U.S. Electric Bus Market Overview
The U.S electric bus industry is projected to rise in the near future, led by environmental advantages. Stringent regulations to reduce emissions, availability of federal, state. And local funding for zero-emission buses, long-term economic advantages to transit agencies. Reducing battery costs, and better operational efficiencies.
Under the length segment, around 40-foot buses. Capture a significant share of the industry and they are projected to capture a larger industry share in the coming years.
The mileage difference between diesel and diesel-hybrid buses benefits hybrid technology for longer buses. A 60-foot articulated diesel-hybrid bus comes with better fuel mileage, around 38.5%. Compared to a same-size diesel bus. While a The 40-foot diesel-hybrid bus offers 21.2% better fuel mileage, compared to a 40-foot diesel bus.
U.S. Electric Bus Market Growth Drivers
Under the battery segment, lithium-ion (Li-ion) batteries capture the largest industry share. It is expected to retain the same position in the near future, in terms of value and volume. The reduced prices of Li-ion batteries, with benefits such as maintenance costs, low weight, smaller size. Self-discharge rate and higher energy density compared to nickel-metal hydride variants propel the industry.
U.S. Electric Bus Market Challenges
In addition, the decreasing air quality in urban regions of the country encourages both private and government transit agencies for purchasing BEBs. Under the charging type segment, the inductive charging technology is projected to experience the fastest growth in the near future. In terms of both value and volume. It is due to the quick charging of electric buses and reducing the the anxiety of operators. Numerous charging systems manufacturers are collaborating with bus manufacturers and public transit authorities to fuel the adoption of technology.
Programs and projects, including American Fuel Cell Bus and National Fuel Cell Bus The program has boosted the electric buses adoption in the nation. It fuels the policy groundwork. Technology transfer, and growth of components manufacturers in the electric bus industry of the U.S.
U.S. Electric Bus Market Opportunities
Moreover, numerous states of the country are focusing on product development policies to conform to air quality and climate change mitigation standards. There are numerous funding programs that fuel the vehicle’s adoption and also propel the industry’s growth.
U.S. Electric Bus Market by Application
The increasing concerns of environmental agencies and local governments over the deteriorating environment. Owing to the rising urban vehicular emissions. Are resulting in the enactment of strict emission control regulations in the U.S. Presently. Diesel-powered buses are a crucial part of the country’s public transportation system. But they are major emitters of toxic greenhouse gases. Thus, the enactment of strict environmental regulations is fueling the adoption of zero- and low-emission transport systems. Which is, in turn, propelling the growth of the U.S. electric bus market.
For instance, under the Low or Emission Grant Program. Grants have been given to more than 50 states and local governments. Amounting to $182.9 million to lease or purchase zero-emission and low-emission transit buses.