#Electric Bus Market Analysis

[industrynewsupdates]

Electric Bus Market Segmentation: A Comprehensive Look at Regional Trends

The global electric bus market was valued at USD 49.81 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.1% from 2024 to 2030. This growth is primarily driven by the increasing adoption of electric buses, spurred by rising environmental concerns and government support. Electric buses offer significant advantages over traditional gasoline and diesel-powered buses, contributing to their rising popularity across various regions.

One of the primary factors fueling the growth of the electric bus market is their zero tailpipe emissions. Unlike buses with traditional internal combustion engines, electric buses do not emit harmful pollutants such as nitrogen oxides (NOx) or particulate matter, which helps reduce air pollution and greenhouse gas emissions. As global awareness about climate change and environmental sustainability rises, governments and cities are increasingly turning to electric buses as a cleaner, more eco-friendly alternative to conventional buses.

In addition to their environmental benefits, electric buses also offer a quieter ride, which significantly reduces noise pollution. This quiet operation enhances both driver awareness and passenger comfort, making electric buses a preferred choice in urban environments where reducing noise levels is a growing priority. As cities continue to grapple with air and noise pollution, electric buses provide a compelling solution to improve urban quality of life.

Thus, the combination of these environmental and operational benefits is expected to significantly boost the adoption of electric buses over the forecast period, contributing to the market's growth from 2024 to 2030.

Gather more insights about the market drivers, restrains and growth of the Electric Bus Market

Regional Insights

The electric bus market is expected to experience substantial growth across different regions from 2024 to 2030, driven by increasing demand for cleaner, more sustainable transportation solutions. Key regions leading the way in electric bus adoption and infrastructure development include North America, Asia Pacific, Europe, and the Middle East & Africa (MEA).

North America Electric Bus Market Trends

In North America, the electric bus market is poised for significant growth, with both the U.S. and Canada actively working to expand their charging infrastructure and promote electric vehicle adoption. Government efforts to reduce carbon emissions and invest in sustainable transportation solutions are key factors supporting this growth.

• U.S. Electric Bus Market Trends: The electric bus market in the U.S. is expected to grow at a strong CAGR of 17.5% from 2024 to 2030. A major driver of this growth is the increasing adoption of electric school buses, spurred by initiatives like the U.S. Environmental Protection Agency’s (EPA) Clean School Bus Rebate Program. This program provides funding to help replace older, fuel-based school buses with cleaner, electric alternatives. As more school districts and local governments take advantage of these rebates, the adoption of electric buses is set to rise sharply across the country.

• Canada Electric Bus Market Trends: Canada is expected to witness the fastest growth in the electric bus market in North America from 2024 to 2030. The country is undergoing a zero-emission revolution in its transportation sector, with electric buses playing a pivotal role in this shift. Canada's government policies are focused on reducing greenhouse gas emissions, and electric buses are increasingly seen as a key solution to achieving these goals. This shift to cleaner, greener public transportation is expected to drive the market’s growth during the forecast period.

Asia Pacific Electric Bus Market Trends

The Asia Pacific region dominated the global electric bus market in 2023, accounting for 91.44% of the total revenue. This dominance is attributed to the region's large number of developing economies, stringent government mandates, and increasing focus on environmental sustainability. The growing demand for eco-friendly transport, along with expanding charging infrastructure, is fueling the electric bus market in this region.

• China Electric Bus Market Trends: China remains the global leader in electric vehicle and electric bus production, with steady growth expected at a CAGR of 11.5% from 2024 to 2030. China has been a pioneer in the electrification of both private and mass passenger transportation, and its strong presence of electric bus manufacturers along with stringent government regulations aimed at reducing carbon emissions are key drivers of market growth. The country’s extensive investments in charging infrastructure and continued support for electric vehicle production ensure that the electric bus market will continue to expand.

• India Electric Bus Market Trends: India is expected to see the highest CAGR in the electric bus market in Asia Pacific from 2024 to 2030. The Indian government introduced the PM eBus Sewa Scheme in August 2023, allocating USD 2.4 billion to deploy 10,000 electric buses across approximately 169 cities. These efforts are part of India’s broader goal to reduce urban pollution and tackle climate change, positioning the country as a growing player in the electric bus market.

• Japan Electric Bus Market Trends: The electric bus market in Japan is expected to grow at a considerable CAGR from 2024 to 2030. Japan, with its robust automotive manufacturing sector, has been making significant strides in promoting sustainable transportation. The country’s focus on reducing greenhouse gas emissions and adopting clean technologies has led to increased interest in electric buses, contributing to the market's growth.

Europe Electric Bus Market Trends

The electric bus market in Europe is expected to grow at a solid CAGR of 14.3% from 2024 to 2030, driven by strong government policies and a commitment to reducing vehicle emissions. Several European countries have already implemented or are in the process of deploying green transportation technologies, making Europe a key player in the global electric bus market.

• U.K. Electric Bus Market Trends: The United Kingdom is expected to experience the highest growth in the electric bus market in Europe, with an anticipated CAGR from 2024 to 2030. Government investments and initiatives are propelling this growth, with the UK government committing GBP 143 million (USD 180.5 million) in March 2024 to deploy nearly 1,000 new zero-emission buses in England. These efforts to expand the electric bus fleet are part of the UK’s broader push to reduce emissions and make public transport more sustainable.

• Germany Electric Bus Market Trends: Germany is another key market for electric buses in Europe. With a growing focus on technological advancements, evolving consumer preferences, and supportive regulatory frameworks, the German electric bus market is expected to grow at a notable CAGR from 2024 to 2030. The country’s well-established automotive sector and commitment to clean transportation solutions will continue to drive the adoption of electric buses.

Middle East & Africa (MEA) Electric Bus Market Trends

The MEA region is expected to see significant growth in the electric bus market, with a CAGR of 13.3% from 2024 to 2030. Rapid urbanization, population growth, and increasing demand for sustainable public transportation solutions are fueling the demand for electric buses in the region. As cities in the MEA region grow and face increasing air pollution, electric buses offer a cleaner, more efficient alternative to traditional diesel-powered buses.

