INDIA ELECTRIC BUS MARKET
India is world`s second biggest bus market after China, with ~90,000-100,000 units sold per annum. But, more than 95% of them are Diesel powered. As governments around the world push for E-mobility, India is also making a concerted push for faster adoption of Electric buses. As of Feb 2020, there are more than 2,000 electric buses running in various parts of India, mostly by private operators.
INITIATIVES FOR PROMOTING ELECTRIC BUSES IN INDIA
- The government think-tank “Niti Ayog” has issued a model concession agreement for public private partnership (PPP) aimed at the operation and maintenance of electric buses across various cities in India
- The FAME-2 scheme proposes incentive of up to 5.5 Million INR( ~$800,000) for long electric buses, 4.5 Million INR( ~$650,000) for midi buses and 3.5 Million INR( ~$500,000) for mini buses. Although, incentives in FAME 1 were higher (upto 10 million INR-$140,000)
- The first first inter-city electric bus service with a range of 300km, between Mumbai and Pune was inaugrated on 14th Feb 2020.The government of India has asked private parties to setup EV charging infrastructure on India`s first Electric highway on Delhi-Mumbai to promote E-mobility including E-buses on regional routes
- The West Bengal state government now plans to procure 80 Electric buses via OPEX model. In OPEX model, the vendor selected via competitive bidding bears the cost of acquiring, ticketing and running the vehicle whereas the lesse(government) pays charges on per kilometre basis
MARKET SIZE AND FORECAST
As of Dec 2019, more than 23 State transport undertakings had placed cumulative order for ~5,500 electric buses to be delivered by 2024.
Maharshtra, Uttar Pradesh and Gujarat have sanctioned, 725,600 and 550 E-buses respectively i.e. 35% of total E-bus orders in India for next 4-5 years.
ELECTRIC BUSES AVAILABLE IN INDIA
- Tata Motors has 9 meter AC Electric bus with 150 kilometers on a single charge
- JBM Group `s electric bus can run 150-200 kms in 10-15 hours of city transport activity, contingent upon the city’s traffic conditions
- Olectra Greentech Formerly Goldstone Infratech in tie-up with BYD Auto has a 9 meter(32 seater) AC low floor bus and can deliver 250 kms in a single charge. The powerful AC charging framework empowers the battery to get completely energized in 2-3 hours.
- In Feb 2020, BYD- Olectra launched a new electric C9 45 to 49-seater electric bus with 350 km range on a single charge with max power of 360 kw and a speed of over 100 kmph, aimed at inter-city transportation. It plans to deply 300 such buses across Public and private operators.
- The Eicher Skyline Pro E buses are powered by REVOLO technology, which is an inventive stage that works on a lower voltage and permits recovery to have the most extreme conceivable range with the least conceivable battery.
Presently, BYD-Olectra is a leading player in India electric bus market with more than 200 buses plying across country.it also has sizeable chunk of new orders(1,500+ buses) in pipeline from various STUs(State Transport undertaking). PMI Electro Mobility Solutions, has a technical tie-up with Chinese CV maker Beiqi Foton Motors, is the second most popular choice of STUs for E-bus. It has close to 800 E-bus orders till date. The market leaders of conventional buses, Tata and Ashok Leyland have developed hybrid as well as Pure electric buses but have very few electric buses plying on Indian roads at present.
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- Market Size and Forecast, by geography($M)
- Opportunities and risks in India Electric Bus Market
- Important technology trends and regulatory changes
- 5 key predictions for next 5 years in India Electric Bus Market
- Competitive landscape and market share of leading vendors
Frequently Asked Questions (FAQ)
What was the market size of India Electric Bus Market in 2019?
Who is the market leader in India Electric Bus Market?
Which states are the leading adopters of Electric buses in India?
What is the average cost of an Electric Bus in India?
How Big is Electric Bus market in India compared to China Electric Bus market?