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India Electric Bus Market during Forecast 2022-2028

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India Electric Bus Market was worth USD 127.45 million in the year 2021. The market is projected to grow at a CAGR of 52.8%, earning revenues of around USD 2,218.05 million by the end of 2028.

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India Electric Bus Market during Forecast 2022-2028

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  1. India Electric Bus Market, By Type, Trend Analysis, Competitive Market Share & Forecast, 2022-2028

  2. India Electric Bus Market - Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India Electric Bus Market was worth USD 127.45 million in the year 2021. The market is projected to grow at a CAGR of 52.8%, earning revenues of around USD 2,218.05 million by the end of 2028. The India Electric Bus Market is booming because of the expanding Indian automotive industry. Moreover, the market for electric buses is predicted to grow due to rising government initiatives, local manufacturing growth, accelerated urbanization, and increased environmental awareness.

  3. Growth Drivers  Growing Demand for Zero-Emission and Energy-Efficient Mass Transit Solutions The transportation sector is a major contributor to greenhouse gas emissions. According to the research, the transportation sector accounts for roughly one-quarter of all energy-related greenhouse gas (GHG) emissions and is a major source of urban and regional air pollution. Vehicle emissions including buses are solely responsible for emitting ozone-depleting substances, which cause air pollution and are hazardous to the environment. Moreover, various governments across the country have launched initiatives to make urban public transportation more sustainable and fuel-efficient through the use of electric buses. In the upcoming years, the adoption of electric buses will revolutionize public transit globally by enhancing air quality, lowering noise levels, and boosting fuel efficiency.

  4. Restraints  Expensive Development Costs Electric bus manufacturers are severely constrained by the high cost of developing electric buses and coaches, as well as related parts like batteries and monitoring systems (battery management systems, CAN bus modules). Infrastructure development for EVs comes at a very high cost. The cost of constructing the world's infrastructure is close to USD 2.8 trillion. Electric vehicle (EV) charging stations are the only places where additional equipment, such as electric chargers, can be used to often and quickly recharge an EV's battery. Multiple places need to be equipped with high-capacity charging stations. Electric buses and coaches are more expensive than conventional ICE buses and coaches because of the battery, charger, and installation costs associated with the charger.

  5. Impact of COVID-19 The COVID-19 epidemic impacted the electric bus business as e-bus manufacturing facilities have had to close as a result of the countrywide lockdown that has been implemented in all regions. Additionally, the lack of skilled workers has hampered market expansion. Moreover, most global businesses were negatively impacted by the COVID-19 pandemic. It had a conflicting effect on the market for electric buses.  Sample Copy of the Report: https://www.blueweaveconsulting.com/report/india-electric-bus-market/report-sample

  6. Recent Developments • In August 2019, the government announced plans to procure 5,585 electric buses, to help clean up the environment.

  7. Competitive landscape The leading market players in the India Electric Bus Market are Ashok Leyland Limited, JBM Auto Limited, Solaris Bus & Coach S.A., Deccan Auto Limited, OlectraGreentech Limited, Tata Motors Limited, Zhongtong Bus & Holding Company Limited, BYD Company Limited, Eicher Motors Limited, and other prominent players.

  8. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  9. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

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