• Saudi Arabia Electric Bus Market Trends: The Kingdom of Saudi Arabia (KSA) is expected to witness moderate growth in its electric bus market from 2024 to 2030. Saudi Arabia has expanded its adoption of electric vehicles to include electric buses as part of its broader efforts to diversify its economy and promote sustainability. The country is investing in cleaner transportation solutions to reduce dependence on fossil fuels and to help combat climate change, driving the growth of the electric bus market.

Browse through Grand View Research's Automotive & Transportation Industry Research Reports.

• The global electric vehicle market size was estimated at USD 1,070.77 billion in 2023 and is anticipated to grow at a CAGR of 33.6% from 2024 to 2030. 

• The global cobalt market size was estimated at USD 15.97 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030.

Key Electric Bus Company Insights

Some of the players operating in the market include BYD Company Limited, AB Volvo, Nissan Motor Corporation, Daimler Truck AG, Hyundai Motor Company, and TATA Motors Limited.

• AB Volvo is a manufacturer of trucks, buses, construction equipment, and marine and industrial engines. The company also offers comprehensive financing and service solutions, catering to the diverse needs of its customers worldwide.

• TATA Motors Limited, an automobile manufacturer, provides an extensive portfolio of integrated, smart, and e-mobility solutions, including utility vehicles, cars, buses, and trucks. The company operates through five business segments: Commercial Vehicles, Passenger Vehicles, Electric Vehicles, Jaguar Land Rover, and Tata Motors Finance.

Proterra, MAN, Ashok Leyland Limited, Zhengzhou Yutong Bus Co., Ltd., and others are some of the emerging companies in the electric bus market.

• Proterra is a prominent company in the development and production of heavy-duty, zero-emission electric transit vehicles, providing environmentally friendly and quiet transportation solutions to local communities across North America.

• Zhengzhou Yutong Bus Co., Ltd. is a manufacturer of commercial vehicles, particularly electric buses. The company provides city buses, long-distance coaches, commuters, school buses, tourist coaches, and special mobility vehicles.

Key Electric Bus Companies:

The following are the leading companies in the electric bus market. These companies collectively hold the largest market share and dictate industry trends.

• BYD Company Limited

• AB Volvo

• Proterra

• MAN

• Nissan Motor Corporation

• Ashok Leyland Limited

• Daimler Truck AG

• Zhengzhou Yutong Bus Co., Ltd.

• TATA Motors Limited

• Hyundai Motor Company

Order a free sample PDF of the Electric Bus Market Intelligence Study, published by Grand View Research.

[ashimbisresearch]

Electric Bus Market Research Analysis & Forecast | BIS Research

According to BIS Research analysis, the electric bus market, valued at $15.90 billion in 2024, is projected to grow at a CAGR of 15.14%, reaching a valuation of $65.10 billion by 2034 during the forecast period of 2024-2034.

[mordorintelligencemarketresearch]

Powering Forward: Insights into Mexico's Booming Electric Bus Market

The Mexico Automotive Electric Bus Market is projected to grow from approximately USD 0.28 billion in 2024 to USD 1.09 billion by 2029, representing a remarkable CAGR of 31.62% during this period.

Market Overview The Mexico Automotive Electric Bus market is gaining momentum as the nation prioritizes sustainable transportation solutions. With increasing urbanization and a push for greener public transport options, the demand for electric buses is expected to surge. Government initiatives, such as funding and incentives for electric vehicle adoption, further enhance market prospects, positioning Mexico as a key player in the electric bus sector.

Key Trends Government Initiatives and Incentives The Mexican government is actively promoting electric mobility through grants and subsidies, making it easier for municipalities to invest in electric bus fleets.

Technological Advancements Innovations in battery technology and electric drivetrains are enhancing the efficiency and performance of electric buses, leading to greater adoption among transit agencies.

Rising Environmental Concerns Increasing awareness about air pollution and climate change is driving public demand for cleaner transportation alternatives, prompting cities to transition from diesel to electric buses.

Urbanization and Population Growth Rapid urbanization in Mexico's major cities is fueling the need for efficient public transport systems, making electric buses an attractive solution for reducing congestion and emissions.

Collaborations and Partnerships Growing collaborations between local manufacturers and international electric bus companies are fostering innovation and increasing the availability of electric bus models tailored to local needs.

Challenges Despite the promising outlook, the market faces several challenges, including:

High Initial Costs: The upfront investment for electric buses and infrastructure can be a barrier for municipalities. Charging Infrastructure: The development of adequate charging stations is crucial for supporting widespread electric bus adoption. Maintenance and Technical Skills: A lack of trained personnel for maintaining electric buses poses a challenge for transit agencies transitioning from traditional vehicles.

Conclusion The Mexico Automotive Electric Bus market is on the brink of significant growth, driven by favorable government policies, technological advancements, and increasing public demand for sustainable transportation. While challenges remain, the potential for the industry to transform public transport in Mexico is substantial, paving the way for a cleaner, greener future. As the market evolves, stakeholders must focus on addressing these challenges to fully realize the benefits of electric buses in urban environments.

[vynzresearchreport]

Asia-Pacific Electric Bus Market — Growth, Trends, COVID-19 Impact, and Forecasts (2021–2027)

The Asia-Pacific electric bus market is booming, with a CAGR of 9.8% expected during the forecast period 2021–2027. This growth is being driven by a number of factors, including government initiatives to promote electric vehicles, rising concerns about air pollution, and increasing demand for cleaner transportation solutions.

Government Initiatives

Governments across the Asia-Pacific region are offering a number of incentives to promote the adoption of electric buses. These include subsidies for the purchase of electric buses, tax breaks, and the provision of dedicated charging infrastructure. For example, the Chinese government has offered subsidies of up to RMB 500,000 (USD 71,400) for the purchase of electric buses.

Get a free sample copy of the research report: https://www.vynzresearch.com/automotive-transportation/asia-pacific-electric-bus-market/request-sample

Rising Concerns About Air Pollution

Air pollution is a major problem in many parts of the Asia-Pacific region. Electric buses are zero-emission vehicles, which means that they do not produce any harmful pollutants. This is a major selling point for electric buses, as it appeals to governments and businesses that are looking to reduce their environmental impact.

