Study Period | 2017 - 2029 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2029 |
Market Size (2025) | USD 56.4 Billion |
Market Size (2029) | USD 116.5 Billion |
CAGR (2025 - 2029) | 19.88 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Electric Bus Market Analysis
The Electric Bus Market size is estimated at 56.4 billion USD in 2025, and is expected to reach 116.5 billion USD by 2029, growing at a CAGR of 19.88% during the forecast period (2025-2029).
The electric bus market is experiencing a transformative shift driven by stringent environmental regulations and technological advancements in electric vehicle systems. Government bodies worldwide are implementing comprehensive policies to accelerate the adoption of zero-emission public transportation, with California leading the way through its Innovative Clean Transit Rule that mandates 25% of new bus purchases to be zero-emission vehicles. These regulatory frameworks are complemented by substantial investments in charging infrastructure and battery technology, creating a robust ecosystem for electric bus market deployment. The industry is witnessing increased collaboration between traditional bus manufacturers and technology companies, resulting in more efficient and cost-effective electric bus solutions.
Manufacturing capabilities are evolving rapidly to meet the growing demand for electric buses, with electric bus manufacturers focusing on developing advanced production facilities and streamlining supply chains. Original Equipment Manufacturers (OEMs) are expanding their product portfolios to include various electric bus models suited for different operational requirements, from urban transit to long-distance travel. The industry is seeing significant improvements in battery technology and charging systems, enabling longer operating ranges and faster charging times. These technological advancements are making electric buses increasingly viable for diverse public transportation applications.
Public transit authorities are demonstrating strong commitment to fleet electrification, as evidenced by ambitious procurement plans across various regions. The Bangalore Metropolitan Transport Corporation's initiative to acquire 1,800 electric buses and Karnataka state's goal to transition its entire fleet of 6,500 buses to zero-emission vehicles by 2030 exemplify this trend. Transit agencies are increasingly recognizing the long-term operational and environmental benefits of electric buses, leading to larger procurement orders and more comprehensive fleet electrification strategies. This shift is supported by improving infrastructure and growing expertise in electric bus operations.
The industry is witnessing a notable trend toward standardization and interoperability in charging infrastructure and battery systems. Electric bus manufacturers are working to develop common platforms and standardized components, which is essential for reducing costs and improving maintenance efficiency. Cities and transit authorities are implementing comprehensive planning approaches that consider not only vehicle procurement but also depot modifications, workforce training, and route optimization for electric buses. California's ambitious plan to electrify its entire fleet of 12,000 city buses by 2040 demonstrates the scale of transformation occurring in public transportation systems, setting a benchmark for other regions to follow.
Global Electric Bus Market Trends
The rising global demand and government support propel electric vehicle market growth
- Electric vehicles (EVs) have become indispensable in the automotive industry, driven by their potential to enhance energy efficiency and reduce greenhouse gas and pollution emissions. This surge is primarily attributed to growing environmental concerns and supportive government initiatives. Notably, global EV sales witnessed a robust 10.82% growth in 2022 compared to 2021. Projections indicate that annual sales of electric passenger cars will surpass 5 million by the end of 2025, accounting for approximately 15% of total vehicle sales.
- Leading manufacturers and organizations, like the London Metropolitan Police & Fire Service, have been actively pursuing their electric mobility strategies. For instance, they have set a target of a zero-emission fleet by 2025, with a goal of electrifying 40% of their vans by 2030 and achieving full electrification by 2040. Similar trends are expected globally, with the period from 2024 to 2030 witnessing a surge in demand and sales of electric vehicles.
