Electric Bus Market by Vehicle Type (Battery Electric Bus and Plug-in Hybrid Electric Bus), by End-User (Government and Fleet Operators), by Length (Less than 10 Meters and More than 10 Meters), by Application (Intercity and Intra-city), by region –industry analysis, size, share, growth, trends, and forecasts (2022 to 2027)
Market Overview:
Global electric bus market stood at around $ 47.35 million in 2021 and is predicted to grow at a CAGR of about 38% over the calculated period.
An electrical bus may be a bus that's powered by electricity. Nowadays, electric vehicles are on the increase and still advance as more Americans demand a more efficient and eco-friendly vehicle. Electric buses primarily travel by consuming electricity. Electric buses are mainly operated in two types, namely electric-only and hybrid (electrical energy could also be the first fuel, thus, consuming less petroleum), which may be recharged from a typical wall socket.
With expanding need for controlling GHG (Greenhouse gases) emissions emitted by vehicles, the government is encouraging the utilization of electrical powered vehicles across various states, which is boosting the demand for electric buses. The growth of the electrical bus market has been contributed to the increasing concerns about depletion of fossil fuels and environmental pollution.
Recent Developments:
- Nanyang Technological University, Singapore (NTU Singapore) and Volvo Buses have introduced the world’s first full capacity size, autonomous electric bus. The single-deck Volvo Electric bus is 12 meters long and features a full capacity on the brink of 80 passengers.
- The all new Volvo 7900 Electric is such a lot quite an electrical bus. It’s an enabler, a tool that provides you totally new possibilities to develop your conveyance – and your whole city. The Volvo 7900 Electric can run everywhere. Silent and clean, with no climate emissions, it can go where people actually want to travel.
- Fully electric buses are being employed by Buses Vule and STP Santiago to serve the Santiago public transportation. Yutong's delivery comes due to the Chilean government has announced an eco-friendly urban development policy, part of which incorporates a program to change the current city buses with new-energy vehicles by 2050.
Drivers and Restraints of Electric Bus Market:
Drivers:
The global electric bus market sales are driven by different elements. It is predicted that world has only 50 years of oil left if used in the present manner. As a result, the nations across the globe are turning towards energy sources. Past few years, different government legislations are enforcing clean fuel acts. The move is meant to attenuate pollution which has ill-effects on person as per World Health Organization (WHO), pollution causes approximately 100,000 deaths annually in Europe region, lessening average lifetime of a person's by a year a minimum of. Hence so as to curb the perils of pollution, nations are investing in global electric bus market. Technological developments and implementation of high-end batteries are predicted to lower the EV bus prices by almost 20% by 2025. Other features that add up to demand are high fuel efficiency, higher ROI, and noise efficient compared to standard buses.
Restraints
The price of electrical buses is far higher as compared to their conventional counterparts. The demand for conveyance vehicles has been on the increase with rapid urbanization and increasing population, especially within the developing economies of the planet. Moreover, the selected pricing of electrical buses is bounding their acceptance in these price sensitive countries. The shortage of electrical vehicle (EV) charging infrastructure is additionally hindering the penetration of electric buses within the conveyance system across countries, thereby restraining the expansion of the global electric bus market.
Market Segmentation:
By Vehicle Type:
- Battery Electric Bus
- Plug-in Hybrid Electric Bus
Of these, BEB was the leading category based on volume, accounting for 75% share in 2017. Moreover, the category is predicted to witness considerable growth within the market during the forecast period, due to declining battery prices and therefore the minimum levels of carbon emissions it offers. Plug-in electric buses need a plug-in power source for charging and then combustion engine will improve the motor, which assists in the battery recharge and stores the energy condition. Hybrid electric buses will save energy while braking/decelerating, therefore used in high-intensity tasks.
