Electric Bus Market Trends
Rapid growth in population and constant degradation of the environment has caused many issues for urbanization. The birth cause behind this situation is air and noise pollution. Increased usage of vehicles means an increase in fuel consumption, exotic road traffic, road safety concerns, and traffic noise which ultimately affects global warming. Thus, public transport is an essential component for the deduction of all these urban issues. Public transportation buses play a key role in this state of concern. The discovery of the electronic bus is one of the best solutions for all these problems.
From the past few years if we see there is a measurable change in attitude towards electric vehicles. More than two million cars were sold last year, overturning the sale in the year 2018 which was more than one million. This proves the automotive industry globally is at the point of its most important revolution. Raising anxiety of environment and energy-saving pushed the advancement in automotive technology for the development of electrification, use of digitalization. This technical evaluation is a motivation for invention in the automotive industry and increasing the customer’s expectation.
In the coming year’s electric bus usage will increase, we can constitute two key factors for this, one is the government policies and regulation, and the second one is customer demand. Major economy government has announced tax exemption on electric vehicle production with other perquisites. In European Countries, Paris is proposing to ban all diesel vehicles from the city area by 2030, the United Kingdom also intends to introduce Zero Emission Zones (ZEZs) from 2025. Whereas in Asia, Beijing has already started examining and restricting non-electric vehicle registrations.
Even though the government is aggressive in the adoption of Electric bus usage, there is a lack of customer interest due to the technology barrier. The battery charging time is also one of the reasons behind lack of motivation however new models are developed with ultra-fast chargers and wireless charging points. If we want to increase the usage of the electric bus for public transportation then an adequate amount of charging infrastructure needs to be developed, which currently possible in all metropolitan cities only.
If we talk about the worldwide market growth of electric bus China has acquired the top position by deploying most the electronic buses in the past few years, whereas the adoption of electronic buses in Europe is chasing at the second position because of cost and operational flexibilities. The United States is developing charging infrastructure for the implementation of electric buses, wherein California is investing huge amounts in such infrastructure construction. The Indian government has several funds rising plans and strategies, as many public transport companies are contracting for electric bus procurement and manufacturing.
We can say that In the near future Electric bus market will play a significant role in the automotive industry, which will also encourage other key businesses related to this market like battery technologies and advancement in biodegradable fuel. We can witnesses greener transportation in the coming years.