Electric Bus Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Key Highlights

The electric bus market generated a value of USD 18.8 billion in 2023, which will increase to USD 48.5 billion, with a 14.6% compound annual growth rate, by 2030.

The rising worries over GHG emissions are the major factor driving the industry growth.

The increasing concerns of environmental agencies and governments regarding air quality degradation because of the rising urban vehicular emissions have resulted in the formulation of strict environmental rules.

Presently, traditional diesel-driven buses are a major part of the public transport system, but they significantly contribute to GHG emissions.

Strict emission guidelines are being encouraged, which, along with the increasing environmental consciousness among individuals, promote the deployment of zero and low-emission transportation systems globally.

The arrival of autonomous buses is a major trend being observed in this industry.

The technological improvements in the areas of actuation & instrumentation and sensing technologies have resulted in the rise of semiautonomous and autonomous transport systems.

Autonomous buses are armed with features like LiDAR, GPS, computer-aided vision, and odometer, which help them notice their environments.

Sensory data is interpreted by advanced control systems to classify obstacles, appropriate navigation paths, and signage.

Automated driving has increased in popularity in this industry as the technology offers greater efficiency and decreased expenses.

Key Insights

APAC accounted for the largest share of the industry in 2023, of approximately 50%. China, among all nations, continues to remain the largest market for electric buses across the globe.

North America will propel at the fastest rate in the years to come. This is because manufacturers in the continent are heavily investing to produce and improve these vehicles.

Battery electric buses (BEBs) led the industry in 2023, with approximately 45% share, because of the rising government backing, in the form of subsidies and incentives, to increase their acceptance.

The lithium-iron phosphate (LFP) category will continue to lead the industry in the years to come.

Lithium-iron phosphate batteries are more robust compared to others and, thus, are ideal for heavy-duty electric buses.

The less than 10 meters category is leading the industry. This is because of the ease of driving smaller buses and the greater control the driver has over them.

Short-length buses can be controlled easily on a sharp turn like on congested roads and in hilly areas.

The more than 10 meters category will grow at the fastest rate, because of the surging population and rising transportation requirements in cities.

In 2023, the intracity category led the industry. This is because of the rising need for public transport and the growing count of schools, colleges, tourist places, and workplaces, accepting electric buses in their fleets.

The public category led the industry in 2023, with a share of approximately 70%.

The rising efforts of public transport operators to include electric buses in their fleets have largely profited the industry expansion in the public category globally.

Players are taking strategic steps to boost their position in the market. These strategic steps comprise mergers & acquisitions, partnerships, and business expansions.