- Asia-Pacific and Europe are poised to dominate electric vehicle production, driven by their advancements in battery technology and vehicle electrification. In May 2020, Kia Motors Europe unveiled its "Plan S," signaling a strategic shift toward electrification. This decision came on the heels of record-breaking sales of Kia's EVs in Europe. Kia has ambitious plans to introduce 11 EV models globally by 2025, spanning various segments like passenger vehicles, SUVs, and MPVs. The company aims to achieve annual global EV sales of 500,000 by 2026.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Africa's demographic evolution demonstrates consistent growth with a notable acceleration in recent years
- Several European countries are facing population declines, while others are growing, indicating a need for targeted policy interventions
- North America's demographic story highlights steady growth and adaptability, with each nation contributing uniquely to the region's vibrant mosaic, underlining its continued global significance
- Despite a GDP per capita decline in 2022-2023, Africa shows potential for future economic stability through trade agreements and infrastructure development
- Europe's GDP per capita is on track for steady growth, reflecting resilience and strategic policies
- Despite challenges in 2020, by 2023, the US experienced growth, Mexico displayed a robust recovery, while Canada witnessed a dip
- South Africa's consumer vehicle population shows signs of stabilization
- European countries are experiencing growth in CVP, driven by government incentives for eco-friendly vehicles
- North America exhibits diverse trends in CVP, with Canada experiencing a slight decrease, the US seeing an increase, and Mexico showing significant growth
- South Africa, Kenya, and Morocco exhibit declining inflation rates, while Nigeria faces a sharp inflation increase
- Europe is poised for economic stability, with concerted efforts to manage inflation and foster a balanced economic landscape
- From 2017 to 2023, North America, particularly countries like the US and Canada, navigated inflationary spikes, especially post-pandemic in 2022
- Auto interest rates across Africa, Asia-Pacific, and North America showed significant regional diversity, influenced by a combination of economic policies, market dynamics, and global conditions
- The global MaaS market is growing significantly growth trajectory, indicating sustained expansion across all regions
- Battery pack prices in Africa continued to decline from USD 186 in 2022 to USD 176 in 2023, driven by technological advancements and increased market competition
- Declining battery prices and government initiatives drive demand for electric vehicles in Europe
- Declining prices of lithium-ion batteries drive the demand for electric vehicles in North America
- The global automotive industry will undergo a transformative phase, with a pronounced shift toward electrification from 2023 to 2025, followed by a period of refinement and consolidation in the subsequent years
- The auto industry's production landscape is witnessing a dramatic shift, with electric vehicle manufacturers like BYD Auto and Tesla seeing remarkable growth while traditional giants like GM adapt to changing market demands
- Countries like Australia, India, and Indonesia project a steady upward trajectory in GDP per capita, suggesting robust economic strategies and potential investment in the automotive industries
- Saudi Arabia and UAE, both pivotal nations in the Middle East, demonstrated population growth from 2017 to 2023. While there were slight dips for both countries in between, the overarching upward trend indicates their significant roles and attractions in the region
- South America's demographic narrative, represented by Brazil and Colombia, showcases a story of consistent growth, with Brazil experiencing a pronounced surge
- Asia-Pacific displays a panorama of economic evolution: from the relentless pursuits of emerging economies to the recalibrations of established ones, painting a picture of resilience, adaptation, and ambition
- Projections for the coming years indicate a steady growth trajectory for both the UAE's diversified sectors and its role as a regional business hub. This growth can be attributed to the country's focus on diversification efforts and strategic partnerships
- During 2017-2030, Brazil and Colombia displayed contrasting economic paths. While both faced downturns around 2020, Brazil's GDP per capita showed recovery by 2023, whereas Colombia witnessed a slight decline
- The Asia-Pacific's diverse consumer spending trends on vehicle purchases not only reflect the region's evolving economic conditions but also highlight the shifting consumer preferences and vehicular market dynamics across countries
- In the short term (2022-2023), Saudi Arabia maintained stable consumer spending for vehicle purchases, while the UAE experienced a slight decline, suggesting differing market dynamics
- Brazil and Colombia are expected to see an increase in consumer spending for vehicle purchases (CVP), indicating a recovering automotive market and growing consumer confidence
