Lithium ion Batteries to Register Highest Growth in UK Electric Bus Market until 2024

Increasing concerns towards global warming along with rising air pollution level to drive United Kingdom electric bus market through 2024

United Kingdom Electric Bus Market

According to TechSci Research report, United Kingdom Electric Bus Market By Seating Capacity, By Battery Type, By Application, By Bus Length, Competition, Forecast & Opportunities, 2024”, United Kingdom electric bus market is expected to grow at a formidable rate during the forecast period owing to the rising environmental concerns and increasing focus on clean energy adoption. Additionally, government is providing incentives and subsidies for promoting the adoption of electric buses, which is further driving the market. However, expensive charging stations are likely to hamper the growth of the market in the coming years. Additionally, a fuel subsidy in the United Kingdom has slowed down the shift towards electric buses as compared to other European Union countries.

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

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The United Kingdom 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 fragmented into up to 30-seater, 31-40-seater and above 40. The up to 30-seater bus segment is expected to hold a significant market share during the forecast period owing to rising preference for small seater buses by the transport authorities. Based on battery type, the market can be segmented into lead acid and lithium ion. Lithium ion battery segment is expected to register the highest CAGR during forecast period since it provides very high specific energy and a large number of charge-discharge cycles. Additionally, they are easily available and are cost-effective as well.

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Alexander Dennis Limited, VDL Bus & Coach, Ankai UK Bus and Coach, BYD (U.K.) CO., Ltd., Mellor Coachcraft, Optare, Pelican Bus & Coachy, Volvo and others are some of the leading players operating in United Kingdom electric bus market. “United Kingdom is one of the largest and fastest growing markets in the European Union and is expected to create huge opportunities for the electric bus market. Rising preference for electric buses among both passengers and drivers coupled with funding from the Department for Transport to support the purchase of new electric and hydrogen models is further anticipated to fuel growth in the market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

United Kingdom 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 United Kingdom 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 United Kingdom electric bus market.

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