By Consumer Segment:
- Government
- Fleet Operators
Electric Bus Market Region wise analysis:
Marked Segmentation based on the region:
- North America
- U.S
- Canada
- Europe
- Norway
- Germany
- Sweden
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa
a. Middle East
b. Africa
North America electric bus market is the key region for engaged players in the global business. In 2017, electric bus has registered almost 2.5% of latest transportation system sales in U.S. Over 67% of electrical bus sales are predicted to expand exponentially by 2025. BYD and Proterra calculated for major portion of regional sales. In addition, New Flyer of America recorded excellent sales in last half of 2017 and 2018. New players try to emerge within the market through partnership or mergers and acquisitions as the industry is very consolidated. Sales in North America are going to be primarily driven by rising school electric bus demand.
Of these, the Asia Pacific, dominated by China, registered the best volume sales of those buses in 2017, accounting for quite 95% market share. Further, the region is predicted to continue being the most important market over the calculated period, due to the consolidation and concentration of key players in China. In Asia Pacific, South Korea, India, and Japan are profitable regions for industry market.
Key Players of Market:
Some of the major players in the global electric bus market are AB Volvo, Zhengzhou Yutong Group Co. Ltd., Shenzhen Wuzhoulong Motors Co. Ltd., Daimler AG, BYD Company Limited, King Long United Automotive Industry Co. Ltd., Alexander Dennis Limited, New Flyer Industries Inc., EBUSCO, Solaris Bus & Coach S.A., and Proterra Inc.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Electric Bus Market, By Vehicle Type
6.1.1 Battery Electric Bus
6.1.2 Plug-in Hybrid Electric Bus
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Electric Bus Market, By End-User
6.2.1 Government
6.2.2 Fleet Operators
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Electric Bus Market, By Length
6.3.1 Less than 10 Meters
6.3.2 More than 10 Meters
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Electric Bus Market, By Application
6.4.1 Intercity
6.4.2 Intra-city
6.4.3 Market Size Estimations & Forecasts (2019-2024)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Vehicle Type
7.2.3 By End-User
7.2.4 By Length
7.2.5 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Vehicle Type
7.3.3 By End-User
7.3.4 By Length
7.3.5 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Vehicle Type
7.4.3 By End-User
7.4.4 By Length
7.4.5 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Vehicle Type
7.5.3 By End-User
7.5.4 By Length
7.5.5 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Vehicle Type
7.6.3 By End-User
7.6.4 By Length
7.6.5 By Application
8. Key Player Analysis
8.1 AB Volvo
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Diamler AG
8.3 Zhengzhou Yutong
8.4 Proterra Inc
8.5 EBUSCO
8.6 Ashok Leyland
8.7 VDL Groep
8.8 Iveco Bus
8.9 Solaris Bus & Coach S.A
8.10 Anhui Ankai Automobile Co. Ltd
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
- Global Electric Bus Market By Region, From 2022 - 2027 ( USD Billion )
- Global Electric Bus Market By Vehicle Type, From 2022 - 2027 ( USD Billion )
- Global Battery Electric Bus Market By Region, From 2022 - 2027 ( USD Billion )
- Global Plug-in Hybrid Electric Bus Market By Region, From 2022 - 2027 ( USD Billion )
- Global Electric Bus Market By End-User, From 2022 - 2027 ( USD Billion )
- Global Government Market By Region, From 2022 - 2027 ( USD Billion )
- Global Fleet Operators Market By Region, From 2022 - 2027 ( USD Billion )
- Global Electric Bus Market By Length, From 2022 - 2027 ( USD Billion )
- Global Less than 10 Meters Market By Region, From 2022 - 2027 ( USD Billion )
- Global More than 10 Meters Market By Region, From 2022 - 2027 ( USD Billion )
- Global Electric Bus Market By Application, From 2022 - 2027 ( USD Billion )
- Global Intercity Market By Region, From 2022 - 2027 ( USD Billion )
- Global Intra-city Market By Region, From 2022 - 2027 ( USD Billion )
ASK FOR CUSTOMIZATION
Talk to our analyst and get customised report done according to your research needs
INQUIRE FOR DISCOUNT
Check if you can avail any discount. Submit your details and our team will get back to you.
DOWNLOAD FREE SAMPLE
Request to avail a free sample report that reflects this market and its growth.
