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Electric Mid- and Large (9-14m) Bus Market worth 171,000 units by 2030 – Exclusive Report by MarketsandMarkets™
Electric Mid- & Large Bus Market size is projected to grow from 66,593 units in 2023 and is expected to cross 171,000 units by 2030, at a CAGR of 14.4%, according to a new report by MarketsandMarkets. Growing urbanization, population density, and government policies will influence the electric mid- & large bus market growth in the coming years. Reasons such as government incentives, policies promoting zero-emission public transit, advances in battery technology, and reducing costs with improved range would enhance the growth of electric mid- & large buses. However, the industry would face challenges such as high costs for developing charging infrastructures. Unlike many developed countries, insufficient charging infrastructure is one of the major challenges in the growth of the electric mid- & large buses market in developing countries, including India, South Korea, and others.
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Browse in-depth TOC on “Electric Mid- and Large (9-14m) Bus Market“.
55 – Tables34 – Figures 121 – Pages
Electric Mid- and Large (9-14m) Bus Market Scope:
Report Coverage
Details
Market Size
171,000 units by 2030
Growth Rate
CAGR of 14.1%
Largest Market
Asia Pacific
Market Dynamics
Drivers, Restraints, Opportunities & Challenges
Forecast Period
2023-2030
Forecast Units
Volume (Units)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Propulsion (BEV, FCEV, HEV/PHEV), Configuration (Light & Heavy Duty), Application (City/Transit Bus, Coach, Midi & School Bus) and Region
Geographies Covered
Asia Pacific, Europe, and North America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Innovation in Payment Models
Key Market Drivers
Growing need for green mobility solutions
“The significance of electric mid- & large (9-14m) buses”
Electric mid- & large (9-14m) buses hold the largest share as most of the public transport fleets are incorporated with this category of bus length globally. This is mainly because this segment has a relatively larger seating capacity. These buses can generally travel up to 350 km on a single charge, which suits the intracity applications. The electric mid- & large (9-14m) buses are emerging as a crucial component of sustainable urban transportation. Their larger capacity caters to higher passenger volumes, enhancing public transportation efficiency and reducing traffic congestion. The optimal balance between battery size, chemistry, and passenger capacity in these buses effectively meets the demands of urban transportation while maintaining efficiency. These buses typically utilize advanced battery chemistries like NMC or LFP, balancing energy density and cycle life. This combination enables electric mid- & large (9-14m) buses to cater to a broader range of passenger needs, from intra-city routes to longer-distance intercity commutes, making them a popular choice for sustainable urban transportation solutions.
“Fuel-cell electric mid- & large (9-14m) buses – Promising Market”
Fuel cell electric mid- & large buses are gaining traction as an eco-friendly alternative in public transportation. These buses boast longer ranges than their battery-electric counterparts, contributing to their appeal for intercity routes. With growing competition, the focus on improving fuel efficiency, durability, and the overall performance of fuel cell stacks would be enhanced. They offer a 300-500 km range and have shorter refueling time than diesel or electric mid- & large buses. Recent launches from manufacturers like Toyota, Hyundai, and Ballard Power Systems showcase advancements in fuel cell technology. In April 2022, Hyundai Motor Company (South Korea) announced the launch of its latest fuel-cell electric mid- & large bus, the Elec City Fuel Cell. This bus is designed to travel a range of up to 550 kilometers on a single charge. It is also one of the longest-range fuel-cell electric buses currently available.
Similarly, in September 2022, NFI Group Inc. announced the launch of its next-generation hydrogen fuel-cell electric Xcelsior CHARGE FC heavy-duty transit bus with a driving range of over 370 miles. As technology continues to mature and hydrogen infrastructure expands, fuel-cell electric mid- & large buses are poised to play a significant role in the future of sustainable urban transportation. However, it will remain a niche bus category due to the defined nature of transit bus usage and will primarily focus on the coach market at a global level.
“North America to be the fastest growing market for electric mid- & large (9-14m) buses during the forecast period.”
