Kenneth Research, in its repository of market research reports, have recently added a report on Hybrid Bus Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hybrid Bus Market products.
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According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
Global Hybrid Bus Market is forecasted to grow with a healthy growth rate of more than 25.2% over the forecast period 2018-2025. The major factors speculated to augment the markets are growing eco-friendly initiatives pertaining to fuel emission, need for addressing consumers’ needs concerning fuel expenditure reduction and obligatory compliance with CO2 emissions norms. A hybrid electric bus couples a conventional internal combustion engine propulsion system with an electric propulsion system. These type of buses usually use a Diesel-electric powertrain and are also known as hybrid Diesel-electric buses.
The regional analysis of Global Hybrid Bus Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of Market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is also expected to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The major market players in Hybrid Bus Market are Volvo, BAE Systems, BYD, Proterra, New Flyer, Anhui Ankai Automobile, Ashok Leyland, Blue Bird, CNH Industrial, Daimler, Hyundai, and so on.
The detailed segments and sub-segment of the Market are explained below
By Component
*Transmission System
*Propulsion System
*Powertrains
*Others
By Market
*Highway Transportation
*Public Transit
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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