- Asia-Pacific’s varied inflation rates reflect the diverse economic challenges and responses of each nation, from battling pandemic-induced fluctuations to aiming for future stability through strategic economic policies
- From 2017 to 2030, the Middle East is expected to display varied inflationary patterns, with countries like Iran facing significant challenges, while others like Saudi Arabia and the UAE expected to show stability
- Projections indicate a trend toward economic stabilization and controlled inflation in the region, highlighting a concerted push to restore equilibrium and foster growth
- The global MaaS market is growing significantly growth trajectory, indicating sustained expansion across all regions
- Global efforts to expand and enhance EV infrastructure are signaling a collective push toward electrification
- The demand for EVs in Asia-Pacific is fueled by falling battery prices
- The Middle East's battery market: A continuous descent in prices and promising energy trends
- South America’s surging demand for electric vehicle batteries: falling costs and strategic alliances
- For over a year, Russia's invasion of Ukraine disrupted global crude oil and petroleum product markets
Segment Analysis: Fuel Category
BEV Segment in Electric Bus Market
Battery Electric Vehicles (BEV) continue to dominate the global electric bus market, commanding approximately 91% market share in 2024. This overwhelming dominance can be attributed to several factors, including extensive government support through subsidies and incentives, well-developed charging infrastructure networks across major markets, and increasing consumer preference for zero-emission public transportation solutions. The segment's growth is further bolstered by technological advancements in battery technology, leading to improved range capabilities and reduced charging times. Major cities worldwide are increasingly adopting BEV buses as part of their sustainable urban mobility initiatives, with manufacturers responding by expanding their product portfolios and production capabilities to meet this rising demand.

FCEV Segment in Electric Bus Market
The Fuel Cell Electric Vehicle (FCEV) segment is emerging as the fastest-growing category in the electric bus market, with a projected growth rate of approximately 30% from 2024 to 2029. This remarkable growth trajectory is driven by rapid advancements in hydrogen fuel cell technology, increased investment in hydrogen infrastructure development, and growing recognition of FCEVs as a viable solution for long-range public transportation. The segment is witnessing increased adoption particularly in regions with established hydrogen infrastructure, with several municipalities and transport authorities conducting pilot programs and fleet trials. Manufacturers are investing heavily in research and development to improve fuel cell efficiency and reduce production costs, while governments worldwide are implementing supportive policies to accelerate FCEV adoption in public transportation.
Remaining Segments in Fuel Category
The Hybrid Electric Vehicle (HEV) and Plug-in Hybrid Electric Vehicle (PHEV) segments represent important transitional technologies in the electric bus models. These segments serve as stepping stones for operators looking to gradually shift from conventional diesel buses to fully electric solutions. HEVs offer improved fuel efficiency and reduced emissions while maintaining operational flexibility, making them particularly attractive in regions with developing charging infrastructure. PHEVs provide the dual advantage of pure electric operation for shorter urban routes while maintaining extended range capabilities through their hybrid powertrains, offering a practical solution for diverse operational requirements. Both segments continue to play crucial roles in markets where full electrification faces infrastructure or range anxiety challenges.
Electric Bus Market Geography Segment Analysis
Electric Bus Market in Africa
The African electric bus market demonstrates significant potential for growth, driven by increasing urbanization and a growing emphasis on sustainable transportation solutions. The region's transition toward electric mobility is supported by various government initiatives and international collaborations aimed at reducing carbon emissions in public transportation. South Africa leads the continent's efforts in electric bus adoption, with several pilot projects and demonstrations showcasing the viability of electric buses in African urban environments. The market is further strengthened by partnerships between local operators and international electric bus manufacturers, facilitating technology transfer and local capacity building.

Electric Bus Market in Asia-Pacific
The Asia-Pacific region stands at the forefront of the global bus market, characterized by robust government support, technological innovation, and increasing environmental awareness. Countries like China, India, Japan, and South Korea are making significant strides in electric bus adoption, supported by comprehensive policy frameworks and investment in charging infrastructure. The region's market is driven by factors such as urbanization, government regulations for emission reduction, and growing public awareness about environmental sustainability.
