Electric Bus Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	200 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185551

Best Price Guarantee
Price	from $4,850
Length	200 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185551

Electric Bus Market

Growth Factors of Electric Bus Market

The electric bus market size was valued at USD 246,089 units in 2023, and the market is now projected to grow from USD 279,236 Units in 2024 to USD 1,064,250 units by 2032, exhibiting a CAGR of 18.2% during the forecast period of 2024-2032.

The COVID-19 pandemic greatly influenced emerging technologies for electric buses so that the need for cleaner and smarter transport systems became unanimous. Electric bus development with the reduction of pollution as well as improvement of public health was the main goal to which governments as well as the companies involved committed a lot of resources to. Some of the advantages of electric buses which were revealed by the pandemic disruption of traditional public transport included reduced environmental effects and operational costs. Therefore, this shift had an added advantage not only on the advancement of public health strategies, but also on the advancements of green technologies in the transportation sector.

Some of the trends that have emerged with electric buses are development in batteries that have made range to go up and charging time to go down. There is increased deployment of ultra-fast charging facilities which enables shorter interval of charging and therefore more effective use of fleets. The adaptation of smart technology like IoT is helping to improve operation management and safety whether it be with real time data or even robot driving. Furthermore, cities are increasing promotion and legislation in relation to the use of electric buses in an attempt to meet climate measures and reduce bad air quality. All of these trends depolarize the playing field and enhance the adoption of electric buses in urban transport systems. Thus, all the above mentioned factors are contributing towards the electric bus market growth.

Another driving force that can be observed for electric buses is agreements and policies implemented by the government regarding incentives together with stringent emissions controls for urban areas. Battery technology has been developed to allow for increased range and efficiency which makes it easier for electric buses to being used on a daily basis. This coupled with the rapidly declining cost of renewable energy on the charging infrastructure make it convenient to go for electric fleets. Furthermore, increased interest and desire to use environmentally friendly transportation systems are a leading factor for electric buses funding. All these factors put together, add to the increasing utilization of electric buses while boosting the environmental advantage, and reducing operation costs.

Comprehensive Analysis Electric Bus Market

EVs are available in different categories that we have; BEVs that use electricity to power; PHEVs that integrate electric power and traditional gasoline engines while extending their range of power; and FCEVs that employ hydrogen fuel cells to generate electric power. Its range is different; some of them have a battery capacity of less than 200 miles while others have a battery capacity of over 200 miles per charge. The energy storing capacity also varies with shorter range new energy vehicles possessing energy storing capacity of about 400kWh while new energy vehicles with longer range possess more than 400kWh energies staying capacity.

The global electric bus market share is primarily dominated by Asia-Pacific because of the strong government policies, increased investment and rapid urbanization. Out of these countries China has been crucial mainly because of its ongoing drive for green mobility and large-scale deployment of electric buses. This focus is evident from the demand for cleaner air through promotion of green energy and development of proper transport networks that boost the market even further in the region. Also, conscious and liberalization patent and supportive regulations in various countries such as Japan and South Korea enhance the general advancement of the electric bus in the Asia-Pacific region.

Key players in this sector include BYD Co., Ltd (Shenzhen, China), Proterra, Inc. (Burlingame, California, U.S.), AB Volvo (Gothenburg, Sweden), New Flyer Industries (Winnipeg, Canada), Daimler AG (Stuttgart, Germany), Scania AB (Södertälje, Sweden), Iveco (Turin, Italy), Yutong (Zhengzhou, China)

Looking ahead at 2023 in the demand for electric buses a new development will occur in the solid state high density battery. These batteries represent a much better solution than the conventional lithium-ion batteries in terms of energy storage and safety. They make it possible for electric buses to operate for longer distances between charging and at the same time avoid overheating and improving on the reliability. It resolves one of the most serious issues related to electrically powered cars as well as provides more efficient and environmentally friendly answers for urban transit systems, proving to be a phenomenal development in the sphere of electric automobile industry.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 18.2% (2024-2032)

Unit Volume (thousand units)

Segmentation By Propulsion Type

- Battery Electric Vehicle (BEV)

- Plug-in Hybrid Electric Vehicle (PHEV)

- Fuel Cell Electric Vehicle (FCEV)

By Range

- Less than 200 Miles

- More than 200 Miles

By Battery Capacity

- Up to 400 kWh

- Above 400 kWh

By Geography

- North America (By Propulsion Type, By Range, By Battery Capacity)

U.S. (By Propulsion Type, By Range, By Battery Capacity)
Canada (By Propulsion Type, By Range, By Battery Capacity)
Mexico (By Propulsion Type, By Range, By Battery Capacity)

- Europe (By Propulsion Type, By Range, By Battery Capacity)

