Electric Bus Market to grow by USD 21.0 Billion from 2024-2028, driven by reduced battery prices, with AI transforming market trends - Technavio [Yahoo! Finance]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Yahoo! Finance
The market is fragmented, with key players including AB Volvo, BKM.BY, and BYD Co. Ltd. The growth is driven by the need to reduce vehicle emissions and combat air pollution, with urbanization and public health concerns adding to the urgency for zero-emission vehicles. However, the market faces challenges due to decreasing demand for public transportation and the rising production of affordable cars, which is limiting the demand for electric buses. NEW YORK Dec. 4, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global electric bus market size is estimated to grow by USD 21.0 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 16.3% during the forecast period. Reduction in battery prices of electric buses is driving market growth, with a trend towards increasing popularity of wireless charging systems. However, declining number of public transport users poses a challenge. Key market players include AB Volvo, BKM.BY, Boll
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