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United States Electric Bus Market Size, Share, Forecast: 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; 2024-2032
United States Electric Bus Market Outlook
The United States electric bus market size was around USD 889.42 million in 2023. The market is estimated to grow at a CAGR of 19.2% between 2024 and 2032, reaching a market value of nearly USD 4513.59 million by 2032.
Key Trends in the Market
Buses that run on electricity are called electric buses or e-bus, and they are powered by electricity completely or partially. Buses running partially on electricity and combustion engines are known as hybrid buses. Electric buses are not only beneficial for the environment but also provide financial benefits due to their lower operational costs.
- The United States electric bus market growth can be attributed to the increasing focus on decarbonisation and the switch towards electric vehicles. Electric buses in the United States witnessed a significant increase of 66% in 2022. As of September 2022, there were 5,480 full-size battery-electric and fuel-cell electric transit buses and only 3,297 in 2021.
- Stringent environmental regulations aimed at reducing emissions and promoting zero-carbon emission vehicles also drive the United States electric bus market demand. Under the scheme Zero Emission Bus (ZEB), the United States aims to transition all public transit agencies to 100% zero-emission bus fleets by 2040. Moreover, the usage of electric buses is likely to promote cheaper fuel and reduce oil dependence in the coming years.
- Ongoing advancements in electric vehicle (EV) technology, particularly improvements in battery technology and charging infrastructures, are enhancing the feasibility of electric buses. These advancements contribute to making electric buses more competitive, economically viable, and sustainable compared to traditional fossil fuel-powered buses.
United States Electric Bus Market Segmentation
Based on propulsion type, the market can be divided into fuel cell electric vehicle (FCEV), battery electric vehicle (BEV), and plug-in hybrid electric vehicle (PHEV). Based on length, the market is segmented into less than 9 meters, 9-14 meters, and above 14 meters.
By range, the market is segregated into less than 200 miles and more than 200 miles. Based on battery capacity, the market is divided into up to 400 kwh and above 400 kwh. By power output, the market is divided into up to 250kw and above 250kw. The major regional markets of electric bus in the United States New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States electric bus market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- 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.
- GreenPower Motor Company Inc.
- Others
Market Share by Propulsion Type
Battery electric bus (BEB) holds a notable portion of the United States electric bus market share. These buses offer a good transitioning alternative to combustion engines. BEBs have lower operating costs than diesel buses, as they do not require expensive fuel or frequent oil changes. The charging infrastructure for BEBs is rapidly expanding, making it easier to keep them charged and operational.
Meanwhile, plug-in hybrid electric buses are expected to attain a significant share in the forecast period due to notable investments in infrastructural developments.
Market Share by Region
As per the United States electric bus market analysis, growing infrastructural development, increasing government initiatives, and consumer initiatives to reduce carbon emissions are positively impacting the market in regions like Southeast and New England. The growing infrastructural improvement is supporting the overall electric vehicle market expansion in the regions.
As of November 2022, there are 56,256 electric vehicle (EV) charging stations in the United States, of which 52,375 were public electric vehicle charging stations and 3,816 were private electric vehicle charging stations. States like California, Florida, and New York are the leading states for the number of electric vehicle charging stations installed.
Competitive Landscape
Blue Bird Corporation, based in Georgia, the United States, is a bus manufacture. The company primarily focuses on school buses, pupil activity buses (SPAB), and speciality vehicle derivatives. The company has more than 1,500 employees with a presence in more than 60 countries and sales in Africa, Asia, the Caribbean, Latin America, Europe, and the Middle East.
Gillig LLC, headquartered in California, the United States, is a bus designer and manufacturer company founded in 1890. The company is the leading manufacturer of heavy-duty transit buses in the United States. The company has maintained a reputation as the lowest-cost buses to maintain and operate. The company focuses on continuous improvement through customer, supplier, and employee feedback.
Proterra Inc. is a California-based automotive and energy storage company that designs and produces battery electric transit buses, battery systems, and charging solutions for heavy-duty vehicles. The company was established in 2004. The company has 3 facilities, one in California and two in South Carolina.