Product Code: 10573

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by propulsion
- 1.4.2. Market size breakdown, by length
- 1.4.3. Market size breakdown, by battery
- 1.4.4. Market size breakdown, by application
- 1.4.5. Market size breakdown, by end use
- 1.4.6. Market size breakdown, by region
- 1.4.7. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Volume, by Propulsion (2017-2030)
6.3. Market Revenue, by Propulsion (2017-2030)
6.4. Market Volume, by Length (2017-2030)
6.5. Market Revenue, by Length (2017-2030)
6.6. Market Volume, by Battery (2017-2030)
6.7. Market Revenue, by Battery (2017-2030)
6.8. Market Volume, by Application (2017-2030)
6.9. Market Revenue, by Application (2017-2030)
6.10. Market Volume, by End Use (2017-2030)
6.11. Market Revenue, by End Use (2017-2030)
6.12. Market Volume, by Region (2017-2030)
6.13. Market Revenue, by Region (2017-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Volume, by Propulsion (2017-2030)
7.3. Market Revenue, by Propulsion (2017-2030)
7.4. Market Volume, by Length (2017-2030)
7.5. Market Revenue, by Length (2017-2030)
7.6. Market Volume, by Battery (2017-2030)
7.7. Market Revenue, by Battery (2017-2030)
7.8. Market Volume, by Application (2017-2030)
7.9. Market Revenue, by Application (2017-2030)
7.10. Market Volume, by End Use (2017-2030)
7.11. Market Revenue, by End Use (2017-2030)
7.12. Market Volume, by Country (2017-2030)
7.13. Market Revenue, by Country (2017-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Volume, by Propulsion (2017-2030)
8.3. Market Revenue, by Propulsion (2017-2030)
8.4. Market Volume, by Length (2017-2030)
8.5. Market Revenue, by Length (2017-2030)
8.6. Market Volume, by Battery (2017-2030)
8.7. Market Revenue, by Battery (2017-2030)
8.8. Market Volume, by Application (2017-2030)
8.9. Market Revenue, by Application (2017-2030)
8.10. Market Volume, by End Use (2017-2030)
8.11. Market Revenue, by End Use (2017-2030)
8.12. Market Volume, by Country (2017-2030)
8.13. Market Revenue, by Country (2017-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Volume, by Propulsion (2017-2030)
9.3. Market Revenue, by Propulsion (2017-2030)
9.4. Market Volume, by Length (2017-2030)
9.5. Market Revenue, by Length (2017-2030)
9.6. Market Volume, by Battery (2017-2030)
9.7. Market Revenue, by Battery (2017-2030)
9.8. Market Volume, by Application (2017-2030)
9.9. Market Revenue, by Application (2017-2030)
9.10. Market Volume, by End Use (2017-2030)
9.11. Market Revenue, by End Use (2017-2030)
9.12. Market Volume, by Country (2017-2030)
9.13. Market Revenue, by Country (2017-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Volume, by Propulsion (2017-2030)
10.3. Market Revenue, by Propulsion (2017-2030)
10.4. Market Volume, by Length (2017-2030)
10.5. Market Revenue, by Length (2017-2030)
10.6. Market Volume, by Battery (2017-2030)
10.7. Market Revenue, by Battery (2017-2030)
10.8. Market Volume, by Application (2017-2030)
10.9. Market Revenue, by Application (2017-2030)
10.10. Market Volume, by End Use (2017-2030)
10.11. Market Revenue, by End Use (2017-2030)
10.12. Market Volume, by Country (2017-2030)
10.13. Market Revenue, by Country (2017-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Volume, by Propulsion (2017-2030)
11.3. Market Revenue, by Propulsion (2017-2030)
11.4. Market Volume, by Length (2017-2030)
11.5. Market Revenue, by Length (2017-2030)
11.6. Market Volume, by Battery (2017-2030)
11.7. Market Revenue, by Battery (2017-2030)
11.8. Market Volume, by Application (2017-2030)
11.9. Market Revenue, by Application (2017-2030)
11.10. Market Volume, by End Use (2017-2030)
11.11. Market Revenue, by End Use (2017-2030)
11.12. Market Volume, by Country (2017-2030)
11.13. Market Revenue, by Country (2017-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Volume, by Propulsion (2017-2030)
12.3. Market Revenue, by Propulsion (2017-2030)
12.4. Market Volume, by Length (2017-2030)
12.5. Market Revenue, by Length (2017-2030)
12.6. Market Volume, by Battery (2017-2030)
12.7. Market Revenue, by Battery (2017-2030)
12.8. Market Volume, by Application (2017-2030)
12.9. Market Revenue, by Application (2017-2030)
12.10. Market Volume, by End Use (2017-2030)
12.11. Market Revenue, by End Use (2017-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Volume, by Propulsion (2017-2030)
13.3. Market Revenue, by Propulsion (2017-2030)