Electric Bus Market in China
China maintains its position as the dominant force in the Asia-Pacific electric bus market, with approximately 80% market share in 2024. The country's leadership is reinforced by its comprehensive suite of national and regional policies focused on new energy vehicles (NEVs), including electric buses. China has initiated ambitious pilot projects to electrify its public sector vehicles, with targets set for 2025 that mandate 80% of new buses, taxis, and urban logistics vehicles to be NEVs. The nation's success is supported by strong domestic manufacturing capabilities, established supply chains, and extensive charging infrastructure networks.
Electric Bus Market in India
India emerges as the fastest-growing market in the Asia-Pacific region, with a projected growth rate of approximately 24% from 2024 to 2029. The country's electric bus market is experiencing rapid expansion, driven by comprehensive government support through initiatives like the FAME II (Faster Adoption and Manufacturing of Electric Vehicles) scheme. The nation's commitment to sustainable urban mobility is evident in its aggressive targets for public transport electrification, supported by substantial investments in charging infrastructure and local manufacturing capabilities. Major cities across India are increasingly transitioning their public transport fleets to electric buses, creating a robust ecosystem for market growth.
Electric Bus Market in Europe
The European electric bus market demonstrates strong momentum, driven by stringent emission regulations and comprehensive support mechanisms at both EU and national levels. Countries including France, Germany, Italy, Spain, and the UK are actively transitioning their public transport fleets to electric alternatives, supported by substantial government incentives and environmental policies. The region's commitment to sustainable urban mobility is reflected in the increasing number of cities implementing zero-emission zones and sustainable urban mobility plans.
Electric Bus Market in Germany
Germany leads the European electric bus market, demonstrating strong commitment to sustainable public transportation through comprehensive policy support and infrastructure development. The country's success is built on its robust automotive manufacturing base, extensive research and development capabilities, and strong government backing for electric mobility initiatives. German cities are at the forefront of electric bus adoption, with many municipalities setting ambitious targets for fleet electrification and implementing innovative solutions for charging infrastructure.
Electric Bus Market in UK
The United Kingdom emerges as the fastest-growing market in Europe, showcasing remarkable progress in electric bus adoption and infrastructure development. The country's success is driven by ambitious government policies, including plans to phase out non-zero emission buses and substantial investments in charging infrastructure. British cities are increasingly embracing electric buses as part of their sustainable transport strategies, supported by strong partnerships between local authorities and electric bus manufacturers.
Electric Bus Market in Middle East
The Middle Eastern electric bus market is experiencing significant transformation, with countries increasingly focusing on sustainable transportation solutions as part of their economic diversification strategies. The UAE leads the region's electric bus adoption, while also showing the fastest growth rate, driven by ambitious smart city initiatives and sustainable transport goals. The region's market development is supported by significant investments in charging infrastructure and partnerships with international manufacturers, while growing environmental awareness and government support continue to drive market expansion.
Electric Bus Market in North America
The North American electric bus market demonstrates strong growth potential, driven by federal and state-level initiatives supporting zero-emission public transportation. The United States leads the region's market and shows the fastest growth, supported by substantial government funding and ambitious environmental targets. Canada and Mexico are also making significant strides in electric bus adoption, with various cities implementing pilot programs and expanding their electric bus fleets. The region's market is characterized by strong partnerships between manufacturers and transit authorities, coupled with increasing investments in charging infrastructure.
Electric Bus Market in South America
The South American electric bus market is witnessing steady growth, driven by increasing urbanization and government initiatives to reduce transportation emissions. Brazil emerges as both the largest and fastest-growing market in the region, supported by comprehensive government policies and strong manufacturer presence. Countries like Argentina are also making significant progress in electric bus adoption, with various cities implementing pilot projects and expanding their electric bus fleets. The region's market development is further supported by international partnerships and increasing investments in charging infrastructure.
