India Electric Bus Market, By Seating Capacity (Up to 30 Seater; 31-40 Seater; Above 40), By Battery Type (Lead Acid and Lithium Ion), By Application (Intercity; Intracity; Airport Bus), By Bus Length (6-8m; 9-12m; Above 12m), Competition Forecast & Opportunities, 2017-2024
India electric bus market stood at around $ 47.35 million in 2018 and is projected to grow at a CAGR of 37.6% during the forecast period. With growing need for controlling GHG (Greenhouse gases) emissions emitted by vehicles, the government is encouraging the use of electric powered vehicles across various states, which is boosting the demand for electric buses in India.
Electric bus market in India can be segmented based on seating capacity, battery type, application, bus length and region. Based on seating capacity, the market can be further segmented into up to 30-seater, 31-40-seater and above 40-seater. Due to increased demand for electric buses in the city bus segment supported by their comparatively low prices, buses with above 40 seats have emerged as one of the key dominating vehicle segments. In terms of bus length, India electric bus market can be segregated into 6-8 m, 9-12 m, and above 12m. Of all, 9-12 meter is the major segment in the electric bus market on account of length agnostic subsidy offered for smaller buses in the country by State Road Transport Undertakings (STUs).
On the basis of regional analysis, the market can be segregated into north, south, east and west. North region accounted for the highest share in India electric bus market in 2018. With high demand emanating from South India in coming years due to government orders in pipeline, the southern region is expected to exhibit the fastest growth during the forecast period.
Major players operating in the country include JBM Auto Limited, Goldstone Infratech Ltd, Volvo Eicher Commercial Vehicles Limited, Tata Motors Limited, Foton PMI among others. Goldstone has the highest share in electric bus market (almost owns the half of the market) offers two models in the Indian market, K7 and K9 and has bagged orders from Himachal Road Transport Corporation (HRTC) and Brihanmumbai Electric Supply and Transport (BEST).
Years considered for this report:
In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of electric bus manufacturers and companies currently invested in the market and operating in different regions across the country. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research was able to include system manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed service offerings, regional network, and regional presence of all major companies across the country.
TechSci Research calculated the market size for India electric bus market by using a bottom-up technique, wherein the value service data for different vehicle type was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical data of respective companies to arrive at the overall market size. Multiple secondary sources such as directories, databases such as, SIAM, SMEV, World Bank, Company Websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
Report Scope:
In this report, India electric bus market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies operating in the country’s electric bus market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
Electric bus market in India can be segmented based on seating capacity, battery type, application, bus length and region. Based on seating capacity, the market can be further segmented into up to 30-seater, 31-40-seater and above 40-seater. Due to increased demand for electric buses in the city bus segment supported by their comparatively low prices, buses with above 40 seats have emerged as one of the key dominating vehicle segments. In terms of bus length, India electric bus market can be segregated into 6-8 m, 9-12 m, and above 12m. Of all, 9-12 meter is the major segment in the electric bus market on account of length agnostic subsidy offered for smaller buses in the country by State Road Transport Undertakings (STUs).
On the basis of regional analysis, the market can be segregated into north, south, east and west. North region accounted for the highest share in India electric bus market in 2018. With high demand emanating from South India in coming years due to government orders in pipeline, the southern region is expected to exhibit the fastest growth during the forecast period.
Major players operating in the country include JBM Auto Limited, Goldstone Infratech Ltd, Volvo Eicher Commercial Vehicles Limited, Tata Motors Limited, Foton PMI among others. Goldstone has the highest share in electric bus market (almost owns the half of the market) offers two models in the Indian market, K7 and K9 and has bagged orders from Himachal Road Transport Corporation (HRTC) and Brihanmumbai Electric Supply and Transport (BEST).
Years considered for this report:
- Base Year: 2017-2018
- Estimated Year: 2019
- Forecast Period: 2020–2024
- To assess the demand for electric buses in India.
- To analyze and forecast the market size of electric bus market across the country.
- To classify and forecast India electric bus market on the basis of seating capacity, battery type, application, bus length, by region and by company.
- To identify drivers and challenges for India electric bus market.
- To identify market trends and developments in India electric bus market.
