Electric Bus Market, By Propulsion Type (BEV , FCEV , and PHEV), By Length (Less than 9 meters , 9-14 meters , and Above 14 meters), By Range (Less than 200 miles , and More than 200 miles), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Mar 2024

Code : CMI5091

Pages :170

Formats :

Excel and PDF

Industry : Automotive and Transportation

Market Challenges: High Upfront Costs and Battery Expense

The electric bus market faces several challenges. The upfront capital costs of electric buses are significantly higher than diesel buses, as battery and motor technologies remain expensive. Refueling and charging electric buses requires heavy infrastructure investments in grid upgrades and charging stations. Buses need to travel long distances daily, testing the limited range of current battery technologies. There are also concerns from operators regarding battery life and maintenance costs long-term. Standards and regulations for electronic components and charging are still evolving globally.

Market Opportunities: Supportive Government Policies and Regulations

Government policies around the world are increasingly supporting adoption through funding and regulations. Rider preferences are shifting towards more environmentally-friendly options. With larger scale manufacturing and technology improvements, battery and motor costs are expected to decline steadily. The total cost of ownership of electric buses is becoming comparable to diesel in many regions. City governments aim to reduce local emissions and fossil fuel dependency.