AUTOMOTIVE & TRANSPORTATION
Global Electric Bus Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Electric Bus Market, By Propulsion (BEVs and FCEVs), Battery Type (LFP batteries, NMC batteries, NCA batteries, Other batteries), Consumer (Government and Private), Length of Bus (Up to 9 m, 9−14 m, Above 14 m), Seating Capacity (Up to 40 Seats, 40−70 Seats, Above 70 Seats), Level of Autonomy (Semi-autonomous, Autonomous), Component (Batteries, Motors, Fuel Cell Stacks, Battery Management Systems, Battery Cooling Systems, DC-DC Converters, Inverters, AC/DC Chargers, EV Connectors), Service (Intercity and Intracity), Application (City/ transit bus, Coaches, Midibus, School Bus), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global electric bus market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
An electric bus is a vehicle that runs solely on electric batteries, removing the need for diesel or gasoline engines. These buses offer a quieter and greener option to conventional combustion-engine buses since they employ electric motors to power their wheels. The electric bus market encompasses the manufacturing, selling, and adoption of these vehicles, as well as various areas such as battery types, charging infrastructure, and bus design. The market is expected to develop as a result of government policies encouraging low-emission vehicles, advancements in battery technology, and the growing desire for sustainable transportation options. To increase the effectiveness and range of electric buses and make them a practical choice for urban and intercity transit networks, major participants in the market are investing in cutting-edge technologies.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Government incentives and subsidies for electric vehicle adoption.
- Rising environmental awareness and stricter emissions regulations.
RESTRAINTS
- High initial purchase cost of electric buses.
- Limited availability of charging infrastructure in some regions.
OPPORTUNITIES
- Development of faster and more efficient charging technologies.
- Expansion into emerging markets with growing urbanization.
CHALLENGES
- Infrastructure development and maintenance costs.
- Technological and operational barriers in integrating electric buses into existing fleets.
SEGMENTATION
- Propulsion
- BEVs
- FCEVs
- Battery Type
- LFP batteries
- NMC batteries
- NCA batteries
- Other batteries
- Consumer
- Government
- Private
- Length of Bus
- Up to 9 m
- 9−14 m
- Above 14 m
- Seating Capacity
- Up to 40 Seats
- 40−70 Seats
- Above 70 Seats
- Level of Autonomy
- Semi-autonomous
- Autonomous
- Component
- Batteries
- Motors
- Fuel Cell Stacks
- Battery Management Systems
- Battery Cooling Systems
- DC-DC Converters
- Inverters
- AC/DC Chargers
- EV Connectors
- Service
- Intercity
- Intracity
- Application
- City/ transit bus
- Coaches
- Midibus
- School Bus
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, and key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Anhui Ankai Automobile Co., Ltd
- BYD. Ltd.
- MAN Bus
- NFI Group
- Proterra
- Scania AB
- Solaris Bus & Coach
- VDL Bus & Coach
- Volvo
- Yutong Bus Co. Ltd.
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Electric Bus Market, by Propulsion
- 3.2 Global Electric Bus Market, by Battery Type
- 3.3 Global Electric Bus Market, by Consumer
- 3.4 Global Electric Bus Market, by Length of Bus
- 3.5 Global Electric Bus Market, by Seating Capacity
- 3.6 Global Electric Bus Market, by Level of Autonomy
- 3.7 Global Electric Bus Market, by Component
- 3.8 Global Electric Bus Market, by Service
- 3.9 Global Electric Bus Market, by Application
- 3.10 Global Electric Bus Market, by Geography
- 3.11 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Increasing adoption of electric buses in public transport.
- 5.1.2 Technological advancements in battery and charging infrastructure.
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Government incentives and subsidies for electric vehicle adoption.
- 5.2.2 Rising environmental awareness and stricter emissions regulations.
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High initial purchase cost of electric buses.
- 5.3.2 Limited availability of charging infrastructure in some regions.
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Development of faster and more efficient charging technologies.
- 5.4.2 Expansion into emerging markets with growing urbanization.
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Infrastructure development and maintenance costs.
- 5.5.2 Technological and operational barriers in integrating electric buses into existing fleets.
