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Top 10 Companies Dominating the United States Electric Bus Market

United States Electric Bus Market

 

BYD Motors Inc., Volvo AB, Daimler Truck Holding AG, Hyundai Motor Company, Proterra Inc., Gillig LLC, Blue Bird Corporation, Lion Electric Company, NFI Group Inc., Motiv Power Systems Inc., and GreenPower Motor Company Inc., among others, are the major players in the United States electric bus market.

 

The United States electric bus market reached a value of about USD 889.42 million in 2023. The market is projected to grow at a CAGR of 19.2% in the forecast period of 2024-2032 to reach around USD 4,513.59 million by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the lowering costs of lithium-ion (Li-ion) batteries.

 

Electric buses, also known as e-buses, utilise electric motors instead of conventional internal combustion engines (ICE). These vehicles are powered by onboard electric motors, drawing energy from batteries or external sources like the power grid. Widely adopted across the United States, e-buses offer eco-friendly transportation with minimal emissions, quiet operation, and reduced maintenance costs. Hybrid buses, which combine electric and combustion engine power, are another option. Beyond environmental benefits, electric buses also yield financial advantages through lower operational expenses.

 

EV charging points eV USA 2010-2022

 

The United States electric bus market growth is majorly fuelled by the declining costs of lithium-ion (Li-ion) batteries, a critical component in these vehicles.

 

Increasing apprehensions among environmental agencies and local governments regarding worsening environmental conditions are playing a significant role in driving the adoption of electric buses in the country. This trend is spurred by emissions from urban vehicles and a heightened emphasis on sustainable development. Furthermore, the enforcement of stringent emission control regulations across the US, which promotes zero-emission vehicles, is further propelling United States electric bus market expansion.

 

In December 2023, GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower") concluded production of its inaugural fleet of all-electric school buses at its West Virginia manufacturing plant. The company's Type A Nano BEAST school buses, designed for zero-emission transportation, were completed and delivered to Cabell County, Clay County, Kanawha County, and Monongalia County school districts in West Virginia. This milestone underscores GreenPower's commitment to sustainable mobility solutions in the school bus sector.

 

Top 10 Electric Bus Companies in the United States:

BYD Motors Inc.

Headquarters: Guangdong, China
Establishment: 1995
Website: www.byd.com

 

Founded in 1995, BYD is a leading Chinese high-tech enterprise pioneering advancements in IT, automotive, and renewable energy sectors. Renowned as the world's largest supplier of rechargeable batteries, BYD boasts significant market shares across various battery categories globally. Particularly prominent in electric vehicles, BYD Auto has emerged as a frontrunner in innovation. With a strong focus on green technology, BYD continues to revolutionise the new energy landscape, offering solutions ranging from solar farms to electric vehicles. With a presence spanning over 400 cities across 70 countries on 6 continents, BYD remains a global leader in sustainable technology.

 

Volvo AB

Headquarters: Gothenburg, Sweden
Establishment: 1927
Website: www.volvogroup.com

 

Established in 1927, the Volvo Group pioneers sustainable transport and infrastructure solutions worldwide. Through its diverse range of trucks, buses, construction equipment, and power solutions, the Group facilitates essential tasks like transportation, construction, and marine applications. Headquartered in Gothenburg, Sweden, with approximately 104,000 employees, the Volvo Group operates in nearly 190 markets, boasting net sales of SEK 473 billion (EUR 44.5 billion) in 2022. Listed on Nasdaq Stockholm, it remains a global leader in manufacturing and providing comprehensive financing and service solutions.

 

Daimler Truck Holding AG

Headquarters: Leinfelden-Echterdingen, Germany
Establishment: 1895
Website: www.daimlertruck.com

 

Daimler Truck, a pioneer in commercial vehicles for over a century, remains a global leader in the industry. With a workforce exceeding 100,000 across 40+ locations worldwide, the company continues to innovate to serve those who keep the world moving. Its portfolio spans renowned brands like Freightliner, Mercedes-Benz, and Western Star, offering solutions for sustainable, CO2-neutral driving. Through Daimler Truck Financial Services, they provide tailored vehicle and financial packages, ensuring reliability and efficiency for customers globally. At Daimler Truck, the collective drive is to empower mobility and deliver goods safely and efficiently.