Electric Bus Industry Overview
Top Companies in Electric Bus Market
The electric bus manufacturers market is characterized by intense competition driven by continuous product innovation and technological advancement. Companies are heavily investing in research and development to enhance battery technology, improve driving range, and develop smart connectivity features. Operational agility has become paramount, with manufacturers streamlining production processes and establishing flexible manufacturing facilities to meet varying regional demands. Strategic partnerships with technology providers, charging infrastructure companies, and local transportation authorities have emerged as a key trend to strengthen market presence. Companies are also focusing on geographical expansion through joint ventures and local manufacturing facilities, particularly in emerging markets. The industry witnesses frequent collaborations between traditional automotive manufacturers and electric vehicle specialists to combine their expertise in vehicle manufacturing and electric powertrain technology.
Market Dominated by Regional Manufacturing Giants
The electric bus companies market exhibits a moderate level of consolidation, with Chinese manufacturers holding significant market share globally. These companies leverage their extensive manufacturing capabilities, government support, and domestic market advantage to maintain their leadership position. Traditional automotive conglomerates have established dedicated electric vehicle divisions or subsidiaries to compete in this growing market, while specialized EV bus manufacturers are gaining ground through innovative technology solutions and focused market strategies. The industry is witnessing increased participation from both global automotive giants and local specialists, creating a dynamic competitive environment.
The market is characterized by strategic mergers and acquisitions aimed at technology acquisition and market expansion. Established players are acquiring innovative startups to enhance their technological capabilities, particularly in areas such as battery management systems and autonomous driving features. Regional players are forming strategic alliances with global companies to gain access to advanced technology and international markets. The industry also sees vertical integration efforts, with manufacturers establishing control over critical components supply chains, particularly in battery production and electric drivetrain systems.
Innovation and Adaptability Drive Future Success
Success in the electric bus market increasingly depends on manufacturers' ability to offer comprehensive mobility solutions rather than just vehicles. Incumbent players must focus on developing advanced battery technology, expanding charging infrastructure networks, and providing integrated fleet management solutions to maintain their market position. Companies need to establish strong relationships with public transport authorities and private fleet operators while offering flexible financing options and maintenance services. Regulatory compliance, particularly regarding emissions standards and safety requirements, has become a critical factor in maintaining market share.
New entrants and challenger brands can gain ground by focusing on specific market segments or regional opportunities while offering innovative solutions to address unique customer needs. Success factors include developing cost-effective manufacturing processes, establishing reliable supply chains, and creating strong after-sales service networks. Companies must also consider the growing influence of government policies and incentives in shaping market dynamics, particularly in regions transitioning to zero-emission public transportation. The ability to adapt to evolving customer preferences, such as the demand for longer range and faster charging capabilities, while maintaining competitive pricing will be crucial for long-term success in this market. Notably, the largest electric bus manufacturers are setting benchmarks in these areas, influencing market trends globally.
Electric Bus Market Leaders
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Chery Automobile Co. Ltd.
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Chongqing Changan Automobile Company Limited
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Daimler Truck Holding AG
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Volvo Group
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Zhejiang Geely Holding Group Co. Ltd
- *Disclaimer: Major Players sorted in no particular order
Electric Bus Market News
- September 2023: Daimler Buses launched the next generation Setra TopClass and ComfortClass touring coaches that meet the highest standards of safety, economy, and flexibility.
- September 2023: Volvo Energy signed a letter of intent with Connected Energy with the ambition to jointly develop a battery energy storage system (BESS).
- September 2023: Yutong announced that it held a shipping ceremony for 87 apron buses exported from China to Saudi Arabia in the Yutong New Energy Plant. It is the largest batch of apron buses exported from China.
