NEW YORK, Feb. 25, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, U.S. electric bus market size is projected to reach $1,948.5 million by 2024, registering a CAGR of 18.5% during the forecast period. The growth of the market is primarily driven by several federal, regional, and state grants and incentive programs. In addition, low cost of ownership, coupled with low maintenance cost of electric bus, specially battery electric bus (BEB) is expected to benefit the market during the forecast period.
Request to get the sample pages of the report: https://www.psmarketresearch.com/market-analysis/us-electric-bus-market/report-sample
Based on vehicle type, the U.S. electric bus market has been categorized into BEB, plug-in hybrid electric bus (PHEB), and hybrid electric bus (HEB). HEB dominated the market in the historical period. However, the market for BEBs is expected to witness the fastest growth during the forecast period. Falling battery price, coupled with increasing range of these buses, supports their adoption in transit fleet.
On the basis of length, the U.S. electric bus market has been categorized into less than 40-foot and more than 40-foot buses. More than 40-foot bus is expected to remain larger category in the market, during the forecast period. Difference in fuel mileage between diesel hybrid and diesel buses favors hybrid technology for longer hybrid buses. A 60-foot articulated diesel hybrid bus has better fuel mileage as compare to diesel bus of the same size. In addition, longer electric buses make more sense for environmental protection than comparatively smaller buses.
On the basis of charging type, the U.S. electric bus market is categorized into plug-in, pantograph, and inductive. Among these, plug-in was the largest category, accounting for more than 75% revenue share in 2017, due to its early adoption in the country for personal transport vehicles. However, inductive charging type is anticipated to be the fastest growing category in the market during the forecast period.
Browse report overview with 41 tables and 25 figures spread through 101 pages and detailed TOC on "U.S. Electric Bus Market” at: https://www.psmarketresearch.com/market-analysis/us-electric-bus-market
BEBs are currently available in two generalized models: a short-range bus with a smaller on-board battery that requires more frequent, on-route charging; and an extended range bus with a larger on-board battery that is designed to charge more slowly overnight (depot charge BEB). While many of the early buses deployed were on-route charge buses, the most recent orders are for depot charge buses, as they have more similar operational characteristics to a diesel bus. As battery technology improves, so do depot charge bus ranges, enabling longer route coverage.
According to the National Transit Database, nearly 38% of the nation’s active diesel buses were manufactured prior to 2007 (the year in which more stringent diesel standards went into effect). An additional around 10.5% of the buses in fleet, were manufactured between 2007 and 2010, and have not been rebuilt, so they may not meet current standards for nitrogen oxide and hydrocarbon pollution.
Make enquiry before buying the report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=us-electric-bus-market
The U.S. electric bus market is still in its nascent phase, with the presence of few major players. Some of the major BEB manufacturers in the market are Proterra Inc., BYD Motors Inc., and NFI Group Inc. NFI Group Inc. and Gillig LLC are the two major HEB manufacturers. Other key players operating in the market include Blue Bird Corporation, Nova Bus Corporation, ELDORADO NATIONAL-CALIFORNIA Inc., and The Lion Electric Co.
More Reports by P&S Intelligence
U.S. Electric Bus Charging Station Market
The growth of the market is majorly driven by the increasing demand of electric buses by local transit agencies coupled with government favourable funding schemes to develop charging infrastructure in the country. Local governments with the help of federal and state governments, are integrating electric buses into their municipal or public transit fleets.
https://www.psmarketresearch.com/market-analysis/us-electric-bus-charging-station-market
Electric Bus Market
Global electric bus market is projected to reach 331,327 units by 2025, the growth of the market is majorly driven by stringent government norms and regulations on emissions, increasing government support for electric vehicles, and declining battery prices.
https://www.psmarketresearch.com/market-analysis/electric-bus-market
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com