According to TechSci Research report, “Saudi Arabia Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024”, the country’s electric bus market is anticipated to grow at an impressive rate during the forecast period on account of the fact that buses are the only means of public transport in several cities of the country. Moreover, government efforts for the use of clean fuel vehicles, growing tourism and surging demand for safe mobility are further driving the electric bus market in Saudi Arabia. Furthermore, the country is planning to manufacture buses locally so as to save import costs and create employment opportunities, thereby boosting the domestic industry and reducing reliance on oil exports.
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Saudi Arabia electric bus market is segmented based on seating type, battery type, application,
bus length, region and company. Based on seating type, the market can be categorized
into up to 30-seater, 31-40-seater and above 40. The up to 30-seater segment is
expected to hold the largest market share during the forecast period. This can
be accredited to its compact body which gives it the agility to maneuver
through the city. On the basis of battery type, the market can be bifurcated
into lead acid and lithium ion, of which, the latter is the preferred battery
type in the country.
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HIGER and Ankai are two
of the leading players operating in Saudi Arabia electric bus market. “Electric
bus market in Saudi Arabia is poised to grow at a formidable rate during the forecast
period on account of rising focus of government on increasing the number of
Umrah and Haj pilgrims by providing efficient, clean and reliable
transportation. Additionally, in order to improve public transportation in the
country, the capital, Riyadh placed an order of 600 Mercedes-Benz Citaro buses
with the Daimler. Increasing number of such developments would fuel growth in
the market over the next five years.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Saudi Arabia electric bus market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Saudi Arabia electric bus market.
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