Free With This Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
Electric Bus Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
-
4.1 Population
- 4.1.1 Africa
- 4.1.2 Asia-Pacific
- 4.1.3 Europe
- 4.1.4 Middle East
- 4.1.5 North America
- 4.1.6 South America
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4.2 GDP Per Capita
- 4.2.1 Africa
- 4.2.2 Asia-Pacific
- 4.2.3 Europe
- 4.2.4 Middle East
- 4.2.5 North America
- 4.2.6 South America
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4.3 Consumer Spending For Vehicle Purchase (cvp)
- 4.3.1 Africa
- 4.3.2 Asia-Pacific
- 4.3.3 Europe
- 4.3.4 Middle East
- 4.3.5 North America
- 4.3.6 South America
-
4.4 Inflation
- 4.4.1 Africa
- 4.4.2 Asia-Pacific
- 4.4.3 Europe
- 4.4.4 Middle East
- 4.4.5 North America
- 4.4.6 South America
- 4.5 Interest Rate For Auto Loans
- 4.6 Shared Rides
- 4.7 Shared Rides
- 4.8 Impact Of Electrification
- 4.9 EV Charging Station
-
4.10 Battery Pack Price
- 4.10.1 Africa
- 4.10.2 Asia-Pacific
- 4.10.3 Europe
- 4.10.4 Middle East
- 4.10.5 North America
- 4.10.6 South America
- 4.11 New Xev Models Announced
- 4.12 Fuel Price
- 4.13 Oem-wise Production Statistics
- 4.14 Regulatory Framework
- 4.15 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Fuel Category
- 5.1.1 BEV
- 5.1.2 FCEV
- 5.1.3 HEV
- 5.1.4 PHEV
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5.2 Region
- 5.2.1 Africa
- 5.2.1.1 South Africa
- 5.2.2 Asia-Pacific
- 5.2.2.1 China
- 5.2.2.2 India
- 5.2.2.3 Japan
- 5.2.2.4 South Korea
- 5.2.3 Europe
- 5.2.3.1 France
- 5.2.3.2 Germany
- 5.2.3.3 Italy
- 5.2.3.4 Spain
- 5.2.3.5 UK
- 5.2.3.6 Rest-of-Europe
- 5.2.4 Middle East
- 5.2.4.1 UAE
- 5.2.4.2 Rest-of-Middle East
- 5.2.5 North America
- 5.2.5.1 Canada
- 5.2.5.2 Mexico
- 5.2.5.3 US
- 5.2.6 South America
- 5.2.6.1 Argentina
- 5.2.6.2 Brazil
- 5.2.6.3 Rest-of-South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Anhui Ankai Automobile Co. Ltd.
- 6.4.2 Ashok Leyland Limited
- 6.4.3 Byd Auto Industry Company Limited
- 6.4.4 Chery Automobile Co. Ltd.
- 6.4.5 Chongqing Changan Automobile Company Limited
- 6.4.6 CRRC Electric Vehicle Co. Ltd.
- 6.4.7 Daimler Truck Holding AG
- 6.4.8 King Long United Automotive Industry Co. Ltd.
- 6.4.9 NFI Group Inc.
- 6.4.10 Proterra INC.
- 6.4.11 Tata Motors Limited
- 6.4.12 Volvo Group
- 6.4.13 Zhejiang Geely Holding Group Co. Ltd
- 6.4.14 Zhengzhou Yutong Bus Co. Ltd.