Increasing Demand for Cleaner Transportation Solutions

There is a growing demand for cleaner transportation solutions in the Asia-Pacific region. This is due to a number of factors, including the increasing population, rising incomes, and growing environmental awareness. Electric buses offer a clean and sustainable alternative to traditional diesel buses.

Segmentation

The Asia-Pacific electric bus market is segmented by vehicle type, range, and country. By vehicle type, the market is segmented into battery-electric buses, plug-in hybrid electric buses, and fuel-cell electric buses. Battery-electric buses are the most popular type of electric bus in the Asia-Pacific region, accounting for the majority of the market share.

By range, the market is segmented into 150–300 miles, 300–450 miles, and above 450 miles. The 150–300 miles segment is the largest segment, accounting for the majority of the market share. This is due to the fact that this range is sufficient for most bus applications in the Asia-Pacific region.

By country, the market is segmented into China, India, Japan, South Korea, and the Rest of Asia-Pacific. China is the largest market for electric buses in the Asia-Pacific region, followed by India and Japan.

Opportunities

The Asia-Pacific electric bus market is expected to grow significantly in the coming years. There are a number of opportunities for businesses in this market, including:

The development of new battery technologies that can reduce the cost of electric buses.

The expansion of charging infrastructure in the Asia-Pacific region.

The increasing demand for cleaner transportation solutions in the region.

Conclusion

The Asia-Pacific electric bus market is booming, and there are a number of opportunities for businesses in this market. Businesses that can capitalize on these opportunities will be well-positioned to succeed in the years to come.

About Us:

VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities.

Source: VynZ Research

[perfectresearch]

Asia-Pacific Electric Bus Market Report, Geography Overview, E-chargers and Superchargers, Forecast to 2027

VynZ Research has predicted that the Asia-Pacific Electric Bus Market Size will reach USD 48.6 billion by 2027, with a projected CAGR of 9.8% during the forecast period from 2021-2027.

The research report offers an in-depth analysis of the market, including segmentation, dynamics, competition, and regional growth, with the latest trends and strategies for vendors in the Asia-Pacific Electric Bus Market.

Get a sample copy: https://www.vynzresearch.com/automotive-transportation/asia-pacific-electric-bus-market/request-sample

The report also provides answers to key questions such as which geographical areas will be most lucrative, what factors will shift the demand for Asia-Pacific Electric Bus Market Growth, and how evolving trends will impact the market.

The report includes vendor profiles for top players in the market:

BYD Company Ltd.

Tata Motors

Zhongtong Bus Holding Co. Ltd

King Long United Automotive Co. Limited

Anhui Ankai Automobile Co. Ltd.

ASHOK LEYLAND

Deccan Auto Ltd.

Olectra Greentech Limited.

YUTONG

Shanghai Shenlong Bus Co., Ltd.

Market segment analysis

The segments of the report are classified byVehicle Type, Length Type, Seating Capacity, Application, Battery Capacity, Battery and End-UserGeography and factors dominating the market and impacting the market growth plan during the forecast period.

The global market is segmented into the following sub-segments: -

Vehicle Type Insight and Forecast 2015-2027

Battery-Electric Buses

PHEV Buses

FCEV Buses

Length Type Insight and Forecast 2015-2027

Less Than 9m

Between 9m-14m

Above 14m

Seating Capacity Insight and Forecast 2015-2027

Below 40 Seats

40-70 Seats

Above 70 Seats

Application Insight and Forecast 2015-2027

Intracity

Intercity

Battery Capacity Insight and Forecast 2015-2027

Below 100 kWh

100-300 kWh

Above 300 kWh

Battery Insight and Forecast 2015-2027

Lithium Iron Phosphate Battery

Lithium Nickel Manganese Cobalt Oxide

Others

End-User Insight and Forecast 2015-2027

Government

Fleet Owners

The forecast methodology includes identifying the variables and their impact on the market, evaluating the trend of the regional market, and examining past market trends along with challenges analyses. The report also provides an understanding of the framework for adoption, development, distribution, and regulation.

The report provides a detailed overview of the market, SWOT analysis, business plans of each vendor, and in-depth analyses of current market trends, trend forecasts, and growth factors. It also provides a thorough review of the vendor landscape, competitive analysis, and important market strategies.

About Us: -

VynZ Research is a global market research company providing research, analytics, and consulting services for business plans, with specialized market research reports based on information predicted and estimated by industry professionals and experts. Their top-down and bottom-up approaches, data triangulation, and other techniques enable the market research leader to validate the data and deliver a major market study.

Source: VynZ Research

[alwaysonelectrical]

Energy Innovations - Innovations in Infrastructure, Technology, Resources and Energy

We're a global specialist across sectors such as infrastructure, technology, resources and energy innovations Lake Macquarie. Our people share their ideas, analysis and capabilities.

Allambi Care and Lake Macquarie Council have partnered up to power-up their operations using solar panels. They're one of a number of local organisations joining Council in the Cities Power Partnership, which has more than 170 members.

1. Electric Vehicle Charging Strategy

With electric vehicles (EVs) gaining traction in Australia and worldwide, Lake Macquarie City Council required strategic, technical, and business model input for the development of its EV charging infrastructure strategy.

The City currently operates seven EV chargers across the city including sites at Redhead, Charlestown, Morisset, Dudley and the Speers Point administration building. These 22 kilowatt chargers are installed on power poles and are connected directly to the overhead electricity supply, with energy use matched with 100% accredited GreenPower.

The EV chargers are designed to charge most EV models to 80 per cent capacity in four hours. Using intelligent software, the chargers will determine the best time to recharge for each vehicle. Fleet operators, such as bus depots and logistics centers, can schedule EV charging according to the required range and departure times of each vehicle.

2. Smart Metering

The rollout of smart meters gives customers real-time access to their energy data, empowering them to make choices and changes that reduce their electricity consumption and bills. This is an essential enabler of more efficient energy networks, helping the UK meet its carbon targets2.

