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The latest report by IMARC Group, titled “Ethanol Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global ethanol bus market size is expected to exhibit a CAGR of 11.23% during 2022-2027. An ethanol bus is a passenger bus that uses ethanol as fuel. Ethanol is produced by fermenting crops containing starch and sugar grains, such as corn, sugarcane, or sweet beets. It is usually blended with gasoline or other fuels to be used in vehicles and for powering automobiles. Compared to traditional diesel- and petrol-run buses, these vehicles are environment-friendly, cost-effective, and reduce the overall dependency on fossil fuels. Owing to these properties, ethanol buses are widely used for mass transportation purposes.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Ethanol Bus Market Trends:
The market is primarily driven by the increasing adoption of green fuels due to the introduction of environment-friendly automobiles. In addition, the implementation of government initiatives to minimize air pollution levels represents another major growth-inducing factor. For instance, emerging economies, such as India, are launching ethanol buses to minimize carbon and greenhouse gas (GHG) emissions into the environment and offer a cost-effective mode of public transport. Besides this, various technological advancements in the manufacturing processes of ethanol and other biofuels are creating a positive outlook for the market. Moreover, second-generation ethanol is widely gaining prominence as its usage is associated with significantly reduced GHG emissions as compared to its first-generation counterpart, which in turn is propelling the market growth.
Market Summary:
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