Electric Bus Market
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global electric bus market was worth USD 37.0 billion in 2021 and is estimated to grow at a CAGR of 10.5%, earning revenue of around USD 71.2 billion by the end of 2028. The electric bus market is gaining significant traction because of the increasing fuel prices and declining levels of non-biodegradable resources. As a result, the government of different countries is taking various initiatives to promote the use of electric buses instead of traditional fuel buses. Additionally, government authorities are significantly investing in public transport infrastructure and the launch of electric buses to promote their zero-emission agenda, which is anticipated to propel the demand for electric buses during the forecast period. However, the high cost of electric buses compared to traditional buses may act as a huge restraint for the growth of t...