The North American region is one of the world’s most well-established electric mid- & large bus industry. It is the 3rd largest electric mid- & large bus market, running behind Asia Pacific and Europe. This region is speculated to remain the fastest-developing market by 2030. North America has major electric mid- & large bus manufacturers with solid footholds in R&D innovations and technological advancements. With government support through incentives, tax benefits, supportive policies, the presence of individual investors, and a technological edge, electric mid- & large bus adoption will be spurred. On January 2023, FTA announced the availability of nearly USD 1.7 billion in Fiscal Year 2023 funding to support state and local efforts to buy or modernize buses, improve bus facilities, and support workforce development. The US is the largest market in the region, which is focused on NMC batteries as they allow a capacity of up to 818 kWh that is better suited to the transit operators’ requirements and the more extensive operational needs.
Further, city/transit and school buses will have a promising growth opportunity in several cities and states in the US, including California, New York, and others. More than 50% of the electric mid- & large bus in North America are City/Transit buses, followed by School buses. School buses contribute a significant portion of the US bus segment, and around 45% of electrification is expected in this segment by 2030. Many states in the US have announced their ambition to implement electric mobility in the transport sector. For instance, the US Environmental Protection Agency’s (EPA) Clean School Bus Rebate Program has awarded over USD 900 million for more than 2,400 electric school buses to 389 school districts. California leads in electric school bus adoption, with over 1,800 committed electric buses across the state, at least 35% of which are delivered or operating.
Further, Canada established the Zero-Emission Transit Fund, which provides up to 75% of eligible costs for purchasing electric buses and associated charging infrastructure to support the electrification of public transit systems. Quebec in Canada has implemented an Electric and Hybrid Transportation Policy, which has set the target of 100% electrification of public transit by 2030. Thus, electrifying the entire fleet of US school buses would reduce greenhouse gas emissions by approximately eight megatons per year and reduce emissions from all US buses by 35% annually. Many more such government schemes and supportive policies are likely to be announced, which will poise the economic growth of the electric mid- & large bus market in the North American region.
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Key Market Players:
The major players in Electric Mid- and Large (9-14m) Bus Companies include BYD (China), Yutong (China), CAF (Solaris) (Spain), VDL Groep (Netherlands), and AB Volvo (Sweden).
Recent Developments
In January 2022, the Valley Transportation Authority (VTA) in Santa Clara City, US, will install an innovative clean energy microgrid and EV fleet charging system with Proterra and Scale Microgrid Solutions. This project will showcase how clean energy paired with fleet-scale EV charging can enable the adoption of fully electric vehicle fleets. Expected to come online in late 2023, it will help VTA further reduce greenhouse gas emissions.
In January 2023, Daimler received an order to supply 45 buses to VLP Transport for intercity transport.
In September 2022, the Urbino 18 model is equipped with a modern hydrogen fuel cell, which aids long-distance commuting as it can cover 350 km in a single refill with a passenger capacity of 138 seats.
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The post Electric Mid- and Large (9-14m) Bus Market worth 171,000 units by 2030 – Exclusive Report by MarketsandMarkets™ appeared first on HIPTHER Alerts.
Scientists from MIT and the University of Basel in Switzerland have introduced a novel machine-learning framework that employs generative artificial intelligence (AI) models to automatically map out phase diagrams for novel physical systems. This groundbreaking approach addresses the challenge of quantifying phase changes in complex systems with limited data.
Phase transitions, such as the freezing of water, are commonplace, but detecting phase changes in novel materials or intricate physical systems presents unique challenges. Traditional manual techniques rely heavily on theoretical expertise and can be time-consuming. To overcome these limitations, the researchers turned to generative AI models to develop a more efficient and data-driven approach.
Their framework, detailed in a paper published in Physical Review Letters, leverages generative models to recognize phases and detect transitions in physical systems. Unlike conventional machine-learning techniques that require extensive labeled datasets, this approach utilizes physics-informed machine learning and does not depend on large training datasets.
