Global Hybrid and Electric Transit Bus Market

Strategic Analysis of Global Hybrid and Electric Heavy-Duty

Transit Bus Market China to Account for Nearly Half the Global H&E Bus Sales by 2020

NC7C-18

October 2013

BRIEF SUMMARY

2 NC7C-18

Contents

Section Slide Numbers

Executive Summary 5

Research Objective, Methodology, Background, and Scope 23

Definitions and Segmentation 29

Transit Bus System in Passenger Mobility 34

Mega Trends and Industry Convergence Implications 46

Drivers and Restraints—Total Market 52

Market Forecast—Total Market 60

• Global HD Transit Bus Market—Unit Shipment Forecast 64

• Top Hybrid and Electric Transit Bus OEMs—Key OEM Forecasts 66

• Snapshot of Global HD Transit Bus Market in 2020—H&E 69

• H&E Transit Bus Market—Market Share Analysis 70

Profiles of Key Market Participants 71

Top Hybrid and Electric Transit Bus OEM Profiles 79

Global Hybrid Module Supplier Product Mapping 88

3 NC7C-18

Contents (continued)

Section Slide Numbers

Chinese Hybrid and Electric HD Transit Bus Market 95

European Hybrid and Electric HD Transit Bus Market 105

North American Hybrid and Electric HD Transit Bus Market 113

Indian Hybrid and Electric HD Transit Bus Market 120

Latin American Hybrid and Electric HD Transit Bus Market 126

Russian Hybrid and Electric HD Transit Bus Market 132

Rest of World Hybrid and Electric HD Transit Bus Market 138

Technology Trends and Analysis 147

Li-ion Battery 155

Li-ion Battery Cost Breakdown 158

UCs in Buses 162

Transit Buses—Cost Comparison Between the UC eBus vs Diesel Bus 167

Fuel Cell Range Extenders 171

Fuel Cell System—Cost Split Analysis 174

Conclusions and Future Outlook 175

Appendix 181

4 NC7C-18

Executive Summary

5 NC7C-18

0 10 20 30 40 50 60

Russia

LatinAmerica

NorthAmerica

India

Europe

China

Units (000s)

2012 2011

6.7%

(8.8%)

3.5%

2.7%

(9.7%)

5.8%

• Robust demand from Tier II cities and new

BRT (Bus Rapid Transit) services have helped

sustain market growth in China.

• Sovereign debt crisis and austerity measures

across Europe weakened transit bus demand.

However, subsidies were extended to green

energy buses.

• Despite slowdown in second half of the year,

the Indian transit bus market experienced a

marginal yoy growth. The slowdown is

expected to continue through 2013.

• North American bus industry showed recovery

on the backing of replacement orders and

federal push for green mobility.

• Slowing Brazilian economy, coupled with Euro

V introduction impacted transit bus sales.

However, there was a recovery in the last

quarter.

• Russia’s urban passenger mobility space saw

major push in wake of rising congestion and

the modernization drive by fleets.

Executive Summary—Top HD Transit Bus Market Performance The global market softened across the board in 2012, and North America and India showed moderate growth

in transit bus sales while China and Russia experienced decent growth.

H&E HD Transit Bus Market: Top Regions Unit

Shipment, Global, 2011 and 2012

Note: Heavy Duty (HD) Transit Bus: 8T and above or 10m and above.

Note: All figures are rounded. The base year is 2012. Source: Frost & Sullivan

6 NC7C-18

• Door-to-door integrated, multimobility a reality in future

• Vehicle manufacturers to offer smart mobility solutions ensuring first- and last-mile connectivity

• Government to combine public transport with bike/two-wheeler/car-rental schemes

• Market will see new participants in market termed as Mobility Integrators Source: Frost & Sullivan

Executive Summary—Integrated Mobility The future of urban transportation is multimodal commuting, combining door-to-door solutions using dedicated

mobility platforms.

H&E HD Transit Bus Market: Transit Solutions Comparative Analysis, Global, 2020

City

Suburbs

Intercity T

rave

l D

ista

nce

Travel Distance Destination

Private Cars

Shared Mobility

Micro-mobility

Intercity Bus

Intercity

Train

Shared Mobility

Transit Bus Cycle

Urban Railway

7 NC7C-18

Urban

Rail

Car Sharing

Bike Sharing

Bicycle

Walking

Executive Summary—Integrated Mobility (continued) The HD transit buses and BRT provide a 10,000 to 15,000 pphpd capacity that can bridge the gap between

high-capacity upstream urban rail systems and low-capacity downstream transportation options.

