Due to the unique nature of the market for buses over consumer vehicles, innovation in the automotive industry often happens in that sector before others. Because buses are less price sensitive, an IDTechEx Research report titled “Electric Buses 2017-2027”, predicts that the market for large and medium hybrids, as well as purely electrical buses, will exceed $165 billion in 2027.
The report covered over 100 hybrid and purely electrical bus manufacturers worldwide, and includes data from EV events in the US, UK, Japan, Germany, and Taiwan. It notes that the Chinese are the dominant player in bus purchases.
For the moment, the IDETechEx states that it is the only in-depth and current report on these trends and issues.
The report cites the rapid innovations to come in the next decade, as well as technology and regional sales as factors driving the market. It also covers the development of fuel cell buses, and how the rise of more energy and environmentally-efficient buses are slowly closing their window of opportunity.
The report’s forecasts are split by region, comparing hybrids to pure electric and powertrain buses based on market value and unit price. The report is over 265 pages long, but is designed to be understood in a short amount of time.