Lithium Ion Batteries to Dominate Singapore Electric Bus Market

Rising environmental concerns and supporting government policies are expected to drive growth of Singapore Electric Bus market

According to TechSci Research report, “Singapore Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024”, Singapore electric bus market is expected to grow at a steady rate during the forecast period owing to the supportive government initiatives and mounting alarm about rising environmental pollution. Additionally, higher fuel efficiency, noise mitigation, thermal stability, less traffic, less maintenance cost, among others are some of the factors supporting the growth of electric bus market in the country. However, the battery and charging infrastructure issues are likely to pose a challenge in the coming years.

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

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Singapore electric bus market is segmented based on seating type, battery type, application and bus length. Based on battery type, the market has been bifurcated into lead acid and lithium ion. Lithium ion battery segment dominates the market on account of their higher safety, reliability, easy availability and low cost. Additionally, Li-ion batteries offer higher energy density, columbic energy and specific energy compared to lead acid batteries. Based on bus length, the market can be categorized into 6-8m, 9-12m and above 12m segments. The 6-8m length electric bus segment is expected to register the highest CAGR during the forecast period owing to the segment being the preferred choice among diverse consumer segments.

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BYD (Singapore) Pte. Ltd., ST Engineering Land Systems, Volvo and Ebus are few of the leading players operating in Singapore electric bus market. “Singapore is one of the emerging electric bus markets in the Asia-Pacific region and is expected to create huge opportunities for electric bus companies in the coming years. Additionally, exponential increase in demand for electric buses in Singapore is backed by the fact that government provides subsidies and tax benefits to electric bus manufacturers, and also is taking policy initiatives to boost their adoption among users.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Singapore Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Forecast & Opportunities, 2024” has evaluated the future growth potential of Singapore 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 Singapore electric bus market.

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