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Electric Bus- A Greener Way to Profit

With the development of smart cities, manufacturers are focusing on electric buses in order to have a competitive first-mover advantage.

On the basis of current fleet performance and airline network efficiency, as well as baseline emission reduction efforts undertaken by the carrier, options for airlines to reduce CO2 emissions vary.in past few years, aviation industry has made the growth reducing emissions through various initiatives. In the context of (SAFs) to accelerate the growth SAFs have came out as a relevant solution, the potential overall on reduced lifecycle carbon emission is up to 80% as compared to jet fuels. Aviation operators will have to adjust from the regulatory point of On 13th February 1970, a company named MAN launched a fully electric city bus after 2 years of development. These electric buses were capable of carrying 99 passengers and had an operating distance of about 50 km. Furthermore, in the Munich Olympic Games in 1972, the athletes used to drive between Olympic and Olympic villages in 2 electric buses. Today the electric bus buisnesses has grown manifolds and various companies have developed electric buses as an alternative to gas and diesel engines. The number of units of electric buses has got increased since then, as it reached a worldwide sale of 112,041 units in the year 2022 and it is expected to reach 700,000 units by the year 2030.view in order to cope with constantly evolving application of sectoral incentives and sanctions. The costs associated with the SAF in relation to European airline decarbonization could therefore be changed by Europe's response to the Inflation Reduction Act. In terms of aviation industry net zero goals it aims to be high achiever of carbon neutral growth by the 2020. In overcoming all these aspects, the management and collaboration between government, industry stake holders, and researchers are crucial. It requires a lot of contribution like funding and so on which needs to ensure the necessity growth of sustainable aviation future and growth.


Benefits of Using Electric Buses

  • Renewable energy- The batteries which are utilized in an electric vehicle that includes electric buses are renewable in nature. This makes electric buses a sustainable mode and is usually preferred over traditional fuel buses.
  • Government Support- Since electric buses help curb carbon emissions, thus, a lot of government support is rendered to the manufacturers.
  • Lower Maintenance Costs- The demand for electric buses has grown significantly due to very less maintenance of the bus. These buses are a game changer and are chosen over traditional buses. These buses are no less than a game changer and are preferred over conventional buses.
  • Noise Reduction- Regarding public transport, the preferable option is for something which is noise-free and comfortable. Since the electric buses run on electricity, the noise created is very less and gives the passenger a good travel experience.

Disadvantages of Electric Vehicles

1- Taking a Long Time to Charge- The time taken for charging electric buses depends upon the model of the bus. With the limited charging infrastructure present around the world, there is a long queue for charging electric vehicles.

2- More Expensive- Electric buses are more expensive than the other traditional vehicles, as it consumes a large amount of energy for charging the battery.

3- Limited Range- The distance between the charging station is long, thus, the drivers have to plan their trip accordingly. On the contrary part, a recent analysis reported that the electric buses’ maintenance cost is cheaper than that of conventional vehicles. Moreover, battery charging technology has been continuously advancing which is making them more efficient.

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Electric Buses- The Future of Transportation

The bus industry is no exception to taking steps for curbing the carbon emission. Zero-emission buses are an exciting new area of the sector in smart cities. People are transitioning their buses fleet to electric buses vehicles. The majority of the buses on the road are the most intensively utilized vehicles by the major vehicle category. Electric buses are well-suited to electrification since their duty cycles are simple to change. Buses follow set routes and rarely deviate from them.

Electric Buses Market Analysis-

The electric buses market is expected to grow by a CAGR of 17% during the year 2023-2030. According to UNEP, a large amount of carbon is emitted by city buses. As a result, the United Nations Environment Programme (UNEP) is providing policy and technical support to around 20 cities. Aid is provided to develop and map out low-emission measures such as the fabrication of e-buses. The ICCT (International Clean Transportation Council) and UNEP have joined forces to give technical assistance and develop clean electric buses. There has been an increase in private and public relationships. For example, in India EKA Mobility has won the tender to deliver 310 units of EKA9 electric bus to 3 states.

Latest Trends of the Electric Bus-

The electric bus has remained a buzzword in the transport industry. Some of the latest development is written as follows-

  • The National Transport Authority of Ireland has received a contract that was signed by Alexander Dennis Limited and BYD UK. They both intend to provide up to 200 BYD ADL Enviro200EV battery-powered, zero-emission buses.
  • Usable energy commitment is currently being offered by Volvo buses as a commercial option. The step is taken to ensure the availability of electric buses.

Electric Bus Market- Regional Synopsis

It has been estimated that the Asia Pacific region dominated the global electric buses market and it was valued at approximately 167.1 thousand units in the year 2020. In this region, China is leading and accounts for having the largest market in terms of quantity. Furthermore, Europe is also providing various opportunities in the province of the electric bus market. There are strict policies in the region for curbing carbon emissions.

List of key Companies-

Some of the prominent key companies in the electric bus industry-

  • 1- Byd Co., Ltd
  • 2- AB Volvo
  • 3- New Flyer Industries
  • 4- Proterra Inc
  • 5- Xiamen King Long United Automotive Industry Co., Ltd
  • 6- VDL Groep bv
  • 7- Daimler AG
  • 8- Yutong
  • 9- Iveco

Wrapping up-

The sector for electric buses is expected to grow rapidly and offers a wide range of options. It is wise for someone who wants to invest in the electric bus organization to be familiar with its nuances. A research report with all the crucial information was recently released by the Research Nester. The report consists of the challenges which the market faces. If the investor is aware of these imperative parameters such as restraints, regional analysis, etc, he/she will be able to take sound decisions for the success of their business.

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swara-keni
Swara Keni

Head- Global Business Development

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