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India Electric Bus Market Report 2021: Market to Increase from $94.3 Million in 2020 to $1.36 Billion by 2025
Dublin, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The "India Electric Bus Market Research Report: By Type (BEB, HEB), Length (Less Than 10 M, More Than 10 M), Battery (LFP, NMC), Application (Intercity, Intracity) - Industry Analysis and Growth Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Indian electric bus market value is predicted to increase from $94.3 million in 2020 to $1,364.4 million by 2025, at a 48.8% CAGR between 2021 and 2025.
In March 2019, the Indian government formally launched the second phase of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme. Further, in August 2019, the government announced plans to procure 5,585 electric buses, to help clean up the environment.
Another such initiative is the Green Mobility Scheme, under which the government will deploy 26,000 paratransit and regular alternative-fuel buses in 103 cities. Other than the central government, those of 26 states and union territories have submitted proposals to jointly deploy 14,988 of these clean-energy vehicles. Yet another such move benefitting the Indian electric bus market is the total funding of $4.6 billion announced for battery manufacturers, to boost domestic production.
The COVID-19 pandemic has dealt a severe blow to the global automotive industry due to the plant shutdowns and restricted trade. As a result, the Indian electric bus market is witnessing sluggish growth during these times, as the government measures taken to check the virus spread led to the suspension of manufacturing operations at auto plants. Moreover, as the focus of the central and state governments has been on COVID care, investments in the electric bus landscape have been reduced or postponed.
Presently, the lithium-iron phosphate (LFP) category dominates the Indian electric bus market, under the battery segment. These batteries are the safest and fastest-charging of all, which is why they remain popular among bus manufacturers and buyers.
Till now, the southern region has been the most prosperous for the companies in the Indian electric bus market because Hyderabad and Bengaluru were among the earliest cities in the country to use these automobiles. The first fleet of electric buses in the nation, 40 in total, was deployed in Telangana.
The Indian electric bus market will witness the fastest growth in the northern region on account of the continuous efforts of regional state governments to electrify their public transportation fleets. The Delhi-National Capital Region constantly ranks among the most polluted in the country, which is why the need for cleaner transportation is strong here.
Major manufacturers in the Indian electric bus market are
Ashok Leyland Limited
JBM Auto Limited
Solaris Bus & Coach S.A.
Deccan Auto Limited
Olectra Greentech Limited
Tata Motors Limited
Zhongtong Bus & Holding Company Limited
BYD Company Limited
Eicher Motors Limited
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
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 m
4.1.2.2 More than 10 m
4.1.3 By Battery
4.1.3.1 LFP
4.1.3.2 NMC
4.1.3.3 Others
4.1.4 By Application
4.1.4.1 Intercity
4.1.4.2 Intracity
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Rising number of collaborations between domestic players and foreign manufacturers
4.2.2 Drivers
4.2.2.1 Government schemes and regulations
4.2.2.2 Rise in domestic manufacturing
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
4.3 COVID-19 Impact on India EV Industry
Chapter 5. Government Policies and Schemes
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 Application
6.5 By Region
Chapter 7. India Electric Bus Market - Major States and Cities
7.1 Southern India
7.1.1 Bengaluru
7.1.2 Hyderabad
7.2 Northern India
7.2.1 Delhi
7.2.2 Lucknow
7.2.3 Indore
7.2.4 Jammu
7.2.5 Chandigarh
7.3 Eastern India
7.3.1 Kolkata
7.3.2 Guwahati
7.4 Western India
7.4.1 Mumbai
7.4.2 Ahmedabad
7.4.3 Jaipur
Chapter 8. Competitive Landscape
8.1 Market Share Analysis of Key Players
8.2 Tenders for Procurement of Electric Buses
8.3 Competitive Benchmarking of Key Players
8.4 Product Specifications and Sales of Various Bus Models
8.4.1 Tata Motors Limited
8.4.2 Olectra Greentech Limited
8.4.3 JBM Auto Ltd.
8.5 Strategic Developments of Key Players
8.5.1 Product Launches
8.5.2 Client Wins
8.5.3 Other Developments
Chapter 9. Company Profiles
9.1.1 Business Overview
9.1.2 Product and Service Offerings
9.1.3 Key Financial Summary
For more information about this report visit https://www.researchandmarkets.com/r/135p46
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