Showing posts with label India Electric Bus Market. Show all posts
Showing posts with label India Electric Bus Market. Show all posts

Why Should You Switch to Electric Buses in India?

Electrification of vehicles is nothing new in the contemporary scenario. This electrification can help the people to play their part in reducing the environmental pollution caused by vehicles. After battery-powered two and three-wheelers, e-buses are also experiencing a growth, supported by many incentives from the government. Indian electric bus industry is experiencing growth and is projected to reach USD 2,766.1 million by 2030

Electric buses are being used throughout the country under the gross-cost contract model, which supports addressing the upfront investment the burden on cash-strapped State Road Transport Undertakings while the driving acceptance by increasing private participation.

Close to 2,000 electric buses have been deployed in India, while there are many e-bus orders is the pipeline.

Why Should You Switch to Electric Buses?

Eco-Friendly

As we all know that conventional vehicles are responsible for a large share of the pollutants that get released into the environment. Though, the lesser-known fact is that buses, despite being less than 15% of city traffic, it is the reason for more than 60% of the carbon emissions. That is why it is a big initiative to electrify public transport to diminish urban pollution. And this is not just for the air-polluting agents, but the silent nature of the electric buses is also a huge advantage for the public.

Healthier Air Quality in Cities = Better Health Outcomes 

 It’s not only the earth that is benefited from lower injurious gas emissions – with improved air quality, we would also live a longer and healthier life. A study was done in China, where the acceptance of zero-emission vehicles is moving at a fast pace, because of health benefits, 

Reduced Noise and Increased Convenience for Travellers

People commonly link public transportation as being populated, noisy, and bumpy rides. This is the main reason for the low acceptance rates of public transport as compared to private car usage. One way to surge the acceptance of public transport is to make the ride more convenient for passengers, and e-engines, not having exhaust system, are more silent than ICE vehicles. 

Lower maintenance costs

As we all know that repairs are comparatively more expensive for EVs than for traditional ICE vehicles, it is also true that electric vehicles require less maintenance. This is due to the pulsing heart of an e-bus is its battery, which makes over 40% of the total price of the vehicle and, if damaged, can be very costly to repair or replace. But, if charged and utilized carefully, an electric vehicle's battery can last a long- and will not require regular repairs.

Lower Cost of Operations

Usually, electricity is much more affordable than conventional fuels. This means that operational cost for the same route is less costly with an electric bus, as opposed to an ICE or hydrogen one. 

Hence, as electric buses emit no pollution, no noise at all, and runs at a fairly less cost, the adoption of e-buses will grow at a rapid rate in the future. 

 


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Indian Electric Bus Market Set to Surge in North India in Coming Years

The Indian electric bus market had a valuation of $94.3 million in 2020 and it is predicted to advance at a CAGR of 48.8% between 2021 and 2025. According to the market research company, P&S Intelligence, the market for electric bus in India will generate a revenue of $1,364.4 million by 2025. The key factors driving the advancement of the market are the increasing implementation of favorable government policies regarding electric bus deployment and the surging domestic manufacturing of electric buses in the country.

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Due to the rapid environmental degradation in the country, the government is enacting various policies and regulations aimed at encouraging the deployment of environment-friendly modes of transportation such as electric buses in the country. The Ministry of Heavy Industry and Public Enterprise announced the eligibility criteria for electric passenger vehicles, buses, and two- and three-wheelers to avail the various benefits sanctioned under the FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) II incentives in March 2019.

Moreover, the government announced the procurement and deployment plan of 5,585 electric buses all over the country in August 2019. These government measures are propelling the expansion of the Indian electric bus market. Besides these initiatives, the soaring domestic manufacturing of electric buses is also fueling the advancement of the market. Many local players are increasingly announcing collaborations with leading foreign players for meeting the surging electric vehicle requirements in the country.

The Indian electric bus market will demonstrate the fastest growth in North India in the coming years. This is credited to the implementation of favorable policies by both state and central governments for promoting the deployment of electric buses in this region. In addition to this, the surging pollution levels and the increasing enactment of strict emission regulations and norms are also fueling the adoption of electric buses by various state transport undertakings in the region.


Hence, it can be said with full surety that the market will register huge expansion in the upcoming years, primarily because of the growing requirement for environment-friendly modes of transportation and the surging enactment of favorable government policies regarding electric bus deployment in the country.

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