Electric Bus Market Size - By Type, By Battery Capacity, By Seating Capacity, By Application & Forecast, 2024

Description

Global Electric Bus Market size will expand at over 14% CAGR from 2024 to 2032, due to the increasing partnerships between multiple countries to boost their sales due to numerous advantages. These collaborations are enhancing technological innovation, improving infrastructure, and reducing costs. These partnerships will also promote cleaner transportation and support sustainable urban development.

Governments and private sectors are working together and will be continuing to invest in eco-friendly solutions to ensure the widespread adoption of electric buses globally. For instance, in September 2023, India and the U.S. joined hands to launch 10,000 electric buses on Indian streets. This initiative aimed to promote sustainable transportation while reducing pollution and enhancing the adoption of eco-friendly technologies in urban areas across the country.

The electric bus market is segregated into propulsion, battery capacity, seating capacity, service, and region.

By propulsion, the PHEV segment is estimated to rise at a significant rate from 2024 to 2032. This is due to the surging focus of manufacturers on enhancing PHEV technology, improving battery efficiency, and reducing costs. The preference for PHEV is rising due to increasing environmental regulations and government incentives. With cities worldwide adopting cleaner transportation solutions, PHEVs will be playing a crucial role in this transition, providing a bridge between conventional and fully electric buses.

The intercity service segment of the electric buses industry is expected to expand from 2024 to 2032. This is owing to numerous companies investing in advanced battery technologies and expanding charging infrastructure. Governments and transportation agencies are implementing various policies to support the transition to electric buses. Moreover, operators will continue to adopt these eco-friendly solutions to reduce emissions and operational costs to make intercity travel cleaner and more efficient. For instance, in March 2024, Volvo Buses launched the Volvo 8900 Electric intercity bus for expanding its electromobility offer. With companies investing in advanced battery technologies and expanding charging infrastructure to support eco-friendly transportation solutions, the segment will record sustained growth.

Regionally, the Europe electric bus industry size is projected to depict robust growth between 2024 and 2032. On account of environmental regulations, multiple cities in the region are increasingly adopting cleaner transportation solutions. As urbanization and population growth continue, the demand for electric buses is expected to further increase. Governments are implementing policies to incentivize the adoption of eco-friendly vehicles to ensure a sustainable and efficient public transportation system for the future. Europe further strives to mitigate pollution and reduce carbon emissions in its urban centers, adding to the regional market growth.

Product Code: 4959

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360 degree synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material suppliers
- 3.2.2 Component suppliers
- 3.2.3 Manufacturers
- 3.2.4 Service providers
- 3.2.5 Distribution channel
- 3.2.6 End users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Significant electrification of public transport
  - 3.8.1.2 Low maintenance cost of electric bus
  - 3.8.1.3 Increasing government investment in charging infrastructure development in North America
  - 3.8.1.4 Rising R&D development in battery technology in Europe
  - 3.8.1.5 Growing demand for eco-friendly transport and mobility in Asia Pacific
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 3.8.2.1. High cost associated with electric bus
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Propulsion, 2021 - 2032 ($Mn & Units)

5.1 Key trends
5.2 All-electric
5.3 PHEV
5.4 FCEV

Chapter 6 Market Estimates & Forecast, By Battery Capacity, 2021 - 2032 ($Mn & Units)

6.1 Key trends
6.2 Below 100 kWh
6.3 100-300 kWh
6.4 Above 300 kWh

Chapter 7 Market Estimates & Forecast, By Seating Capacity, 2021 - 2032 ($Mn & Units)

7.1 Key trends
7.2 Below 40
7.3 40-70
7.4 Above 70

Chapter 8 Market Estimates & Forecast, By Application, 2021 - 2032 ($Mn & Units)

8.1 Key trends
8.2 Intercity
8.3 Intracity

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Mn & Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Russia
- 9.3.6 Belgium
- 9.3.7 Sweden
- 9.3.8 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Indonesia
- 9.4.6 Thailand
- 9.4.7 Vietnam
- 9.4.8 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 UAE
- 9.6.3 Saudi Arabia
- 9.6.4 Iran
- 9.6.5 Turkey
- 9.6.6 Rest of MEA

Chapter 10 Company Profiles

10.1 Anhui Ankai Automobile Co., Ltd.
10.2 Beiqi Foton Motor Co., Ltd.
10.3 BYD Co. Ltd.
10.4 Daimler AG
10.5 Ebusco
10.6 Irizar Group
10.7 IVECO S.p.A.
10.8 King Long United Automotive Industry Co., Ltd.
10.9 MAN BUS
10.10 NFI Group, Inc.
10.11 Proterra
10.12 Scania AB
10.13 Solaris Bus & Couch
10.14 TATA motors
10.15 VDL Bus & Coach
10.16 Volvo
10.17 Xiamen Golden Dragon Bus Co. Ltd
10.18 Zhengzhou Yutong Bus Co., Ltd.
10.19 Zhongtong Bus Co. Ltd.

Electric Bus Market Size - By Type, By Battery Capacity, By Seating Capacity, By Application & Forecast, 2024 - 2032