• Subways and heavy urban rail systems are

available in city centres in urban areas.

• The operating capacities are 70,000 to

120,000 passenger per hour per direction

(pphpd).

• Car sharing, bike sharing and other non-

motorized transportation options emerge

critical in delivering the last-mile

connectivity.

• Conventional buses can handle

capacities in the range of 3,000 to 5,000

pphpd.

• BRT has an ideal capacity of 10,000 to

15,000 pphpd to bridge the gap.

Urban

Transportation

Puzzle

Transit Bus

Source: Frost & Sullivan

8 NC7C-18

0

1

2

3

4

5

Passenger Information System

[5], [4.5]

Environmental Footprint

[5], [4]

Route Flexibility

[1], [4.5]

Efficiency [5], [4]

Capital Expenditure

[1], [4.5]

Network (Distance)

[2], [4]

Flexible Frequency

[4], [3]

Journey experience

[4.5], [4] Off Vehicle Fare Collection

[4.5], [3.5]

Urban Rail Transit Bus

Ratings: [Urban Rail], [Transit Bus]

Total Ratings:

Urban Rail–32

Transit Bus–36

Executive Summary—Comparison of Transit Bus and Urban Railway Transit bus systems emerge as a sustainable solution for both developed and developing economies, with

relatively lower capital expenditure and high route flexibility compared to railway system.

H&E HD Transit Bus Market: Transit Solutions Comparative Analysis, Global, 2012

0-Min

5-Max


9 NC7C-18

Executive Summary—Transit Bus Market Key Influencing Trends The lowest pressure on existing energy infrastructure and lower emissions relative to CNG/LNG* buses will catalyze the relevance and prevalence of hybrid buses for urban mobility through the forecast period and after.

H&E HD Transit Bus Market: Key Influencing Trends, Global, 2012–2020

Source: ECLAC; Frost & Sullivan

Regulatory Environment

• Legislations mandating greener transport solutions

• Subsidies for electric/hybrid/ alternate fuel vehicles

• Strict fuel efficiency targets

Energy Storage modules

• Rapid technological

advancements

• Falling module prices

• Increased production capacity

Infrastructure development

• Investment in charging

infrastructure

• Preference for BRT system

• Off-board ticketing system

Global Competition

• Expansion into global markets to

increase revenue

• Develop innovative transit solutions to

stay ahead of competition

Energy Security

• Reducing dependency on energy

import

• Adoption of renewable and

alternate energy

• Drive towards fuel efficient

vehicles

Urbanization and Congestion

• Low emission zones

• Low cost and quick mass transport

• Connectivity between multiple points

in city and suburbs

*Compressed natural gas/liquid natural gas (CNG/LNG).

10 NC7C-18

Executive Summary—2020 Snapshot of Global HD Transit Bus Market BRIC nations will lead growth, however, the ROW markets such as Africa and ASEAN are expected to gain

significance as they migrate towards economical and flexible urban transportation solutions.

China

~73,200

CAGR: 5.4%

Global Share: 26.3% India

CAGR: 6.5%

Global Share: 14.6%

~40,700

South America

CAGR: 6.3%

Global Share: 20.9%

~58,100

Russia

CAGR: 7.7%

Global Share: 8.8%

~24,500

Europe

CAGR: 3.9%

Global Share: 5.3%

~14,800

North America

CAGR: 4.2%

Global Share: 2.4%

~6,400

ROW

CAGR: 8.4%

Global Share: 21.6%

~60,000

1

2 3

4

5 6

7

Note: Size of ball denotes the ‘HD Transit Bus’ market size by unit volume in respective regions.

‘x’ Ranking of region as per market size ‘H&E Transit Bus’

H&E HD Transit Bus Market: Top Regions Unit Shipment Forecast, Global, 2012–2020


11 NC7C-18

0

20,000

40,000

60,000

80,000

North America SouthAmerica

China India Russia Europe ROW

Diesel and Others CNG/LNG H&E

2012

2020 Regional Shares

2020

~168,000

~278,000

37%

9%

28%

5%

6%

30%

8%

15%

6%

89%

33%

84%

58% 84%

85%

52%

76%

72%

Un

its

Note: Others include Bio-fuel, gasoline, ethanol, LPG.

HD - 8T and above (or) 10m and above.