- To identify and analyze the profile of leading players involved in India electric bus market.
In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of electric bus manufacturers and companies currently invested in the market and operating in different regions across the country. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research was able to include system manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed service offerings, regional network, and regional presence of all major companies across the country.
TechSci Research calculated the market size for India electric bus market by using a bottom-up technique, wherein the value service data for different vehicle type was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical data of respective companies to arrive at the overall market size. Multiple secondary sources such as directories, databases such as, SIAM, SMEV, World Bank, Company Websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Electric bus manufacturers, distributors and other stakeholders
- Associations, organizations, forums and alliances related to electric buses
- Government bodies such as regulating authorities and policymakers
- Market research and consulting firms
Report Scope:
In this report, India electric bus market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market By Seating Capacity:
- Up to 30 Seater
- 31-40 Seater
- Above 40
- Market By Battery Type:
- Lead Acid
- Lithium Ion
- Market By Application:
- Intercity
- Intracity
- Airport Bus
- Market By Bus Length:
- 6-8m
- 9-12m
- Above 12m
- Market By Region:
- North
- South
- East
- West
Company Profiles: Detailed analysis of the major companies operating in the country’s electric bus market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players.
1. PRODUCT OVERVIEW
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. VOICE OF CUSTOMER
5. INDIA ELECTRIC BUS MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Seating Capacity (Up to 30 Seater; 31-40 Seater; Above 40)
5.2.2. By Battery Type (Lead Acid and Lithium Ion)
5.2.3. By Application (Intercity; Intracity; Airport Bus)
5.2.4. By Bus Length (6-8m; 9-12m; Above 12m)
5.2.5. By Region (North, South, East, West)
5.2.6. By Company (2018)
5.3. Market Attractiveness Index
5.4. Pricing Analysis
6. INDIA ELECTRIC BUS ABOVE 40 SEATER MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Battery Type
6.2.2. By Application
6.2.3. By Bus Length
6.3. Pricing Analysis
7. INDIA ELECTRIC BUS UP TO 30 SEATER MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Battery Type
7.2.2. By Application
7.2.3. By Bus Length
7.3. Pricing Analysis
8. INDIA ELECTRIC BUS 31- 40 SEATER MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Battery Type
8.2.2. By Application
8.2.3. By Bus Length
8.3. Pricing Analysis
9. MARKET DYNAMICS
9.1. Drivers
9.2. Challenges
10. MARKET TRENDS & DEVELOPMENTS
11. POLICY & REGULATORY LANDSCAPE
12. INDIA ECONOMIC PROFILE
13. COMPETITIVE LANDSCAPE
13.1. JBM Auto Limited
13.2. Deccan Auto Limited
13.3. Goldstone Infratech Ltd
13.4. Volvo Eicher Commercial Vehicles Limited
13.5. Tata Motors Limited
13.6. Foton PMI
14. STRATEGIC RECOMMENDATIONS
15. ABOUT US & DISCLAIMER
(Note: The companies list can be customized based on the client requirements)
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. VOICE OF CUSTOMER
5. INDIA ELECTRIC BUS MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Seating Capacity (Up to 30 Seater; 31-40 Seater; Above 40)
5.2.2. By Battery Type (Lead Acid and Lithium Ion)
5.2.3. By Application (Intercity; Intracity; Airport Bus)
5.2.4. By Bus Length (6-8m; 9-12m; Above 12m)
5.2.5. By Region (North, South, East, West)
5.2.6. By Company (2018)
5.3. Market Attractiveness Index
5.4. Pricing Analysis
6. INDIA ELECTRIC BUS ABOVE 40 SEATER MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Battery Type
6.2.2. By Application
6.2.3. By Bus Length
6.3. Pricing Analysis
7. INDIA ELECTRIC BUS UP TO 30 SEATER MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Battery Type
7.2.2. By Application
7.2.3. By Bus Length
7.3. Pricing Analysis
8. INDIA ELECTRIC BUS 31- 40 SEATER MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Battery Type
