Global Electric Bus Market Report and Forecast 2024-2032

Global Electric Bus Market Report and Forecast 2024-2032



Global Electric Bus Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global electric bus market is projected to grow at a CAGR of 13.6% between 2024 and 2032. Aided by the rising demand for sustainable transportation solutions and advancements in electric vehicle (EV) technology, the market is expected to grow significantly by 2032.

Electric buses represent a key segment in the green transportation movement, offering an eco-friendly alternative to traditional diesel buses. They operate using electric motors and are powered by onboard batteries or other electric power sources. This shift towards electric buses is a critical component in the global strategy to reduce greenhouse gas emissions, combat climate change, and improve urban air quality.

The electric bus market growth is fuelled by several factors. Primarily, there is an increasing global commitment to reducing carbon emissions, with many governments implementing policies and providing subsidies to encourage the adoption of electric buses. The heightened environmental awareness among the public and policymakers has also played a pivotal role in this transition.

Technological advancements have significantly reduced the costs of electric buses while improving their range and efficiency. Innovations in battery technology, particularly in terms of energy density and charging speed, have made electric buses more viable for a range of transit applications. The development of fast-charging infrastructure and battery swapping technology has also contributed to easing the transition from diesel to electric buses.

As per the electric bus market analysis, the investments in electric bus manufacturing and infrastructure are on the rise, with both public transportation authorities and private fleet operators recognising the long-term economic and environmental benefits of electric buses. The total cost of ownership for electric buses, which includes purchase price, fuel costs, and maintenance, is increasingly becoming competitive with traditional buses, especially when environmental and health externalities are considered.

Consumer and institutional preference for sustainable transit solutions is another force boosting the electric bus market demand. Municipalities and cities, in particular, are adopting electric buses to meet their sustainability goals and to provide cleaner, quieter, and more efficient public transportation. This trend is further supported by the growing awareness of the health impacts of air pollution, particularly in urban areas.

Market Segmentation

The market can be divided based on propulsion type, length, range, battery capacity, power output, and region.

Market Breakup by Propulsion Type
  • Fuel Cell Electric Vehicle (FCEV)
  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
Market Breakup by Length
  • Less than 9 meters
  • 9-14 meters
  • Above 14 meters
Market Breakup by Range
  • Less than 200 miles
  • More than 200 miles
Market Breakup by Battery Capacity
  • Up to 400 kWh
  • Above 400 kWh
Market Breakup by Power Output
  • Up to 250kW
  • Above 250 kW
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global electric bus market. Some of the major players explored in the report by Expert Market Research are as follows:
  • BYD Motors Inc.
  • Solaris Bus & Coach sp. z o.o
  • Volvo Group
  • Yutong Bus Co., Ltd.
  • VDL Bus & Coach BV
  • Hyundai Motor Company
  • Edison Motors Co., Ltd.
  • Zhongtong Bus Holding Co., Ltd.
  • IVECO S.p.A
  • EvoBus GmbH (Daimler Truck)
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Electric Bus Market Analysis
8.1 Key Industry Highlights
8.2 Global Electric Bus Historical Market (2018-2023)
8.3 Global Electric Bus Market Forecast (2024-2032)
8.4 Global Electric Bus Market by Propulsion Type
8.4.1 Fuel Cell Electric Vehicle (FCEV)
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Battery Electric Vehicle (BEV)
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Plug-in Hybrid Electric Vehicle (PHEV)
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Global Electric Bus Market by Length
8.5.1 Less than 9 meters
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 9-14 meters
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Above 14 meters
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.6 Global Electric Bus Market by Range
8.6.1 Less than 200 miles
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 More than 200 miles
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Electric Bus Market by Battery Capacity
8.7.1 Up to 400 kWh
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Above 400 kWh
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.8 Global Electric Bus Market by Power Output
8.8.1 Up to 250kW
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.2 Above 250 kW
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.9 Global Electric Bus Market by Region
8.9.1 North America
8.9.1.1 Market Share
8.9.1.2 Historical Trend (2018-2023)
8.9.1.3 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Market Share
8.9.2.2 Historical Trend (2018-2023)
8.9.2.3 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Market Share
8.9.3.2 Historical Trend (2018-2023)
8.9.3.3 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Market Share
8.9.4.2 Historical Trend (2018-2023)
8.9.4.3 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Market Share
8.9.5.2 Historical Trend (2018-2023)
8.9.5.3 Forecast Trend (2024-2032)
9 North America Electric Bus Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Electric Bus Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Electric Bus Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Electric Bus Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Electric Bus Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 South Africa
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 BYD Motors Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Solaris Bus & Coach sp. z o.o
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Volvo Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Yutong Bus Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 VDL Bus & Coach BV
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Hyundai Motor Company
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Edison Motors Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Zhongtong Bus Holding Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 IVECO S.p.A
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 EvoBus GmbH (Daimler Truck)
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Bus Market: Key Industry Highlights, 2018 and 2032
2. Global Electric Bus Historical Market: Breakup by Propulsion Type (USD Million), 2018-2023
3. Global Electric Bus Market Forecast: Breakup by Propulsion Type (USD Million), 2024-2032
4. Global Electric Bus Historical Market: Breakup by Length (USD Million), 2018-2023
5. Global Electric Bus Market Forecast: Breakup by Length (USD Million), 2024-2032
6. Global Electric Bus Historical Market: Breakup by Range (USD Million), 2018-2023
7. Global Electric Bus Market Forecast: Breakup by Range (USD Million), 2024-2032
8. Global Electric Bus Historical Market: Breakup by Battery Capacity (USD Million), 2018-2023
9. Global Electric Bus Market Forecast: Breakup by Battery Capacity (USD Million), 2024-2032
10. Global Electric Bus Historical Market: Breakup by Power Output (USD Million), 2018-2023
11. Global Electric Bus Market Forecast: Breakup by Power Output (USD Million), 2024-2032
12. Global Electric Bus Historical Market: Breakup by Region (USD Million), 2018-2023
13. Global Electric Bus Market Forecast: Breakup by Region (USD Million), 2024-2032
14. North America Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2023
15. North America Electric Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Europe Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2023
17. Europe Electric Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Asia Pacific Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2023
19. Asia Pacific Electric Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Latin America Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2023
21. Latin America Electric Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Middle East and Africa Electric Bus Historical Market: Breakup by Country (USD Million), 2018-2023
23. Middle East and Africa Electric Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
24. Global Electric Bus Market Structure

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