Global Electric Bus Market Analysis by Type, Consumer, application, Bus Type, Vehicle Range, Battery Capacity, Battery Type, Component, Seating Capacity, Level Of Autonomy, Region and segments forecast till 2033
Market Overview
Electric Bus Market valued at USD 44,000 million in 2022 is expected to reach a value of USD 94,320 million in 2033, growing at a CAGR of 10%.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 44,000 Million |
Market Forecast in 2033 | USD 94,320 Million |
CAGR % 2023-2033 | 10% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type, Consumer, application, Bus Type, Vehicle Range, Battery Capacity, Battery Type, Component, Seating Capacity, Level Of Autonomy |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | AB Volvo, Ankai Bus, BYD Company Ltd., Construcciones y Auxiliar de Ferrocarriles, S.A., Daimler AG, NFI Group Inc., Proterra, VDL GROEP BV, Yutong Group, Zhongtong Bus Holdings Co., Ltd. |
An electric bus or e-bus is a bus that does not have a traditional ICE engine for its propulsion and is completely electric. E-bus is driven by an onboard electric motor that receives power from onboard batteries or a set of batteries. Electric buses are considered as eco-friendly as they do not produce any pollutants and are also economical when compared with traditional gasoline or diesel buses. With the advent of the COVID-19 pandemic across the globe, the electric bus market has been affected as the e-bus manufacturing units have been shut down due to the imposed lockdown in major countries across the globe.
Also, the unavailability of skilled labor has affected market growth. Electric buses emit zero or low emissions as compared to conventional buses that are powered by diesel or gasoline engines, supporting the industry trend. A significant focus of various countries on the promotion of electric transit solutions will improve the market statistics. The electric bus market is thrived by factors such as an increase in demand for fuel-efficient, high-performance, and low-emission buses, strict government rules & regulations towards vehicle emission, and reduction in battery prices. However, high manufacturing costs and low fuel economy & serviceability restrict the market growth.
Also, technological advancements and proactive government initiatives for the adoption of e-buses create lucrative growth opportunities for the market. Rapid urbanization, rising oil prices, rising air pollution, government efforts, and lowering battery prices all contributed to the worldwide electric bus market's growth. However, high development costs, limited battery capacity, and the rising popularity of natural gas-fuelled buses are projected to limit market expansion.
Gasoline being a fossil fuel is not a renewable source of energy, and is expected to be exhausted in the future. To back-up sustainable development, it is important to develop and use substitutional sources of fuel. This involves the use of electric buses, which do not use gas and are more economical than conventional buses. An electric bus converts over 50% of the electrical energy from the grid to power at the wheels, whereas the gas-powered bus only manages to convert about 17%–21% of the energy stored in gasoline.
The conventional gas-powered vehicle makes use of an internal combustion engine to enkindle power. In an ideal scenario, the combustion system fully incinerates the fuel and only creates carbon dioxide and water as waste, however, the combustion system generates various greenhouse gases, leading to environmental pollution. On the contrary, an electric bus uses an electric motor powered by a continuous supply of current and does not create any pollutants.
Type Insights
The Battery Electric Vehicle (BEV) type electric bus segment is a rapidly growing sector in the transportation industry. These buses are powered by electric motors that run on battery packs, eliminating the need for traditional fossil fuels. BEV electric buses are not only eco-friendly, but they also provide a quieter, smoother ride, and require less maintenance compared to traditional diesel-powered buses.
Consumer Insights
The private consumer electric bus segment refers to the market for electric buses intended for personal use, such as by individuals, families, or small groups, as opposed to larger buses used by public transportation services. This segment is emerging as a promising area for the electric vehicle industry, as electric buses offer a cleaner, quieter, and more efficient alternative to traditional diesel or gasoline-powered buses.
Application Insights
The intercity electric bus segment refers to the market for electric buses that are designed for long-distance travel between cities. These buses typically have larger battery packs and longer driving ranges than electric buses designed for urban or suburban routes. In recent years, the intercity electric bus segment has been gaining traction as more governments and transportation companies look to reduce emissions and improve air quality on long-haul bus routes. Some manufacturers have also developed intercity electric buses that can be charged quickly using high-powered charging stations, allowing them to be used on routes that require frequent stops and shorter charging times.
Bus Type Insights
The 9–14 m segment is projected to be the largest market during the forecast in terms of volume. The 9–14 m segment is dominating the electric bus segment due to the large volumes of electric passenger buses used in the public transport fleet. Most of the public transport fleets, especially in China, which accounts for almost 99% of the market, have electric buses that are 9–14 m in length.
Vehicle Range Insights
The electric bus segment for distances less than 200 miles is becoming increasingly popular. Electric buses are particularly well-suited for this distance range because they can provide cost savings and environmental benefits, especially in urban areas. With advancements in battery technology and charging infrastructure, electric buses are now more practical than ever before for shorter routes.
