India Electric Bus Market Synopsis
India Electric Bus Market is estimated to register a sound growth in the country with the rising adoption of electric buses and replacement of diesel-based buses with electric ones. Additionally, the rise in the electric buses adoption in the country is boosting the development of charging infrastructure, leaving a positive impact on the market growth. The high carbon rate is a major concern for the country, hence electric buses have come up as the top solution in the transportation sector and are estimated to be one of the leading factors to fuel electric buses adoption.
According to 6Wresearch, the India Electric Bus Market size is augmented to gain traction during the forecast period 2023-2029. The market is securing tremendous growth on the back of rising infrastructure coupled with increasing numbers of charging stations to power electrical batteries overnight which is essential for electrical vehicles for uninterruptible mobility which tends to increase the deployment of electric buses and would spur the market in the coming years. Additionally, a rise in the elimination rate of diesel engines which are emitting harmful substances along with raising the concerns for cyclists and pedestrians coupled with increasing adoption of electric buses would proliferate the potential growth of India electric bus market. These are some growth proliferating factors simultaneously boosting the India Electric Bus Market share at a massive rate.
COVID-19 Impact on the India Electric Bus Market
The COVID-19 had a significant impact on the India Electric Bus Market which is a part of the Asia Pacific electric bus market. The lockdowns and restrictions in the country led to a decrease in public transportation demand, including buses. In addition to this, supply chain disruption resulted in a major delay in manufacturing, which further led to a reduction in the delivery of electric buses.
Key Players of the India Electric Bus Market
Below mentioned are some leading key players in the country shaping the market growth with their continuous efforts.
- Tata Motors
- Ashok Leyland
- Mahindra Electric
- BYD India
- Volvo Buses India
- JBM Auto
Government Initiatives Introduced in the India Electric Bus Market
The government is encouraging the electric buses use in the country, hence has introduced many favourable policies & programmes including priority Lanes, where some cities have created bus lanes with the purpose of improving operations and efficiency, encouraging more people to use public transportation. Additionally, the government are investing in the development of vehicle charging infrastructure, especially in key areas like bus stops and public places to achieve seamless electric bus operations. Smart City mission is one of the leading missions boosting the electric buses use, which allows to decrease carbon footprints and make the country more sustainable.
Key attractiveness of the report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022.
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Historical Data of India Electric Bus Market Revenues, by End Users, for the Period 2019-2019
- Key Strategic Recommendations
- India Electric Bus Market Size and India Electric Bus Market Forecast Revenues until 2029
- India Electric Bus Market Overview on Competitive Benchmarking
- India Electric Bus Market Forecast
- Historical Data of India Electric Bus Market Revenues and Volume, by Charging Infrastructure, for the Period 2019-2019
- India Electric Bus Market Share, by Regions
- Historical Data of India Electric Bus Market Revenues and Volume for the Period 2019-2019
- India Electric Bus Market Share, by Companies
- Market Size & Forecast of India Electric Bus Market Revenues, by End Users, until 2029
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