H&E HD Transit Bus Market: Unit Shipment Forecast, Global, 2012–2020

5%

13%

30%

7% 14%

11%

9%

16%

CAGR = 6.4%


18%

Executive Summary—Unit Shipment Forecast HD Transit Bus Market Global transit bus sales are forecasted to grow at a CAGR of 6.4% on account of demand for green buses

rising from government mandates and commitments; share of diesel powertrain to reduce to 74%.

12 NC7C-18

H&E HD Transit Bus Market: Market Share by Hybrid Architecture, Global, 2012–2020

20202012

96 %

95 % 84 % 83 %

~26,900

~7,700

2012

Un

its

2020

Hybrid Architecture

Penetration

CAGR = 16.9%

Series 11.6%

Parallel 67.2%

Series-Parallel 21.2%

Series 17.9%

Parallel 56.4%

Series-Parallel 25.7%


Executive Summary—Hybrid Transit Bus Penetration by Architecture Parallels will dominate the global hybrid powertrain market as tough economic situations will influence buying

decisions towards low-cost solutions. Top hybrid module suppliers are expected to launch parallel systems.

13 NC7C-18

Region Conventional (Diesel) Hybrid Electric

Latin America $200,000–$225,000 $280,000–$340,000 $410,000–$500,000

China $60,000–$90,000 $125,000–$200,000 $280,000–$350,000

India $75,000–$110,000 $175,000–$255,000 $325,000–$410,000

North America $350,000–$450,000 $500,000–$595,000 $625,000–$710,000

Europe $300,000–$410,000 $450,000–$540,000 $595,000–$680,000

Russia $130,000–$180,000 $245,000–$325,000 $400,000–$500,000

ROW $100,000–$350,000 $195,000–$500,000 $300,000–$700,000

Executive Summary—Region Wise Price Comparison for Transit Buses China will feature the most competitively priced hybrid/electric transit buses, and prices for both conventional

and alternative powertrain-propelled transit buses were found highest in TRIAD (NA, Europe, Japan) markets.

H&E HD Transit Bus Market: Regional Market Price Scenario, Global, 2012

Major low-cost markets Major high-cost markets Source: Frost & Sullivan

14 NC7C-18

Executive Summary—Global Hybrid Module Supplier Product Mapping Participants to increasingly focus on parallel module with 3 major suppliers likely to introduce it by 2014.

Chinese module integrators are poised to capture significant market volume, however restricted to China.

Series

Parallel

Series-

Parallel

(Dual)

Allison

H&E HD Transit Bus Market: Hybrid Module Product Mapping, Global, 2012

BAE Eaton Siemens Vossloh Voith

H40EP / H50EP

HybriDrive

DIWA Eaton Hybrid

ELFA Vossloh Hybrid

ZF

EcoLife

Parallel system

is expected to

hit the market

by 2014.

Siemens’ will look to establish its brand as

complete hybrid system solution provider in

addition to being major sub-system supplier.

Partnerships with top Chinese bus

OEMs have propelled Eaton to global

leadership.

Allison is expected to look at vertical

integration of hybrid components to

expand its presence and increase

revenue.

In addition to new bus

systems, ZF offers option

of retrofit in existing transit

buses.

Hyb

rid

Arc

hit

ec

ture

Module Suppliers Source: Frost & Sullivan

15 NC7C-18

Module

Supplier

Bus OEMs—North America Bus OEMs—Europe

Nova

Bus NABI

New-

Flyer Gillig MAN Daimler

Van

Hool Solaris ADL Optare

Wright

Bus IVECO VDL

Allison

BAE

Eaton

Siemens

Voith

Vossloh

ZF

Executive Summary—Matrix of Hybrid Module Suppliers and OEMs Volvo is the only major participant to have hybrid system developed in-house. Allison leads North American

hybrid transit bus market as supplier shipping most hybrid powertrain systems.

H&E HD Transit Bus Market: Green Powertrain and Energy Storage Standard Overview,

North America and Europe, 2012


16 NC7C-18

Module

Supplier

Top Bus OEMs – China – India

Yutong Wuzhoulong Foton

Golden

Dragon Kinglong Zhongtong TATA

Allison

BAE

Eaton

Fugong

ZF

Executive Summary—Matrix of Hybrid Module Suppliers and OEMs (continued) A lack of local hybrid expertise Has benefitted global suppliers. In the future, as global suppliers start local

bases, China and India can become export hubs due to low raw material and manufacturing cost.

H&E HD Transit Bus Market: Green Powertrain and Energy Storage Standard Overview, Global, 2012

• In China, Siemens is represented as a sub-system supplier to many of the above module integrators.

