China Electric Bus Market Size, Trends, Leading Players, Share, Forecast by 2025
Posted by shiba123 on May 23rd, 2020
China electric bus market is estimated to grow at a significant CAGR during the forecast period. The cohesive government policies and initiatives to minimize exhaust emissions in the country is a major factor to drive the growth of the China electric bus market. For instance, in China, the Ministry of Transport (MOT) provides subsidies and tax incentives to electric automobile manufacturers for the manufacturing of low-emission bus fleet. In October 2018, Shenzhen public bus operator was granted subsidies of ,150 for the running of its electric vehicles. Moreover, China is taking first-mover advantage in the electric bus market owing to the presence of key market player BYD Co. Ltd. in the country.
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The market is segmented on the basis of bus type, battery type, and end-user. Based on the bus type, the market is sub-segmented into the hybrid electric bus, fuel cell electric bus, and battery-electric bus. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries. Based on end-user, the market is sub-segmented into government and fleet owners.
BYD Co. Ltd., AB Volvo, Anhui Ankai Automobile Co., Ltd., China FAW Group Co., Ltd., Foton Motors, Higer Bus Co. Ltd., and Proterra Inc. are some of the key market players operating in the China electric bus market. BYD is a major market player owing to its increasing number of orders for electric buses from the domestic, as well as international markets. For instance, In December 2019, the company received an order of 259 buses from Keolis Nederland BV. In November 2019, the company received an order of 130 battery-electric K7M buses from the Los Angeles Department of Transportation (LADOT).
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China Electric Bus Market Segmentation
By Bus Type
By Battery Type
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