KOREA AND ASIA PACIFIC ELECTRIC BUS MARKET ANALYSIS

Korea and Asia Pacific Electric Bus Market, by Bus Type (City Bus, Tour/Intercity Bus / Luxury Buses, and School Bus), by Type (Trolleybus, Battery EV Bus, PHEV/Hybrid Bus, and Hydrogen Fuel Cell) by Size (Small (Upto 9m), Medium (9 to 12m), and Large (Above 12m)), and by Region (Korea and Asia Pacific (China, India, Japan, South Korea, ASEAN, and Rest of Asia Pacific)) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published In : Jan 2022
Code : CMI4881
Pages :170
Formats :
Excel and PDF
Industry : Automotive and Transportation

Market Challenges And Opportunities

Restraints & Challenges:

Limited Battery Capacity

Figure 1: Korea and Asia Pacific Electric Bus Market Share (%), By Country, 2020

Among country, China held dominant position in the Korea and Asia Pacific Electric Bus Market in 2020 and is expected to retain its dominance throughout the forecast period. The launch of technologically advanced buses including 5th-generation electric buses across China is also supporting the market dominance of APAC.

Additionally, China is the fastest-growing country in Asia Pacific electric bus market. The growth of this market is attributed to the high presence of top OEMs including Anhui Ankai Automobile Co., Ltd. (Ankai), Higer Bus, Yinlong Energy, BYD Company, Zhongtong Bus Holding, and Yutong in the country.

Medium (9 to 12m) segment is expected to drive the market growth during the forecast period.

Among size, Medium (9 to 12m) segment is expected to hold dominant position in the Korea and Asia Pacific electric bus market during the forecast period owing to preferred length and higher adoption of 9-12 length electric buses for public transportation. For instance, in February 2019, automotive manufacturer, Tata Motors, has delivered 20 (9m) Ultra Electric AC buses to the West Bengal Transport Corporation.