12. Japan Electric Bus Market Overview |
12.1 Japan Electric Bus Market Revenues & Volume 2020-2030F |
12.2 Japan Electric Bus Market Revenues and Volume, By Vehicle Types, 2020-2030F |
12.3 Japan Electric Bus Market Revenues, By Charging Infrastructure, 2020-2030F |
12.4 Japan Electric Bus Market Revenues, By End User, 2020-2030F |
13. Australia Electric Bus Market Overview |
13.1 Australia Electric Bus Market Revenues & Volume 2020-2030F |
13.2 Australia Electric Bus Market Revenues and Volume, By Vehicle Types, 2020-2030F |
13.3 Australia Electric Bus Market Revenues, By Charging Infrastructure, 2020-2030F |
13.4 Australia Electric Bus Market Revenues, By End User, 2020-2030F |
13. Malaysia Electric Bus Market Overview |
13.1 Malaysia Electric Bus Market Revenues & Volume 2020-2030F |
13.2 Malaysia Electric Bus Market Revenues and Volume, By Vehicle Types, 2020-2030F |
13.3 Malaysia Electric Bus Market Revenues, By Charging Infrastructure, 2020-2030F |
13.4 Malaysia Electric Bus Market Revenues, By End User, 2020-2030F |
13. Indonesia Electric Bus Market Overview |
13.1 Indonesia Electric Bus Market Revenues & Volume 2020-2030F |
13.2 Indonesia Electric Bus Market Revenues and Volume, By Vehicle Types, 2020-2030F |
13.3 Indonesia Electric Bus Market Revenues, By Charging Infrastructure, 2020-2030F |
13.4 Indonesia Electric Bus Market Revenues, By End User, 2020-2030F |
14. Rest of APAC Electric Bus Market Overview |
14.1 Rest of APAC Electric Bus Market Revenues & Volume 2020-2030F |
15. APAC Electric Bus Market - Opportunity Assessment |
15.1 APAC Electric Bus Market Opportunity Assessment, By Vehicle Types 2025F |
15.2 APAC Electric Bus Market Opportunity Assessment, By Infrastructure 2025F |
15.3 APAC Electric Bus Market Opportunity Assessment, By End User, 2025F |
16. APAC Electric Bus Market Competitive Landscape |
16.1 APAC Electric Bus Market Revenue Share, By Company, 2023 |
16.1.1 India Electric Bus Market Revenue Share, By Company, 2023 |
16.1.2 China Electric Bus Market Revenue Share, By Company, 2023 |
16.1.3 Japan Electric Bus Market Revenue Share, By Company, 2023 |
16.1.4 Australia Electric Bus Market Revenue Share, By Company, 2023 |
16.1.5 Malaysia Electric Bus Market Revenue Share, By Company, 2023 |
16.1.6 Thailand Electric Bus Market Revenue Share, By Company, 2023 |
16.1.7 Indonesia Electric Bus Market Revenue Share, By Company, 2023 |
16.2 APAC Electric Bus Market Competitive Benchmarking, By Operating & Technical Parameters |
17. Company Profiles |
18. Key Recommendations |
19. Disclaimer |
Market Forecast By Vehicle Types (Plug-In Electric Bus, Hybrid Electric Bus & Battery Electric Bus), By End Users (Public & Private), By Charging Infrastructure (Ground Contact, Roof Pantograph, Gantry Pantograph, Plug Only & Induction), By Countries (Indonesia, Malaysia, India, China, Japan, Australia, Thailand and Rest of Asia Pacific) and Competitive Landscape.
Product Code: ETC000906 | Publication Date: Sep 2019 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Asia Pacific Electric Bus Market has been witnessed as a dominant market across the Globe capturing high demand for the product. Owing to rising concerns of the developing countries towards alarming air pollution levels each year, the region is expected to capture sound revenues in the upcoming six years.
According to 6Wresearch, the Asia Pacific (APAC) Electric Bus Market is anticipated to register swashbuckling growth during 2019-2025. China has been witnessed capturing major revenue share of the market and is further expected to dominate the market in the coming years too. The growth is further expected to be triggered by escalating market revenues in India and Japan.
Several technological advancements coupled with several innovation strategies in the transportation industry would assist the electric bus market gain momentum in the Asia Pacific region. Moreover, various government initiatives taken in the developing countries to control soaring pollution levels along with increased expenditure in bringing advancements in the transportation industry is further expected to assist the Asia Pacific market gain progression in the coming years.
The APAC Electric Bus market report thoroughly covers the market by vehicle types, end-users, charging infrastructure, and countries including Indonesia, Malaysia, Japan, China, Australia, India, Thailand, and the rest of Asia Pacific. The Electric Bus market outlook report provides an unbiased and detailed analysis of the on-going Asia Pacific Electric Bus market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
In the Asia-Pacific electric bus market, the estimated the grow of the exponential in the forecast period. Due to an increase in the urbanization of the emerging countries in the different regions that going to create the demand helps in improving the public transport with the cohesive government its plan the schemes and initiative is one of the major factors is going to drive the growth of Asia-Pacific electric bus market. Asia-Pacific electric bus has been the major market player that contributes to the drive the growth of the country such as BYD Co. Ltd. Additionally, other countries have been the potential of growth opportunities supported by government policies such as Japan, India, and China.
According to the research, the report is segmented on the base of the market such as end-user, bus type, country and battery type sub-segmented battery-electric bus, hybrid electric bus, and fuel cell electric bus. Based on battery type such as Li-Ion, NiMH. The end-user the market sub-segmented is fleet owners and government. The government is considering is end-user is the active involvement of the purchase of electric buses that the greenhouse gas. The electric bus market is based on electric bus markets such as India, Japan, China, and the rest of Asia-pacific.
There are some key players in the market of Asia pacific electric bus markets such as AB Volvo, Deccan Auto Ltd., BYD Co. Ltd., Ashok Leyland Ltd., Proterra Inc., and Goldstone Infratech Ltd. Their key players have involved the growth strategies such as geographical expansion, collaboration, partnership in the competition in the Asia-Pacific.
The Witness of Growth by Battery Electric Bus
The Witness of Growth by Battery Electric Bus transit agencies is used in various countries is to sign the promotion of the electric bus by public transportation. In the Asia Pacific and Europe it is used to adopt the rate of climbing. According to the research report, the UITP is having a global share of electric buses by the sale of the bus in the entire market.
The Indian States combined the Electra-BYD and Electric buses in the upcoming years.
In the past years, the government has India sanctioned the 5095 electric buses include the 64 states and 400 e-buses intercity operations, Delhi Metro Rail Corporation. In north India the Electra-BYD is planning the set-up of the electric bus by plant manufacturing it aims to provide the electric buses at the lowest rate.
Asia Pacific electric bus market is anticipated to witness exponential growth in the upcoming six years on the back of rising environmental concern coupled with rising in the need for pollution minimization by using pollution-free vehicles which are leading to spur the demand for electric buses in the coming years. Additionally, On the basis of the country, China electric bus is expected to dominate the overall market sales revenue owing to rise the need for efficient energy coupled with increasing minimum use of fossil fuel and would increase the significant demand for electric buses and would benefit the Asia Pacific electric bus market garner progressive revenues in the coming years.
Key Highlights of the Report:
Markets Covered
The Asia Pacific Electric Bus market report provides a detailed analysis of the following market segments:
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