This is the world's first report forecasting the global market for electric buses and taxis both hybrid and pure electric. It separately forecasts the market in the most important area, China, and it takes a detailed look at technologies present and future with a blunt assessment of reasons for failure and threats for the future. The market for electric buses and taxis will multiply over 8 times in the next decade, approaching $60 billion not long after that. China will become by far the largest market for both electric buses and electric taxis within the decade. This report looks at the statistics and trends for conventional buses and taxis, the government incentives, paybacks and new technologies with detailed tables and figures to summarize the situation, so the reader can understand the situation with ease.
E-cars are oversupplied and changing in all respects but in this frenzy of birth and death the future is being created with hybrid cars rapidly gaining market share. The sales of pure electric cars are likely to take off in the second half of the coming decade as certain technical and cost challenges are resolved. Toyota and Tesla have hugely benefitted from correct market positioning. Yet, Toyota is now betting strongly on fuel- cell hybrids, and Tesla on mainstream pure electric cars. A vicious shakeout of car and battery manufacturers has commenced with the winners expecting a handsome pay-off. IDTechEx finds that the global sales of hybrid and pure electric cars will triple to $178.9 billion in 2024 as they are transformed. For example, components are becoming integrated; the range extender, as an optional extra, breaks down the difference between pure electric and hybrid. Car manufacturers vertically integrate and collaborate, competing with their suppliers.
The electric vehicle business will approach a massive $500 billion in 2025 with the traction motors segment capturing over $25 billion. Traction motors propelling land, water and air vehicles along can consist of one inboard motor or - an increasing trend - more than one near the wheels, in the wheels, in the transmission or ganged to get extra power. Complex trends in this industry are explained with this updated report, and future winning suppliers are identified alongside market forecasts. The information is especially important as hybrid vehicles may have the electric motor near the conventional engine or its exhaust, and this may mean they need to tolerate temperatures never before encountered in pure electric vehicles. Motors for highly price-sensitive markets such as electric bikes, scooters, e-rickshaws and micro EVs avoid the price hikes of neodymium and other rare earths in the magnets.