Electric Mid- & Large Bus Market by Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Hybrid Electric Vehicle), Seating Capacity (70 Seats and Above, Below 70 Seats), Level of Autonomy, Application, End-use - Global Forecast 2024-2030

Electric Mid- & Large Bus Market by Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Hybrid Electric Vehicle), Seating Capacity (70 Seats and Above, Below 70 Seats), Level of Autonomy, Application, End-use - Global Forecast 2024-2030

The Electric Mid- & Large Bus Market size was estimated at USD 31.73 billion in 2023 and expected to reach USD 36.27 billion in 2024, at a CAGR 15.16% to reach USD 85.28 billion by 2030.

The electric mid- and large buses are primarily used for public transportation, including city and intercity travel, and private fleets servicing institutions, airports, and hospitality entities. Stringent environmental regulations with rising favorable government policies and subsidies for adopting electric buses are driving the growth of the electric mid- and large buses market. Growing advancements in battery technology and the rising commitment of public and private sectors towards greener transportation are fueling the market's growth. Additionally, the growing demand for electric buses is propelled by increasing urbanization and the smart city movement. High initial investment costs for electric buses and the required infrastructure hampers the growth of the electric mid- and large buses market. The growing development of ultra-fast charging systems, vehicle-to-grid (V2G) technologies, and autonomous driving features further creates opportunities for the electric mid- and large bus market. Growing development of electric buses with extended range and reduced total cost of ownership, offering significant potential for manufacturers and technology providers.

Regional Insights

The electric mid- & large bus market in the Americas is continuously growing with the rising focus on reducing greenhouse gas emissions and the procurement of electric buses in several cities. Market expansion is bolstered by supportive government policies, such as federal grants and incentives aimed at renewing fleets with electric models. South American countries are also beginning to adopt electric bus technology, with Chile and Colombia showing significant activity. Major manufacturers are investing in the development of electric buses with longer ranges and faster charging capabilities to meet the varied demands of public transit systems and school districts across the continent. The electric mid- & large bus market is rapidly expanding in the Asia-Pacific region with the availability of the government's aggressive policies favoring electric vehicle adoption, coupled with incentives and mandates. Countries such as India, China, Japan, South Korea, and Singapore are gradually implementing electric buses into their transportation networks. Rapid urbanization, environmental concerns, and the push for smart cities in the APAC region continue to drive the adoption of electric buses, making the APAC market a critical area of growth. In Europe, the Middle East, and Africa (EMEA), the electric bus market is characterized by a strong regulatory environment that prioritizes emission reductions and sustainable public transport solutions. The European segment leads the EMEA market, with several countries facilitating market growth through subsidies, grants, and regulatory frameworks. The Middle East and African regions are exhibiting nascent development in the electric bus sector, with growth being primarily driven by economic diversification efforts and the necessity to improve urban air quality.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Electric Mid- & Large Bus Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing adoption of electric vehicles in the commercial vehicle segment
Government support for the electrification of public transport
Implementation of stringent emission norms and environmental regulations

Market Restraints

High cost of development of electric buses

Market Opportunities

Growing introduction of technologically advanced mid and large-electric buses
Rising investment to expand the electric vehicle charging infrastructure

Market Challenges

Range issues with electric buses

Market Segmentation Analysis

Type: Growing usage of fuel cell electric vehicles (FCEVs) for operations where longer-range and quick refueling
Seating Capacity: Rising significance of electric buses with 70 seats and above for long-distance transportation
Application: Increasing demand for electric mid- & large buses for intercity applications for prolonged traveling
End-use: Rising potential of electric mid- and large buses across the public sector, which can integrate with existing public transportation infrastructure

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Electric Mid- & Large Bus Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Electric Mid- & Large Bus Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Higer Unveils 3 Pure Electric Buses at Busworld 2023

Higer introduced three pioneering pure electric bus models. Among the showcased innovations, Higer's Fencer F1 Integral EV stands out as a beacon of its commitment to cutting-edge technology. The convenience of a low-floor design is seamlessly integrated with the capacious interior, ensuring utmost comfort for both the operator and commuters. Furthermore, its environmentally friendly features are designed to optimize energy usage, underscoring Higer's dedication to sustainability and the advancement of green transportation solutions.

BYD Premieres Two New Pure-electric Buses at Busworld 2023

BYD introduced the sophisticated BYD B12 eBus, a 12-meter vehicle heralding a novel integrated chassis innovation designed to enhance European public transport systems. Simultaneously, BYD unveiled the first-of-its-kind BYD-UNVI DD13, a collaboration with UNVI, a prestigious coachwork authority in Europe, offering a 13-meter double-decker electric coach customizable for intercity travel. These two trailblazing entries complement BYD's existing eBus fleet presented at the event—namely the extended-length 18.75-meter BYD eBus B19 and the versatile 15-meter BYD eBus B15, further solidifying BYD's influence in shaping sustainable mass transit.

Lion Electric Celebrates Official Opening of Largest All-Electric U.S. Manufacturing Facility Dedicated to Medium and Heavy-Duty Commercial Vehicle Production

The Lion Electric Company opened its expansive new 900,000 square-foot facility in Joliet, Illinois, the dedicated production site for all-electric medium and heavy-duty commercial vehicles in the United States. Situated within convenient proximity to Chicago, this cutting-edge plant is on track to produce 2,500 zero-emission school buses by the close of 2023. Upon reaching full operational capacity, the Joliet establishment is projected to manufacture an impressive array of up to 20,000 electric vehicles annually, spanning both bus and truck categories.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Electric Mid- & Large Bus Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Electric Mid- & Large Bus Market, highlighting leading vendors and their innovative profiles. These include Anhui Ankai Automobile Co., Ltd., Blue Bird Corporation, BYD Motors Inc., Construcciones y Auxiliar de Ferrocarriles, S.A., CRRC Corporation Limited, Cummins Inc., Eicher Motors Limited, Gillig LLC, GreenPower Motor Company, Lion Electric Company, Mercedes-Benz Group AG, Motiv Power Systems, Inc., NFI Group Inc., Olectra Greentech Limited, Pelican Engineering Co Ltd, Proterra Inc., REV Group Inc., Tata Motors Limited, The Lion Electric Company, Thomas Built Buses Inc., TRANSDEV Group, Traton Group, Volvo Group, Xiamen King Long International Trading Co.,Ltd., and Yutong Buses Co. Ltd..

Market Segmentation & Coverage

This research report categorizes the Electric Mid- & Large Bus Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Battery Electric Vehicle
Fuel Cell Electric Vehicle
Plug-in Hybrid Electric Vehicle
Seating Capacity
70 Seats and Above
Below 70 Seats
Level of Autonomy
Autonomous
Manual
Semi-Autonomous
Application
Intercity
Intracity
End-use
Private
Public
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year