Smart meters are connected to a national communications network from the outset, making them compatible with all energy suppliers from day one. However, many early-generation meters were installed with the energy supplier’s own communication systems, which means customers will lose some smart functionality if they switch provider.

Deployment constitutes a significant component of the overall cost of a smart transformation program. A dedicated deployment operations capability is essential to define a clear and appropriate deployment strategy that aligns to the achievement of strategic objectives. This enables the identification and rectification of bottlenecks, continuous improvement through customer feedback and the implementation of innovative solutions to improve deployment efficiency. Ultimately, this leads to the delivery of quality outcomes for the program.

3. Energy Efficiency

Energy innovations drive global sustainability goals, including reducing greenhouse gas emissions and enabling the transition to renewable and sustainable energy. Leading forms of green energy innovation include advancements in solar photovoltaic technology, improved battery storage capabilities and smart grids.

A local not for profit community organisation has joined forces with Lake Macquarie City Council and Pingala, a member-owned solar cooperative, to bring the Hunter region’s first community-funded renewable energy project to life. The Allambi Care solar project allows the community to fund a solar system at the organisation’s Charlestown headquarters, with returns of 5 to 8 per cent p.a.

The community-funded project will help Allambi Care save on electricity costs and reduce its environmental footprint by generating its own clean energy through a rooftop solar panel installation in Lake Macquarie and Newcastle. The system will be connected to Ausgrid’s electricity network and provide an onsite, renewable energy source that will be used to offset the City’s remaining carbon emissions from other sources.

4. Energy Storage

The cost of solar and energy storage is falling fast. In China, the world’s biggest power market, there are plans to double ESS capacity over the next five years.

Lake Macquarie City Council is an early adopter of onsite generation with 15 of its buildings now having solar power installed. This enables the business to save on electricity costs and reduce its impact on the environment.

In partnership with Allambi Care, the City is launching its first community-funded renewable energy project – Pingala. It invites local community members to invest in solar power for Allambi Care and receive a return on their investment of between 5 and 8 per cent a year.

Eku Energy, a Macquarie Asset Management portfolio company, develops, builds and actively manages energy storage assets to enable reliable, clean electricity supplies. The team uses a combination of local partnerships and a data-driven understanding of global financial and energy markets to find the right investment solutions for its projects.

[communicationblogs]

Plastics Market — Forecast(2024–2030)

Plastics Market Overview:

Additionally, Advancements in plastic processing techniques such as injection molding, blow molding and thermoforming have made it possible to manufacture complex shapes and designs. This leads to increase in the demand for plastic products across various end-use industries. These factors positively influence the Plastics industry outlook during the forecast period. Plastics are no longer just passive materials. Developments in nanotechnology and other fields are leading to the creation of smart plastics with unique properties. This includes using recycled materials, reducing energy consumption in production, and designing products for easy recycling or reuse.

Request Sample 

COVID-19 / Ukraine Crisis — Impact Analysis:

• The COVID-19 pandemic has caused disruptions in global supply chains leading to shortages in raw materials and delayed shipments of finished products. This has resulted in increased costs and reduced availability of plastics, affecting industries such as packaging, automotive and construction. On the other hand, there has been a surge in demand for single-use plastics such as gloves, masks and other personal protective equipment owing to the fear of contamination and transmission of the virus. This has led to an increase in production and consumption of plastic products, especially in the healthcare sector.

• The Ukraine and Russia conflict, Ukraine is a major supplier of raw materials such as polyethylene, PVC and polystyrene to European plastic manufacturers. The crisis has led to disruptions in the supply chain causing shortages in raw materials and increased costs for manufacturers. On another side, there are opportunities for investment in the Ukrainian plastics industry. The country has a skilled workforce and a growing domestic market and there is potential for the industry to expand into neighbouring markets such as Eastern Europe.

Key Takeaways:

• Asia-pacific is Leading the Market

Geographically, the Asia-pacific region held the major share of 43% in 2023 owing to its rapidly growing economy, population and urbanization which leads to significant investments in the plastic industry. Additionally, the low-cost labor, favorable government policies and access to raw materials have made an attractive location for investment and production of plastic products in this region. In 2021, as per the National Bureau of Statistics (NBS), over 80 million tonnes of plastics were produced in China which propels the plastics market growth in this region.

• Polyethylene Dominated the Market

According to the Plastics market forecast, the Polyethylene segment held the major revenue of $156 billion in 2023 owing to the lightweight, durable and flexible plastic that is widely used in various end-use industries such as packaging, agriculture, consumer goods and construction. High-Density polyethylene (HDPE) and Low-Density Polyethylene (LDPE) are making them attractive materials for a wide range of applications owing to low-cost, easy to produce and versatile.

• Electrical and Electronics Segment Register Fastest Growth

Based on End-user, the Electrical and Electronics segment in the Plastics Market analysis is estimated to grow with the fastest CAGR of 5.1% during the forecast period 2024–2030 owing to the increasing demand for consumer electronics and the need for lighter, more durable and heat-resistant materials in the production of these products. Plastic products such as polycarbonates, polyphenylene oxide and polyamides are widely used in the electrical and electronics industry owing to their high electrical insulation, flame resistance and high-temperature resistance. As per Plastic Europe, the circularity picture in Europe is even more positive. Fossil-based plastics production is decreasing, while circular plastics production has increased by 29.2% since 2018, reaching a 19.7% share of overall European plastics production in 2022.

Inquiry Before Buying 

• Increased Demand for Packaging Materials Drives Market

The demand for plastic packaging has increased owing to its benefits such as convenience, low cost, durability and ease of transport. In addition, the growth of e-commerce and the rise of online retail have also contributed to the growth in demand for plastic packaging materials. As per United Nations Environment Programme report, about 36% of produced plastics are used in packaging materials such as single-use plastic products for food and beverages packaging.

