The latest report by IMARC Group, titled “Ethanol Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global ethanol bus market is expected to exhibit a CAGR of 11.05% during 2023-2028. 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.
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.
- Based on the type, the market has been bifurcated into first-generation and second-generation ethanol buses.
- On the basis of the application, the market has been segmented into school, municipal traffic, and others.
- Based on the ethanol source, the market has been classified into corn, sugarcane, wheat, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being AUDI AG, Fiat Chrysler Automobiles N.V., Ford Motor Credit Company LLC, General Motors Company, Isuzu Motors Limited, Jaguar Land Rover Limited, Deere & Company, Nissan Motor Company, Scania CV AB, Toyota Motor Corporation, and Volkswagen AG.
|Base Year of the Analysis
||Type, Application, Ethanol Source, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Russia, China, Japan, India, South Korea, Brazil, Mexico
||AUDI AG, Fiat Chrysler Automobiles N.V., Ford Motor Credit Company LLC, General Motors Company, Isuzu Motors Limited, Jaguar Land Rover Limited, Deere & Company, Nissan Motor Company, Scania CV AB, Toyota Motor Corporation, and Volkswagen AG
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