Electric Bus Market in China 2018-2022 to Post 11% CAGR | Technavio
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Technavio has released a new market research report on the electric bus market in China for the period 2018-2022. (Graphic: Business Wire)
Replacement of diesel buses with electric buses is one of the major trends being witnessed in the . As the operation, repair, and maintenance costs, as well as the cost of fueling, of diesel buses are high, leading bus manufacturers are looking for alternative options to produce buses with lower TCO. The consumption of non-renewable sources of energy is rapidly increasing, and their supply is drastically falling. Bus manufacturers are shifting from conventional diesel-based buses to buses based on alternative fuels, such as electricity, hydrogen fuel cells, solar, ethanol, ultra-low sulfate, and bio-diesel.
According to Technavio analysts, one of the key factors contributing to the growth of the electric bus market in China is the reducing prices of battery packs:
Electric bus market in China: Reducing prices of battery packs
Since e-buses are powered and driven by battery-powered systems, the battery cost is one of the most critical factors contributing to the upfront cost of an e-bus. Several improvements in EV battery technology have made e-buses desirable to consumers. For example, advancement of Li-ion batteries has made them comparatively lightweight with a long lifespan compared to conventional lead-acid and valve-regulated lead-acid (VRLA) batteries. The cost of batteries is also continuously decreasing owing to the implementation of economies of scale from major battery manufacturers.
According to a senior analyst at Technavio for research on automotive manufacturing, “The shifting of manufacturing bases from Japan to China due to a declining domestic market is another reason for the decline in the cost of Li-ion batteries. This shift encourages Chinese manufacturers to develop Li-ion batteries for EVs at a competitive price.”
Electric bus market in China: Segmentation analysis
The electric bus market in China research report provides market segmentation by bus type (fully electric bus and hybrid electric bus) and by customer (public and private). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181206005472/en/
CONTACT: Technavio Research
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KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 12/06/2018 08:47 AM/DISC: 12/06/2018 08:47 AM