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL ELECTRIC BUS MARKET, BY PROPULSION
- 6.1 Propulsion Summary
- 6.2 Market Attractive Index
- 6.3 Global Electric Bus Market, by Propulsion (2019-2032)
- SECTION 7 - GLOBAL ELECTRIC BUS MARKET, BY BATTERY TYPE
- 7.1 Battery Type Summary
- 7.2 Market Attractive Index
- 7.3 Global Electric Bus Market, by Battery Type (2019-2032)
- SECTION 8 - GLOBAL ELECTRIC BUS MARKET, BY CONSUMER
- 8.1 Consumer Summary
- 8.2 Market Attractive Index
- 8.3 Global Electric Bus Market, by Consumer (2019-2032)
- SECTION 9 - GLOBAL ELECTRIC BUS MARKET, BY LENGTH OF BUS
- 9.1 Length of Bus Summary
- 9.2 Market Attractive Index
- 9.3 Global Electric Bus Market, by Length of Bus (2019-2032)
- SECTION 10 - GLOBAL ELECTRIC BUS MARKET, BY SEATING CAPACITY
- 10.1 Seating Capacity Summary
- 10.2 Market Attractive Index
- 10.3 Global Electric Bus Market, by Seating Capacity (2019-2032)
- SECTION 11 - GLOBAL ELECTRIC BUS MARKET, BY LEVEL OF AUTONOMY
- 11.1 Level of Autonomy Summary
- 11.2 Market Attractive Index
- 11.3 Global Electric Bus Market, by Level of Autonomy (2019-2032)
- SECTION 12 - GLOBAL ELECTRIC BUS MARKET, BY COMPONENT
- 12.1 Component Summary
- 12.2 Market Attractive Index
- 12.3 Global Electric Bus Market, by Component (2019-2032)
- SECTION 13 - GLOBAL ELECTRIC BUS MARKET, BY SERVICE
- 13.1 Service Summary
- 13.2 Market Attractive Index
- 13.3 Global Electric Bus Market, by Service (2019-2032)
- SECTION 14 - GLOBAL ELECTRIC BUS MARKET, BY APPLICATION
- 14.1 Application Summary
- 14.2 Market Attractive Index
- 14.3 Global Electric Bus Market, by Application (2019-2032)
- SECTION 15 - GLOBAL ELECTRIC BUS MARKET, BY GEOGRAPHY
- 15.1 Regional Summary
- 15.2 Market Attractive Index
- 15.3 Global Electric Bus Market, by Geography (2019-2032)
- SECTION 16 - NORTH AMERICA ELECTRIC BUS MARKET
- 16.1 North America Summary
- 16.2 Market Attractive Index
- 16.3 North America Electric Bus Market, by Propulsion (2019-2032)
- 16.4 North America Electric Bus Market, by Battery Type (2019-2032)
- 16.5 North America Electric Bus Market, by Consumer (2019-2032)
- 16.6 North America Electric Bus Market, by Length of Bus (2019-2032)
- 16.7 North America Electric Bus Market, by Seating Capacity (2019-2032)
- 16.8 North America Electric Bus Market, by Level of Autonomy (2019-2032)
- 16.9 North America Electric Bus Market, by Component (2019-2032)
- 16.10 North America Electric Bus Market, by Service (2019-2032)
- 16.11 North America Electric Bus Market, by Application (2019-2032)
- 16.12 North America Electric Bus Market, by Country (2019-2032)
- 16.12.1 U.S.
- 16.12.2 Canada
- 16.12.3 Mexico
- 16.12.4 Rest of North America
- SECTION 17 - EUROPE ELECTRIC BUS MARKET
- 17.1 Europe Summary
- 17.2 Market Attractive Index
- 17.3 Europe Electric Bus Market, by Propulsion (2019-2032)
- 17.4 Europe Electric Bus Market, by Battery Type (2019-2032)
- 17.5 Europe Electric Bus Market, by Consumer (2019-2032)
- 17.6 Europe Electric Bus Market, by Length of Bus (2019-2032)
- 17.7 Europe Electric Bus Market, by Seating Capacity (2019-2032)
- 17.8 Europe Electric Bus Market, by Level of Autonomy (2019-2032)
- 17.9 Europe Electric Bus Market, by Component (2019-2032)
- 17.10 Europe Electric Bus Market, by Service (2019-2032)
- 17.11 Europe Electric Bus Market, by Application (2019-2032)
- 17.12 Europe Electric Bus Market, by Country (2019-2032)
- 17.12.1 Germany
- 17.12.2 U.K.
