India Electric Bus Market Business Data- 2017-2025

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India Electric Bus Market Overview, Type, Length,
Battery, Region, Growth and Demand Forecast,
2017-2025      
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The Indian electric bus market is projected to
reach 4,056 units by 2025, the growth of the
market is majorly driven by the increasing
government support for electric vehicles and
falling battery prices, according to PS
Intelligence. Insights into market segments On
the basis of vehicle type, the Indian electric
bus market is segmented into battery electric bus
(BEB) and hybrid electric bus (HEB). Among these,
in terms of volume, the HEB category accounted
for more than 85 share in the electric bus
industry in 2017. However, the fastest growth
during the forecast period is expected from the
BEB category, owing to higher government support
for BEBs as they are eco-friendlier than
HEBs. Based on battery, the Indian electric bus
market is segmented into lithium-iron-phosphate
(LFP), Lithium Nickel Manganese Cobalt Oxide
(NMC) batteries, and others. Among these, the LFP
category recorded the highest volume sales,
crossing 80 in 2017. However, the fastest growth
during the forecast period is expected from the
NMC category, owing to its declining price in
addition to the higher energy density and safety
levels that it offers.
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Government initiatives driving the market The
Indian electric bus market is primarily driven by
the strict government emission norms and
regulations and support in the form of subsidies
and grants. Also, to deal with the growing
concerns related to environmental degradation,
the government has planned to roll out fleets of
electric and hybrid buses and has taken
initiatives to encourage electric bus
manufacturing within the country. The Ministry of
Urban Development of the country recently
launched THE Green Urban Transport Scheme (GUTS)
with the aim to reduce carbon emissions from the
public transport vehicles in the country. The
ministry proposed an INR 250 billion grant for
developing electric vehicles for public
transport.
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Competitive Landscape The key players in the
Indian electric bus market are Ashok Leyland
Limited, Goldstone Infratech Limited, Tata Motors
Limited, JBM Auto Limited, Solaris Bus Coach
SA, BYD Auto Co. Ltd., Zhongtong Auto Co., Optare
PLC, Deccan Auto Limited, and Volvo Eicher
Commercial Vehicles Limited. Request to Get the
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