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Global Electric Bus Market Share, Growth, Analysis: By Propulsion Type: Fuel Cell Electric Vehicle (FCEV), Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV); By Length: Less than 9 meters, 9-14 meters, Above 14 meters; By Range; By Battery Capacity; By Power Output; Regional Analysis; Competitive Landscape; 2023-2028

Global Electric Bus Market Outlook

The global electric bus market would likely grow at a CAGR of 13.6% during 2023-2028. The demand for electric buses is rising due to the fact that cities, private transit companies and schools are seeking alternatives to conventional buses; electric buses are considered more environmentally-friendly and economical. Many major countries across the world are looking to transform their bus fleets into electric. Asia, North America and Europe are likely to be key markets. 

 

Global Market Likely to be Driven by Search for Alternatives to Conventional Buses and Efforts Towards Zero-emission Transit

Electric buses are electric vehicles fuelled by electricity and not other types of fuel such as gasoline or diesel fuel. Further, an all-electric bus runs solely on electricity, unlike hybrid vehicles that combine battery power with an internal combustion engine. Electric buses are considered more environmentally-friendly and economical (these might cost more initially, but save more over time) than conventional buses, and gaining popularity across the globe.

 

North America and Europe Seek to Electrify Bus Fleets

North America and Europe are making efforts to electrify their bus fleets. For example, American universities and cities have been acquiring electric bus fleets. California has adopted the Innovative Clean Transit Rule (ICTR) which lays down that from 2023, one fourth of new buses bought should be “zero emission”. California seeks to transform its city buses to completely electric by 2040. 

 

New regulations laid down by European Union in 2019 demands that 25 percent of new buses bought by public authorities be “clean” by the year 2025. Such efforts are expected to boost the global electric bus market.

 

Asian Countries are Making Efforts to Electrify Public Transport

Several Asian nations are increasingly making efforts to electrify their public transport; these efforts are likely to drive the global electric bus market. For example, in 2019, it was reported that Delhi was ordering one thousand electric buses. Major electric bus manufacturers in India include Ashok Leyland Limited, Tata Motors Limited, JBM Auto Limited, Olectra Greentech Limited, Deccan Auto Limited, and Eicher Motors Limited.


China leads in the deployment of electric buses. The country explains a major percentage of electric buses in circulation (across the globe). 

 

Advantages of Electric Buses Expected to Boost Market Growth

Advantages of electric buses are expected to drive the global electric bus market; advantages include: 

 

Minimal Environmental Impact – Electric buses are environmentally-friendly and have minimal environmental impact as against combustion engines running on diesel and even hybrid buses. 

 

Quieter Operation – Electric buses run more quietly as compared to other types of buses with internal combustion engines. 

 

Minimum Maintenance – Electric buses need little maintenance. 

 

Economical – While electric buses may cost more initially, these prove more economical over time as maintenance costs are minimized and fuel costs eliminated. 

 

Market Segmentation

By propulsion type, the market is classified into:

  • Battery Electric Vehicle (BEV)
  • Fuel Cell Electric Vehicle (FCEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)

 

By length, the market is segmented into:

  • Less than 9 meters
  • Above 14 meters
  • 9-14 meters

 

By range, the market is divided into:

  • More than 200 miles
  • Less than 200 miles

 

By battery capacity, the market is classified into:

  • Up to 400 kWh
  • Above 400 kWh

 

By power output, the market is segmented into:

  • Up to 250kW
  • Above 250 kW

 

By region, the market is divided into:

  • Europe
  • Middle East and Africa
  • Latin America
  • Asia Pacific
  • North America

 

Key Industry Players in the Market

The report offers an extensive assessment of major players in the global electric bus market; it evaluates their capability, observes latest occurrences such as mergers and acquisitions, capacity expansions, and plant turnarounds:

 

  • 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)
  • Others

 

Using SWOT analysis and Porter’s Five Forces model, the EMR report offers deep insights into the industry. 

