Japan Electric Bus Market to Grow at Formidable Rate through 2024

Rising environmental concerns and increasing government investments in fuel saving technologies to drive Japan electric bus market through 2024

According to TechSci Research report, “Japan Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024”, Japan electric bus market is expected to grow at a formidable pace during the forecast period owing to the increasing fuel prices. Additionally, governments of all highly polluted and populated cities are shifting towards electric vehicles, which is further driving growth in the market. However, factors like less range, higher weight, higher procurement costs, among others are likely to hamper the growth of the market. Additionally, the use of electric buses exclusively in urban areas rather than long haul transport is further restricting the growth of the market.

Browse market data Tables and Figures spread through 70 Pages and an in-depth TOC on “Japan Electric Bus Market”

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BYD Japan Co. Ltd., Hino Motors Ltd., INVECO S.p.a., Ryobi Holdings Co., Ltd. and others are some of the leading players operating in Japan electric bus market. The Japan 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. Additionally, ease of boarding and capacity of storing large volume of luggage is further making it a popular choice. Based on bus length, the market can be segmented into 6-8m, 9-12m and above 12m. The 9-12cm length market is anticipated to register the highest CAGR during the forecast period owing to their precise length which is suitable for transit bus service.

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“Japan is one of the fastest growing markets in the APAC region and is expected to create huge opportunities for the electric bus market. Additionally, exponential increase in demand for electric bus in Japan is backed by the fact that government is providing subsidies and tax benefits to electric bus manufacturers.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Japan 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 Japan 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 Japan electric bus market.

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