8.2.2. By Application
8.2.3. By Bus Length
8.3. Pricing Analysis
9. MARKET DYNAMICS
9.1. Drivers
9.2. Challenges
10. MARKET TRENDS & DEVELOPMENTS
11. POLICY & REGULATORY LANDSCAPE
12. INDIA ECONOMIC PROFILE
13. COMPETITIVE LANDSCAPE
13.1. JBM Auto Limited
13.2. Deccan Auto Limited
13.3. Goldstone Infratech Ltd
13.4. Volvo Eicher Commercial Vehicles Limited
13.5. Tata Motors Limited
13.6. Foton PMI
14. STRATEGIC RECOMMENDATIONS
15. ABOUT US & DISCLAIMER
(Note: The companies list can be customized based on the client requirements)
LIST OF TABLES
Table 1: Goldstone-BYD K9 Electric Bus Specifications
Table 2: Goldstone-BYD K7 Electric Bus Specifications
Table 3: India Up to 30 Seats Electric Bus Market Pricing Analysis, FY2018
Table 4: India 31-40 Seats Electric Bus Market Pricing Analysis, FY2018
Table 5: India Above 40 Seats Electric Bus Market Pricing Analysis, FY2018
Table 6: India Electric Bus Incentive Structure Under FAME (Faster Adoption and Manufacturing of Hybrid & Electric Vehicles) Program
Table 7: India Electric Bus Retro Fitment Incentive Structure Under National Mission for Electric Mobility Program
Table 8: India Electric Vehicle Allocation of Funds Under National Mission for Electric Mobility Program
Table 1: Goldstone-BYD K9 Electric Bus Specifications
Table 2: Goldstone-BYD K7 Electric Bus Specifications
Table 3: India Up to 30 Seats Electric Bus Market Pricing Analysis, FY2018
Table 4: India 31-40 Seats Electric Bus Market Pricing Analysis, FY2018
Table 5: India Above 40 Seats Electric Bus Market Pricing Analysis, FY2018
Table 6: India Electric Bus Incentive Structure Under FAME (Faster Adoption and Manufacturing of Hybrid & Electric Vehicles) Program
Table 7: India Electric Bus Retro Fitment Incentive Structure Under National Mission for Electric Mobility Program
Table 8: India Electric Vehicle Allocation of Funds Under National Mission for Electric Mobility Program
LIST OF FIGURES
Figure 1: India Electric Bus Market - Factors Influencing Purchase Decision (N=10)
Figure 2: India Electric Bus Market - Brand Satisfaction Level, By Performance (N=10)
Figure 3: India Electric Bus Market - Brand Satisfaction Level, By Features (N=10)
Figure 4: India Electric Bus Market - Brand Satisfaction Level, By Maintenance Cost (N=10)
Figure 5: India Electric Bus Market - Brand Satisfaction Level, By Battery Life (N=10)
Figure 6: India Electric Bus Market - Brand Satisfaction Level, By Pricing (N=10)
Figure 7: India Electric Bus Market Size, By Value (USD Million), By Volume (Units), FY2017-FY2024F
Figure 8: India Electric Bus Market Share, By Vehicle Type, By Volume, FY2017-FY2024F
Figure 9: India Electric Bus Market Share, By Battery Type, By Volume, FY2017-FY2024F
Figure 10: India Electric Bus Market Share, By Application Type, By Volume, FY2017-FY2024F
Figure 11: India Electric Bus Market Share, By Length Type, By Volume, FY2017 & FY2024F
Figure 12: India Electric Bus Above 40 Seats Market Size, By Value (USD Million), By Volume
(Units), FY2017-FY2024F
Figure 13: India Electric Bus Above 40-Seater Market Share, By Battery Type, By Volume, FY2017-
FY2024F
Figure 14: India Electric Bus Above 40-Seater Market Share, By Application Type, By Volume,
FY2017-FY2024F
Figure 15: India Electric Bus Above 40-Seater Market Share, By Length Type, By Volume, FY2017-
FY2024F
Figure 16: India Electric Bus Up to 30 Seats Market Size, By Value (USD Million), By Volume (Units),
FY2017-FY2024F
Figure 17: India Electric Bus Up to 30-Seater Market Share, By Battery Type, By Volume, FY2017-
FY2024F
Figure 18: India Electric Bus Up to 30-Seater Market Share, By Application Type, By Volume,
FY2017-FY2024F
Figure 19: India Electric Bus Up to 30-Seater Market, By Length Type, By Volume, FY2017-FY2024F
Figure 20: India Electric Bus 31-40-Seater Market Size, By Value (USD Million), By Volume (Units),
FY2017-FY2024F
Figure 21: India Electric Bus 31-40-Seater Market Share, By Battery Type, By Volume, FY2017-
FY2024F
Figure 22: India Electric Bus 31-40-Seater Market Share, By Application Type, By Volume, FY2017-
FY2024F
Figure 23: India Electric Bus 31-40-Seater, By Length Type, By Volume, FY2017-FY2024F
Figure 24: India Electric Bus Market Share By Company.