• Growing Demand for Recycling Plastics

The recycling of plastic has become a crucial part of the plastic industry and is being embraced by governments, companies and individuals alike. Recycling plastics can help to conserve resources, reduce greenhouse gas emissions and decrease the amount of plastic waste that ends up in landfills and the ocean. Additionally, recycled plastic can be used to create new products which can create new jobs and help to boost the economy. To meet the increasing demand for recycled plastic, companies are investing in new technology and processes to make recycling more efficient and cost-effective. The development of innovative products made from recycled plastic is also driving demand for recycled plastic and is helping to create a more sustainable plastic industry. The EU and its Member States have sponsored a resolution by the UN Environment Assembly to establish an intergovernmental negotiating committee (INC) to develop an international legally binding instrument on plastic pollution by the end of 2024, including in the marine environment, to prevent plastic pollution throughout the entire plastics lifecycle.

Buy Now

• Environmental Concerns Hampers the Market

Environment concerns are the primary factor hampering the plastics industry. Plastic waste is a significant environmental concern with millions of tons of plastic entering the oceans and landfills every year. Plastic waste has become a global epidemic. Billions of tons of plastic waste accumulate each year, overwhelming landfills and polluting natural habitats. Traditional plastics have notoriously long lifespans, taking centuries to decompose naturally, exacerbating the problem. This has led to reduced use of plastics and increased recycling and reuse of plastic products as well as promoting more sustainable alternatives.

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Plastics Market. The top 10 companies in this industry are listed below:

1. Dow Inc. (AFFINITY HT1285G, AFFINITY GA 1950)

2. LyondellBasell Industries N.V. (Alathon H4250, Clyrell EC340R)

3. BASF SE (Tinuvin®, Irgafos®)

4. ExxonMobil Corporation (Oppera™, Achieve™)

5. SABIC (CYCOLAC™, VALOX™)

6. INEOS Group Limited (CAP311US, H02C-00)

7. ENI (EUROPRENE® (78) · CLEARFLEX® (49))

8. LG Chem, Ltd (ABS HF380, Injection H1500)

9. Chevron Phillips Chemical (Marlex® 9503H, Marlex® 9018)

10. Lanxess (Durethan®, Adiprene®)

[insightsresearch]

Automotive Communication Technology Market: Size & Share 2024 | Growing Rapidly with Industry Share, Industry Expansion Strategies till 2036

Analysis of Automotive Communication Technology Market Size by Research Nester Reveals the Market to grow with a CAGR of 17.3% during 2024-2036 and attain USD 82.8 billion by 2036. Research Nester assesses the growth and market size of the automotive communication technology market, which is anticipated due to the widespread demand for advanced driver assistance systems (ADAS) technologies. This is due to the rising number of traffic accidents and causalities, it is estimated that the market for devices that assist with steering, braking, monitoring, and warning tasks while driving will grow rapidly in the near future.

New York – August 26, 2024- Research Nester’s recent market research analysis on “Automotive Communication Technology Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor's analysis and a detailed overview of the global automotive communication technology market in terms of market segmentation by application, bus module, vehicle class, and by region.

Growing advancements in Electric Control Units (ECUs) to promote the global market share of the Automotive Communication Technology market.

The global automotive communication technology market is estimated to grow majorly on account of the worldwide adoption of face recognition, Artificial Intelligence (AI), Machine Learning (ML), big data, and the Internet of Things (IoT). This allows easy integration into vehicles which is an alluring opportunity for automotive manufacturers and dealers. Furthermore, the number of Electronic Control Units (ECUs) per vehicle has increased as a result of the automotive manufacturers' initiatives. For instance, Hitachi[R1]  in 2022 stated that this integration of ECUs will result in a 25–50% reduction in the cost of electric/electronic (E/E) vehicles when compared to earlier models.

Some of the major growth factors and challenges that are associated with the growth of the Automotive Communication Technology market are:

Growth Drivers:

Increasing demand for connected vehicles

Shifting preference over advanced and small vehicles

Challenges:

The presence of concerns related to less reliability on electronics is expected to affect the market growth and act as a restraining factor. As IoT-connected devices and applications expand, there is an increasing risk of security breaches. When designing automotive communication technology, security is the priority to prevent data breaches and unauthorized access. Manufacturers may find it costly and time-consuming to comply with several laws and regulations from the automotive industry, thus, hindering market growth

Access our detailed report at: https://www.researchnester.com/reports/automotive-communication-technology-market/6358

[industrynewsupdates]

Electric Bus Market Growth: What’s Driving Demand Globally?

The global electric bus market was valued at USD 49.81 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.1% from 2024 to 2030. This growth is being driven by the increasing adoption of electric buses, largely due to rising environmental concerns and strong government support. Electric buses offer a number of advantages over traditional gasoline and diesel-powered buses, including zero tailpipe emissions, which help reduce air pollution. Moreover, they are considered cleaner and more environmentally friendly than conventional buses, aligning with global efforts to tackle climate change and reduce carbon footprints.

In addition to their environmental benefits, electric buses provide a quieter and smoother ride compared to diesel buses. This reduction in noise pollution not only benefits urban environments but also enhances driver awareness and passenger comfort. Quieter vehicles help reduce the stress and noise levels in crowded urban areas, contributing to a more pleasant and healthier transportation experience. As cities and governments place greater emphasis on sustainable urban mobility and cleaner air, the demand for electric buses is expected to continue growing throughout the forecast period from 2024 to 2030.

Gather more insights about the market drivers, restrains and growth of the Electric Bus Market

Type Insights

The electric bus market is broadly categorized into two main types: Battery Electric Vehicles (BEVs) and Fuel Cell Electric Vehicles (FCEVs). Among these, the Battery Electric Vehicle (BEV) segment dominated the market in 2023, accounting for a significant 67.6% of the total revenue. BEVs are considered a more efficient and cost-effective alternative to traditional fuel-powered buses. These buses run entirely on electricity stored in batteries, making them a zero-emission solution for public transportation.

The primary advantages of BEVs over conventional diesel or gasoline-powered buses include lower operational costs, reduced maintenance requirements, and easier charging infrastructure. BEVs are generally more energy-efficient, providing cost savings over time for transit authorities. Additionally, they are easier and less expensive to charge compared to fuel-powered buses, which require more complex fueling infrastructure. The relatively low cost of electricity and the efficiency of modern battery technology have made BEVs a preferred choice for many municipalities looking to modernize their fleets with environmentally friendly alternatives. As more cities and countries focus on reducing their carbon emissions, the adoption of BEVs is expected to remain strong, driving the growth of the segment.

