The Electric Bus market is expected to grow from USD 34.61 billion in 2022 to USD 137.96 billion by 2032, at a CAGR of 14.83% during the forecast period 2023-2032.
An E-bus or electric bus is a type of bus with no conventional internal combustion drivetrain and is entirely electric. Electric buses are driven by an onboard electric motor powered by an onboard battery or battery pack. They are environmentally friendly as they do not produce any pollutants and are economical compared to conventional petrol/diesel buses.
The growing requirements for high-performance, low-emission, and energy-efficient buses, strict government standards and regulations on vehicle emissions, and falling battery prices are driving the growth of the electric bus market. Conversely, low cell efficiency, serviceability and rising manufacturing costs hamper the market's growth. Moreover, rapid technological developments and increasing government initiatives towards adopting electric buses are expected to create significant growth opportunities over the forecast period.
This study comprehensively analyses type, battery, end-user, and region. The type segment includes battery electric vehicle, fuel cell electric vehicle and plug-in hybrid electric vehicle. The battery-electric vehicle segment held the largest market share in 2022. Battery-powered buses are a more efficient substitute for zero-emission or low-emission vehicles. Battery electric vehicles are more efficient than traditional buses. Battery-powered buses can travel faster than fuel or petrol-powered buses. Battery electric vehicles are easier and less expensive to charge than diesel or gasoline-powered buses. The battery segment is divided into lithium nickel manganese cobalt oxide and lithium iron phosphate. The lithium iron phosphate segment registered the largest market share in 2022 due to its low maintenance cost and long lifespan. The end-user segment is classified into private and public. The public segment held the highest market revenue in 2022 owing to the growing demand for transportation and governments' introduction of various greenhouse gas emissions to reduce air and noise pollution and dependence on fossil fuels.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region held the highest market revenue in 2022 due to the rising awareness and demand for green transportation, strict government regulations, increasing charging infrastructure and environmental concerns.
Some of the notable players in the market are AB Volvo, Ankai Bus, BYD Company Ltd., Construcciones y Auxiliar de Ferrocarriles, S.A., Daimler AG, NFI Group Inc., Proterra, VDL GROEP BV, Yutong Group, Zhongtong Bus Holdings Co., Ltd., MAN SE, Nissan Motor Corporation, Ashok Leyland Limited, Zhengzhou Yutong Bus Co., Ltd., TATA Motors Limited and Hyundai Motor Company among others.
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Type
4.3.2. Market Attractiveness Analysis By Battery
4.3.3. Market Attractiveness Analysis By End-use
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increase in demand for fuel-efficient, high-performance, and low emission buses
5.2.2. Reduction in cost of electric vehicle batteries
5.3. Restraints
5.3.1. High cost of investment and complication in operating advanced systems
5.4. Opportunities
5.4.1. Technology advancements
5.5. Challenges
5.5.1. Low battery efficiency
6. Global Electric Bus Market Analysis and Forecast, By Type
6.1. Segment Overview
6.2. Battery Electric Vehicle
6.3. Fuel Cell Electric Vehicle
6.4. Plug-in Hybrid Electric Vehicle
7. Global Electric Bus Market Analysis and Forecast, By Battery
7.1. Segment Overview
7.2. Lithium Nickel Manganese Cobalt Oxide
7.3. Lithium Iron Phosphate
8. Global Electric Bus Market Analysis and Forecast, By End-use
8.1. Segment Overview
8.2. Private
8.3. Public
9. Global Electric Bus Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Electric Bus Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Electric Bus Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. AB Volvo
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Ankai Bus
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. BYD Company Ltd.
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Construcciones y Auxiliar de Ferrocarriles, S.A.
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Daimler AG
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. NFI Group Inc.
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Proterra
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. VDL GROEP BV
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Yutong Group
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Zhongtong Bus Holdings Co., Ltd.
