Global Electric Bus Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2022-2026)

The report titled “Global Electric Bus Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2022-2026)”, provides an in depth analysis of the Global electric bus market by value, by propulsion, by region, etc. The report provides a regional analysis of the electric bus market, including China. The report also provides a detailed analysis of the COVID-19 impact on the electric bus market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall electric bus market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global electric bus market is concentrated, with a few key players having a presence in China, while the remaining is fragmented among all other manufacturers. The key players of the Global electric bus market are Volvo Group, BYD Co Ltd., Yutong Bus Co Ltd. and Proterra Inc. are also profiled with their financial information and respective business strategies.

Company Coverage

Volvo Group
BYD Co Ltd.
Yutong Bus Co Ltd.
Proterra Inc.

Executive Summary

The electric bus market can be segmented on the basis of Propulsion Type (Battery Electric Buses, Plug-in Hybrid electric Buses, and Fuel Cell Electric Buses) and Consumer Group (fleet operator, and Government). While most of the industries worldwide suffered a negative impact of COVID-19, the electric bus Market witnessed a mixed impact on it. Initially, the market witnessed a drop in passengers, since people lessen their mobility via public transports worrying to be in contact with COVID-19 virus. In addition to this, the market faced disruption in supply chain which acted as a challenge in manufacturing new buses. However, the market saw an increase in registration as many countries used this sector to impose recovery in their economy. Counties like China, India, and others, issued many regulations to support the electric bus market at full swing.

The Global electric bus market has increased during the years 2017-2021 and projections are made that the market would rise in the next four years i.e. 2022-2026. The Global electric bus market is expected to increase due to the rising concern over carbon dioxide emission, traffic congestion, global emission regulations and tax incentives, rapid urbanization, rise in digitalization, growing fuel cost, and increase tourism, yet the market faces some challenges such as, high maintenance cost, limited battery capacity, etc.