Asia Pacific Electric Bus Market Growth, Trends, Size, Scope, Revenue, Challenges and Future Share
Asia Pacific Electric Bus Market Size- By Vehicle Type, By Power Source Type, By Consumer- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2023 | Report ID: AMIN2383 | Pages: 1 - 154 | Formats*: |
| Category : Automotive & Transportation | |||
Asia Pacific Electric Bus Market Overview
According to SPER Market Research, the Asia Pacific Electric Bus Market is estimated to reach USD 113.14 billion by 2033 with a CAGR 10.78%.
An electric bus is a type of public transportation vehicle that runs on electricity instead of fossil fuels such as gasoline or diesel. These buses are powered by large batteries that store electrical energy, which is used to run an electric motor that propels the bus. Because they do not rely on traditional fuel sources, electric buses are considered a cleaner and more environmentally friendly form of transportation than their conventional counterparts. Additionally, electric buses are often quieter than diesel buses, which can reduce noise pollution in urban areas. Electric buses are becoming increasingly popular in many cities around the world as governments and transportation authorities seek to reduce their carbon footprint and improve air quality.
Exploring the Growth Drivers of the Asia Pacific Electric Bus Industry
The Asia Pacific electric bus market has been experiencing rapid growth in recent years due to several factors. One of the main drivers of growth is the rising concern for environmental sustainability, which has led to increased demand for clean transportation options. Electric buses, being emission-free, are considered a greener and more sustainable alternative to traditional fossil fuel-powered buses. Additionally, several governments in the region have been offering financial incentives and subsidies to encourage the adoption of electric buses by public transportation agencies.
What challenges does the Asia Pacific Electric Bus Market face?
While the Asia Pacific electric bus market has been experiencing rapid growth, there are still several challenges that need to be addressed. One of the main challenges is the high initial cost of electric buses compared to conventional buses, which can be a significant barrier for smaller transportation agencies and private bus operators. Additionally, the limited range and longer charging times of electric buses can also pose challenges in terms of operational efficiency, particularly for long-distance routes. Moreover, the lack of adequate charging infrastructure is a significant challenge for the electric bus market's growth, as it requires significant investment in charging stations and supporting infrastructure.
In what ways has the COVID-19 pandemic affected Asia Pacific Electric Bus Market?
The COVID-19 pandemic has had a significant impact on the Asia Pacific electric bus market. The pandemic caused a significant decline in demand for public transportation services, including electric buses, as people stayed home and avoided non-essential travel. This led to a slowdown in the production and sales of electric buses, resulting in supply chain disruptions and delays. Additionally, many transportation agencies and private bus operators faced financial difficulties due to reduced revenues, making it challenging to invest in new electric buses.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Vehicle Type, By Power Source Type, By Consumer |
| Regions covered | China, India, Japan, South Korea, Rest of South Africa |
| Companies Covered | Anhui Ankai Automobile Industries Co. Limited, Ashok Leyland Limited, BYD Auto Co. Limited, King Long United Automotive Co. Limited, Nanjing Jiayuan EV, Scania AB, Tata Motors Limited, Volvo Group, Zhongtong Bus Holding Co. Limited |
Key Target Audience:
- Manufacturers
- Supplier
- Distributors
- Transportation agencies
- Government organizations
- Automotive Industry
Asia Pacific Electric Bus Market Segmentation:
1. By Vehicle Type:
- Asia Pacific Electric Bus Market Value Share and Forecast, By Vehicle Type, 2023-2033
- Battery Electric Bus
- Plug-in Hybrid Electric Bus
2. By Power Source Type:
- Asia Pacific Electric Bus Market Value Share and Forecast, By Power Source Type, 2023-2033
- DC/AC Inverter
- DC/DC Converter
- DC/DC Boost Converter
- E-Motor
- AC/DC Charger
- Motor Controller
3. By Consumer:
- Asia Pacific Electric Bus Market Value Share and Forecast, By Consumer, 2023-2033
- Government
- Fleet Operator
4. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Asia Pacific Electric Bus Market (FY’2023-FY’2033)
- Overview of Asia Pacific Electric Bus Market
- Segmentation of Asia Pacific Electric Bus Market By Vehicle Type (Battery Electric Bus, Plug-in Hybrid Bus)