13.4. Market Volume, by Length (2017-2030)
13.5. Market Revenue, by Length (2017-2030)
13.6. Market Volume, by Battery (2017-2030)
13.7. Market Revenue, by Battery (2017-2030)
13.8. Market Volume, by Application (2017-2030)
13.9. Market Revenue, by Application (2017-2030)
13.10. Market Volume, by End Use (2017-2030)
13.11. Market Revenue, by End Use (2017-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Volume, by Propulsion (2017-2030)
14.3. Market Revenue, by Propulsion (2017-2030)
14.4. Market Volume, by Length (2017-2030)
14.5. Market Revenue, by Length (2017-2030)
14.6. Market Volume, by Battery (2017-2030)
14.7. Market Revenue, by Battery (2017-2030)
14.8. Market Volume, by Application (2017-2030)
14.9. Market Revenue, by Application (2017-2030)
14.10. Market Volume, by End Use (2017-2030)
14.11. Market Revenue, by End Use (2017-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Volume, by Propulsion (2017-2030)
15.3. Market Revenue, by Propulsion (2017-2030)
15.4. Market Volume, by Length (2017-2030)
15.5. Market Revenue, by Length (2017-2030)
15.6. Market Volume, by Battery (2017-2030)
15.7. Market Revenue, by Battery (2017-2030)
15.8. Market Volume, by Application (2017-2030)
15.9. Market Revenue, by Application (2017-2030)
15.10. Market Volume, by End Use (2017-2030)
15.11. Market Revenue, by End Use (2017-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Volume, by Propulsion (2017-2030)
16.3. Market Revenue, by Propulsion (2017-2030)
16.4. Market Volume, by Length (2017-2030)
16.5. Market Revenue, by Length (2017-2030)
16.6. Market Volume, by Battery (2017-2030)
16.7. Market Revenue, by Battery (2017-2030)
16.8. Market Volume, by Application (2017-2030)
16.9. Market Revenue, by Application (2017-2030)
16.10. Market Volume, by End Use (2017-2030)
16.11. Market Revenue, by End Use (2017-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Volume, by Propulsion (2017-2030)
17.3. Market Revenue, by Propulsion (2017-2030)
17.4. Market Volume, by Length (2017-2030)
17.5. Market Revenue, by Length (2017-2030)
17.6. Market Volume, by Battery (2017-2030)
17.7. Market Revenue, by Battery (2017-2030)
17.8. Market Volume, by Application (2017-2030)
17.9. Market Revenue, by Application (2017-2030)
17.10. Market Volume, by End Use (2017-2030)
17.11. Market Revenue, by End Use (2017-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Volume, by Propulsion (2017-2030)
18.3. Market Revenue, by Propulsion (2017-2030)
18.4. Market Volume, by Length (2017-2030)
18.5. Market Revenue, by Length (2017-2030)
18.6. Market Volume, by Battery (2017-2030)
18.7. Market Revenue, by Battery (2017-2030)
18.8. Market Volume, by Application (2017-2030)
18.9. Market Revenue, by Application (2017-2030)
18.10. Market Volume, by End Use (2017-2030)
18.11. Market Revenue, by End Use (2017-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Volume, by Propulsion (2017-2030)
19.3. Market Revenue, by Propulsion (2017-2030)
19.4. Market Volume, by Length (2017-2030)
19.5. Market Revenue, by Length (2017-2030)
19.6. Market Volume, by Battery (2017-2030)
19.7. Market Revenue, by Battery (2017-2030)
19.8. Market Volume, by Application (2017-2030)
19.9. Market Revenue, by Application (2017-2030)
19.10. Market Volume, by End Use (2017-2030)
19.11. Market Revenue, by End Use (2017-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Volume, by Propulsion (2017-2030)
20.3. Market Revenue, by Propulsion (2017-2030)
20.4. Market Volume, by Length (2017-2030)
20.5. Market Revenue, by Length (2017-2030)
20.6. Market Volume, by Battery (2017-2030)
20.7. Market Revenue, by Battery (2017-2030)
20.8. Market Volume, by Application (2017-2030)
20.9. Market Revenue, by Application (2017-2030)
20.10. Market Volume, by End Use (2017-2030)
20.11. Market Revenue, by End Use (2017-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Volume, by Propulsion (2017-2030)
21.3. Market Revenue, by Propulsion (2017-2030)
21.4. Market Volume, by Length (2017-2030)
21.5. Market Revenue, by Length (2017-2030)
21.6. Market Volume, by Battery (2017-2030)
21.7. Market Revenue, by Battery (2017-2030)
21.8. Market Volume, by Application (2017-2030)
21.9. Market Revenue, by Application (2017-2030)
21.10. Market Volume, by End Use (2017-2030)
21.11. Market Revenue, by End Use (2017-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Volume, by Propulsion (2017-2030)
