Electric Intercity Bus Market

Electric Intercity Bus Market: Introduction

• Intercity bus, or intercity coach, is a public transportation for long distances, connecting two important cities or nearby rural areas with a major metropolitan hub. Electric intercity buses are propelled by a combination of motor and batteries and a set of other supporting electronic and electrical components.
• The high connectivity of intercity bus in distant remote locations, high frequency, and other such benefits have fueled the demand for intercity bus services

Key Drivers of Electric Intercity Bus Market

• Rise in fertility rate, life expectancy, and slowed death rate have driven the global population. This rapid increase in population across the globe is one of the prominent factors boosting traveling activities worldwide. Therefore, more number of people of commute on regular basis for work, education, and other purposes. Moreover, the travel and tourism sector is expanding with an increasing number of locals as well as international tourists. This boosts the demand for reliable public transportation service that has deep connectivity in remote locations, has less waiting times, and is cost-effective. Electric intercity buses cater to all the aforementioned requirements and hence, governments and private transportation companies are increasingly investing in these buses. Furthermore, commercial vehicle manufacturers are launching new models of electric intercity buses in order to cater to this growing demand. For instance, Motor Coach Industries launched battery-electric luxury coach in the market in North America in May 2021. Thus, a rise in the demand for reliable transportation services amidst the rising population expanding tourism sector is propelling the global electric intercity bus market.
• Increasing urbanization across the globe is also one of the prominent factors increasing travel among the population. According to statistics published by the United Nations in 2018, approximately 55% of world’s population resided in urban areas, which is projected to increase to more than 68% by 2050. This rise in urban population is fueling the number of on-road vehicles and has led to traffic congestions and high emissions. Consequently, more number of people are preferring electric intercity bus transportation in order to avoid the hassle of driving in congested streets and reduce vehicle emissions. This growing awareness about the environment and preference of travelers for comfortable journeys is driving the electric intercity bus market across the globe.

Restrains in Electric Intercity Bus Market

• Electric vehicle technology has not attained complete maturity and hence, the range of vehicles is limited. Moreover, the charging infrastructure of electric vehicles is not developed in several countries, especially on highways and in rural areas. These factors restrain the global electric intercity bus market.

Impact of COVID-19 Pandemic on Electric Intercity Bus Market

• The recent outbreak of COVID-19 pandemic disrupted automotive supply chains hampered the sale of vehicles across the globe. This pandemic has also created a sentiment of hygiene and health awareness amongst people due to which people are preferring private vehicles over public transportation to avoid crowds and risk getting infected with coronavirus. This drop in vehicle production and sales coupled with change in travel patterns amidst COVID-19 pandemic is hampering the growth of global electric intercity bus market.

Asia Pacific to Hold Significant Share of Global Electric Intercity Bus Market

• Asia Pacific contributes to a significant share of the global electric intercity bus market due to a well-established and expanding automotive industry in this region. Countries such as China, Japan, India, and South Korea are leading automobile manufacturers who account for more than 35% of the total global automobile production. Furthermore, the high population in Asia Pacific coupled with poor connectivity of railways and airways is driving the demand for intercity bus transportation and subsequently, propelling the electric intercity bus market in the region.

Key Players Operating in Electric Intercity Bus Market

The global electric intercity bus market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the electric intercity bus market are:

• AB Volvo
• BYD Company Ltd.
• Ebusco
• EvoBus GmbH
• Mitra Mobility Solution
• Motor Coach Industries (MCI)
• PT MOBIL ANAK BANGSA (MAB)
• Scania
• Solaris Bus & Coach sp. z o.o.
• YANGZHOU ASIASTAR BUS CO., LTD.
• Yinlong
• YUTONG

Global Electric Intercity Bus Market: Research Scope

Global Electric Intercity Bus Market, by Bus Type

• Battery Electric Bus
• Plug-in Hybrid Bus
• Hybrid Bus

Global Electric Intercity Bus Market, by Component

• Electric Motor
• Batteries
• Transmission System
• Hydrogen Fuel Cell
• Others

Global Electric Intercity Bus Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Nordic Region
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa