Asia Pacific Electric Bus Market Share 2023, Upcoming Trends, Analysis by Industry Growth Rate, Business Challenges and Future Opportunities 2033: SPER Market Research
The Asia-Pacific electric bus market is classified into three segments based on vehicle type: battery-electric buses, PHEV buses, and FCEV buses. FCEV buses are expected to increase rapidly because to their cheap operating costs and ease of technical maintenance. The development of hydrogen cells has reduced operational costs by improving fuel cell capacity and battery performance. Battery electric buses are also expected to rise throughout the projected period, as transportation corporations in several APAC nations strongly encourage the usage of electric buses for public transit. In India, over 600 electric buses were sold in 2019-2020, representing a nearly 50% increase over 2018-2019. Electra BYD has got orders from all Indian states for 765 electric buses in 2020. The Government of India approved 5095 electric buses for city shuttles in 64 states, 400 electric buses for intercity operations, and 100 electric buses for last-mile connectivity to the Delhi Metrorail Corporation in August 2019. OlectraBYD intends to construct a second electric bus manufacturing facility in northern India. The goal is to provide an electric bus at the lowest feasible cost.
