India Electric Bus Market | 2019-2032

The India Electric Bus market to cross mark US$ XX Mn by the end of 2023, driven by favorable government initiatives, efforts to reduce air pollution, and dependency on fossil fuels. Additionally, state governments in India are implementing pilot projects and placing orders for electric buses.

India is emerging as a significant e-bus market as transportation agencies in the country are focusing on gradually replacing conventional buses with electric buses. Further, in a recent move (September 2023) the US announced a plan to collaborate with the Indian government on the e-bus project, under which it will be deploying 10,000 made-in-India e-buses across major Indian cities. This is projected to give a boost to the India e-bus market and automotive industry as well.

Ongoing advancements in battery technology, including improved energy density and decreased costs, have made electric buses more practical and affordable. These developments have extended the driving range of e-buses, reducing concerns about range limitations. Moreover, increasing investment in charging infrastructure, including depot charging and fast-charging stations, has made it more convenient and practical to operate e-buses. These factors are anticipated to drive growth of the India e-bus market during the forecast period. Key e-bus providers operating in India e-bus market are Tata Motors, Ashok Leyland, Volvo Buses India, JBM Auto, Goldstone Infratech, Olectra Greentech, Tata Marcopolo, Kinetic Green Energy & Power Solutions, Mitra Mobility Solution, and VE Commercial vehicles Ltd.

INDIA ELECTRIC BUS MARKET COVERAGE:

KEY HIGHLIGHTS:

• Actual India electric bus market data for 2019, 2020, 2021, and 2022
• Estimated India Electric Bus market value for the year 2023 and market growth prospect between 2023 and 2032
• Historical YoY growth and forecast trend at granular level
• Cross sectional analysis of type segment at application level
• Summary of key growth factors, challenges, and opportunities shaping electric bus industry
• Rationale for individual segment growth and decline
• Product and price differentiation, branding & distribution channel strategies
• Market entry strategies and routes to market
• Key player positioning and benchmarking