- Segmentation of Asia Pacific Electric Bus Market By Power Source Type (DC/AC Inverter, DC/DC Converter, DC/DC Boost Converter, E-Motor, AC/DC Charger, Motor Controller)
- Segmentation of Asia Pacific Electric Bus Market By Consumer (Government, Fleet Operators)
- Statistical Snap of Asia Pacific Electric Bus Market
- Growth Analysis of Asia Pacific Electric Bus Market
- Problems and Challenges in Asia Pacific Electric Bus Market
- Competitive Landscape in the Asia Pacific Electric Bus Market
- Impact of COVID-19 and Demonetization on Asia Pacific Electric Bus Market
- Details on Recent Investment in Asia Pacific Electric Bus Market
- Competitive Analysis of Asia Pacific Electric Bus Market
- Key Players in the Asia Pacific Electric Bus Market
- SWOT Analysis of Asia Pacific Electric Bus Market
- Asia Pacific Electric Bus Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Asia Pacific Electric Bus Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Electric Bus Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Electric Bus Market
7. Asia Pacific Electric Bus Market, By Vehicle Type (USD Million)
7.1. Asia Pacific Electric Bus Market Value Share and Forecast, By Vehicle Type, 2023-20337.2. Battery Electric Bus7.3. Plug-in Hybrid Electric Bus
8. Asia Pacific Electric Bus Market, By Power Source Type (USD Million)
8.1. Asia Pacific Electric Bus Market Value Share and Forecast, By Power Source Type, 2023-20338.2. DC/AC Inverter8.3. DC/DC Converter8.4. DC/DC Boost Converter8.5. E-Motor8.6. AC/DC Charger8.7. Motor Controller
9. Asia Pacific Electric Bus Market, By Consumer (USD Million)
9.1. Asia Pacific Electric Bus Market Value Share and Forecast, By Consumer, 2023-20339.2. Government9.3. Fleet Operator
10. Asia Pacific Electric Bus Market Forecast, 2019-2033 (USD Million)
10.1. Asia Pacific Electric Bus Market Size and Market Share
11. Asia Pacific Electric Bus Market, By Vehicle Type, 2019-2033 (USD Million)
11.1. Asia Pacific Electric Bus Market Size and Market Share by Vehicle Type (2019-2026)11.2. Asia Pacific Electric Bus Market Size and Market Share by Vehicle Type (2027-2033)
12. Asia Pacific Electric Bus Market, By Power Source Type, 2019-2033 (USD Million)
12.1. Asia Pacific Electric Bus Market Size and Market Share by Power Source Type (2019-2026)12.2. Asia Pacific Electric Bus Market Size and Market Share by Power Source Type (2027-2033)
13. Asia Pacific Electric Bus Market, By Consumer, 2019-2033 (USD Million)
13.1. Asia Pacific Electric Bus Market Size and Market Share by Consumer (2019-2026)13.2. Asia Pacific Electric Bus Market Size and Market Share by Consumer (2027-2033)
14. Asia Pacific Electric Bus Market, By Region, 2019-2033 (USD Million)
14.1. Asia Pacific Electric Bus Market Size and Market Share by Region (2019-2026)14.2. Asia Pacific Electric Bus Market Size and Market Share by Region (2027-2033)14.3. China14.4. India14.5. Japan14.6. South Korea14.7. Rest of Asia-Pacific
15. Company Profile
15.1. Anhui Ankai Automobile Industries Co. Limited15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Ashok Leyland Limited15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. BYD Auto Co. Limited15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. King Long United Automotive Co. Limited15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Nanjing Jiayuan EV15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Scania AB15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Tata Motors Limited15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Volvo Group15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. Zhongtong Bus Holding Co. Limited15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Asia Pacific Electric Bus Market is projected to reach USD 113.14 billion by 2033, growing at a CAGR of 10.78% during the forecast period.
Asia Pacific Electric Bus Market grew in market size from 2023. The Market is expected to reach USD 113.14 billion by 2033, at a CAGR of 10.78% during the forecast period.
Asia Pacific Electric Bus Market CAGR of 10.78% during the forecast period.
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Asia Pacific Electric Bus Market size is USD 113.14 billion from 2023 to 2033.
Asia Pacific Electric Bus Market Segment is Covered By Vehicle Type, By Power Source Type, By Consumer
The Asia Pacific region is anticipated to have the highest market share in Asia Pacific Electric Bus Market.
The key players in the market include Companies Covered Anhui Ankai Automobile Industries Co. Limited, Ashok Leyland Limited, BYD Auto Co. Limited, King Long United Automotive Co. Limited, Nanjing Jiayuan EV, Scania AB, Tata Motors Limited, Volvo Group, Zhongtong Bus Holding Co. Limited
One of the main drivers of growth is the rising concern for environmental sustainability, which has led to increased demand for clean transportation options.
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