United States Electric Bus Market Size, Share, Development, Growth, Analysis and Demand Forecast (2015-2024) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 26, 2019--The “U.S. Electric Bus Market by Vehicle Type (BEB, PHEB, HEB), by Length (> 40 feet, < 40 feet), by Battery (Li-Ion, NiMH), by Charging Type (Plug-In, Pantograph, Inductive) - Market Size, Share, Development, Growth, and Demand Forecast, 2015-2024” report has been added to ResearchAndMarkets.com’s offering.
The size of the U.S. electric bus market is estimated to be $1,948.5 million in 2024. It is also being expected that the market will advance with a 18.5% CAGR during the forecast period.
The factors driving the progress of the market are regional, federal, and state incentive programs and grants. Similarly, low ownership and maintenance cost of e-buses, especially battery electric buses (BEB), are anticipated to help the market advance during the forecast period.
On the basis of vehicle type, the U.S. electric bus market has been divided into plug-in hybrid electric bus (PHEB), BEB, and hybrid electric bus (HEB). In the historical period, HEB dominated the market, however, the BEB type is estimated to see the fastest growth in the future because of declining battery prices and growing range of such buses.
Now, coming to charging type, the U.S. electric bus market is classified into pantograph, inductive, and plug-in. Out of these, plug-in was the largest category in 2017, holding more than 75% revenue share because of its early adoption for personal transport vehicles. However, during the forecast period, the inductive category is predicted to be grow the fastest in the country.
Currently, two kinds of BEBs are available in the U.S. electric bus market: a short-range bus with a small on-board battery which requires on-route charging more frequently, and an extended-range bus with a large battery designed to be charged slowly overnight (depot-charge BEB). Earlier, on-route charge buses dominated the market, but now, depot-charge buses are being demanded more, as these have quite similar performance figures to a diesel bus.
With improvements in battery technology, the range of depot-charge buses is improving, thus enabling longer route coverage. Furthermore, major BEB manufactures are introducing new models with an increased range, thereby, backing the growth of depot-charge bus sales. This is how, the increasing adoption of these buses as compared to on-route charge models have become a recent trend in the U.S. electric bus market.
According to the National Transit Database, around 38% of the operational diesel buses in the country were manufactured before 2007; that was the year when the more-strict diesel standards came into effect. An additional 10.5% of the buses in the U.S. were manufactured between 2007 and 2010. As these have not been rebuilt, these might not meet the current standards for hydrocarbon and nitrogen oxide emission.
During the forecast period, e-buses are predicted to replace all the conventional ones, and the replacement of old busies offers lucrative growth opportunities to the players in the U.S. electric bus market.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Vehicle Type
1.3.2 Market Segmentation by Length
1.3.3 Market Segmentation by Battery
1.3.4 Market Segmentation by Charging Type
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
126.96.36.199 By industry participant
188.8.131.52 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle Type
4.1.2 By Length
184.108.40.206 > 40 feet
220.127.116.11 < 40 feet
4.1.3 By Battery
4.1.4 By Charging Type
4.2 Value Chain Analysis
4.3 Electric Bus Funding Scenario
4.4 Market Dynamics
18.104.22.168 Growing preference for depot charge buses over on-route charge buses
22.214.171.124 Increasing government initiatives
126.96.36.199 Environmental benefits
188.8.131.52 Stricter regulatory measures to reduce emissions
184.108.40.206 Long-term economic benefits to transit agencies
220.127.116.11 Availability of local, state, and federal funding toward zero-emission buses
18.104.22.168 Falling battery costs and improving operational efficiencies
22.214.171.124 Impact analysis of drivers on market forecast
126.96.36.199 High capital costs of the buses and infrastructure
188.8.131.52 Limited infrastructure and value chain ecosystem
184.108.40.206 Impact analysis of restraints on market forecast
220.127.116.11 School buses
18.104.22.168 Increasing replacement sales
4.5 Porter’s Five Forces Analysis
Chapter 5. U.S. Market Size and Forecast
5.1 By Vehicle Type
5.2 By Length
5.3 By Battery
5.4 By Charging Type
Chapter 6. Major Electric Bus Deployment Initiative in U.S.
6.1 Electric Buses in Service and On-Order by State
Chapter 7. Policy and Regulatory Landscape for Electric Bus
7.1 Electric Buses
7.1.2 Incentive Schemes and Programs
22.214.171.124 New York
126.96.36.199 Rhode Island
7.2 Electric Bus Projects in the Pipeline
Chapter 8. Competitive Landscape
8.1 Market Share Analysis of Key Players
8.2 Product Benchmarking of Key Players
Chapter 9. Company Profiles
9.1 Proterra Inc.
9.1.1 Business Overview
9.1.2 Product and Service Offerings
9.2 BYD Motors Inc.
9.3 NFI Group Inc.
9.4 GreenPower Motor Company Inc.
9.5 Gillig LLC
9.6 Blue Bird Corporation
9.7 Nova Bus Corporation
9.8 The Lion Electric Co.
For more information about this report visit https://www.researchandmarkets.com/research/hzhx4f/united_states?w=4
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Related Topics:Commercial Vehicles,Electric and Hybrid Vehicles
KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 03/26/2019 01:38 PM/DISC: 03/26/2019 01:38 PM