- 17.12.3 France
- 17.12.4 Italy
- 17.12.5 Spain
- 17.12.6 Russia
- 17.12.7 The Netherlands
- 17.12.8 Belgium
- 17.12.9 Turkey
- 17.12.10 Rest of Europe
- SECTION 18 - ASIA-PACIFIC ELECTRIC BUS MARKET
- 18.1 Asia-Pacific Summary
- 18.2 Market Attractive Index
- 18.3 Asia-Pacific Electric Bus Market, by Propulsion (2019-2032)
- 18.4 Asia-Pacific Electric Bus Market, by Battery Type (2019-2032)
- 18.5 Asia-Pacific Electric Bus Market, by Consumer (2019-2032)
- 18.6 Asia-Pacific Electric Bus Market, by Length of Bus (2019-2032)
- 18.7 Asia-Pacific Electric Bus Market, by Seating Capacity (2019-2032)
- 18.8 Asia-Pacific Electric Bus Market, by Level of Autonomy (2019-2032)
- 18.9 Asia-Pacific Electric Bus Market, by Component (2019-2032)
- 18.10 Asia-Pacific Electric Bus Market, by Service (2019-2032)
- 18.11 Asia-Pacific Electric Bus Market, by Application (2019-2032)
- 18.12 Asia-Pacific Electric Bus Market, by Country (2019-2032)
- 18.12.1 China
- 18.12.2 India
- 18.12.3 Japan
- 18.12.4 South Korea
- 18.12.5 Singapore
- 18.12.6 Malaysia
- 18.12.7 Australia
- 18.12.8 Thailand
- 18.12.9 Philippines
- 18.12.10 Rest of Asia-Pacific
- SECTION 19 - SOUTH AMERICA ELECTRIC BUS MARKET
- 19.1 South America Summary
- 19.2 Market Attractive Index
- 19.3 South America Electric Bus Market, by Propulsion (2019-2032)
- 19.4 South America Electric Bus Market, by Battery Type (2019-2032)
- 19.5 South America Electric Bus Market, by Consumer (2019-2032)
- 19.6 South America Electric Bus Market, by Length of Bus (2019-2032)
- 19.7 South America Electric Bus Market, by Seating Capacity (2019-2032)
- 19.8 South America Electric Bus Market, by Level of Autonomy (2019-2032)
- 19.9 South America Electric Bus Market, by Component (2019-2032)
- 19.10 South America Electric Bus Market, by Service (2019-2032)
- 19.11 South America Electric Bus Market, by Application (2019-2032)
- 19.12 South America Electric Bus Market, by Country (2019-2032)
- 19.12.1 Brazil
- 19.12.2 Argentina
- 19.12.3 Chile
- 19.12.4 Colombia
- 19.12.5 Rest of South America
- SECTION 20 - MIDDLE EAST AND AFRICA ELECTRIC BUS MARKET
- 20.1 Middle East and Africa Summary
- 20.2 Market Attractive Index
- 20.3 Middle East and Africa Electric Bus Market, by Propulsion (2019-2032)
- 20.4 Middle East and Africa Electric Bus Market, by Battery Type (2019-2032)
- 20.5 Middle East and Africa Electric Bus Market, by Consumer (2019-2032)
- 20.6 Middle East and Africa Electric Bus Market, by Length of Bus (2019-2032)
- 20.7 Middle East and Africa Electric Bus Market, by Seating Capacity (2019-2032)
- 20.8 Middle East and Africa Electric Bus Market, by Level of Autonomy (2019-2032)
- 20.9 Middle East and Africa Electric Bus Market, by Component (2019-2032)
- 20.10 Middle East and Africa Electric Bus Market, by Service (2019-2032)
- 20.11 Middle East and Africa Electric Bus Market, by Application (2019-2032)
- 20.12 Middle East and Africa Electric Bus Market, by Country (2019-2032)
- 20.12.1 Kingdom of Saudi Arabia
- 20.12.2 South Africa
- 20.12.3 U.A.E.
- 20.12.4 Egypt
- 20.12.5 Rest of Middle East and Africa
- SECTION 21 - COMPANY SHARE ANALYSIS
- 21.1 Global Electric Bus Market, Company Share Analysis
- 21.2 North America Electric Bus Market, Company Share Analysis
- 21.3 Europe Electric Bus Market, Company Share Analysis
- 21.4 Asia-Pacific Electric Bus Market, Company Share Analysis
- SECTION 22 - COMPANY PROFILES
- 22.1 Anhui Ankai Automobile Co., Ltd
- 22.1.1 Company Snapshot
- 22.1.2 Financial Overview
- 22.1.3 Product Portfolio
- 22.1.4 Recent Developments
- 22.2 BYD. Ltd.
- 22.2.1 Company Snapshot
- 22.2.2 Financial Overview
- 22.2.3 Product Portfolio
- 22.2.4 Recent Developments
- 22.3 MAN Bus
- 22.3.1 Company Snapshot
- 22.3.2 Financial Overview
- 22.3.3 Product Portfolio
- 22.3.4 Recent Developments
- 22.4 NFI Group
- 22.4.1 Company Snapshot
- 22.4.2 Financial Overview
- 22.4.3 Product Portfolio
- 22.4.4 Recent Developments
- 22.5 Proterra
- 22.5.1 Company Snapshot
- 22.5.2 Financial Overview
- 22.5.3 Product Portfolio
- 22.5.4 Recent Developments
- 22.6 Scania AB
- 22.6.1 Company Snapshot
- 22.6.2 Financial Overview
- 22.6.3 Product Portfolio
- 22.6.4 Recent Developments
- 22.7 Solaris Bus & Coach
- 22.7.1 Company Snapshot
- 22.7.2 Financial Overview
- 22.7.3 Product Portfolio
- 22.7.4 Recent Developments
- 22.8 VDL Bus & Coach
- 22.8.1 Company Snapshot
- 22.8.2 Financial Overview
- 22.8.3 Product Portfolio
- 22.8.4 Recent Developments
- 22.9 Volvo
- 22.9.1 Company Snapshot
- 22.9.2 Financial Overview
- 22.9.3 Product Portfolio
- 22.9.4 Recent Developments
- 22.10 Yutong Bus Co. Ltd.
- 22.10.1 Company Snapshot
- 22.10.2 Financial Overview
- 22.10.3 Product Portfolio
- 22.10.4 Recent Developments
- SECTION 23 - RELATED REPORTS
- SECTION 24 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.