Worldwide electric drive buses sales is expected to grow at a compound annual growth rate of 26% from 2012 to 2018, according to a report by Pike Research.
According to the report, 'Electric Drive Buses', by 2018 more than 75,000 electric drivetrain buses will be in service around the world.
Pike Research senior research analyst Lisa Jerram said the biggest challenge for electric drive technologies has been the cost premium over conventional diesel buses or buses that run on compressed natural gas.
"This premium has maintained for hybrids, even as they have seen significant adoption in the North American market. Fuel economy savings are critical to making the case for bus operators to pay more, especially in developed countries that are facing increasing austerity in their public budgets," Jerram said.
"Typically, hybrid buses need to show fuel economy improvements of around 40 percent, at current U.S. diesel prices, to pay off the price premium over the life of the bus."
Region wise, Asia Pacific will lead the e-bus market with more than 15,000 electric buses in service by 2018, accounting 75% of the worldwide market, while North American sales are expected to reach just fewer than 2,500 in the same year.
