At a compound annual growth rate of 18%, the size of the worldwide Electric Bus market is projected to reach USD 3175 million in 2030.
The progress of the electric bus market is driving the increasing fuel prices and increased environmental anxieties. Geographically, Asia-Pacific is one of the leading the electric bus across the globe market with enlarged government initiatives in countries, like China, India, and Japan. The manufacturers of several countries are converging on developing public transport structure with low or no pollution to challenge the air pollutant emissions, mostly in the highest populated capitals and mega-cities. The developed countries are switching their existing natural gas and diesel based public transport to zero emission buses.
The electric bus is a moderately new innovation as compared to the electric bike and electric car but now each nation is talking about battery powered buses. According to market research, the electric bus has great prospective to reshape and change the entire transportation industry. Geographically, Asia-Pacific and China valued for the maximum number of shipments in electric bus market previous years. The China electric bus market is anticipated to grow expressively, into coming years, due to the growing urbanization and growth of several newly made innovative public transport systems in its developed cities.
As this market is in early stage, number of manufacturers are entering in the global electric bus market. Furthermore, the need for technological developments is also high which is inspiring electric bus manufacturers to emphasis on developments in partnership with technology-based industries.
The global electric bus market segmentation is based on type, application, and region. Based on type, this market is categorized into PHEV (Plug-in Hybrid Electric Vehicle), BEV (Battery Electric Vehicle), and HEV (Hybrid Electric Vehicle). China accounted for over 80% of global electric bus market share in past years. By application, this market is classified into shuttles, transit buses, school buses, and others. On the basis of region, this market is categorized into Europe, North America, Asia-Pacific, and others.
Electric Bus Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 3175 million|
|Growth Rate||CAGR of 18 % during 2022-2030|
|Segment Covered||By Propulsion Type, By Power Output, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||AB Volvo, Ankai Bus, BYD Company, Daimler AG, NFI Group Inc.|
The global electric bus market: Key Players
- BYD Company
- Higer Bus
- Yinlong Energy
- Zhongtong Bus Holding
Segmentation of global electric bus market:
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Transit Buses
- School Buses
- Series Parallel Hybrid
- Series Hybrid
- Parallel Hybrid
By Coach Length
- >18 Meter
- 14-16 Meter
- 12-13 Meter
- 10-11 Meter
- <9 Meter
By Charging Structure
- Roof Pantograph
- Ground Contact
- Plug Only
- Gantry Pantograph
- JBM Auto Limited
- Tata Motors Limited
- Mahindra Electric Mobility Limited
- Rest of Europe
- Asia-Pacific (ASAC)
- Rest of APAC
- North America
- Rest of World
The global electric bus market: Drivers
Reduction in the battery prices is one of the main driver in global electric bus market. Battery costs account for substantial share of total budget of electric bus manufacturing.
What to expect from the upcoming report on ‘Global Electric Bus Market’:
- Analysis of future prospects as well as global electric bus market trends over the forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing as well as developed economies and also various macro & microeconomic factors that affect the growth of the market.
- Supportive initiatives by government likely to influence the market dynamics.
- Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
- In-depth analysis of different market segmentations including end-user, application, manufacturing process and geographical regions.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market such as expansions, growth strategies, agreements, new product launches and acquisitions in the market
- Value Chain and Sales Channels Analysis