22.3. Market Revenue, by Propulsion (2017-2030)
22.4. Market Volume, by Length (2017-2030)
22.5. Market Revenue, by Length (2017-2030)
22.6. Market Volume, by Battery (2017-2030)
22.7. Market Revenue, by Battery (2017-2030)
22.8. Market Volume, by Application (2017-2030)
22.9. Market Revenue, by Application (2017-2030)
22.10. Market Volume, by End Use (2017-2030)
22.11. Market Revenue, by End Use (2017-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Volume, by Propulsion (2017-2030)
23.3. Market Revenue, by Propulsion (2017-2030)
23.4. Market Volume, by Length (2017-2030)
23.5. Market Revenue, by Length (2017-2030)
23.6. Market Volume, by Battery (2017-2030)
23.7. Market Revenue, by Battery (2017-2030)
23.8. Market Volume, by Application (2017-2030)
23.9. Market Revenue, by Application (2017-2030)
23.10. Market Volume, by End Use (2017-2030)
23.11. Market Revenue, by End Use (2017-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Volume, by Propulsion (2017-2030)
24.3. Market Revenue, by Propulsion (2017-2030)
24.4. Market Volume, by Length (2017-2030)
24.5. Market Revenue, by Length (2017-2030)
24.6. Market Volume, by Battery (2017-2030)
24.7. Market Revenue, by Battery (2017-2030)
24.8. Market Volume, by Application (2017-2030)
24.9. Market Revenue, by Application (2017-2030)
24.10. Market Volume, by End Use (2017-2030)
24.11. Market Revenue, by End Use (2017-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Volume, by Propulsion (2017-2030)
25.3. Market Revenue, by Propulsion (2017-2030)
25.4. Market Volume, by Length (2017-2030)
25.5. Market Revenue, by Length (2017-2030)
25.6. Market Volume, by Battery (2017-2030)
25.7. Market Revenue, by Battery (2017-2030)
25.8. Market Volume, by Application (2017-2030)
25.9. Market Revenue, by Application (2017-2030)
25.10. Market Volume, by End Use (2017-2030)
25.11. Market Revenue, by End Use (2017-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Volume, by Propulsion (2017-2030)
26.3. Market Revenue, by Propulsion (2017-2030)
26.4. Market Volume, by Length (2017-2030)
26.5. Market Revenue, by Length (2017-2030)
26.6. Market Volume, by Battery (2017-2030)
26.7. Market Revenue, by Battery (2017-2030)
26.8. Market Volume, by Application (2017-2030)
26.9. Market Revenue, by Application (2017-2030)
26.10. Market Volume, by End Use (2017-2030)
26.11. Market Revenue, by End Use (2017-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Volume, by Propulsion (2017-2030)
27.3. Market Revenue, by Propulsion (2017-2030)
27.4. Market Volume, by Length (2017-2030)
27.5. Market Revenue, by Length (2017-2030)
27.6. Market Volume, by Battery (2017-2030)
27.7. Market Revenue, by Battery (2017-2030)
27.8. Market Volume, by Application (2017-2030)
27.9. Market Revenue, by Application (2017-2030)
27.10. Market Volume, by End Use (2017-2030)
27.11. Market Revenue, by End Use (2017-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Volume, by Propulsion (2017-2030)
28.3. Market Revenue, by Propulsion (2017-2030)
28.4. Market Volume, by Length (2017-2030)
28.5. Market Revenue, by Length (2017-2030)
28.6. Market Volume, by Battery (2017-2030)
28.7. Market Revenue, by Battery (2017-2030)
28.8. Market Volume, by Application (2017-2030)
28.9. Market Revenue, by Application (2017-2030)
28.10. Market Volume, by End Use (2017-2030)
28.11. Market Revenue, by End Use (2017-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. BYD Company Limited
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. YUTONG Bus Co. Ltd.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Zhongtong Bus Holding Company Limited
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Solaris Bus & Coach sp. z o.o.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Anhui Ankai Automobile Co. Ltd.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Yinlong Energy International Pte. Ltd.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Skywell New Energy Vehicles Group Co. Ltd.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. Beiqi Foton Motor Co. Ltd.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. VDL Bus & Coach B.V.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. Switch Mobility
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. AB Volvo
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Electric Bus Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)