The Fuel Cell Electric Vehicle (FCEV) segment, while smaller in comparison to BEVs, is projected to experience significant growth during the forecast period from 2024 to 2030. FCEVs are powered by hydrogen fuel cells, which produce electricity by combining hydrogen with oxygen in a chemical reaction. This technology offers a significant reduction in greenhouse gas emissions and air pollutants compared to traditional fossil fuel-powered vehicles. Since the only byproduct of hydrogen fuel cells is water vapor, FCEVs are considered an environmentally friendly and sustainable transportation solution.

The growing interest in FCEVs can be attributed to several factors. First, the infrastructure for hydrogen fueling is expanding, with more refueling stations being built globally, making it more feasible for cities and transit authorities to adopt FCEVs. Second, hydrogen fuel cells offer longer driving ranges and faster refueling times compared to battery electric buses, which could make them more suitable for certain use cases, such as long-distance routes or operations in areas with limited charging infrastructure. Additionally, FCEVs contribute to reducing dependence on fossil fuels, which is in line with global efforts to transition toward cleaner energy sources.

Government initiatives also play a crucial role in the growth of the FCEV market. Policies and programs that encourage the adoption of hydrogen fuel cell technology are helping to accelerate the development and deployment of these vehicles. For instance, the Electric Vehicles (EVs) Initiative, coordinated by the International Energy Agency (IEA), is a multi-government policy forum aimed at promoting electric vehicle adoption worldwide. This initiative supports member governments in their efforts to create favorable conditions for the widespread adoption of both BEVs and FCEVs, which is expected to positively impact the market for hydrogen-powered electric buses.

Order a free sample PDF of the Electric Bus Market Intelligence Study, published by Grand View Research.

[aeautoevcharger]

Breaking News! AEAUTO UK MW ESS-Charging project officially launched!

On October 17, 2024, the launch meeting of the UK MW ESS-Charging project of Nanjing AE System Technology Co., Ltd. (AEAUTO) was grandly held. The Lishui District Commerce Bureau of Nanjing, Lishui High-tech Investment Group, the la 0rgest electric bus operator in the UK, and the heads of various business departments of AEAUTO gathered together.

AEAUTO warmly welcomed the customer team from afar and expressed that we would work together with all parties to strictly follow the plan and make every effort to ensure the high-quality launch of the megawatt charging energy storage project and contribute to the development of the new energy field.

At the meeting, AEAUTO conducted a comprehensive review of the project and introduced the overall plan in detail from the aspects of project implementation, implementation plan, project cycle nodes and project risks. The deputy director of the Lishui District Commerce Bureau and the director of the Foreign Economics Section said that they will focus on the fields of new energy vehicles and intelligent equipment manufacturing, vigorously introduce and cultivate leading enterprises, regional headquarters, R&D centers and high-tech manufacturing enterprises in the electronic information, artificial intelligence, smart home and other industrial chains, and implement the concept of "scientific research in the core area and manufacturing in the linkage area". We firmly believe that with the joint efforts of all parties, the energy storage project will be successfully completed on time.

Project introduction:

The megawatt-level ess charging project in which Nanjing AE System Technology Co., Ltd. (AEAUTO) participated in the construction is a very meaningful energy project. It integrates a 3.44 MWh energy storage system with a 1.2 MW charging function, and is currently the largest integrated energy storage and charging project in the UK.

Project significance

Promoting energy transformation: With the growing global demand for renewable energy, this project will provide strong support for the UK's energy transformation and effectively solve the intermittent and instability problems of renewable energy.

Demonstration and leading role: As the largest integrated energy storage and charging project in the UK, it is planned to be delivered in early 2025, which will form a demonstration effect in the UK and provide valuable experience and reference for energy storage projects in other regions.

Promoting cross-regional cooperation: The implementation of this project involves cooperation between AEAUTO and Nanjing Lishui District Bureau of Commerce, Lishui High-tech Investment Group and the largest electric bus operator in the UK, which has promoted cross-regional economic cooperation and technical exchanges.

Technical highlights

High energy storage: The 3.44 MWh energy storage system has a strong energy storage capacity and can meet large-scale energy storage needs.

Fast charging function: The 1.2 MW charging power can achieve fast charging and improve energy utilization efficiency.

Intelligent management: The project will adopt an advanced intelligent energy storage management system to ensure the safe and stable operation of the energy storage system and realize the efficient distribution and utilization of energy.

Market prospect analysis

With the growth of global demand for clean energy and the emphasis on energy storage technology, the energy storage market has broad prospects. As the largest integrated energy storage and charging project in the UK, this project has significant advantages.

Meeting the UK's large-scale energy storage needs: 3.44 MWh of energy storage capacity and 1.2 MW of charging power can provide reliable energy storage and fast charging services for the UK power system to adapt to the growing energy demand.

Leading the development of energy storage technology: The project's advanced technology and intelligent management system will set a benchmark for the industry, promote the development of energy storage technology towards high energy density, high safety, long life and low cost, attract more market participants and expand the market scale.

Bring market expansion opportunities: The demonstration effect after the project is delivered will attract the attention of other countries and regions, bring international cooperation opportunities to AEAUTO and our partners, and promote the development of the domestic energy storage market and technological innovation and application.

The launch of this megawatt-level energy storage charging project marks that AEAUTO has taken a solid step in the field of energy storage. All parties will take this launch meeting as an opportunity, uphold the concept of win-win cooperation, jointly explore the innovative development path of megawatt-level energy storage charging projects, and work hard to build a green and intelligent energy system.

[shubhampawrainfinium]

Driving Efficiency: Why Terminal Tractors Are Essential for Logistics

The global terminal tractor market is poised for steady growth, projected to expand at a CAGR of approximately 5% during the forecast period of 2022 to 2028. The market was valued at around USD 750 million in 2022 and is anticipated to reach nearly USD 1 billion by 2028. This growth is driven by the increasing demand for efficient cargo handling and logistics operations at ports, distribution centers, and warehouses.