• India is a sizable market opportunity and is expected to be predominantly a parallel hybrid market.

• Since the Indian hybrid bus market is expected to reach a considerable volume only after 2016, Eaton may miss the

advantage as other module suppliers are expected to launch parallel systems by then.

• In addition, Volvo with its captive hybrid module and first mover advantage as a leader in high end transit bus market is likely

to dominate the Indian hybrid bus market. Source: Frost & Sullivan

17 NC7C-18

Region

New Energy Powertrains Energy Storage Technologies

Parallel

Hybrid

Series

Hybrid

Series-Parallel

Hybrid Pure Electric

Ni-Mh

Batteries

Li-ion

Batteries

Ultracapacitors

(UCs) UC Hybrid

Latin

America

Europe

North

America

China

India

Russia

ROW

H&E HD Transit Bus Market: Green Powertrain and Energy Storage Standard Overview,

Global, 2012–2020

Strong Trend Towards 2020 Moderate Trend Towards 2020 Market in 2012

Executive Summary—Transit Bus Powertrain and ESS Standard Parallel hybrids are expected to strengthen its market position due to the cost advantage over other systems.

UCs and UC hybrids will gain prominence as a primary energy storage system, especially in hybrid buses.


18 NC7C-18

Geographical Presence (Production and Integration)

Battery

Chemistry

North

America EU China Japan South Korea India Cathode

AESC Manganese

Spinel

LG Chem Manganese

GS Yuasa Cobalt +

Manganese

Panasonic Phosphate

Toshiba Phosphate

Li-Tec Manganese

BYD Phosphate

JCI Phosphate

Exide Polymer

SK Energy Polymer +

Manganese

Hitachi NA

Miljø Innovasjon AS Polymer

Dow Kokam Manganese

Executive Summary—Battery Manufacturer Geographical Map The limited geographic presence of Tier I battery suppliers (from an integration point of view) is opening

opportunities for material suppliers within the electric vehicles (EV) battery space.

- Not considering - Present (Integration Capability) Considering Options N/A - Not Available

Battery

Manufacturers

H&E HD Transit Bus Market: Battery Manufacturer Geographical Presence, Global, 2012

The bankruptcy of major American battery manufacturers, such as A123 and Enerdal, will impact

ongoing research and subsequently delay the improvements in Li-ion battery technologies.


19 NC7C-18

Market

Ride

Cost/trip

Operational

Subsidy

Vehicle Price

(12 m) Customer Types Key OEM Focal Points

Latin

America $0.75–$1 No subsidy $200,000–$225,000 Private operators

• Financing and leasing

• Localized assembly

China $0.25–$0.30 Subsidized $60,000–$90,000

Public (state purchase and

leased to private

operators)

• Product quality (life cycle

enhancement)

• Localized assembly

• Advanced powertrain

technologies

India $0.2/stage Subsidized $75,000–$110,000 Public (state operator) • Product quality

• STU collaboration

North

America $1–$5 Subsidized $350,000–$450,000 Public (local transit agency)

• Advanced powertrain

development

• Reduced product delivery time

Europe $1.5–$4.0 Subsidized $300,000–$410,000 Public (local transit agency) • Advanced powertrain

development

Russia $0.75–$0.83 Subsidized $130,000–$180,000 Public (local transit agency) • Localized assembly

• Collaboration with local OEMs

ROW $0.5–$10 Subsidized/

no subsidy $100,000–$350,000 Public/private

• Distribution and after-sales

network

Executive Summary—Key Regional Focal Points for OEMs Original equipment manufacturers (OEMs) should look at developing independent market entry strategies for

different regions.

H&E HD Transit Bus Market: Regional Market Scenario, Global, 2012


20 NC7C-18

0 200 400 600 800 1,000 1,200 1,400 1,600

Yutong

Volvo

Wuzhoulong

Foton

FAW

Kinglong

CSR Times

Ankai

Sunwin

New Flyer

Golden Dragon

Higer

Gillig

Daimler

BYD

ADL

Optare

Europe North America China Latin America ROW

Executive Summary—Unit Shipment H&E Transit Bus OEMs Yutong led the global H&E bus market, and Volvo’s global footprint enabled it to sell nearly 1,000 units.

H&E HD Transit Bus Market: Unit Shipment by OEMs, Global, 2012

Units

Volvo is currently the

only OEM to have

representation in all key

global markets for H&E

buses.

