Governments
in Asia-Pacific countries have stepped up their plans for bringing
electric buses in the rapid transit and public transport systems,
inciting more demand in the coming years.
Existing
or conventional buses are losing their dominance in public transport
industry as several parts of the world are looking for transport
vehicle alternatives. Maintaining these buses required additional
expenditure and yet, improving their fuel economy became uncertain.
Electric buses turned out to be an ideal alternative for transforming
public transportation & urban transit systems. Financial
investments for improving the public transit system continue to
welcome rampant adoption of electric buses.
The
growth of global electric bus market is incidental to the growing
urbanization in different parts of the world. Counties and municipal
authorities in distinct countries are all demonstrating similar
response for electric buses. These authorities are acting as core
proponents of electric buses and urging their manufacturer to improve
their amenities in terms of seating capacity, power storage and
commuting economy. Global organizations monitoring effects of
commodities on the environment continue to give their nod for
electric buses in a jiffy. Increasing demand for electric buses has
orchestrated growth of associated market such as energy storage
solutions, lithium-ion batteries, lightweight seat or couch
materials, and many others.
The
most significant growth registered in the global electric bus market
comes from the Asia-Pacific region. Countries such as China, India,
and Thailand, among others have accelerated the replacement of public
transport vehicles with electric ones. Electric buses market in
Asia-Pacific will endure an impressive growth in the forecast period
of 2014 to 2020. According to a report compiled by Persistence Market
Research, titled “Global
Market Study on Electric Bus: China to Retain Dominance During
2014-2020,”
the global market for electric buses will garner revenues from sales
of over 33,000 units over the forecast period, rising at an
exponential CAGR of over 25%. The report also illustrates China’s
dominance in the global electric bus market, thereby signifying the
prominence of Asia-Pacific region in the future of electric buses.
For
China and a few other Asia-Pacific countries, growing air pollution
through fuel combustion is devastating their economy as well as the
lifestyle of consumers. Prompt adoption and use of electric buses is
slated to tone down the pollution levels in China to a significant
level. With the population growing beyond proportion, China continues
to strengthen its public transportation system; particularly in its
urban areas. The dense concentration of people living in China’s
urban cities have urged local authorities to restrict further
atmospheric damage from vehicles with poor economies. India and
Thailand have also put forth several propositions for actively
replacing the existing buses with electric or hybrid electric buses.
Manufacturers of electric buses, a majority of whom are based in
Asia-Pacific, have improved their production by reasonably increasing
the seating capacity, simultaneously reducing gross body weight and
hiking the energy storage capacity. Some notable players in the
global market for electric buses include, AB Volvo, Diamler, Ashok
Leyland, Alexander Dennis, Proterra, BYD Company, and EBUSCO, among
others.
The
report also includes key insights of global electric bus market,
especially in North American and European regions, where self-driving
technologies are being incorporated and tested on electric buses.
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