Indian Electric Bus Market To Generate $1,364.4 Million Revenue By 2025

By Author: Pramod Kumar
Total Articles: 97
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In March 2019, the Indian government formally launched the second phase of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme. Further, in August 2019, the government announced plans to procure 5,585 electric buses, to help clean up the environment.
Another such initiative is the Green Mobility Scheme, under which the government will deploy 26,000 paratransit and regular alternative-fuel buses in 103 cities. Other than the central government, those of 26 states and union territories have submitted proposals to jointly deploy 14,988 of these clean-energy vehicles. Yet another such move benefitting the Indian electric bus market is the total funding of $4.6 billion announced for battery manufacturers, to boost domestic production.

Key Highlights of India Electric Bus Market

• BEBs to continue to witness higher sales in coming years
• Nickel­–metal hydride (NMC) batteries to gain rapid popularity
• Government initiatives biggest reason for market growth
• Highest demand for electric buses witnessed in South India
• Northern states rapidly ...
... procuring clean-energy buses
• Automakers launching buses with longer driving range

The COVID-19 pandemic has dealt a severe blow to the global automotive industry due to the plant shutdowns and restricted trade. As a result, the Indian electric bus market is witnessing sluggish growth during these times, as the government measures taken to check the virus spread led to the suspension of manufacturing operations at auto plants. Moreover, as the focus of the central and state governments has been on COVID care, investments in the electric bus landscape have been reduced or postponed.

Presently, the lithium–iron phosphate (LFP) category dominates the Indian electric bus market, under the battery segment. These batteries are the safest and fastest-charging of all, which is why they remain popular among bus manufacturers and buyers.

Till now, the southern region has been the most prosperous for the companies in the Indian electric bus market because Hyderabad and Bengaluru were among the earliest cities in the country to use these automobiles. The first fleet of electric buses in the nation, 40 in total, was deployed in Telangana.

The Indian electric bus market will witness the fastest growth in the northern region on account of the continuous efforts of regional state governments to electrify their public transportation fleets. The Delhi–National Capital Region constantly ranks among the most polluted in the country, which is why the need for cleaner transportation is strong here.

Market Overview@ https://www.psmarketresearch.com/market-analysis/india-electric-bus-market

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.