The researchers demonstrated the effectiveness of their method in detecting phase transitions by identifying order parameters that signify changes in the system. By incorporating knowledge about the physical system directly into the machine-learning scheme, the framework outperforms traditional techniques and enhances computational efficiency.
Moreover, this approach opens up possibilities for various binary classification tasks in physical systems, such as detecting entanglement in quantum systems or selecting the most suitable theoretical model for a given problem. It could also contribute to improving large language models like ChatGPT by optimizing parameters for better performance.
Looking ahead, the researchers aim to explore theoretical guarantees regarding the number of measurements required to detect phase transitions effectively and estimate the computational resources needed for implementation.
Funding for this research was provided by the Swiss National Science Foundation, the MIT-Switzerland Lockheed Martin Seed Fund, and MIT International Science and Technology Initiatives.
Source: news.mit.edu
The post Scientists use generative AI to answer complex questions in physics appeared first on HIPTHER Alerts.
The Advanced Research Projects Agency – Infrastructure (ARPA-I) of the United States Department of Transportation (USDOT) is inviting input from interested parties regarding the potential utilization of artificial intelligence (AI) within transportation. They are also seeking insights into the emerging challenges and opportunities associated with the development and implementation of AI technologies across all modes of transportation.
The objective of this Request for Information (RFI) is to gather feedback from a diverse range of stakeholders regarding AI opportunities, challenges, and associated matters in transportation, in accordance with Executive Order (EO) 14110 of October 30, 2023, titled “Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence.”
Interested parties are encouraged to submit written comments electronically to Docket Number DOT–OST–2024–0049 via the Federal eRulemaking Portal. Comments must be received by July 2, 2024. Submissions, excluding personal information, will be made available to the public on regulations.gov, as per DOT’s Privacy Act Statement.
For inquiries regarding this RFI, individuals may contact [email protected]. Additionally, Mr. Timothy A. Klein, Director of Technology Policy and Outreach at the Office of the Assistant Secretary for Research and Technology, can be reached at 202-366-0075 or via email at [email protected].
Source: traffictechnologytoday.com
The post USDOT seeks input on effective and safe AI use in transportation appeared first on HIPTHER Alerts.
In 2016, James Vlahos faced heartbreaking news – his father received a terminal cancer diagnosis.
“I loved my dad, I was losing my dad,” recalls James, based in Oakland, California.
Determined to cherish the time he had left with his father, James embarked on an oral history project, spending countless hours audio recording his father’s life story. This endeavor coincided with James’ burgeoning interest in AI, prompting him to ponder the possibility of creating something interactive from the recordings.
“I thought, gosh, what if I could make something interactive out of this?” he muses. “For a way to more richly keep his memories, and some sense of his personality, which was so wonderful, to keep that around.”
Although James’ father, John, passed away in 2017, James had transformed the recorded memories into an AI-powered chatbot capable of answering questions about his dad’s life – in his father’s voice.
While the concept of using AI to emulate deceased loved ones has long been explored in science fiction, advancements in AI technology have brought it into reality. In 2019, James launched HereafterAI, allowing users to create similar chatbots for their own departed loved ones.
James acknowledges that while the chatbot doesn’t erase the pain of his father’s death, it provides him with solace and an interactive repository of memories to cherish.
Meanwhile, South Korea’s DeepBrain AI takes this concept further by creating video-based avatars of deceased individuals, capturing their likeness, voice, and mannerisms with striking accuracy.
“We are cloning the person’s likeness to 96.5% of the similarity of the original person,” explains Michael Jung, DeepBrain’s chief financial officer. “So mostly the family don’t feel uncomfortable talking with the deceased family member, even though it is an AI avatar.”
DeepBrain envisions its technology as part of a “well dying” culture, where individuals prepare for death in advance, leaving behind a living legacy of family histories and memories.
However, this technology comes at a significant cost, with users paying up to $50,000 (£39,000) for the filming process and avatar creation. Despite the steep price tag, investors remain bullish on its potential, evident in DeepBrain’s substantial fundraising success, having raised $44m in its last funding round.
Source: bbc.com
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