What Are Terminal Tractors?

Terminal tractors, also known as yard trucks or shunt trucks, are specialized vehicles designed for the efficient movement of semi-trailers and containers within a terminal or a designated yard. They play a critical role in logistics and transportation by facilitating the loading and unloading of goods from ships, trains, or trucks, thereby optimizing overall operational efficiency.

Get Sample pages of Report: https://www.infiniumglobalresearch.com/reports/sample-request/29368

Market Dynamics

Several factors are contributing to the growth of the terminal tractor market:

Growing Logistics and E-commerce Industry: The rapid expansion of the logistics sector, fueled by the e-commerce boom, is driving the demand for terminal tractors. With an increasing volume of cargo to be handled efficiently, businesses are investing in specialized equipment to streamline operations.

Port Modernization and Infrastructure Development: As global trade continues to rise, many ports and terminals are undergoing modernization and expansion. This includes upgrading equipment to improve cargo handling efficiency, which in turn is boosting the demand for terminal tractors.

Technological Advancements: The incorporation of advanced technologies, such as automation and telematics, in terminal tractors is enhancing their operational capabilities. Automated terminal tractors are becoming increasingly popular due to their ability to optimize logistics operations, reduce labor costs, and minimize human error.

Focus on Sustainability: There is a growing emphasis on sustainability in logistics operations. Manufacturers are increasingly developing electric and hybrid terminal tractors to reduce emissions and comply with environmental regulations, which is expected to attract environmentally conscious buyers.

Regional Analysis

North America: The terminal tractor market in North America is expected to witness steady growth due to the robust logistics infrastructure and high demand for efficient cargo handling solutions. The U.S. is a significant contributor to the market, with a strong presence of key players and advanced technologies.

Europe: Europe is also a prominent market for terminal tractors, driven by stringent regulations aimed at reducing emissions and promoting sustainable practices. The increasing emphasis on modernizing port facilities is further propelling market growth.

Asia-Pacific: The Asia-Pacific region is anticipated to experience the highest growth rate during the forecast period, primarily due to rapid industrialization, urbanization, and the expansion of logistics and transportation networks in countries like China and India.

Latin America and Middle East & Africa: These regions are gradually adopting terminal tractors, supported by infrastructure development projects and increasing trade activities. However, the market may face challenges due to economic fluctuations and varying regulatory environments.

Competitive Landscape

The terminal tractor market is characterized by the presence of several key players, including:

Kalmar: A leader in terminal tractor manufacturing, Kalmar offers a range of solutions designed to enhance operational efficiency in container handling.

TICO (Terminal Investment Corporation): Known for its innovative terminal tractors, TICO focuses on providing high-performance equipment for ports and intermodal terminals.

Mitsubishi Fuso Truck and Bus Corporation: This company manufactures terminal tractors that are recognized for their reliability and efficiency in cargo handling operations.

Terberg Special Vehicles: Terberg is known for producing versatile terminal tractors that cater to various logistics needs, including intermodal transport.

Linde Material Handling: Linde offers terminal tractors with advanced technology for improved maneuverability and efficiency in handling containers and trailers.

Report Overview : https://www.infiniumglobalresearch.com/reports/global-terminal-tractor-market

Challenges and Opportunities

Despite the growth prospects, the terminal tractor market faces challenges such as high initial costs and maintenance expenses associated with advanced technologies. Additionally, competition from alternative solutions, such as automated guided vehicles (AGVs), may pose a threat to traditional terminal tractor sales.

However, opportunities exist for growth through innovation and the development of electric and automated terminal tractors. As businesses seek to enhance operational efficiency and reduce their carbon footprint, manufacturers that invest in sustainable and technologically advanced solutions will likely gain a competitive edge.

Conclusion

The global terminal tractor market is on a growth trajectory, driven by increasing logistics demands, port modernization efforts, and technological advancements. As the market evolves, stakeholders that focus on innovation, sustainability, and customer-centric solutions will be well-positioned to capitalize on emerging opportunities. With the expected rise in cargo volumes and ongoing infrastructure developments, the terminal tractor market is set for significant growth in the coming years.

[dh5ryxhgbctgr]

Lithium Titanate Oxide (LTO) Battery Market Dynamics and Future Development Projections 2024 - 2032

The lithium titanate oxide (LTO) battery market is emerging as a pivotal segment within the broader battery industry, known for its unique advantages in safety, longevity, and performance. These batteries, characterized by their fast charging capabilities and high cycle life, are gaining traction in various applications, from electric vehicles to energy storage systems. This article provides an in-depth analysis of the lithium titanate oxide battery market, focusing on its drivers, technologies, trends, challenges, and future outlook.

Overview of the Lithium Titanate Oxide Battery Market

Definition and Purpose

Lithium titanate oxide batteries are rechargeable lithium-ion batteries that utilize lithium titanate as the anode material. Unlike conventional lithium-ion batteries, which typically use graphite, LTO batteries offer significant advantages, including rapid charge times, excellent thermal stability, and extended life cycles. These attributes make them suitable for applications requiring high power and safety.

Market Dynamics

The LTO battery market is influenced by several factors, including technological advancements, increasing demand for energy storage solutions, and the need for sustainable energy systems.

Key Drivers of the Market

Growing Demand for Electric Vehicles (EVs)

The global shift toward electric vehicles is driving the demand for high-performance batteries. LTO batteries are particularly well-suited for EV applications due to their fast charging capabilities and long cycle life, making them an attractive choice for manufacturers and consumers alike.

Increasing Focus on Renewable Energy Storage

As the adoption of renewable energy sources such as solar and wind continues to rise, the need for efficient energy storage solutions becomes critical. LTO batteries can provide reliable energy storage for grid applications, helping to balance supply and demand effectively.

Advancements in Battery Technology

Ongoing research and development in battery technology are enhancing the performance of LTO batteries. Innovations in materials and manufacturing processes are leading to improved energy density, reduced costs, and increased efficiency.

