5th Floor, Brigade Towers,
Financial District, Gachibowli,
Hyderabad - 500032,
The China Electric Bus Market is segmented by Vehicle Type (Battery Electric Bus and Plug-in Hybrid Electric Bus) and Consumer Type (Government and Fleet Operators).
The Chinese electric bus market is expected to register a CAGR of 12.86% during the forecast period, 2019-2024. The country has been witnessing significant growth in the demand for electric vehicles (EV), owing to the growing need for addressing future energy requirements.
The Chinese electric bus market is segmented by vehicle type and consumer type.
|By Vehicle Type|
|Battery Electric Bus|
|Plug-in Hybrid Electric Bus|
|By Consumer Type|
Report scope can be customized per your requirements. Click here.
Buses are a significant mode of public transport around the world. According to a study, 1,000 electric buses can displace 500 barrels of diesel demand each day. Additionally, as per a new report by Bloomberg New Energy Finance, China electric-bus revolution may reduce oil demand in future, with 6.4 million barrels a day displaced by electric vehicles by 2040.
The Chinese government has initiated numerous policies to promote electric vehicles, with an aim to minimize exhaust emissions. For instance, in China, the Ministry of Transport (MOT) provides subsidies and tax benefits to electric automobile manufacturers for the development of low-emission bus fleet.
China has been one of the few developing countries that have been taking initiatives to curb vehicular pollution with the introduction of electric buses. By 2019, it is expected that 25% of the state government vehicle purchases of electric buses in China may feature zero-emission technology.
To understand key trends, Download Sample Report
With the growing focus for replacing IC engine vehicles with battery-powered vehicles, Shenzhen is leading the country and has also become the world's first city with an entire bus fleet that runs on electricity. As per the city authorities, they received significant support from the Chinese government, along with funding. As of December 2018, all 16,000 buses in the city were electric, and it is expected that soon all 22,000 taxis are likely to be converted into electric taxis.
For achieving the complete electric fleet goal, a Shenzhen public bus operator was granted a total of CNY 500,000 (USD 72,150) worth of subsidies every year for each vehicle that it runs. Additionally, CNY 400,000 was granted from Shenzhen authorities and CNY 100,000 from the central government per vehicle to encourage the use of e-bus nationwide.
Shenzhen Bus Group estimated that it has been able to conserve 160,000 metric ton of coal per year and has reduced annual CO2 emissions by 440,000 metric ton. It also reduced the fuel consumption by 50%.
To understand geography trends, Download Sample Report.
The electric bus market in the country is dominated by major players, like BYD, Zhongtong Bus Holding Co. Ltd, Volvo, and Suzhou Eagle Electric Vehicle. Among them, BYD continues to rank top in the market studied, owing to its increasing orders for electric bus from the domestic, as well as international markets. For instance, in the domestic market, in 2018, BYD received the highest order to build 4,473 electric buses for Guangzhou city, under the tender of total 4,810 electric buses, set up by the Guangdong Machinery and Electric Equipment Tendering Center Co. Ltd and Guangzhou Guoke Bidding Agent Co. Ltd.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Vehicle Type
5.1.1 Battery Electric Bus
5.1.2 Plug-in Hybrid Electric Bus
5.2 By Consumer Type
5.2.2 Fleet Operators
6. ANALYSIS OF THE MARKET ACROSS PROVINCES OF CHINA (INCLUDES A BRIEF ANALYSIS ON VARIOUS TRENDS AND ACTIVITIES ACROSS DIFFERENT PROVINCES OF CHINA THAT MAY IMPACT THE GROWTH OF ELECTRIC BUSES)
7. COMPETITIVE LANDSCAPE
7.1 Vendor Market Share
7.2 Mergers and Acquisitions
7.3 Company Profiles
7.3.1 BYD Auto Co. Ltd
7.3.3 Anhui Ankai Automobile
7.3.4 King Long
7.3.6 Nanjing Jiayuan EV
7.3.7 Suzhou Eagle Electric Vehicle
7.3.8 Zhongtong Bus Holding Co. Ltd
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability