Indian Electric Bus Market is Expected to Grow With a CAGR of 53% During the Forecast period, 2019-2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “India Electric Bus Market by Type, by Length, by Battery, by Region – Market Size, Share, Development, Growth, and Demand Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The Indian electric bus market is predicted to witness a sale of 7,187 units by 2025, progressing at a 53.0% CAGR during the 2019-2025 period.

In recent years, the Indian government has come up with various policies and funding schemes for electric bus and charging stations, mainly to address the problem of increasing pollution levels in the country by promoting alternative fuel vehicles (AFVs). Various public transport agencies have inked contractual orders with manufacturers of electric buses for the adoption of such low-emission vehicles.

Based on vehicle type, the Indian electric bus market is bifurcated into a hybrid electric bus (HEB) and battery electric bus (BEB). Of these, during the forecast period, the BEB classification is predicted to maintain its dominance in the market in terms of sales volume. This is attributed to the increasing government support and lithium-ion (LI-ion) batteries’ reducing prices. On the basis of length, the market is classified into electric buses of more than 10 m and less than 10 m.

Between these two, in 2018, electric buses of less than 10 m length held the dominating sales volume share of more than 60.0% in the Indian electric bus market. Length agnostic subsidy provided by State Road Transport Undertakings has increased the preference for smaller buses in the nation. As per industry experts, the average price of Li-ion battery cells for larger orders reduced from nearly $1000/kWh in 2010 to approximately $333/kWh in 2018.

As battery price makes up for around 40.0% of the electric bus manufacturing cost, the reduced price of batteries is predicted to help the manufacturer keep the electric bus prices under check. Furthermore, it is expected that the electric vehicle cost, including for buses, would decline owing to the rising operational efficiency. As for internal combustion engines it took decades of experience to lower down the cost, the cost of electric vehicles is too predicted to come down with technical developments, economies of scale, and bettering operational efficiency, which is further expected to boost the Indian electric bus market growth during the forecast period.

In addition, with governments’ stringent regulations including emission norms and increasing support in the form of grants and subsidies, the Indian electric bus market is projected to grow. Besides, to deal with the rising concerns toward environmental degradation, the government is planning to introduce electric and hybrid bus services and also taking initiatives to promote electric bus manufacturing across the country. Recently, the Ministry of Urban Development launched the Green Urban Transport Scheme with the motive of completely eliminating carbon emissions from public transport in the nation. Olectra Greentech Limited and Tata Motors Limited are two of the prominent players in the market.

Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Type

1.3.2 Market Segmentation by Length

1.3.3 Market Segmentation by Battery

1.3.4 Market Segmentation by Region

1.3.5 Analysis Period

1.3.6 Market Data Reporting Unit

1.3.6.1 Value

1.3.6.2 Volume

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. India Electric Bus Market Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Type

4.1.1.1 BEB

4.1.1.2 HEB

4.1.2 By Length

4.1.2.1 Less than 10 meter

4.1.2.2 More than 10 meter

4.1.3 By Battery

4.1.3.1 LFP

4.1.3.2 NMC

4.1.3.3 Others

4.2 Market Dynamics

4.2.1 Trends

4.2.1.1 Growing collaborations with foreign manufacturers

4.2.2 Drivers

4.2.2.1 Government schemes and regulations

4.2.2.2 Rise in domestic manufacturing of electric buses

4.2.2.3 Rapid urbanization and growing environmental awareness

4.2.2.4 Impact analysis of drivers on market forecast

4.2.3 Restraints

4.2.3.1 Lack of adequate charging infrastructure and related ecosystem

4.2.3.2 High upfront cost of electric buses

4.2.3.3 Impact analysis of restraints on market forecast

4.2.4 Opportunities

4.2.4.1 High growth potential of the market

Chapter 5. Government Policies and Regulations

5.1 NEMMP 2020

5.1.1 FAME II Scheme

5.2 Urban Green Mobility Scheme 2017

5.3 Other Government Support for EVs Development

Chapter 6. India Market Size and Forecast

6.1 By Type

6.2 By Length

6.3 By Battery

6.4 By Region

Chapter 7. Competitive Landscape

7.1 Market Share Analysis of Key Players

7.2 Tenders for Procurement of Electric Buses

7.3 Competitive Benchmarking of Key Players

7.4 List of Models with Product Specifications (available in excel format only)

7.5 Strategic Developments of Key Players

7.5.1 Partnerships

7.5.2 Product Launches

7.5.3 Client Wins

7.5.4 Other Developments

Chapter 8. Company Profiles

8.1 Ashok Leyland Limited

8.1.1 Business Overview

8.1.2 Product and Service Offerings

8.1.3 Key Financial Summary

8.2 JBM Auto Limited

8.3 Solaris Bus & Coach S.A.

8.4 Deccan Auto Limited

8.5 Olectra Greentech Limited

8.6 Tata Motors Limited

8.7 Zhongtong Bus & Holding Company Limited

8.8 BYD Company Limited

8.9 VE Commercial Vehicles Limited

For more information about this report visit https://www.researchandmarkets.com/r/9szdc4

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Related Topics: Commercial Vehicles, Electric and Hybrid Vehicles