In a recent report, the World Bank has revealed that travel restrictions for non-essential purposes within cities has shrunk the demand for public transport between 25% and 50% in many cities worldwide.
However, the COVID-19 pandemic has triggered a sudden drop in the demand for buses around the world as travelers are fearful of catching the virus in such crowded spaces. The electric bus market growth is premised on the growing utilization of public transport systems, especially in emerging economies. In-depth profiling and comprehensive evaluation of the key market players and their strategies.ĬOVID-induced Slump in Demand for Public Transport to Inhibit Market Growth Tangible insights into the market trends, drivers, and restraints Īctionable analysis of the various market segments Ĭareful examination of the regional dynamics shaping the market and The report states that the global market volume stood at 198 thousand units in 2019 and also contains the following: Such initiatives are expected to augment the growth of this market in the coming years. For instance, the UN Environment Program (UNEP) partnered with the International Council on Clean Transportation (ICCT) to identify and remove barriers to build cleaner public transport systems, such as electric buses, across the globe. To address this, international bodies are taking decisive efforts to advance the cause of sustainable mobility. Furthermore, the International Energy Agency (IEA) predicts that by 2060, emissions from transport activities will rise by 50%, especially from trucks and buses. According to the Asian Development Bank (ADB), this sector accounted for 18% of all manmade carbon dioxide emissions in 2015. The transport sector is a notable contributor to air pollution worldwide. Increasing interest in e-mobility solutions for urban areas will create multiple opportunities in this market, shares Fortune Business Insights™ in its report, titled “Electric Bus Market Size, Share & Industry Analysis, By Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle), and Regional Forecasts, 2020-2027”. 17, 2021 (GLOBE NEWSWIRE) - The global electric bus market volume to reach 544 thousand units in 2028, exhibiting a CAGR of 11.58% during the forecast period. (Nottingham, England), Omnitracs (Dallas, Texas, USA), Masternaut Limited. Massachusetts, USA), Microlise Telematics Pvt.
(San Diego, California, USA), PTC (Boston. (California, USA), Verizon (Atlanta, Georgia, USA), Zonar Systems (Seattle, USA), Octo Group S.p.A (London, England), Inseego Corp. (Amsterdam, North Holland), MiX Telematics (Florida, united states), Trimble Inc. Electric Bus Market Key Players Studied: Bosch Connected Devices and Solutions GmbH (Gerlingen, Germany), Webfleet Solutions B.V.