Electric Bus Market Size is projected to reach USD 3.1 Billion by 2030, growing at a CAGR of 18%: Straits Research

New York, United States, July 07, 2022 (GLOBE NEWSWIRE) -- Global electric vehicle market  is growing at a rapid pace with the increase in fuel prices and the overall awareness spread regarding the hazardous effects of emissions from conventional vehicles. With major countries opting for electric buses for their public transport means, the global electric bus market is gaining a forward push to reach the all-time high revenue figures during the forecast period (2022– 2030). The evolution of electric vehicles reduces carbon and other hazardous emissions into the atmosphere. Along with this, the increase in demand for fuel-efficient vehicles with high performance and low emissions is driving the electric vehicles market on a positive note. High Demand for Fuel-Efficient, High-Performance and Low Emission Buses Driving the Global Electric Bus Market Growth The conventional fuels like petrol and diesel will not be there as these are not renewable sources of energy and will soon get exhausted with time. To support sustainable development and environment saving activities, there was a need to find alternative sources of fuel, which led to the evolution of electric vehicles. Electric buses are way more economical than conventionally fueled buses, as the electric bus converts over 50% of the electric energy from the grid power at the wheels. The demand for electric vehicles has increased with the high performance and the high fuel efficiency offered. At one full charge, an electric bus can travel up to 150kms of distance, which is just amazing and cost-saving. Report Scope Report Metric Details Market Size USD 3.1 Billion by 2030 CAGR 18% (2022-2030) Historical Data 2019-2020 Base Year 2021 Forecast Period 2022-2030 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered By Propulsion Type, By Power Output, By Region Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World Key Companies Profiled/Vendors AB Volvo, Ankai Bus, BYD Company, Daimler AG, NFI Group Inc. Key Market Opportunities Technological Advancements with Proactive Government Initiatives Create Huge Opportunities Key Market Drivers Increase in Demand for Fuel-Efficient, High-Performance and Low Emission Buses Driving Global Market Reduction in Battery Prices Boosting the Global Electric Bus Market Growth Get a Free Sample Copy of This Report @  https://straitsresearch.com/report/electric-bus-market/request-sample Reduction in Battery Prices Boosting Global Electric Bus Market Growth Electric vehicles can't be worked constantly on an AC power supply due to power fluctuations. Hence all such vehicles ... Full story available on Benzinga.com