Published Date : 22 Jul 19 | Views: 12 | Industry : Electronics & Semiconductor
Global Electric Shuttle market is segmented into type and application. By type, the market is primarily segmented into Hybrid Electric Vehicle and Battery Electric Vehicles. Transit Shuttle, Shuttles, School/University Shuttles, and Others are the segments fall under the category of application. According to the report, the battery electric vehicle segment is forecasted to show significant growth in global Electrical Shuttle market. Rising inclination towards battery electric vehicles due to its affordability and low carbon emission is accelerating the demand for Electric Shuttle in the global market.
Geographically, Asia Pacific is expected to obtain a major share of global Electric Shuttle market. The electric vehicle market is concentrated in a few countries like China, Germany, Netherlands, Britain, Japan, Canada, U.S., France, and Norway. However, China dominates the global market. The Chinese government focuses on air quality standards, regulations, lucrative subsidies, and national sales target which results in larger consumption and production of Electric Shuttle. Automotive manufacturers are concentrating on the development of electric vehicles adhere to the emission norms of each country which leads the growth of Electric Shuttle market.
The key players functioning in the market are Wuzhoulong, Daimler AG, AB Volvo, Solaris Shuttle ESHUTTLECO, Alexander Dennis, Ashok Leyland, BYD Company Limited, Zhongtong, Proterra Inc., Shenzhen, and Yutong.
Electric Shuttles are widely accepted for less requirement of services and low cost of maintenance, these factors are likely to expand the public transport sector. Global warming and replacement of conventional vehicle with the electric shuttle is anticipated to fuel the growth of Electric Shuttle market. The government’s effort towards the reduction of carbon footprint, especially in public transportation records significant growth in the Electric Shuttles market in the coming years. The simple operation of Electric Shuttle as compared to traditional motors is propelling the demand for Electric Shuttle. One of the important factors which is responsible for driving the growth of the Electric Shuttle market is these vehicles emit zero carbon dioxide this is expected to attract a large number of end users. Additionally, Electric Shuttle gives many benefits such as less noise and low maintenance.