High growth in H&E bus sales has

provided the Chinese OEMs the

confidence to aggressively invest in

the technology and to rapidly foray

into capacity building.

BYD will establish overseas plants

starting with one in California in 2013.

Uruguay has placed the largest eBus

order and it is expected to be fulfilled

though 2015.

Note: Heavy Duty (HD) Transit Bus: 8T and above or 10m and above. Note: All figures are rounded. The base year is 2012. Source: Frost & Sullivan

21 NC7C-18

The global HD transit bus market is set to reach ~278,000 units by 2020 with a CAGR of 6.4%

over the 2012 to 2020 forecast period. China and Latin America will contribute 47.2% of global

volumes.

1

2

By 2020, market penetration of hybrid transit buses is expected to reach 9.7%, while that of

electric buses is expected to be 5.4%. The combined market size is forecasted to be ~41,800

units growing at a CAGR of 20.7%.

3

Chinese manufacturers such as Yutong, Wuzhoulong, Foton, and Kinglong are expected to top

the global hybrid and electric transit bus market. Volvo, MAN, and Daimler will feature as non-

Chinese members of the top 10 hybrid and electric (H&E) transit bus OEMs by unit volumes.

Vertical integration efforts to be increasingly pursued by Western OEMs while Eastern OEMs will

develop synergistic relationships with Tier 1 suppliers of powertrain systems.

4

By 2020, parallel hybrid systems will strengthen its market share from 56% in 2012 to about 67%,

and remain the most prevalent hybrid powertrain architecture. Market dominance by Eaton,

Allison, and BAE is expected to be challenged by as ZF, Siemens, and new Chinese hybrid

integrators such as Fugong and Santroll.

5 Globally, more than 250 BRT lines are operational or under various stages of implementation. This

translates into enormous market potential for new vehicle purchase and replacement demand,

especially for H&E buses.

Key Findings

H&E HD Transit Bus Market: Key Research Findings, Global, 2012–2020


22 NC7C-18

Research Objective, Methodology, Background, and Scope

23 NC7C-18

Geographic Definitions and Research Scope

Hybrid and Electric (H&E) buses, H&E Transit buses and BRT buses (above 10 meters in length)

Vehicle Type

2013 to 2020 Forecast Period

2012 to 2020 Study Period

2012 Base Year

The regional markets covered in this research service are:

• North America consists of United States and Canada

• Europe consists of Western Europe, Central Europe, and Eastern Europe (excluding Russia and Turkey)

• China

• India

• Russia

• Latin America consists of Central America and South America

• Rest of World consists of Africa, Middle East (including Turkey), Rest of Asia (excluding China and

India), and Oceania (Australia and New Zealand)

Geographic Scope


24 NC7C-18

Research Aims and Objective

Aim

The aim of this research study is to provide executive analysis of growth opportunities in the Global H&E

HD transit bus market.

Objectives

• Provide strategic overview of key megatrends and market engineering metrics

• Provide market drivers, restraints, and opportunities

• Provide forecasts for the total transit bus market in key global markets

• Provide forecasts of the H&E HD transit bus market

• Provide insight on future technologies determining the growth of the market

• Provide market share analysis for overall and constituent markets

• Develop an actionable set of recommendations for market entry and growth


25 NC7C-18

Key Questions this Study Will Answer

What is the HD total transit bus market in key market regions and the penetration of H&E technology

in the total HD transit bus market?

What is the competitive landscape and dynamics influencing growth and development of this market?

What is the split between different technologies used in H&E modules in key market regions?

What are the key market and technology trends influencing the H&E HD transit bus market?

H&E HD Transit Bus Market: Key Questions This Study Will Answer, Global, 2012


26 NC7C-18

Research Background

This research study is a short summary capturing content from various recently published and on-going research in the areas of global commercial vehicle powertrain, chassis, safety, telematics, and regulation compliance technologies and markets, such as the following:

• NA5E-18 Strategic Analysis of the Global Bus Rapid Systems Market—Completed

• N9FF-18 Strategic Analysis of Medium-Heavy Duty Hybrid/Electric Truck and Bus Market in North America and South America—Completed

• M783-18 Strategic Analysis of Medium-Heavy Hybrid/Electric Truck and Bus Markets in EMEA Region—Completed

• M8D2-18 Strategic Analysis of MD-HD CNG/LNG Truck and Bus Market in Western Europe—Completed

• N8CF-18 Strategic Analysis of Class 6-8 Natural Gas Truck Market in North America—Completed

