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The electric bus market size is forecast to increase by USD 21.00 billion at a CAGR of 16.3% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. The reduction in the price of lead-acid batteries used in electric buses is a major factor, making these vehicles more affordable for transit agencies and OEMs. Another trend is the increasing popularity of charging devices, such as wireless charging systems, which offer greater convenience and efficiency. However, the market faces challenges as well, including the declining number of public transport users and the high upfront cost of electric buses compared to hybrid and ICE-based buses. Urbanization and the need for sustainable transportation solutions are also driving demand for electric buses, making this an exciting and dynamic market to watch.
Furthermore, OEMs are responding by investing in research and development to improve battery technology, charging infrastructure, and vehicle performance. Overall, the market is poised for growth as it addresses the need for cleaner, more efficient transportation solutions in urban areas.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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