Electric Bus Market: Trends, Opportunities and Competitive Analysis

Electric Bus Market: Trends, Opportunities and Competitive Analysis

Electric Bus Market Trends and Forecast

The future of the global electric bus market looks promising with opportunities in the public and private transportation. The global electric bus market is expected to grow at a CAGR of 17.2% from 2021 to 2027. The major drivers for this market are increasing gasoline prices, government subsidies as tax benefits to promote electric buses, and stringent environmental regulations to reduce air pollution.

Emerging Trends in the Electric Bus Market

Emerging trends, which have a direct impact on the dynamics of the industry, include development of low cost lithium ion batteries and integrated software solutions for better optimization of bus performance.

A total of 152 figures / charts and 115 tables are provided in this 217-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global electric bus market report, please download the report brochure.

Electric Bus Market by Segments

Lucintel forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global electric bus market by vehicle type, battery type, charging infrastructure type, length type, end user, and region, as follows:

Electric Bus Market by Vehicle Type [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

• Battery Electric Bus
• Plug-In Hybrid Electric Bus
• Hybrid Electric Bus

Electric Bus Market by Battery Type [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

• Lithium Iron phosphate (LFP)
• Nickel Manganese Cobalt Oxide (NMC)
• Others

Electric Bus Market by Charging Infrastructure Type [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

• Plug-In
• Conductive
• Inductive

Electric Bus Market by Length [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

• Small Bus (<10 Meter)
• Large Bus ( >10 Meter)

Electric Bus Market by End Use [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

• Public
• Private

Electric Bus Market by Region [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• Russia
• United Kingdom
• Italy
• Asia Pacific
• China
• Japan
• The Rest of the World
• Brazil
• Turkey

List of Electric Bus Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric bus companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric bus companies profiled in this report includes.

• Zhengzhou Yutong Bus
• Zhuhai Yinlong
• Zhongtong
• CRRC
• Nanjing Jinlong
• Volvo
• Solaris
• VDL Bus & Coach
• Proterra
• New Flyer

Electric Bus Market Insights

• Lucintel forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to declining battery prices and government initiatives, such as tax benefits and subsidies to promote electric transportation.
• APAC will remain the largest region due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric bus development. Europe is expected to witness highest growth over the forecast period due to stringent European government regulations which ensures to reduce CO2 emissions by adding more electric buses to its existing fleet.

Features of the Global Electric Bus Market

• Market Size Estimates: Global electric bus market size estimation in terms of value ($M) and volume (units) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Global electric bus market size by various segments, such as by vehicle type, battery type, charging infrastructure type, length type, end user in terms of value and volume.
• Regional Analysis: Global electric bus market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments by vehicle type, battery type, charging infrastructure type, length type, end user, and regions for the global electric bus market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global electric bus market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model

FAQ

Q1. What is the electric bus market size?

Answer: The global electric bus market is expected to reach an estimated $106.5 billion by 2027.

Q2. What is the growth forecast for electric bus market?

Answer: The electric bus market is expected to grow at a CAGR of 17.2% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the electric bus market?

Answer: The major drivers for this market are increasing gasoline prices, government subsidies as tax benefits to promote electric buses, and stringent environmental regulations to reduce air pollution.

Q4. What are the major applications or end use industries for electric bus?

Answer: Lithium iron phosphate (LFP) is the major segment by battery type for Electric bus.

Q5. What are the emerging trends in electric bus market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, development of low cost lithium ion batteries and integrated software solutions for better optimization of bus performance.

Q6. Who are the key electric bus companies?

Answer: Some of the key electric bus companies are as follows:

• Zhengzhou Yutong Bus
• Zhuhai Yinlong
• Zhongtong
• CRRC
• Nanjing Jinlong
• Volvo
• Solaris
• VDL Bus & Coach
• Proterra
• New Flyer

Q7.Which electric bus vehicle segment will be the largest in future?

Answer: Lucintel forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to declining battery prices and government initiatives, such as tax benefits and subsidies to promote electric transportation.
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Q8: In electric bus market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric bus development. Europe is expected to witness highest growth over the forecast period due to stringent European government regulations which ensures to reduce CO2 emissions by adding more electric buses to its existing fleet.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising growth opportunities for the global electric bus market by vehicle type (Plug-in hybrid electric bus, Hybrid electric bus, Battery electric bus), by battery type (Lithium Iron Phosphate, Nickel Manganese Cobalt Oxide (NMC), Others), by charging type (inductive, conductive, and plugin) by length type (<10 Meter and >10Meter), by end-use type (public and private), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which region will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?

Q.5 What are the business risks and competitive threats in this market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are some of the changing demands of customers in the market?

Q.8 What are the new developments in the market and which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?

Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?

Q.11 What M&A activity has occurred in the last five years?

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