Other United States electric bus market players include BYD Motors Inc., Volvo AB, Daimler Truck Holding AG, Hyundai Motor Company, Lion Electric Company, NFI Group Inc., Motiv Power Systems Inc., and GreenPower Motor Company Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Propulsion Type |
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| Breakup by Length |
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| Breakup by Range |
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| Breakup by Battery Capacity |
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| Breakup by Power Output |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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
7 Opportunities and Challenges in the Market
8 North America Electric Bus Market Overview
8.1 Key Industry Highlights
8.2 North America Electric Bus Historical Market (2018-2023)
8.3 North America Electric Bus Market Forecast (2024-2032)
8.4 North America Electric Bus Market Share by Country
8.4.1 United States
8.4.2 Canada
9 United States Electric Bus Market Overview
9.1 Key Industry Highlights
9.2 United States Electric Bus Historical Market (2018-2023)
9.3 United States Electric Bus Market Forecast (2024-2032)
10 United States Electric Bus Market by Propulsion Type
10.1 Fuel Cell Electric Vehicle (FCEV)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Battery Electric Vehicle (BEV)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Plug-in Hybrid Electric Vehicle (PHEV)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 United States Electric Bus Market by Length
11.1 Less Than 9 Meters
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 9-14 Meters
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Above 14 Meters
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 United States Electric Bus Market by Range
12.1 Less Than 200 miles
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 More Than 200 miles
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United States Electric Bus Market by Battery Capacity
13.1 Up to 400 kWh
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Above 400 kWh
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 United States Electric Bus Market by Power Output
14.1 Up to 250kW
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Above 250kW
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 United States Electric Bus Market by Region
15.1 New England
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Mideast
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 Great Lakes
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
15.4 Plains
15.4.1 Historical Trend (2018-2023)
15.4.2 Forecast Trend (2024-2032)
15.5 Southeast
15.5.1 Historical Trend (2018-2023)
15.5.2 Forecast Trend (2024-2032)
15.6 Southwest
15.6.1 Historical Trend (2018-2023)
15.6.2 Forecast Trend (2024-2032)
15.7 Rocky Mountain
15.7.1 Historical Trend (2018-2023)
15.7.2 Forecast Trend (2024-2032)
15.8 Far West
15.8.1 Historical Trend (2018-2023)
15.8.2 Forecast Trend (2024-2032)
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter’s Five Forces Analysis
16.2.1 Supplier’s Power
16.2.2 Buyer’s Power
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators of Demand
16.4 Key Indicators of Price
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 BYD Motors Inc.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Volvo AB
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Daimler Truck Holding AG
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Hyundai Motor Company
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Proterra Inc.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Gillig LLC
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Blue Bird Corporation
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Lion Electric Company
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 NFI Group Inc.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Motiv Power Systems Inc.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 GreenPower Motor Company Inc.
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Electric Bus Market: Key Industry Highlights, 2018 and 2032
2. United States Electric Bus Market: Key Industry Highlights, 2018 and 2032
3. United States Electric Bus Historical Market: Breakup by Propulsion Type (USD Million), 2018-2023
4. United States Electric Bus Market Forecast: Breakup by Propulsion Type (USD Million), 2024-2032
5. United States Electric Bus Historical Market: Breakup by Length (USD Million), 2018-2023
6. United States Electric Bus Market Forecast: Breakup by Length (USD Million), 2024-2032
7. United States Electric Bus Historical Market: Breakup by Range (USD Million), 2018-2023
8. United States Electric Bus Market Forecast: Breakup by Range (USD Million), 2024-2032
9. United States Electric Bus Historical Market: Breakup by Battery Capacity (USD Million), 2018-2023
10. United States Electric Bus Market Forecast: Breakup by Battery Capacity (USD Million), 2024-2032
11. United States Electric Bus Historical Market: Breakup by Power Output (USD Million), 2018-2023
12. United States Electric Bus Market Forecast: Breakup by Power Output (USD Million), 2024-2032
13. United States Electric Bus Historical Market: Breakup by Region (USD Million), 2018-2023
14. United States Electric Bus Market Forecast: Breakup by Region (USD Million), 2024-2032
15. United States Electric Bus Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 889.42 million.
The market is assessed to grow at a CAGR of 19.2% between 2024 and 2032.
The market is estimated to witness growth in the forecast period of 2024-2032 to reach around USD 4513.59 million by 2032.
The major market drivers are the increasing focus on decarbonisation and zero carbon emission policies and the growing environmental concerns.
The rising demand for clean transportation, infrastructural development activities, and the increasing research and development (R&D) activities by key players are the key trends aiding the market.
Fuel cell electric vehicles (FCEV), battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) are the major propulsion types for electric buses.
The major segments based on the length of electric buses in the market report are less than 9 meters, 9-14 meters, and above 14 meters.
The key players in the market include 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.
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