Rising need for cleaner
vehicles due to constantly increasing air pollution levels coupled with growing
government support towards the use of electric buses to fuel the demand for
electric buses across India through 2023
According
to TechSci Research report, “India Electric Bus
Market By
Vehicle Type, By Drivetrain Technology, Competition Forecast &
Opportunities, FY2017-FY2023”, the electric
bus market in India is projected to cross $ 667 million by FY2023. Rising
inclination towards electric vehicles to address the problem of rising air
pollution levels in the country coupled with the expanding government support
for electric vehicles are few of the key reasons buoying demand for electric buses
in India. In addition, the rising number of research and development activities
carried out for electrification of fuel powered buses is further anticipated to
compliment the country’s electric bus market during the forecast period.
Browse 34
market data Figures and Tables spread through 81 Pages and an in-depth TOC
on "India Electric Bus Market"
https://www.techsciresearch.com/report/india-electric-bus-market/2299.html
Customers can also request for 10% free customization on this report.
Customers can also request for 10% free customization on this report.
With a volume share of over 90%, battery electric buses dominated
the India electric bus market in FY2018. On account of growing requirement for
technologically advanced and environment-friendly automobiles to curb the rising
pollution levels in the country, the need for electric buses is anticipated to
surge at a robust pace during the forecast period in India. Moreover, major
chunk of demand for electric buses is expected to emanate from major cities as
various state governments are gradually replacing diesel buses with electric
ones. In 2017, the electric bus market was witnessed to be largely concentrated
in the country’s North region owing to the region’s early adoption of electric
buses. However, the penetration of electric buses in India’s southern region is
expected to increase at a robust pace by FY2023. Prices of electric buses is the
major factor influencing the purchase decision for various fleet owners and
state transport regulating bodies.
Foraying
of various leading bus manufacturers such as TATA, Mahindra, Ashok Leyland, etc.,
into electric bus market, and their continuing research and development to
manufacture technologically advanced and affordable electric buses is
anticipated to have a huge positive impact on the market over the course of next
five years. Moreover, with major leading players bidding for incorporation of
their buses in various state city transport systems, the electric bus market is
expected to witness a strong growth in revenue generation during the forecast
period.
“With many ongoing research and development projects in pipeline,
increasing government focus on electric buses across the country, demand for electric
buses is expected to grow at a robust pace in the coming years. Moreover, the
electric buses have several advantages over the conventional automobiles, like they
are much cleaner than the combustible automobiles and help curb the alarmingly
rising air pollution levels. All these factors would steer the growth in India
electric bus market in the coming years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Electric Bus
Market By Vehicle Type, By Drivetrain Technology, Competition Forecast &
Opportunities, FY2017-FY2023” has analyzed the potential of electric bus market across the country, and
provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by India electric bus market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
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