According to the research report titled ‘Global Electric Bus Market (Value, Volume) - Analysis By Propulsion Type (Battery, Hybrid, Fuel Cell), Consumer, By Region, By Country (2022 Edition): COVID-19 Implications, Competition, and Forecast (2022-2027)’, available with MarketStudyReport, global electric bus market was worth USD 33.72 billion in 2021 and is anticipated to garner lucrative returns by the year 2027.

Growing adoption of fuel cell electric buses in highly populous nations, rising disposable income, as well as technical advancements leading to increased usage of electric components in vehicles are the major growth determinants for global electric bus market.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4967865/

Furthermore, increasing penetration of fuel cell electric buses and battery electric buses in operator fleet and government sectors, along with precedence of strict environmental laws in various parts of the world are expected to augment industry trends in the coming years.

Based on propulsion type, the market is divided into hybrid, battery, and fuel cell. Among these, battery segment is anticipated to showcase impressive growth curve during the forecast period, due to greater concentration of electric bus manufacturers around the globe.

In terms of consumer ambit, worldwide electric bus industry sphere is split into government, and fleet operator. Out of which, government segment is predicted to hold substantial revenue share over the analysis period, owing to focus on providing greater comfort and convenience of transportation to commuters.

Speaking of regional landscape, the industry spans across North America (Canada, U.S.), Europe (Germany, France, UK, Norway), and Asia Pacific (India, China, Japan, South Korea).

Among these, Asia Pacific market is poised to grow tremendously over 2022-2027, on account growing disposable income of individuals, rising urban population, and increasing popularity of electronic technologies in different countries.  Escalating demand to improve quality by eliminating errors and reducing variability for better comfortability, as well as higher concentration of ODMs and OEMs in the region are further swaying the business dynamics.

The key players in global electric bus market are Xiamen King Long United Automotive Industry Co., Ltd., Proterra Inc., Scania AB, Daimler AG, NFI Group, The Volvo Group, VDL Groep, CAF, Forsee Power, and BYD Auto Co., Ltd.