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China Electric Bus Market

China Electric Bus Market by Technology (Pure Electric, Parallel Hybrid, Series Parallel Hybrid, Series Hybrid), by Size (Above 10 Meters, Below 10 Meters) - Market Size, Share, Development, Growth and Demand Forecast, 2013-2023

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Report Code: AT11295
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China Electric Bus Market Overview

China Electric bus market is expected to grow at a CAGR of 33.0% during the forecast period. Electric bus orders in China have been growing remarkably in recent years. The dramatic growth of electric bus market in China is chiefly attributed to the economic growth of the country and the flourishing concept of eco-friendly transport. The market in China is expected to register a double-digit growth to make shipment of over 5,000 thousand units of electric buses by 2025.

China is expected to account for more than 50% of the global electric bus market by the end of 2050. Out of the top 10 companies of electric buses across the globe, eight are based in China. In 2016, the Shenzhen city in China had 4,887 pure electric buses. The local government of this city plans to electrify all its city buses by the end of 2020, which will elevate the total number of electric buses to 16,493 in the city.

Electric bus adoption offers immense advantages in terms of energy conservation, cost saving and emission reduction. CO2 emission reduction in China is making it a leader in clean tech industries and flexing its muscles in terms of international climate leadership.

China Electric Bus Market Dynamics

Some of the major factors driving the growth of the Chinese electric bus market include economic progress of the country, rising government focus to fight global warming, and cut air pollution, along with reducing subsidies for fuel buses and growing subsidies for electric buses in the country. The increasing investment by organizations in the country is reinforced by governments, transportation agencies and venture capitalists. This is projected to drive the Chinese electric bus market in the years to come.

The roadblocks to the growth of the regional market include increasing popularity of buses fuelled with natural gases, high purchasing costs of electric buses as compared to traditional ones and high initial capital requirement to set up the manufacturing of electric buses.

China Electric Bus Market Competitiveness

China accounts for the largest electric bus market and it is the hub for electric bus manufacturers. To maintain the global leadership, the Chinese electric bus manufacturers are investing heavily in research and development. China has already developed the technologically advanced 5th generation electric buses. The Chinese government offered subsidies of $81,600 per bus in 2016, on the purchase of low emission buses.

China entered in bilateral partnerships on electric mobility with Europe and the U.S. in June 2011. Within this framework of inter-governmental collaboration, Chinese and German governments signed a memorandum of understanding leading to a strategic partnership. The partnership was aimed at increasing cooperation in different areas of electric mobility, especially its standardization and to strengthen collaboration between research centers, companies, and local governments.

Apart from AB Volvo, all other top players in the electric bus market, including Yutong Group, Shenzhen Wuzhoulong Motors Co. Ltd, FAW Group Corporation, and King Long United Automotive Industry Co. Ltd, generated larger part of their revenues from China, in 2016.

CHINA ELECTRIC BUS MARKET SEGMENTATION

By Technology

  • Pure Electric
  • Parallel Hybrid
  • Series Parallel Hybrid
  • Series Hybrid

By Size

  • Above 10 Meters
  •  
  • Below 10 Meters

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