Segmentation of the Lithium Titanate Oxide Battery Market

By Application

Electric Vehicles

Grid Energy Storage

Consumer Electronics

Industrial Applications

By Region

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa

By Type

Prismatic LTO Batteries

Cylindrical LTO Batteries

Pouch LTO Batteries

Current Trends in the Lithium Titanate Oxide Battery Market

Rise in Hybrid and Electric Buses

LTO batteries are increasingly being adopted in hybrid and electric bus applications due to their rapid charging capabilities and longevity. This trend reflects a broader movement toward electrifying public transportation to reduce emissions and enhance sustainability.

Development of Energy Storage Systems

The integration of LTO batteries into large-scale energy storage systems is gaining traction. Their ability to deliver high power outputs and sustain numerous charge-discharge cycles makes them ideal for stabilizing renewable energy sources.

Focus on Safety and Environmental Concerns

As safety regulations tighten, the inherent safety features of LTO batteries are becoming more appealing. Their resistance to thermal runaway and longer life cycle can reduce the need for frequent replacements, addressing environmental concerns associated with battery disposal.

Challenges Facing the Lithium Titanate Oxide Battery Market

High Production Costs

The production of LTO batteries is currently more expensive than traditional lithium-ion batteries due to the cost of materials and complex manufacturing processes. This high cost can hinder broader adoption, especially in price-sensitive markets.

Limited Energy Density

While LTO batteries offer numerous advantages, their energy density is generally lower than that of conventional lithium-ion batteries. This limitation can restrict their use in applications where space and weight are critical factors, such as in consumer electronics.

Competition from Alternative Technologies

The rapid advancement of other battery technologies, particularly lithium-ion and solid-state batteries, poses a competitive challenge to the LTO battery market. Manufacturers must continuously innovate to maintain their competitive edge.

Future Outlook

Market Predictions

The lithium titanate oxide battery market is expected to witness substantial growth in the coming years, driven by the increasing demand for electric vehicles, energy storage solutions, and technological advancements. The market's growth is likely to be bolstered by supportive government policies promoting clean energy and sustainable transportation.

Opportunities for Growth

Emerging markets in Asia-Pacific, particularly in China and India, present significant opportunities for LTO battery manufacturers. Additionally, the increasing focus on renewable energy infrastructure and electrification of transportation systems will further enhance market potential.

Conclusion

The lithium titanate oxide battery market is poised for significant growth as the world transitions towards sustainable energy solutions. With their unique advantages in safety, performance, and longevity, LTO batteries are well-positioned to meet the demands of various applications, from electric vehicles to energy storage systems. By addressing current challenges and leveraging technological innovations, the LTO battery market can contribute to a cleaner, more efficient energy landscape.

[insightreportsunivdatos]

Electric School Bus Market Size, Share, Growth, Trends and Forecast 2024-2032

Introduction

The EPA Clean School Bus Program is one of our big projects now, substituting diesel buses with zero-emission cleaner technologies for the nation. It was introduced as a program under the Bipartisan Infrastructure Law, with USD 5 billion spread over five financial years to help school districts move to environmentally friendly buses. According to the official, the program is primarily aimed at reducing air pollution and enhancing the health of people including students in needy areas. The Global Electric School Bus Market was valued at USD 35.6 billion in 2023 and is expected to grow at a strong CAGR of around 15.38% during the forecast period (2024-2032).

Request Free Sample Pages with Graphs and Figures Here - https://univdatos.com/get-a-free-sample-form-php/?product_id=67048

Objectives and Funding

The focus of the Clean School Bus Program is to replace diesel-powered school buses with zero emissions and ultra-low-emissions buses such as electric, propane, or CNG-powered school buses. The EPA hopes to ease the economic burden many school districts face in weighing the cost of replacing such devices with new buses that incorporate necessary charging infrastructure by offering up to 100% funding for the costs of buying new buses and outfitting such facilities. It directs funding toward high-need local education agencies, and low-income, rural, and Tribal schools first, so that those who are hurt most by pollution get the help they need first.

The EPA reports that through early 2024 it has awarded over USD3 billion to replace nearly 8,500 school buses with 1,000 school districts. With this funding, nearly 95% of zero-emissions buses have been deployed that are less harmful to emissions in school zones. In September 2023, the agency announced another USD965 million in funding available for clean bus initiatives.

Health and Environmental Benefits

Cost savings involving electric and alternative fuel school bus transition are projected to have large health impacts. Diesel exhaust causes different respiratory problems affecting the respiratory system and asthma, primarily affecting children. Its goals are perfectly in tune with the Clean School Bus Program which works to decrease or even eliminate these emissions near schools and make conditions in and around educational institutions healthier.

Furthermore, current electric buses tend to release less greenhouse gases as compared to diesel buses. In one year of service, each electric bus that is used within the community can save a significant amount of carbon dioxide emissions throughout the useful life of the vehicle, thus helping mitigate gauntlet climate change while enhancing the quality of air that people breathe.

Related Reports-

In-Vehicle eCall Market: Current Analysis and Forecast (2024-2032)

Motorcycle Headlight Bracket Market: Current Analysis and Forecast (2024-2032)

Eligibility and Application Process

The Clean School Bus Program will fund school districts nationwide. In addition to public school districts throughout the entire United States, this includes Puerto Rico, Guam, American Samoa, and Tribal nations. The process is intended to be easily accessible but has high priority for low-income and rural schools.

The program to apply for the Clean School Bus Rebate Program is now shut down on February 14, 2024. Successful applicants could apply for an amount not exceeding $345,000 per electric bus which incorporated the cost of the bus and infrastructure costs. As a way of encouraging technical compliance, the EPA offers all potential applicants technical help and self-application online guidelines.

For more information about this report visit- https://univdatos.com/report/electric-school-bus-market/

Conclusion

Lastly, the EPA Clean School Bus Program shows that the government is supporting sustainable education sector transportation initiatives as an important program. It enables the transition to cleaner options from diesel and caters to some important public health requirements at the same time as it supports diverse other environmental intentions. As more schools take this funding opportunity, expect to see a massive positive change in students’ health and the general residents across the entire country.