- 6.4.15 Zhongtong Bus Holding Co. Ltd.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- POPULATION TRENDS, VOLUME IN UNITS, AFRICA, 2017 - 2030
- Figure 2:
- POPULATION TRENDS, VOLUME IN UNITS, ASIA-PACIFIC, 2017 - 2030
- Figure 3:
- POPULATION TRENDS, VOLUME IN UNITS, EUROPE, 2017 - 2030
- Figure 4:
- POPULATION TRENDS, VOLUME IN UNITS, MIDDLE EAST, 2017 - 2030
- Figure 5:
- POPULATION TRENDS, VOLUME IN UNITS, NORTH AMERICA, 2017 - 2030
- Figure 6:
- POPULATION TRENDS, VOLUME IN UNITS, SOUTH AMERICA, 2017 - 2030
- Figure 7:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, AFRICA, 2017 - 2030
- Figure 8:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 9:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 10:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, MIDDLE EAST, 2017 - 2030
- Figure 11:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 12:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 13:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, AFRICA, 2017 - 2030
- Figure 14:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 15:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 16:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, MIDDLE EAST, 2017 - 2030
- Figure 17:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 18:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 19:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, AFRICA, 2017 - 2030
- Figure 20:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, ASIA-PACIFIC, 2017 - 2030
- Figure 21:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, EUROPE, 2017 - 2030
- Figure 22:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, MIDDLE EAST, 2017 - 2030
- Figure 23:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, NORTH AMERICA, 2017 - 2030
- Figure 24:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, SOUTH AMERICA, 2017 - 2030
- Figure 25:
- AUTO LOAN INTEREST RATES, PERCENTAGE, GLOBAL, 2017 - 2022
- Figure 26:
- ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, GLOBAL, 2017 - 2030
- Figure 27:
- CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, GLOBAL, 2017 - 2022
- Figure 28:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, AFRICA, 2017 - 2030
- Figure 29:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 30:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 31:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, MIDDLE EAST, 2017 - 2030
- Figure 32:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 33:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 34:
- ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, GLOBAL, 2023 - 2027
- Figure 35:
- FUEL PRICE, BY FUEL TYPE, USD/LITER, GLOBAL, 2017 - 2022
- Figure 36:
- GLOBAL ELECTRIC BUS MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 37:
- GLOBAL ELECTRIC BUS MARKET, VALUE IN USD, 2017 - 2030
- Figure 38:
- GLOBAL ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 39:
- GLOBAL ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 40:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 41:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 42:
- GLOBAL ELECTRIC BUS MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 43:
- GLOBAL ELECTRIC BUS MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 44:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 45:
- GLOBAL ELECTRIC BUS MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 46:
- GLOBAL ELECTRIC BUS MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 47:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 48:
- GLOBAL ELECTRIC BUS MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 49:
- GLOBAL ELECTRIC BUS MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 50:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 51:
- GLOBAL ELECTRIC BUS MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 52:
- GLOBAL ELECTRIC BUS MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 53:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 54:
- GLOBAL ELECTRIC BUS MARKET, BY REGION, BY VOLUME IN UNITS, 2017 - 2030
- Figure 55:
- GLOBAL ELECTRIC BUS MARKET, BY REGION, BY VALUE IN USD, 2017 - 2030
- Figure 56:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 57:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 58:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 59:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 60:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 61:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 62:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH AFRICA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 63:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH AFRICA, BY VALUE IN USD, 2017 - 2030
- Figure 64:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 65:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 66:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 67:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 68:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 69:
- GLOBAL ELECTRIC BUS MARKET, BY CHINA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 70:
- GLOBAL ELECTRIC BUS MARKET, BY CHINA, BY VALUE IN USD, 2017 - 2030
- Figure 71:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 72:
- GLOBAL ELECTRIC BUS MARKET, BY INDIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 73:
- GLOBAL ELECTRIC BUS MARKET, BY INDIA, BY VALUE IN USD, 2017 - 2030
- Figure 74:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 75:
- GLOBAL ELECTRIC BUS MARKET, BY JAPAN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 76:
- GLOBAL ELECTRIC BUS MARKET, BY JAPAN, BY VALUE IN USD, 2017 - 2030