 

Hyundai Motor Company

Headquarters: Seoul, South Korea
Establishment: 1967
Website: www.hyundai.com

 

Hyundai Motor Company is expanding its horizons beyond automotive transportation to offer mobility services, aiming to grant freedom of movement to all. With a focus on clean energy, the company is championing hydrogen as a viable energy source, facilitating the global transition to sustainability. As part of the Hyundai Motor Group, which includes Hyundai, Kia, GENESIS, and various affiliates in industries like construction and finance, the corporation boasts a diverse value chain spanning automobiles, steel, and construction, supported by logistics, finance, IT, and services. With a workforce of approximately 250,000, Hyundai Motor Group is committed to fostering innovation and addressing challenges to shape a brighter future.

 

Proterra Inc.

Headquarters: California, United States
Establishment: 2004
Website: www.proterra.com

 

Proterra, a leader in electrification solutions, partners with manufacturers to electrify medium- and heavy-duty vehicles. Its advanced battery technology, designed in Silicon Valley and made in South Carolina, now operates as part of the Volvo Group, maintaining a commitment to sustainability. Proterra offers comprehensive fleet solutions, including charging infrastructure and energy optimisation. With over 40 million service miles and 1300+ battery systems deployed, Proterra is the trusted choice for reducing emissions and operating costs in commercial transportation.

 

Gillig LLC

Headquarters: California, United States
Establishment: 1890
Website: www.gillig.com

 

GILLIG, America's top heavy-duty transit bus manufacturer since 1890, offers a range of clean energy propulsion options on its renowned Low Floor platform. Each bus, crafted by dedicated American workers in Livermore, California, is known for its quality and cost-effectiveness. GILLIG's commitment to reducing congestion and promoting environmental sustainability is evident in its products, which also support job creation and community investment. With a focus on quality and customer satisfaction, GILLIG stands out for its reliable and environmentally friendly mass transit solutions.

 

Blue Bird Corporation

Headquarters: Georgia, United States
Establishment: 1927
Website: www.blue-bird.com

 

Since 1927, Blue Bird has been a leader in school bus manufacturing, offering a wide range of options and configurations. With over 1,600 employees and Georgia-based facilities, Blue Bird serves North America and over 60 countries worldwide. Committed to safety and customer satisfaction, they prioritise building reliable buses while providing comprehensive financial solutions through Blue Bird Capital Services. Blue Bird's dedication to quality, durability, and serviceability ensures the safety of schoolchildren remains central to their mission, supported by a responsive distribution network for parts and service.

 

Lion Electric Company

Headquarters: Quebec, Canada
Establishment: 2008
Website: thelionelectric.com

 

The Lion Electric Co. is a pioneering manufacturer of zero-emission vehicles, specialising in all-electric school buses and urban trucks. As a leading OEM in North America's transportation electrification, Lion designs and manufactures various vehicle components, prioritising innovation to meet user needs. Founded in 2008 with a focus on revolutionising school transportation, Lion is driving the energy transition in heavy-duty vehicle industries, aiming to enhance society, the environment, and overall quality of life through electric vehicle adoption.

 

NFI Group Inc.

Headquarters: Winnipeg, Canada
Establishment: 1930
Website: www.nfigroup.com

 

With 450 years of combined expertise, NFI leads global mass mobility electrification, offering zero-emission buses, coaches, and infrastructure for smart urban transport solutions. Empowering livable cities, NFI boasts 7,500 team members across nine countries, manufacturing under renowned brands like New Flyer®, MCI®, and Alexander Dennis Limited. Offering a broad range of sustainable drive systems, including electric, natural gas, and clean diesel, NFI supports over 105,000 buses and coaches worldwide. With the largest zero-emission bus production capacity in North America and the UK, NFI is at the forefront of sustainable transportation.

 

Motiv Power Systems Inc.

Headquarters: California, United States
Establishment: 2009
Website: www.motivps.com

 

Motiv Power Systems, headquartered in the San Francisco Bay Area, leads in manufacturing medium-duty commercial all-electric trucks and buses. Passionate about reducing emissions and operating costs, Motiv offers advanced technology, safety features, and comprehensive fleet solutions. Founded in 2009, their focus on step vans, shuttle buses, and box trucks emphasises daily-use zero-emission vehicles, boasting 98% uptime and significant cost savings. Motiv's commitment to electrifying fleets aligns with a vision for a cleaner, sustainable world, ensuring healthier communities while enhancing operational efficiency and customer satisfaction.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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