Electric Bus Market in China 2018-2022
About this market
China is the dominant adopter of electric vehicles (EVs) across the world which can be evident from its share of about 99% in the global e-bus market in terms of cumulative adoption. The Chinese market is an early adopter of new technology that supports electric vehicles. The newly launched electric buses are also being equipped with supercapacitors, that have high durability with an operating time of 12 years and endure million charges under high temperature. With the supercapacitors forming a crucial component in the e-bus market, the industry is set to grow exponentially. Technavio ‘s analysts predict the electric bus market in China to grow at a CAGR of close to 11 % by 2022.
Reducing prices of battery packs
Since e-buses are driven and powered by battery-powered systems, the battery cost is one of the crucial factors contributing to the upfront cost of an e-bus. With the implementation of economies of scale from top battery manufacturers and shift of manufacturing bases from Japan too China, the cost of batteries is continuously decreasing, contributing to the growth of the electric bus market in China.
Availability of strong alternative public transportation like rail network
With the increase in disposable income, high buying power of consumers, and ease of commute, customers are increasingly shifting their preference from bus and coach travel to air travel. This will negatively impact the electric buses market in China.
For the detailed list of factors that will drive and challenge the growth of the electric buses market in China during the 2018-2022, view our report.
The electric buses market in China appears to be concentrated since the market has few number of companies. The reducing prices of battery packs and the adoption of fully electric buses equipped with supercapacitors are some of the factors positively impacting the growth of the market. Some of the top companies in the electric buses market in china include ANKAI, BYD Company, Higer Bus, Yinlong Energy, YUTONG, and Zhongtong Bus Holding.
‘With the presence of a few number of companies, this market appears to be concentrated. This market research report will help clients identify new growth opportunities. Several companies in the electric buses market in china are focusing on developing fully electric busses equipped with supercapacitors that provide high durability.’
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