Battery Capacity Insights
The up to 400 kWh electric bus segment refers to a category of electric buses that have battery capacities of up to 400 kilowatt-hours (kWh). These buses are designed to provide long-range capabilities and can travel up to hundreds of kilometers on a single charge. They are typically used for public transportation in urban and suburban areas, as well as for intercity travel. The up to 400 kWh electric bus segment is part of the larger electric bus market, which is expected to continue growing in the coming years as governments and transit agencies seek to reduce emissions and transition to cleaner, more sustainable transportation options.
Battery Type Insights
The Lithium-Nickel-Manganese-Cobalt-Oxide (NMC) battery type is a popular choice for electric buses due to its high energy density, good power performance, and long cycle life.
Component Insights
Motor component is anticipated to witness a significant growth as the electric motor is the heart of an electric bus. It uses electricity from the battery pack to create motion, turning the wheels of the bus.
Seating Capacity Insights
The growth of up to 40 seat capacity electric buses has been increasing in recent years due to several factors. One of the main drivers is the increasing demand for sustainable transportation options that are both environmentally friendly and cost-effective.
Level Of Autonomy Insights
The growth of semi-autonomous electric buses is a trend that is gaining momentum in the public transportation industry. Semi-autonomous buses are vehicles that are capable of performing certain tasks, such as driving in a straight line, stopping and starting, and maintaining a safe distance from other vehicles, with minimal human input.
Regional Insights
The market for the global electric bus is further segmented into five major countries; North America, Europe, Asia-pacific, and LAMEA. The electric bus market in the Asia Pacific is driven by the need to reduce urban pollution and dependency on fossil fuels coupled with growing initiatives by national governments toward clean public transportation. Chinese companies such as BYD, Yutong, Ankai, and Zhongtong are dominating the Chinese as well as global electric bus markets. These players have managed to develop and provide a wide range of electric bus models at lower prices due to the availability of parts and components at cheaper rates.
Competitive Analysis
AB Volvo, Ankai Bus, BYD Company Ltd., Construcciones y Auxiliar de Ferrocarriles, S.A., Daimler AG, NFI Group Inc., Proterra, VDL GROEP BV, Yutong Group, Zhongtong Bus Holdings Co., Ltd.
Global Electric Bus Market- Segmental Analysis
Based On Type:
• BEV
• PHEV
• FCEV
Based On Consumer Segment:
• Private
• Government
Based On Application:
• Intercity
• Intracity
Based On Bus Type:
• Less than 9 m
• 9-14 m
• Above 14 m
Based On Vehicle Range:
• Less than 200 miles
• Above 200 miles
Based On Battery Capacity:
• Up to 400 kWh
• Above 400 kWh
Based On Battery Type:
• Lithium- Nickle-Manganese-Cobalt-oxide
• Lithium-Iron-Phosphate
• Others
Based On Component:
• Motor
• Battery
• Fuel Cell Stack
• Battery Management System
• Battery Cooling System
• EV Connectors
Based On Seating Capacity:
• Up to 40 Seats
• 40-70 Seats
• Above 70 Seats
Based On Level Of Autonomy:
• Semi-autonomous
• Autonomous
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Electric Bus Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Electric Bus Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Card Type/Card Type
• Company Share Analysis by Product/Specification
1.  Â
Global Electric Bus Market Introduction
and Market Overview
1.1. Objectives
of the Study
1.2. Electric Bus Market  Definition & Description
1.3. Global
Electric Bus Market Scope and Market Estimation
1.3.1.    Global
Electric Bus Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023-2033)
1.3.2.    Global
Electric Bus Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033
1.4. Market
Segmentation
1.4.1.    Type
of Global Electric Bus Market
1.4.2.    Consumer
Segment of Global Electric Bus Market
1.4.3.    Application
of Global Electric Bus Market
1.4.4.    Bus
Type of Global Electric Bus Market
1.4.5.    Vehicle
Range of Global Electric Bus Market
1.4.6.    Battery
Capacity of Global Electric Bus Market
1.4.7.    Battery
Type of Global Electric Bus Market
1.4.8.    Component
of Global Electric Bus Market
1.4.9.    Setting
Capacity of Global Electric Bus Market
1.4.10. Level
Of Autonomy of Global Electric Bus Market
1.4.11. Region
of Global Electric Bus Market
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2.  Â
Executive
Summary
2.1. Global
Electric Bus Market Industry
Trends under COVID-19 Outbreak