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Propulsion Type
  • Length
  • Range
  • Battery Capacity
  • Power Output
  • Region
Breakup by Propulsion Type
  • Fuel Cell Electric Vehicle (FCEV)
  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
Breakup by Length
  • Less than 9 meters
  • 9-14 meters
  • Above 14 meters
Breakup by Range
  • Less than 200 miles
  • More than 200 miles
Breakup by Battery Capacity
  • Up to 400 kWh
  • Above 400 kWh
Breakup by Power Output
  • Up to 250kW
  • Above 250 kW
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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)
  • Others

 

*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.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Electric Bus Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Electric Bus Historical Market (2018-2022) 
    8.3    Global Electric Bus Market Forecast (2023-2028)
    8.4    Global Electric Bus Market by Propulsion Type
        8.4.1    Fuel Cell Electric Vehicle (FCEV)
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Battery Electric Vehicle (BEV)
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Plug-in Hybrid Electric Vehicle (PHEV)
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
    8.5    Global Electric Bus Market by Length
        8.5.1    Less than 9 meters
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    9-14 meters
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Above 14 meters
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Electric Bus Market by Range
        8.6.1    Less than 200 miles
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    More than 200 miles
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Electric Bus Market by Battery Capacity
        8.7.1    Up to 400 kWh
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Above 400 kWh
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
    8.8    Global Electric Bus Market by Power Output
        8.8.1    Up to 250kW
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022)
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Above 250 kW
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022)
            8.8.2.3    Forecast Trend (2023-2028)
    8.9    Global Electric Bus Market by Region
        8.9.1    North America
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2018-2022) 
            8.9.1.3    Forecast Trend (2023-2028)
        8.9.2    Europe
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2018-2022) 
            8.9.2.3    Forecast Trend (2023-2028)
        8.9.3    Asia Pacific
            8.9.3.1    Market Share
            8.9.3.2    Historical Trend (2018-2022) 
            8.9.3.3    Forecast Trend (2023-2028)
        8.9.4    Latin America
            8.9.4.1    Market Share
            8.9.4.2    Historical Trend (2018-2022) 
            8.9.4.3    Forecast Trend (2023-2028)
        8.9.5    Middle East and Africa
            8.9.5.1    Market Share
            8.9.5.2    Historical Trend (2018-2022) 
            8.9.5.3    Forecast Trend (2023-2028)
9    North America Electric Bus Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Electric Bus Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Electric Bus Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Electric Bus Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Electric Bus Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    South Africa
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    BYD Motors Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Solaris Bus & Coach sp. z o.o
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Volvo Group
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Yutong Bus Co., Ltd.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    VDL Bus & Coach BV
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Hyundai Motor Company
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Edison Motors Co., Ltd.
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Zhongtong Bus Holding Co., Ltd.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    IVECO S.p.A
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    EvoBus GmbH (Daimler Truck)
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Electric Bus Market: Key Industry Highlights, 2018 and 2028
2.    Global Electric Bus Historical Market: Breakup by Propulsion Type (USD Million), 2018-2022
3.    Global Electric Bus Market Forecast: Breakup by Propulsion Type (USD Million), 2023-2028
4.    Global Electric Bus Historical Market: Breakup by Length (USD Million), 2018-2022
5.    Global Electric Bus Market Forecast: Breakup by Length (USD Million), 2023-2028
6.    Global Electric Bus Historical Market: Breakup by Range (USD Million), 2018-2022
7.    Global Electric Bus Market Forecast: Breakup by Range (USD Million), 2023-2028
8.    Global Electric Bus Historical Market: Breakup by Battery Capacity (USD Million), 2018-2022
9.    Global Electric Bus Market Forecast: Breakup by Battery Capacity (USD Million), 2023-2028
10.    Global Electric Bus Historical Market: Breakup by Power Output (USD Million), 2018-2022
11.    Global Electric Bus Market Forecast: Breakup by Power Output (USD Million), 2023-2028
12.    Global Electric Bus Historical Market: Breakup by Region (USD Million), 2018-2022
13.    Global Electric Bus Market Forecast: Breakup by Region (USD Million), 2023-2028
14.    North America Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2022
15.    North America Electric Bus Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Europe Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Europe Electric Bus Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Asia Pacific Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Asia Pacific Electric Bus Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Latin America Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Latin America Electric Bus Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Middle East and Africa Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2022
23.    Middle East and Africa Electric Bus Market Forecast: Breakup by Country (USD Million), 2023-2028
24.    Global Electric Bus Market Structure

Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 13.6% in the forecast period of between 2023 and 2028.

The major drivers of the market include the robust development initiatives taken in the modern transport systems, increasing deployment of electric buses in transits, airports, and schools, and changing preference towards comfortable and noise-free rides.

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.

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Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

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