Figure 25: India Electric Bus Market Share By Region.
COMPANIES MENTIONED
1.JBM Auto Limited
2.Deccan Auto Limited
3.Goldstone Infratech Ltd
4.Volvo Eicher Commercial Vehicles Limited
5.Tata Motors Limited
6.Foton PMI
7. Ashok Leyland
8. Decan Auto
Figure 1: India Electric Bus Market - Factors Influencing Purchase Decision (N=10)
Figure 2: India Electric Bus Market - Brand Satisfaction Level, By Performance (N=10)
Figure 3: India Electric Bus Market - Brand Satisfaction Level, By Features (N=10)
Figure 4: India Electric Bus Market - Brand Satisfaction Level, By Maintenance Cost (N=10)
Figure 5: India Electric Bus Market - Brand Satisfaction Level, By Battery Life (N=10)
Figure 6: India Electric Bus Market - Brand Satisfaction Level, By Pricing (N=10)
Figure 7: India Electric Bus Market Size, By Value (USD Million), By Volume (Units), FY2017-FY2024F
Figure 8: India Electric Bus Market Share, By Vehicle Type, By Volume, FY2017-FY2024F
Figure 9: India Electric Bus Market Share, By Battery Type, By Volume, FY2017-FY2024F
Figure 10: India Electric Bus Market Share, By Application Type, By Volume, FY2017-FY2024F
Figure 11: India Electric Bus Market Share, By Length Type, By Volume, FY2017 & FY2024F
Figure 12: India Electric Bus Above 40 Seats Market Size, By Value (USD Million), By Volume
(Units), FY2017-FY2024F
Figure 13: India Electric Bus Above 40-Seater Market Share, By Battery Type, By Volume, FY2017-
FY2024F
Figure 14: India Electric Bus Above 40-Seater Market Share, By Application Type, By Volume,
FY2017-FY2024F
Figure 15: India Electric Bus Above 40-Seater Market Share, By Length Type, By Volume, FY2017-
FY2024F
Figure 16: India Electric Bus Up to 30 Seats Market Size, By Value (USD Million), By Volume (Units),
FY2017-FY2024F
Figure 17: India Electric Bus Up to 30-Seater Market Share, By Battery Type, By Volume, FY2017-
FY2024F
Figure 18: India Electric Bus Up to 30-Seater Market Share, By Application Type, By Volume,
FY2017-FY2024F
Figure 19: India Electric Bus Up to 30-Seater Market, By Length Type, By Volume, FY2017-FY2024F
Figure 20: India Electric Bus 31-40-Seater Market Size, By Value (USD Million), By Volume (Units),
FY2017-FY2024F
Figure 21: India Electric Bus 31-40-Seater Market Share, By Battery Type, By Volume, FY2017-
FY2024F
Figure 22: India Electric Bus 31-40-Seater Market Share, By Application Type, By Volume, FY2017-
FY2024F
Figure 23: India Electric Bus 31-40-Seater, By Length Type, By Volume, FY2017-FY2024F
Figure 24: India Electric Bus Market Share By Company.
Figure 25: India Electric Bus Market Share By Region.
COMPANIES MENTIONED
1.JBM Auto Limited
2.Deccan Auto Limited
3.Goldstone Infratech Ltd
4.Volvo Eicher Commercial Vehicles Limited
5.Tata Motors Limited
6.Foton PMI
7. Ashok Leyland
8. Decan Auto
