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Report Overview
The electric bus market attained a value of USD 21.00 Billion in 2025. The market is expected to grow at a CAGR of 14.40% during the forecast period of 2026-2035. By 2035, the market is expected to reach USD 80.63 Billion.
The introduction of swappable-battery modules is emerging as a niche yet transformative driver in the global electric bus market. In 2025, May Mobility, in collaboration with Italy’s Tecnobus, unveiled an autonomous mini electric bus featuring easily replaceable battery modules. This innovation minimizes downtime by allowing depleted batteries to be swapped within minutes instead of waiting for long charging cycles. Such modular energy systems significantly enhance fleet utilization, operational efficiency, and route flexibility, making electric buses more viable for continuous urban, campus, and airport shuttle operations.
Global efforts to curb climate change have led governments to impose strict emission regulations, significantly influencing the electric bus market. Zero-emission vehicle mandates, low-emission zones in cities, and penalties on diesel use are pushing transit agencies to switch to cleaner alternatives. These supportive frameworks not only reduce upfront costs but also make electric buses more competitive against traditional diesel models, accelerating adoption across both developed and emerging economies.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
Competitive Landscape
Key players in the electric bus market are employing several key strategies to strengthen their position and accelerate adoption. Technological innovation is central as manufacturers focus on improving battery energy density, reducing charging times, and enhancing vehicle range to meet diverse urban transit needs. Second, strategic partnerships with governments, energy providers, and financial institutions facilitate infrastructure development and funding access, enabling large-scale deployments.
Additionally, companies adopt customized solutions, such as tailored bus sizes and charging systems for different city layouts and climate conditions. Sustainability and ESG alignment attract green financing and investor interest, reducing capital costs. Smart city initiatives are enabling fleet electrification to align with broader urban mobility and emission reduction goals. Finally, many players engage in policy advocacy to influence favourable regulations, subsidies, and emission standards, further driving electric bus demand globally.
BYD Motors Inc.
Founded in 1995 and headquartered in Shenzhen, China, BYD has become a global leader in electric vehicles, including buses. It pioneered iron-phosphate battery technology and has deployed thousands of electric buses worldwide, notably in Europe and North America. BYD emphasizes vertical integration and green innovation across its production lines.
Solaris Bus & Coach sp. z o.o.
Established in 1996 and based in Bolechowo, Poland, Solaris is recognized for its leadership in zero-emission public transport. It introduced Europe’s first serially produced electric bus and hydrogen-powered Urbino models. Solaris buses operate in over 30 countries, known for reliability, energy efficiency, and advanced climate-friendly technology.
Volvo Group
Volvo Group, founded in 1927 and headquartered in Gothenburg, Sweden, is a pioneer in commercial transport innovation. Its Volvo Buses division has led developments in electric and hybrid buses, including the Volvo 7900 Electric and BZR platform. Volvo integrates safety, sustainability, and smart connectivity in urban mobility solutions.
Yutong Bus Co., Ltd.
Founded in 1993 and headquartered in Zhengzhou, China, Yutong is one of the world’s largest bus manufacturers. It excels in electric and autonomous bus technologies, with major deployments in Asia, Europe, and Latin America. Yutong’s e-buses feature proprietary battery management systems and have won numerous international sustainability awards.
Other players in the electric bus market are VDL Bus & Coach BV, Hyundai Motor Company, Edison Motors Co., Ltd., Zhongtong Bus Holding Co., Ltd., IVECO S.p.A, EvoBus GmbH (Daimler Truck), and others.
Electric Bus Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 14.40% between 2026 and 2035.
The key strategies driving the market include government incentives, zero-emission regulations, advancements in battery technology, fleet electrification commitments, infrastructure development, cost reduction, and partnerships among manufacturers, transit agencies, and energy providers.
The rising prices of traditional fossil fuels, stringent regulations by various governments aimed towards curbing pollution, and growing research and development activities by the electric bus manufacturers, are the key trends in the market.
Fuel cell electric vehicle (FCEV), battery electric vehicle (BEV), and plug-in hybrid electric vehicle (PHEV) are the different segments in the electric bus market based on propulsion type.
Less than 9 meters, 9-14 meters, and above 14 meters are the different categories based on length.
The high purchasing price of an electric bus and limited infrastructure for recharging is likely to pose challenges to the growth of the market for electric buses.
An electric bus has a battery of 160 kWh, while the shorter electric buses have a battery of 240 kWh.
An electric bus typically uses a lithium-ion battery which allows an electric bus to run as far as 150 miles in a single recharge.
In 2025, the market reached an approximate value of USD 21.00 Billion.
The key players in the market report include BYD Motors Inc., Solaris Bus & Coach sp. z o.o, Volvo Group, Yutong Bus Co., Ltd., VDL Bus & Coach BV, Hyundai Motor Company, Edison Motors Co., Ltd., Zhongtong Bus Holding Co., Ltd., IVECO S.p.A, EvoBus GmbH (Daimler Truck), and others.
Cheddar dominates the market, driven by its versatile flavour and wide application across snacks, sauces, baked goods, and ready meals.
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