According to the latest report by IMARC Group, titled "Ethanol Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global ethanol bus market is currently witnessing strong growth. An ethanol bus refers to a passenger bus that is fueled by ethanol. Also known as ethyl alcohol, ethanol is produced by the fermentation of crops containing starch and sugar grains, such as corn, sugarcane or sweet beets. Although it is usually blended with gasoline or other fuels to be used in vehicles, it can also be used on its own for powering automobiles. When compared to petrol or diesel, ethanol emits lesser amounts of soot and carbon monoxide. As a result, it is used to minimize the dependency on fossil fuels and improve the overall condition of the vehicle by improving the octane rating of the fuel.
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Global Ethanol Bus Market Trends:
The global market is primarily driven by the growing requirement for eco-friendly vehicles. Increasing awareness regarding the adverse effects of greenhouse gas (GHG) emissions and the rising pollution levels have impelled the masses to adopt energy-effective and green fuels, such as ethanol. Moreover, second-generation ethanol is widely gaining prominence across the globe, as its usage is associated with significantly reduced GHG emissions as compared to its first-generation counterpart. These biofuels are made from abundantly available cellulosic feedstock, including agricultural residues (cane trash, bagasse, cotton stalk, and rice and wheat straw) and lignocellulosic biomass that consume lesser fossil fuel energy in the production process. The market is further driven by the implementation of stringent emission standards by the governments of several countries for reducing air pollution levels and minimizing the adverse effects of global warming. Several countries, including India and Italy, have also launched ethanol-powered buses to provide a cost-effective and eco-friendly mode of transportation to the masses. Other factors, including several technological advancements in the ethanol manufacturing process and the emerging trend of waste-to-energy as an efficient power source, are further driving the market growth. On account of the aforementioned factors, the market is projected to grow at a CAGR of around 9% during 2020-2025.
- On the basis of the type, the market has been bifurcated into the first-generation and second-generation ethanol buses.
- Based on the application, the market has been divided into schools, municipal traffic and others.
- On the basis of the ethanol source, the market has been classified into corn, sugarcane, wheat and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Russia and others), Asia Pacific (China, Japan, India, South Korea and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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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