U.K. (By Propulsion Type, By Range, By Battery Capacity)
Germany (By Propulsion Type, By Range, By Battery Capacity)
France (By Propulsion Type, By Range, By Battery Capacity)
Netherlands (By Propulsion Type, By Range, By Battery Capacity)
Rest of Europe (By Propulsion Type, By Range, By Battery Capacity)

- Asia Pacific (By Propulsion Type, By Range, By Battery Capacity)

Japan (By Propulsion Type, By Range, By Battery Capacity)
China (By Propulsion Type, By Range, By Battery Capacity)
India (By Propulsion Type, By Range, By Battery Capacity)
South Korea (By Propulsion Type, By Range, By Battery Capacity)
Rest of Asia Pacific (By Propulsion Type, By Range, By Battery Capacity)

- Rest of the World (By Propulsion Type, By Range, By Battery Capacity)

Please Note: It will take 5-6 business days to complete the report upon order confirmation.

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Industry Developments – Mergers, Acquisitions and Partnerships; 4.2. Growth and Penetration Analysis; 4.3. Porter’s Five Forces Analysis; 4.4. SWOT Analysis; 4.5. Technological Developments; 4.6. Impact of COVID-19
5. Global Electric Bus Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Analysis, Insights and Forecast – By Propulsion Type; 5.2.1. Battery Electric Vehicle (BEV); 5.2.2. Plug-in Hybrid Electric Vehicle (PHEV); 5.2.3. Fuel Cell Electric Vehicle (FCEV); 5.3. Market Analysis, Insights and Forecast – By Range; 5.3.1. Less than 200 miles; 5.3.2. More than 200 miles; 5.4. Market Analysis, Insights and Forecast – By Battery Capacity; 5.4.1. Up to 400 kWh; 5.4.2. Above 400 kWh; 5.5. Market Analysis, Insights and Forecast – By Region; 5.5.1. North America; 5.5.2. Europe; 5.5.3. Asia Pacific; 5.5.4. Rest of the World
6. North America Electric Bus Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis – By Propulsion Type; 6.2.1. Battery Electric Vehicle (BEV); 6.2.2. Plug-in Hybrid Electric Vehicle (PHEV); 6.2.3. Fuel Cell Electric Vehicle (FCEV); 6.3. Market Analysis – By Range; 6.3.1. Less than 200 miles; 6.3.2. More than 200 miles; 6.4. Market Analysis, Insights and Forecast – By Battery Capacity; 6.4.1. Up to 400 kWh; 6.4.2. Above 400 kWh; 6.5. Market Analysis – By Country; 6.5.1. U.S.; 6.5.1.1. By Propulsion Type; 6.5.1.2. By Range; 6.5.1.3. By Battery Capacity; 6.5.2. Canada; 6.5.2.1. By Propulsion Type; 6.5.2.2. By Range; 6.5.2.3. By Battery Capacity; 6.5.3. Mexico; 6.5.3.1. By Propulsion Type; 6.5.3.2. By Range; 6.5.3.3. By Battery Capacity
7. Europe Electric Bus Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis – By Propulsion Type; 7.2.1. Battery Electric Vehicle (BEV); 7.2.2. Plug-in Hybrid Electric Vehicle (PHEV); 7.2.3. Fuel Cell Electric Vehicle (FCEV); 7.3. Market Analysis – By Range; 7.3.1. Less than 200 miles; 7.3.2. More than 200 miles; 7.4. Market Analysis, Insights and Forecast – By Battery Capacity; 7.4.1. Up to 400 kWh; 7.4.2. Above 400 kWh; 7.5. Market Analysis – By Country; 7.5.1. U.K.; 7.5.1.1. By Propulsion Type; 7.5.1.2. By Range; 7.5.1.3. By Battery Capacity; 7.5.2. Germany; 7.5.2.1. By Propulsion Type; 7.5.2.2. By Range; 7.5.2.3. By Battery Capacity; 7.5.3. France; 7.5.3.1. By Propulsion Type; 7.5.3.2. By Range; 7.5.3.3. By Battery Capacity; 7.5.4. Netherlands; 7.5.4.1. By Propulsion Type; 7.5.4.2. By Range; 7.5.4.3. By Battery Capacity; 7.5.5. Rest of Europe; 7.5.5.1. By Propulsion Type; 7.5.5.2. By Range; 7.5.5.3. By Battery Capacity
