China Electric Bus Market to Grow at a CAGR of 8.6% Between 2018-2025: P&S Market Research

NEW YORK, April 11, 2018 -- China electric bus market is projected to cross 176,000 units by 2025, growing at a CAGR of 8.6% between 2018-2025. The boost in demand for electric bus is driven by declining battery costs, improving operational efficiencies and rise in the replacement of old conventional buses with new electric ones.

China electric bus market is segmented on the basis of type, which includes parallel hybrid bus, pure electric bus, series parallel hybrid bus, and series hybrid bus. Pure electric bus held the largest share in the Chinese electric bus market in 2017 and is expected to hold its position during the forecast period. In terms of length, the Chinese electric bus market includes, <8m, 8m-10m and >10m. 8m-10m and >10m length buses together accounted for almost two-third of the total electric bus sales in the country in 2017.

Request to Get the sample Pages: https://www.psmarketresearch.com/market-analysis/china-electric-bus-market/report-sample

China has a few million buses/coaches accumulated over the last decade, out of which, around one-third of the buses are more than five years old. These old conventional buses are expected to be replaced by new electric ones during the forecast period. Large fleet of old conventional buses in the country provides considerable opportunity for the electric bus sales in the country. Moreover, additional buses would become old during the forecast period benefiting the sales of electric buses in the country and thereby driving the growth of China electric bus market.

Limited charging infrastructure is a major restraint hampering the growth of the Chinese electric bus market. The combined charging and battery swapping stations in the country are less than 500 and the government plans to increase them to 12,000 by 2020. The subsidy for installing a charging station is relatively less considering the high initial investments and long payback period for charging stations. Apart from charging stations, support from other entities such as electricity utilities, financial institutions, service providers, and leasing companies is also not adequate, which adversely affects the Chinese electric bus market.

Access Report Summary with Detailed TOC on “China Electric Bus Market” at: https://www.psmarketresearch.com/market-analysis/china-electric-bus-market

Zhengzhou Yutong Group Co. Ltd. was the leading player in the Chinese electric bus market in 2016, accounting for more than one-fourth of the total sales, followed by Higer Bus Company Limited and Zhongtong Bus & Holding Co. Ltd., each accounting for more than 10% of the total sales. Other key players in China electric bus market include Dongfeng Motor Corporation, King Long United Automotive Industry Co. Ltd., Anhui Ankai Automobile Co. Ltd., Liaoning Huanghai Automobile Import & Export Co. Ltd., Yangzhou Yaxing Motor Coach Co. Ltd., and BYD Company Limited.

More Reports on Electric Bus Industry by P&S Market Research

Global Electric Bus Market

The study suggests that low existing penetration of electric buses in the global fleet is the key reason for high growth rate of this market. The policy makers of various countries are focusing on developing public transit infrastructure with no or low pollution to tackle the air pollutant emissions, mainly in the densely-populated cities and mega-cities. This has been impelling the bus owners, including transit agencies, to make their fleet electric. This is consequently propelling the electric bus demand globally.

https://www.psmarketresearch.com/market-analysis/electric-bus-market

India Electric Bus Market

Increasing focus on reducing the level of local pollution, noise and fuel consumption, strengthening public transportation, and government incentives and subsidy schemes are some of the driving factors of the electric bus market in India. Besides pollution, there is another major problem associated with the vehicles that run on conventional fuels such as petrol or diesel.

https://www.psmarketresearch.com/market-analysis/india-electric-bus-market

About P&S Market Research

P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

Contact:
P&S Market Research

347, 5th Ave. #1402

New York City, NY - 10016

Toll-free: +1-888-778-7886 (USA/Canada)

Email: [email protected]

Web: https://www.psmarketresearch.com

Connect with us: LinkedIn | Twitter | Google + | Facebook