Global Electric & Hybrid Electric Buses Market to 2021 – By Vehicle Type, By Technology, Competition Forecast & Opportunities – Research and Markets
Source: PR Newswire
Research and Markets has announced the addition of the "Global Electric & Hybrid Electric Buses Market - Forecast and Opportunities, 2011-2021" report to their offering.
The global market for electric & hybrid electric bus is projected to grow at a CAGR of 17% during 2016 - 2021.
Rising environmental concerns and increasing government investments in fuel saving technologies and alternative fuel vehicles is driving growth in global electric & hybrid electric vehicles market. Additionally, increasing urbanization coupled with rising air and noise pollution is anticipated to emerge as other contributory factors propelling demand for electric & hybrid electric buses in the coming years.
Though, global market for electric & hybrid electric buses is in its nascent phase, an increasing number of global bus manufacturers are opting to manufacture electric & hybrid electric buses as substitutes to diesel fueled buses.
Advancements in the field of electric mobility and rising adoption of these buses in developed and emerging economies is expected to expand market size for global electric & hybrid electric bus market through 2021.