Global Electric Bus Market Size Study, by Propulsion (BEV, FCEV), by Battery (LFP, NMC, NCA), and Regional Forecasts 2022-2032

Description

The global electric bus market is valued at approximately USD 14.89 billion in 2023 and is projected to expand at a remarkable CAGR of 14.20% during the forecast period of 2024-2032. The electric bus sector embodies a revolutionary shift in urban and intercity transportation, driven by the surging demand for sustainable and eco-friendly mobility solutions. These buses, powered by advanced battery technologies such as Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC), are designed to reduce emissions while offering superior operational efficiency. Their adoption has been significantly bolstered by government incentives, stringent emission norms, and growing investments in electric vehicle infrastructure globally.

The increasing preference for Battery Electric Vehicles (BEVs) and Fuel Cell Electric Vehicles (FCEVs) underscores the momentum toward cleaner transportation solutions. City buses dominate the application landscape, serving as a vital cog in urban transit networks, while specialized categories such as school and coach buses gain traction for niche requirements. Moreover, innovations in battery chemistries and advancements in autonomy levels enhance the operational range and safety, positioning electric buses as the future of public and commercial transport.

Despite their immense potential, the market encounters challenges, such as high initial acquisition costs and the need for robust charging infrastructure. Additionally, complexities surrounding the integration of autonomy and power management systems present hurdles for widespread adoption. However, collaborative initiatives among OEMs, energy providers, and public sector entities aim to mitigate these barriers, fostering a sustainable ecosystem for electric mobility.

Geographically, the Asia-Pacific region leads the market, driven by China's dominance in electric vehicle production and supportive government policies. Europe emerges as a prominent contender, propelled by its stringent emission regulations and comprehensive electrification goals. North America follows closely, with increasing adoption of zero-emission buses in cities across the U.S. and Canada. Latin America and the Middle East & Africa regions also exhibit significant growth potential, spurred by investments in urban infrastructure modernization.

Major market players included in this report are:

BYD Company Ltd.
Proterra Inc.
AB Volvo
Daimler AG
Zhengzhou Yutong Bus Co., Ltd.
NFI Group Inc.
Solaris Bus & Coach S.A.
Tata Motors Limited
CNH Industrial N.V.
Ashok Leyland
VDL Bus & Coach BV
Alexander Dennis Limited
Scania AB
King Long United Automotive Industry Co., Ltd.
Gillig Corporation

The detailed segments and sub-segment of the market are explained below:

By Propulsion:

BEV (Battery Electric Vehicle)
FCEV (Fuel Cell Electric Vehicle)

By Battery:

Lithium Iron Phosphate (LFP)
Nickel Manganese Cobalt (NMC)
Nickel Cobalt Aluminum (NCA)

By Length:

<9m
9m-14m
14m

By Application:

City
Coach
Midi
School

By Seating/Battery Capacity:

Detailed breakdown based on vehicle specifications

By Range:

Up to 150 miles
150-300 miles
More than 300 miles

By Power Output:

Less than 100 kW
100-250 kW
More than 250 kW

By Autonomy Level:

Partial Automation
High Automation
Full Automation

By Component:

Electric Drive
Battery Systems
Charging Systems
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Takeaways:

Market estimates & forecasts for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations for future market approaches.
Analysis of the competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Electric Bus Market Executive Summary

1.1. Global Electric Bus Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Propulsion
- 1.3.2. By Battery
- 1.3.3. By Length
- 1.3.4. By Application
- 1.3.5. By Seating/Battery Capacity
- 1.3.6. By Range
- 1.3.7. By Power Output
- 1.3.8. By Autonomy Level
- 1.3.9. By Component
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Electric Bus Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Electric Bus Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand for Sustainable Transportation
- 3.1.2. Government Incentives and Support
- 3.1.3. Technological Advancements in Battery and Autonomy
3.2. Market Challenges
- 3.2.1. High Initial Acquisition Costs
- 3.2.2. Limited Charging Infrastructure
3.3. Market Opportunities
- 3.3.1. Expansion in Public Transit Systems
- 3.3.2. Strategic Partnerships and Collaborations
- 3.3.3. Innovations in Battery Technology and Autonomous Systems

Chapter 4. Global Electric Bus Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Electric Bus Market Size & Forecasts by Propulsion 2022-2032

5.1. Segment Dashboard
5.2. Global Electric Bus Market: Propulsion Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. BEV (Battery Electric Vehicle)
- 5.2.2. FCEV (Fuel Cell Electric Vehicle)

Chapter 6. Global Electric Bus Market Size & Forecasts by Battery 2022-2032

6.1. Segment Dashboard
6.2. Global Electric Bus Market: Battery Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Lithium Iron Phosphate (LFP)
- 6.2.2. Nickel Manganese Cobalt (NMC)
- 6.2.3. Nickel Cobalt Aluminum (NCA)

Chapter 7. Global Electric Bus Market Size & Forecasts by Length 2022-2032

7.1. Segment Dashboard
7.2. Global Electric Bus Market: Length Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. <9m
- 7.2.2. 9m-14m
- 7.2.3. >14m