8. Asia Pacific Electric Bus Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis – By Propulsion Type; 8.2.1. Battery Electric Vehicle (BEV); 8.2.2. Plug-in Hybrid Electric Vehicle (PHEV); 8.2.3. Fuel Cell Electric Vehicle (FCEV); 8.3. Market Analysis – By Range; 8.3.1. Less than 200 miles; 8.3.2. More than 200 miles; 8.4. Market Analysis, Insights and Forecast – By Battery Capacity; 8.4.1. Up to 400 kWh; 8.4.2. Above 400 kWh; 8.5. Market Analysis – By Country; 8.5.1. China; 8.5.1.1. By Propulsion Type; 8.5.1.2. By Range; 8.5.1.3. By Battery Capacity; 8.5.2. Japan; 8.5.2.1. By Propulsion Type; 8.5.2.2. By Range; 8.5.2.3. By Battery Capacity; 8.5.3. India; 8.5.3.1. By Propulsion Type; 8.5.3.2. By Range; 8.5.3.3. By Battery Capacity; 8.5.4. South Korea; 8.5.4.1. By Propulsion Type; 8.5.4.2. By Range; 8.5.4.3. By Battery Capacity; 8.5.5. Rest of Asia Pacific; 8.5.5.1. By Propulsion Type; 8.5.5.2. By Range; 8.5.5.3. By Battery Capacity
9. Rest of the World Electric Bus Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis – By Propulsion Type; 9.2.1. Battery Electric Vehicle (BEV); 9.2.2. Plug-in Hybrid Electric Vehicle (PHEV); 9.2.3. Fuel Cell Electric Vehicle (FCEV); 9.3. Market Analysis – By Range; 9.3.1. Less than 200 miles; 9.3.2. More than 200 miles; 9.4. Market Analysis, Insights and Forecast – By Battery Capacity; 9.4.1. Up to 400 kWh; 9.4.2. Above 400 kWh
10. Competitive Analysis: 10.1. Key Industry Developments; 10.2. Global Market Ranking Analysis (2023); 10.3. Competition Dashboard; 10.4. Comparative Analysis – Major Players; 10.5. Company Profiles; 10.5.1. BYD Co., Ltd (Shenzen, China); 10.5.1.1. Overview; 10.5.1.2. Products & services; 10.5.1.3. SWOT Analysis; 10.5.1.4. Recent Developments; 10.5.1.5. Strategies; 10.5.1.6. Financials (Based on Availability); 10.5.2. Proterra, Inc. (Burlingame, California, United States); 10.5.2.1. Overview; 10.5.2.2. Products & services; 10.5.2.3. SWOT Analysis; 10.5.2.4. Recent Developments; 10.5.2.5. Strategies; 10.5.2.6. Financials (Based on Availability); 10.5.3. AB Volvo (Gothenburg, Sweden); 10.5.3.1. Overview; 10.5.3.2. Products & services; 10.5.3.3. SWOT Analysis; 10.5.3.4. Recent Developments; 10.5.3.5. Strategies; 10.5.3.6. Financials (Based on Availability); 10.5.4. New Flyer Industries (Winnipeg, Canada); 10.5.4.1. Overview; 10.5.4.2. Products & services; 10.5.4.3. SWOT Analysis; 10.5.4.4. Recent Developments; 10.5.4.5. Strategies; 10.5.4.6. Financials (Based on Availability); 10.5.5. Daimler AG (Stuttgart, Germany); 10.5.5.1. Overview; 10.5.5.2. Products & services; 10.5.5.3. SWOT Analysis; 10.5.5.4. Recent Developments; 10.5.5.5. Strategies; 10.5.5.6. Financials (Based on Availability); 10.5.6. Scania AB (Södertälje, Sweden); 10.5.6.1. Overview; 10.5.6.2. Products & services; 10.5.6.3. SWOT Analysis; 10.5.6.4. Recent Developments; 10.5.6.5. Strategies; 10.5.6.6. Financials (Based on Availability); 10.5.7. Iveco (Turin, Italy); 10.5.7.1. Overview; 10.5.7.2. Products & services; 10.5.7.3. SWOT Analysis; 10.5.7.4. Recent Developments; 10.5.7.5. Strategies; 10.5.7.6. Financials (Based on Availability); 10.5.8. Yutong (Zhengzhou, China); 10.5.8.1. Overview; 10.5.8.2. Products & services; 10.5.8.3. SWOT Analysis; 10.5.8.4. Recent Developments; 10.5.8.5. Strategies; 10.5.8.6. Financials (Based on Availability); 10.5.9. Ebusco (Deurne, Netherlands); 10.5.9.1. Overview; 10.5.9.2. Products & services; 10.5.9.3. SWOT Analysis; 10.5.9.4. Recent Developments; 10.5.9.5. Strategies; 10.5.9.6. Financials (Based on Availability); 10.5.10. Xiamen King Long United Automotive Industry Co., Ltd. (Fujian, China); 10.5.10.1. Overview; 10.5.10.2. Products & services; 10.5.10.3. SWOT Analysis; 10.5.10.4. Recent Developments; 10.5.10.5. Strategies; 10.5.10.6. Financials (Based on Availability); 10.5.11. VDL Groep bv (Eindhoven, Netherlands); 10.5.11.1. Overview; 10.5.11.2. Products & services; 10.5.11.3. SWOT Analysis; 10.5.11.4. Recent Developments; 10.5.11.5. Strategies; 10.5.11.6. Financials (Based on Availability)