- Figure 77:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 78:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 79:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2017 - 2030
- Figure 80:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 81:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 82:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 83:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 84:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 85:
- GLOBAL ELECTRIC BUS MARKET, BY FRANCE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 86:
- GLOBAL ELECTRIC BUS MARKET, BY FRANCE, BY VALUE IN USD, 2017 - 2030
- Figure 87:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 88:
- GLOBAL ELECTRIC BUS MARKET, BY GERMANY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 89:
- GLOBAL ELECTRIC BUS MARKET, BY GERMANY, BY VALUE IN USD, 2017 - 2030
- Figure 90:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 91:
- GLOBAL ELECTRIC BUS MARKET, BY ITALY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 92:
- GLOBAL ELECTRIC BUS MARKET, BY ITALY, BY VALUE IN USD, 2017 - 2030
- Figure 93:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 94:
- GLOBAL ELECTRIC BUS MARKET, BY SPAIN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 95:
- GLOBAL ELECTRIC BUS MARKET, BY SPAIN, BY VALUE IN USD, 2017 - 2030
- Figure 96:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 97:
- GLOBAL ELECTRIC BUS MARKET, BY UK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 98:
- GLOBAL ELECTRIC BUS MARKET, BY UK, BY VALUE IN USD, 2017 - 2030
- Figure 99:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 100:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 101:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2017 - 2030
- Figure 102:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 103:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 104:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 105:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 106:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 107:
- GLOBAL ELECTRIC BUS MARKET, BY UAE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 108:
- GLOBAL ELECTRIC BUS MARKET, BY UAE, BY VALUE IN USD, 2017 - 2030
- Figure 109:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 110:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-MIDDLE EAST, BY VOLUME IN UNITS, 2017 - 2030
- Figure 111:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-MIDDLE EAST, BY VALUE IN USD, 2017 - 2030
- Figure 112:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 113:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 114:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 115:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 116:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 117:
- GLOBAL ELECTRIC BUS MARKET, BY CANADA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 118:
- GLOBAL ELECTRIC BUS MARKET, BY CANADA, BY VALUE IN USD, 2017 - 2030
- Figure 119:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 120:
- GLOBAL ELECTRIC BUS MARKET, BY MEXICO, BY VOLUME IN UNITS, 2017 - 2030
- Figure 121:
- GLOBAL ELECTRIC BUS MARKET, BY MEXICO, BY VALUE IN USD, 2017 - 2030
- Figure 122:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 123:
- GLOBAL ELECTRIC BUS MARKET, BY US, BY VOLUME IN UNITS, 2017 - 2030
- Figure 124:
- GLOBAL ELECTRIC BUS MARKET, BY US, BY VALUE IN USD, 2017 - 2030
- Figure 125:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 126:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 127:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 128:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 129:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 130:
- GLOBAL ELECTRIC BUS MARKET, BY ARGENTINA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 131:
- GLOBAL ELECTRIC BUS MARKET, BY ARGENTINA, BY VALUE IN USD, 2017 - 2030
- Figure 132:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 133:
- GLOBAL ELECTRIC BUS MARKET, BY BRAZIL, BY VOLUME IN UNITS, 2017 - 2030
- Figure 134:
- GLOBAL ELECTRIC BUS MARKET, BY BRAZIL, BY VALUE IN USD, 2017 - 2030
- Figure 135:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 136:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-SOUTH AMERICA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 137:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-SOUTH AMERICA, BY VALUE IN USD, 2017 - 2030
- Figure 138:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 139:
- GLOBAL ELECTRIC BUS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 140:
- GLOBAL ELECTRIC BUS MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 141:
- GLOBAL ELECTRIC BUS MARKET SHARE(%), BY MAJOR PLAYERS
Electric Bus Industry Segmentation
BEV, FCEV, HEV, PHEV are covered as segments by Fuel Category. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.Fuel Category | BEV | ||
FCEV | |||
HEV | |||
PHEV | |||
Region | Africa | South Africa | |
Asia-Pacific | China | ||
India | |||
Japan | |||
South Korea | |||
Europe | France | ||
Germany | |||
Italy | |||
Spain | |||
UK | |||
Rest-of-Europe | |||
Middle East | UAE | ||
Rest-of-Middle East | |||
North America | Canada | ||
Mexico | |||
US | |||
South America | Argentina | ||
Brazil | |||
Rest-of-South America |
Market Definition
- Vehicle Type - The category includes Medium and Heavy Duty Buses.
- Vehicle Body Type - This include Bus category.
- Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
Keyword | Definition |
---|---|
Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.