• N998-18 Strategic Analysis of Brazilian Commercial Truck Market—Completed

• N8E4-18 Strategic Analysis of Class 4-8 Truck Safety Technologies Market in North America—Completed

• NA53-18 Strategic Analysis of Global Platforms of Major Heavy-duty Truck Manufacturers—Completed

• P4F1-18 Strategic Analysis of Indian Commercial Vehicle Market—Completed

• Strategic Analysis of Medium-Heavy Hybrid/Electric Truck and Bus Markets in China and India—Completed

• NAAF-18 Strategic Analysis of Powertrain Downsizing Strategies of Major Heavy Duty Truck Manufacturers in North America—Completed

This study is also supplemented by our on-going continuous interactions with vehicle manufacturers and suppliers, for alternative powertrain technologies, among other truck technologies.


27 NC7C-18

Research Methodology

Research Methodology: Frost & Sullivan’s research study is based on secondary and primary research

data.

Secondary Research: Extraction of information from existing studies and project material within the F&S

database, to include data and information gathered form technical papers, specialized magazines, seminars

and internet research.

Primary Research: Over 35 interviews have been conducted over phone by senior consultants/industry

analysts with original equipment suppliers, regulation authorities and distributors. Primary research has

accounted for 80% of the total research.

H&E HD Transit Bus Market: Partial List of Industry Participants, Global, 2012

North America Europe Asia

New Flyer of America (New Flyer) Volvo Bus Corporation (Volvo) Zhengzhou Yutong Group Co., Ltd. (Yutong)

North American Bus Industries (NABI) Daimler Buses (Daimler) Shenzhen Wuzhoulong Motors Co., Ltd. (Wuzhoulong)

Gillig Corporation (Gillig) Iris Bus (IVECO) Anhui Ankai Automobile Co., Ltd (Ankai)

Nova Bus (Nova) MAN Trucks and Bus (MAN) Shanghai Sunwin Bus Corporation (Sunwin)

Sinautec Automobile Technologies Solaris Bus (Solaris) Foton AUV (Foton)

BAE Systems Alexander Dennis Ltd., (ADL) Build Your Dreams (BYD)

Allison Transmission ZF Tata Motors (TM)

Eaton Siemens Ashok Leyland Ltd., (AL)


28 NC7C-18

OEM Product Portfolio Hybrid Module Key Information Key Markets

Volvo • Hybrid – 3 models

• Electric – Nil

• Parallel

(In House)

• Volvo became the first OEM to deliver a

big order (30 units) of hybrid bus in

Brazil.

• Order from BRT corridors (such as an

order of 60 hybrid bus for Curitiba) will

trigger the demand for H&E buses.

• Brazil, Chile,

Argentina,

Peru,

Columbia

Daimler • Hybrid – 1 model

• Electric – Nil • Series (ZF)

• Fortaleza, Sau Paulo are expected to be

the first cities to see Daimler’s Hybrid

Buses purchases.

• Leadership in Mexican market will propel

Daimler’s growth in Latin America.

• Brazil,

Mexico, Chile,

Argentina,

Peru,

Columbia

BYD • Hybrid – Nil

• Electric – 1 model NA

• BYD is expected to start delivery of

Uruguay’s CTS and Buquebus order for

500 eBuses from 2013 through 2014.

• Uruguay

• Brazil

H&E HD Transit Bus Market: Competitive Benchmarking, Latin America, 2012–2014

Latin America—Top H&E HD Transit Bus OEMs With major European OEMs with in-house hybrid systems dominating the brazilian market, hybrid module

suppliers will have to look at Cuba, Peru, Argentina, and Uruguay for market growth.

• IVECO, MAN and Scania are other major global bus OEMs expected to start introducing H&E buses in

Latin American nations such as Brazil, Argentina and Mexico.

• Countries such as Venezuela, Comlumbia, Uruguay, Peru and Chile are likely to be explored by

Chinese OEMs as low cost buses will be highly sought after in these regions. Source: Frost & Sullivan

29 NC7C-18

Market Engineering Methodology

One of Frost & Sullivan’s core deliverables

is its Market Engineering studies. They

are based on our proprietary Market

Engineering Methodology. This approach,

developed across 50 years of experience

assessing global markets, applies

engineering rigor to the often nebulous art

of market forecasting and interpretation.

A detailed description of the methodology

can be found here.


http://www.frost.com/prod/servlet/me-research.pag

Global Hybrid and Electric Transit Bus Market

Automotive

Transcript of Global Hybrid and Electric Transit Bus Market