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. MAN SE
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
11.12. Nissan Motor Corporation
11.12.1. Business Overview
11.12.2. Company Snapshot
11.12.3. Company Market Share Analysis
11.12.4. Company Product Portfolio
11.12.5. Recent Developments
11.12.6. SWOT Analysis
11.13. Ashok Leyland Limited
11.13.1. Business Overview
11.13.2. Company Snapshot
11.13.3. Company Market Share Analysis
11.13.4. Company Product Portfolio
11.13.5. Recent Developments
11.13.6. SWOT Analysis
11.14. Zhengzhou Yutong Bus Co., Ltd.
11.14.1. Business Overview
11.14.2. Company Snapshot
11.14.3. Company Market Share Analysis
11.14.4. Company Product Portfolio
11.14.5. Recent Developments
11.14.6. SWOT Analysis
11.15. TATA Motors Limited
11.15.1. Business Overview
11.15.2. Company Snapshot
11.15.3. Company Market Share Analysis
11.15.4. Company Product Portfolio
11.15.5. Recent Developments
11.15.6. SWOT Analysis
11.16. Hyundai Motor Company
11.16.1. Business Overview
11.16.2. Company Snapshot
11.16.3. Company Market Share Analysis
11.16.4. Company Product Portfolio
11.16.5. Recent Developments
11.16.6. SWOT Analysis
List of Table
1. Global Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
2. Global Battery Electric Vehicle, Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
3. Global Fuel Cell Electric Vehicle, Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
4. Global Plug-in Hybrid Electric Vehicle, Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
5. Global Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
6. Global Lithium Nickel Manganese Cobalt Oxide, Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
7. Global Lithium Iron Phosphate, Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
8. Global Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
9. Global Private Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
10. Global Public Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
11. Global Electric Bus Market, By Region, 2019-2032 (USD Billion) (K Units)
12. North America Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
13. North America Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
14. North America Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
15. U.S. Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
16. U.S. Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
17. U.S. Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
18. Canada Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
19. Canada Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
20. Canada Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
21. Mexico Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
22. Mexico Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
23. Mexico Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
24. Europe Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
25. Europe Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
26. Europe Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
27. Germany Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
28. Germany Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
29. Germany Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
30. France Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
31. France Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
32. France Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
33. U.K. Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
34. U.K. Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
35. U.K. Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
36. Italy Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
37. Italy Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
38. Italy Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
39. Spain Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
40. Spain Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
41. Spain Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
42. Asia Pacific Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
43. Asia Pacific Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
44. Asia Pacific Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
45. Japan Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
46. Japan Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
47. Japan Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
48. China Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
49. China Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
50. China Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
51. India Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
52. India Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
53. India Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
54. South America Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
55. South America Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
56. South America Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
57. Brazil Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
58. Brazil Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
59. Brazil Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
60. Middle East and Africa Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
61. Middle East and Africa Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
62. Middle East and Africa Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
63. UAE Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
64. UAE Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
65. UAE Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
66. South Africa Electric Bus Market, By Type, 2019-2032 (USD Billion) (K Units)
67. South Africa Electric Bus Market, By Battery, 2019-2032 (USD Billion) (K Units)
68. South Africa Electric Bus Market, By End-use, 2019-2032 (USD Billion) (K Units)
List of Figures
1. Global Electric Bus Market Segmentation
2. Electric Bus Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Electric Bus Market Attractiveness Analysis By Type
9. Global Electric Bus Market Attractiveness Analysis By Battery
10. Global Electric Bus Market Attractiveness Analysis By End-use
11. Global Electric Bus Market Attractiveness Analysis by Region
12. Global Electric Bus Market: Dynamics
13. Global Electric Bus Market Share By Type (2023 & 2032)
14. Global Electric Bus Market Share By Battery (2023 & 2032)
15. Global Electric Bus Market Share By End-use (2023 & 2032)
16. Global Electric Bus Market Share by Regions (2023 & 2032)
17. Global Electric Bus Market Share by Company (2022)
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