Chapter 8. Global Electric Bus Market Size & Forecasts by Application 2022-2032

8.1. Segment Dashboard
8.2. Global Electric Bus Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. City
- 8.2.2. Coach
- 8.2.3. Midi
- 8.2.4. School

Chapter 9. Global Electric Bus Market Size & Forecasts by Seating/Battery Capacity 2022-2032

9.1. Segment Dashboard
9.2. Global Electric Bus Market: Seating/Battery Capacity Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 9.2.1. Detailed breakdown based on vehicle specifications

Chapter 10. Global Electric Bus Market Size & Forecasts by Range 2022-2032

10.1. Segment Dashboard
10.2. Global Electric Bus Market: Range Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 10.2.1. Up to 150 miles
- 10.2.2. 150-300 miles
- 10.2.3. More than 300 miles

Chapter 11. Global Electric Bus Market Size & Forecasts by Power Output 2022-2032

11.1. Segment Dashboard
11.2. Global Electric Bus Market: Power Output Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 11.2.1. Less than 100 kW
- 11.2.2. 100-250 kW
- 11.2.3. More than 250 kW

Chapter 12. Global Electric Bus Market Size & Forecasts by Autonomy Level 2022-2032

12.1. Segment Dashboard
12.2. Global Electric Bus Market: Autonomy Level Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 12.2.1. Partial Automation
- 12.2.2. High Automation
- 12.2.3. Full Automation

Chapter 13. Global Electric Bus Market Size & Forecasts by Component 2022-2032

13.1. Segment Dashboard
13.2. Global Electric Bus Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 13.2.1. Electric Drive
- 13.2.2. Battery Systems
- 13.2.3. Charging Systems
- 13.2.4. Others

Chapter 14. Global Electric Bus Market Size & Forecasts by Region 2022-2032

14.1. North America Electric Bus Market
- 14.1.1. U.S. Electric Bus Market
  - 14.1.1.1. Propulsion Breakdown Size & Forecasts, 2022-2032
  - 14.1.1.2. Battery Breakdown Size & Forecasts, 2022-2032
  - 14.1.1.3. Length Breakdown Size & Forecasts, 2022-2032
  - 14.1.1.4. Application Breakdown Size & Forecasts, 2022-2032
- 14.1.2. Canada Electric Bus Market
14.2. Europe Electric Bus Market
- 14.2.1. UK Electric Bus Market
- 14.2.2. Germany Electric Bus Market
- 14.2.3. France Electric Bus Market
- 14.2.4. Spain Electric Bus Market
- 14.2.5. Italy Electric Bus Market
- 14.2.6. Rest of Europe Electric Bus Market
14.3. Asia-Pacific Electric Bus Market
- 14.3.1. China Electric Bus Market
- 14.3.2. India Electric Bus Market
- 14.3.3. Japan Electric Bus Market
- 14.3.4. Australia Electric Bus Market
- 14.3.5. South Korea Electric Bus Market
- 14.3.6. Rest of Asia Pacific Electric Bus Market
14.4. Latin America Electric Bus Market
- 14.4.1. Brazil Electric Bus Market
- 14.4.2. Mexico Electric Bus Market
- 14.4.3. Rest of Latin America Electric Bus Market
14.5. Middle East & Africa Electric Bus Market
- 14.5.1. Saudi Arabia Electric Bus Market
- 14.5.2. South Africa Electric Bus Market
- 14.5.3. Rest of Middle East & Africa Electric Bus Market

Chapter 15. Competitive Intelligence

15.1. Key Company SWOT Analysis
- 15.1.1. BYD Company Ltd.
- 15.1.2. Proterra Inc.
- 15.1.3. AB Volvo
15.2. Top Market Strategies
15.3. Company Profiles
- 15.3.1. BYD Company Ltd.
  - 15.3.1.1. Key Information
  - 15.3.1.2. Overview
  - 15.3.1.3. Financial (Subject to Data Availability)
  - 15.3.1.4. Product Summary
  - 15.3.1.5. Market Strategies
- 15.3.2. Proterra Inc.
- 15.3.3. AB Volvo
- 15.3.4. Daimler AG
- 15.3.5. Zhengzhou Yutong Bus Co., Ltd.
- 15.3.6. NFI Group Inc.
- 15.3.7. Solaris Bus & Coach S.A.
- 15.3.8. Tata Motors Limited
- 15.3.9. CNH Industrial N.V.
- 15.3.10. Ashok Leyland
- 15.3.11. VDL Bus & Coach BV
- 15.3.12. Alexander Dennis Limited
- 15.3.13. Scania AB
- 15.3.14. King Long United Automotive Industry Co., Ltd.
- 15.3.15. Gillig Corporation

Chapter 16. Research Process

16.1. Research Process
- 16.1.1. Data Mining
- 16.1.2. Analysis
- 16.1.3. Market Estimation
- 16.1.4. Validation
- 16.1.5. Publishing
16.2. Research Attributes