The global electric shuttle market is prophesied to create substantial growth opportunities due to important factors such as strong government support, availability of tax benefits and incentives, and growing awareness about greenhouse gas emissions. Increasing need to improve air quality, technological advancement, and growing focus on developing transportation systems could be other crucial factors driving the demand for electric shuttle. In June 2019, it was announced that Australian public transport company Transit Systems will run a couple of BYD electric shuttles in Sydney on behalf of Transport NSW. The electric shuttles will be operated as part of a trial to reduce noise and replace diesel shuttles with a zero emissions alternative in the city.
Advantage of Zero Carbon Dioxide Emission to Increase Demand
Global demand for electric shuttle is foretold to see a rise as a result of increasing implementation of government policies and regulations that stress on reducing emission levels. Electric shuttle manufacturers promising zero carbon dioxide emission are expected to attract a high number of end users. Rising air pollution levels and increasing need to reduce crude oil imports could be other factors strengthening the growth of the global electric shuttle market. Furthermore, electric shuttle offers several advantages such as low maintenance and less noise. High demand for long-term cost and environmental benefits in the public transport sector is also expected to push the global market growth to the next level.
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- High emphasis of governments on reducing vehicular emissions to increase demand
- Battery electric shuttles to account for a dominant share of the global market
- Asia Pacific to take lead in terms of share while riding on China's strong sales
- Companies to sign merger and acquisition deals to increase market share
Players to Focus on Development of Battery Electric Shuttles
The report covers important manufacturers of electric shuttle, including AB Volvo, Proterra Inc., Yutong, Daimler AG, Zhongtong, Solaris Shuttle, Ashok Leyland, Alexander Dennis, ESHUTTLECO, Shenzhen Wuzhoulong, and BYD Company Limited. Manufacturers are foreseen to construct new facilities and adopt merger and acquisition as a key strategy for cementing a leading position in the global market. According to researchers, BYD could be among key players banking on international and domestic orders.
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Transit Shuttles
- School/University Shuttles
According to analysts, battery electric vehicles are projected to exhibit remarkable growth in the global electric shuttle market. The preference for battery electric vehicles could increase due to their low carbon emission levels and affordable prices of batteries. The report also includes a broad study of four key applications, viz. school/university shuttles, transit shuttles, shuttles, and others.
Regionally, Asia Pacific is forecast to account for a significant share of the global electric shuttle market as China continues to show dominance on the back of its larger production and consumption. China's market growth could also be attributed to government efforts to meet air quality targets, supportive regulations, attractive subsidies, and national sales targets.
The all-encompassing price analysis provided in this research study helps readers to understand price thresholds impacting brand equity and effects of price change on revenue in the global electric shuttle market. The authors of the report have also shed light on profit growth opportunities and customer perception and sensitivity as part of the price analysis. Furthermore, the report offers a deep study on customer's switching behavior and loyalty, optimal tiered structures, what-if scenarios for testing price strategies, price optimization for competitive price strategies and position, margin targets, revenue, and volume, and price elasticity.
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