Middle East & Africa Electric Bus Market to Reach $1.16 Billion by 2028 - ResearchAndMarkets.com
The "Middle East & Africa Electric Bus Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Vehicle Type, Hybrid Powertrain, Battery, and End User" report has been added to ResearchAndMarkets.com's offering
DUBLIN--(BUSINESS WIRE)--Sep 19, 2022--
The "Middle East & Africa Electric Bus Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Vehicle Type, Hybrid Powertrain, Battery, and End User" report has been added to ResearchAndMarkets.com's offering.
The MEA electric bus market is expected to grow from US$ 410.66 million in 2021 to US$ 1,163.89 million by 2028; it is estimated to grow at a CAGR of 16.0% from 2021 to 2028
Electric buses employ a variety of batteries. Low-cost lithium ion-phosphate batteries are increasingly used in electric buses. Batteries made of lithium-ion phosphate are both cost-effective and robust. The average price of these batteries is a significant benefit for automakers.
Due to its speed, safety, and excellent thermal stability, lithium-ion phosphate batteries have seen a phenomenal increase in sales in recent years. To meet the growing demand for longer drives, market participants are implementing technical improvements to improve the operational efficiency of batteries. This will increase electric bus sales.
Electric bus manufacturers are always trying to improve efficiency and increase the range of their vehicles. Furthermore, the production of high-density Nickel, Manganese, and Cobalt (NMC) batteries is subject to significant intellectual property rights. Moreover, LFP batteries avoid the risk of litigation and simultaneously promote domestic battery suppliers over competitors such as LG Chem and Samsung. Thus, the rising production of low-cost lithium ion-phosphate batteries is expected to drive the demand for the electric bus market during the forecast period across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA electric bus market . The MEA electric bus market is expected to grow at a good CAGR during the forecast period.
MEA Electric Bus Market Segmentation
The MEA electric bus market is segmented based on vehicle type, hybrid powertrain, battery, end user, and country.
Based on vehicle type, the market is segmented into the battery-electric bus, hybrid electric bus, and plug-in hybrid electric bus. The battery-electric bus segment dominated the market in 2021.
Based on hybrid powertrain, the market is segmented into series-parallel hybrid, parallel hybrid, and series hybrid. The parallel hybrid segment dominated the market in 2021.
Based on battery, the market is bifurcated into lithium iron phosphate (LIP) and lithium nickel manganese cobalt oxide (NMC). The lithium iron phosphate (LIP) segment dominated the market in 2021.
Based on end user, the market is bifurcated into public and private. The public segment dominated the market in 2021. Based on country, the MEA electric bus market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of MEA. Saudi Arabia dominated the market in 2021.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. MEA Electric Bus Market Landscape
5. MEA Electric Bus Market - Key Market Dynamics
6. Electric Bus Market - MEA Analysis
7. MEA Electric Bus Market Analysis - By Vehicle Type
8. MEA Electric Bus Market Analysis - By Hybrid Powertrain
9. MEA Electric Bus Market Analysis - By Battery
10. MEA Electric Bus Market Analysis - By End User
11. MEA Electric Bus Market - Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/iw9q2t
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KEYWORD: MIDDLE EAST
INDUSTRY KEYWORD: PUBLIC TRANSPORT TRANSPORT AUTOMOTIVE ALTERNATIVE VEHICLES/FUELS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/19/2022 08:59 AM/DISC: 09/19/2022 08:59 AM
http://www.businesswire.com/news/home/20220919005528/en
