North America Electric Bus Market Report 2022: A $2.5+ Billion Market by 2028 Featuring Volvo, BYD, CAF, Daimler, King Long United Automotive Industry, NFI, Proterra, Shenzhen Wuzhoulong, & Van Hool
PR Newswire
DUBLIN, Sept. 27, 2022
DUBLIN, Sept. 27, 2022 /PRNewswire/ -- The "North America Electric Bus Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Vehicle Type, Hybrid Powertrain, Battery and End User" report has been added to ResearchAndMarkets.com's offering.
The North America electric bus market is expected to grow from US$ 756.45 million in 2021 to US$ 2,539.40 million by 2028; it is estimated to grow at a CAGR of 18.9% from 2021 to 2028.
Air pollution causes several diseases, some even becoming fatal at advanced stages. As vehicular discharge impacts public health, it may have a dangerous impact on the environment.
Governments across the region are investing heavily in infrastructure development to reduce ozone-depleting compounds and air pollution levels. This will be accomplished by enacting strict government regulations on automobile emissions.
The electric bus market is expanding as a result of these standards. Electric buses are eco-friendly since they do not emit any harmful pollutants. Furthermore, electric buses are efficient and provide clean urban transportation, giving a viable alternative to maintaining clean air in metropolitan areas.
As a result, many urban areas in countries progressively accept e-transport systems. The governments across the region enforced strict pollution standards, and directives are accelerating the use of electric buses, driving the market growth across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America electric bus market . The North America electric bus market is expected to grow at a good CAGR during the forecast period.
Key Market Dynamics
Market Drivers
- Rising Demand for Hydrogen Fuel Bus
- Strict Government Emission Regulations
Market Restraints
- High Initial and Development Cost
Market Opportunities
- Rising Production of Low-cost Lithium ion-Phosphate Batteries
Future Trends
- Emergence of Autonomous and Semi-Autonomous Transportation Systems
North America Electric Bus Market Segmentation
- The battery-electric bus segment dominated the market in 2021.
- The parallel hybrid segment dominated the market in 2021.
- The lithium iron phosphate (LIP) segment dominated the market in 2021.
- The public segment dominated the market in 2021.
- The US dominated the market in 2021.
Company Profiles
- AB Volvo
- BYD Company Ltd
- CAF Group (Solaris Bus & Coach)
- Daimler AG
- King Long United Automotive Industry Co., Ltd
- NFI Group
- Proterra Inc.
- Shenzhen Wuzhoulong Motors Co., Ltd
- Van Hool NV
For more information about this report visit https://www.researchandmarkets.com/r/5tvs5b
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