US Electric Bus Market 2022-2028

US Electric Bus Market 2022-2028

The US electric bus market is estimated to grow at a considerable CAGR during the forecast period. The availability of government and private funding for the deployment of electric buses in the country is among the key factors to drive the growth of the electric bus market in the US. The US Federal Transit Administration (FTA) had offered several grants for the purchase of electric buses. For instance, in 2021, the Low or No Emission Grant program awarded grants of nearly $85 million to over 50 state and local governments to promote the adoption of electric buses. According to the Environmental Protection Agency data (EPA), in June 2021, the transportation sector was the largest contributor to greenhouse gas emissions in the US, responsible for nearly 30% of total emissions across the country. The rising adoption of electric buses can result in the elimination of greenhouse gases, therefore the rising concerns related to the environment are further promoting the adoption of electric buses, which in turn, is promoting its market growth.

The market is segmented on the basis of bus type, battery type, and end-user. Based on the bus type, the market is sub-segmented into the hybrid electric bus, fuel cell electric bus, and battery-electric bus. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries. Based on the end-user, the market is sub-segmented into government and fleet-owner.

Proterra Inc., BYD co. Ltd., COBUS Industries GmbH, Cummins Inc, and GILLIG LLC among others are the key players operating in the US electric bus market. These players are actively involved in new product launches in order to stay competitive in the market. For instance, in May 2021, GILLIG LLC and Cummins Inc. introduced the GILLIG battery-electric bus in the US market. The electric bus incorporates Cummins Inc.’s electrified powertrain and includes standard 444 kWh batteries and supports charging interoperability.

Market Segmentation

1. US Electric Bus Market Research and Analysis by Bus type

2. US Electric Bus Market Research and Analysis by Battery Type

3. US Electric Bus Market Research and Analysis by End-User

The Report Covers

Comprehensive research methodology of the US Electric Bus market.

This report also includes a detailed and extensive market overview with key analyst insights.

An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.

Analysis of regional regulations and other government policies impacting the US Electric Bus market.

Insights about market determinants which are stimulating the US Electric Bus market.

Detailed and extensive market segments with regional distribution of forecasted revenues.

Extensive profiles and recent developments of market players.