2.1.1.    Global
COVID-19 Status Overview
2.1.2.    Influence
of COVID-19 Outbreak on Global Electric
Bus Market Industry Development
2.2. Market
Dynamics
2.2.1.    Drivers
2.2.2.    Limitations
2.2.3.    Opportunities
2.2.4.    Impact
Analysis of Drivers and Restraints
2.3. Pricing
Trends Analysis & Average Selling Prices (ASPs)
2.4. Key
Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s
Five Forces Analysis
2.5.1.    Bargaining
Power of Suppliers
2.5.2.    Bargaining
Power of Buyers
2.5.3.    Threat
of Substitutes
2.5.4.    Threat
of New Entrants
2.5.5.    Competitive
Rivalry
2.6. Value Chain
/ Ecosystem Analysis
2.7. PEST
Analysis
2.8. Russia-Ukraine
War Impacts Analysis
2.9. Economic
Downturn Analysis
2.10. Market
Investment Opportunity Analysis (Top Investment Pockets), By Segments & By
Region
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3.  Â
Global
Electric Bus Market  Estimates &
Historical Trend Analysis (2020 - 2022)
Â
4.  Â
Global
Electric Bus Market  Estimates & Forecast Trend Analysis, by Product Type
4.1. Global
Electric Bus Market Revenue (US$ Mn) Estimates and Forecasts, by Product Type, 2023
to 2033
4.1.1.    BEV
4.1.2.    PHEV
4.1.3.    FCEV
Â
5.  Â
Global
Electric Bus Market  Estimates &
Forecast Trend Analysis, By
Segment
5.1. Global
Electric Bus Market Revenue (US$ Mn) Estimates and Forecasts, By Segment, 2023
to 2033
5.1.1.    Private
5.1.2.    Government
Â
6.  Â
Global
Electric Bus Market  Estimates &
Forecast Trend Analysis, By
Application
6.1. Global
Electric Bus Market Revenue (US$ Mn) Estimates and Forecasts, By Application, 2023
to 2033
6.1.1.    Intercity
6.1.2.    Intracity
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7.  Â
Global
Electric Bus Market  Estimates &
Forecast Trend Analysis, By Bus
Type
7.1. Global
Electric Bus Market Revenue (US$ Mn) Estimates and Forecasts, By Bus Type, 2023
to 2033
7.1.1.    Less
than 9 m
7.1.2.    9-14 m
7.1.3.    Above
14 m
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8.  Â
Global
Electric Bus Market  Estimates &
Forecast Trend Analysis, By
Vehicle Range
8.1. Global
Electric Bus Market Revenue (US$ Mn) Estimates and Forecasts, By Vehicle Range,
2023 to 2033
8.1.1.    Less
than 200 miles
8.1.2.    Above
200 miles
Â
9.  Â
Global
Electric Bus Market  Estimates &
Forecast Trend Analysis, By
Battery Capacity
9.1. Global
Electric Bus Market Revenue (US$ Mn) Estimates and Forecasts, By Battery
Capacity, 2023 to 2033
9.1.1.    Up to
400 kWh
9.1.2.    Above
400 kWh
Â
10. Global Electric Bus Market  Estimates & Forecast Trend Analysis, By Battery Type
10.1.            Â
Global Electric Bus Market Revenue (US$ Mn) Estimates
and Forecasts, By Battery Type, 2023 to 2033
10.1.1. Lithium-
Nickle-Manganese-Cobalt-oxide
10.1.2. Lithium-Iron-Phosphate
10.1.3. Others
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11. Global Electric Bus Market  Estimates & Forecast Trend Analysis, By Component
11.1.            Â
Global Electric Bus Market Revenue (US$ Mn) Estimates
and Forecasts, By Component, 2023 to 2033
11.1.1. Motor
11.1.2. Battery
11.1.3. Fuel
Cell Stack
11.1.4. Battery
Management System
11.1.5. Battery
Cooling System
11.1.6. EV
Connectors
Â
12. Global Electric Bus Market  Estimates & Forecast Trend Analysis, By Seating Capacity
12.1.            Â
Global Electric Bus Market Revenue (US$ Mn) Estimates
and Forecasts, By Seating Capacity, 2023 to 2033
12.1.1. Up to
40 Seats
12.1.2. 40-70
Seats
12.1.3. Above
70 Seats
Â
13. Global Electric Bus Market  Estimates & Forecast Trend Analysis, By Level Of Autonomy
13.1.            Â
Global Electric Bus Market Revenue (US$ Mn) Estimates
and Forecasts, By Level Of Autonomy, 2023 to 2033
13.1.1. Semi-autonomous
13.1.2. Autonomous
Â
Â
14. Global Electric Bus Market  Estimates & Forecast Trend Analysis, by Region
14.1.            Â
Global Electric Bus Market Revenue (US$ Mn) Estimates
and Forecasts, by Region, 2023 to 2033
14.1.1. North
America
14.1.2. Europe
14.1.3. Asia
Pacific
14.1.4. Middle
East & Africa
14.1.5. South
America
Â
15. North
America  Electric
Bus Market: Estimates & Forecast
Trend Analysis
15.1.  Â
North America Electric Bus Market Assessments
& Key Findings
15.1.1. North
America Electric Bus Market Introduction
15.1.2. North
America Electric Bus Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
15.1.2.1. Based On Type
15.1.2.2. Based On Consumer Segment
15.1.2.3. Based On Application
15.1.2.4. Based On Bus Type
15.1.2.5. Based On Vehicle Range
15.1.2.6. Based On Battery Capacity
15.1.2.7. Based On Battery Type
15.1.2.8. Based On Component
15.1.2.9. Based On Seating Capacity
15.1.2.10.  Â
Based
On Level Of Autonomy
15.1.2.11.   By
Country
15.1.2.11.1.      Â
The U.S.
15.1.2.11.2.      Â
Canada
15.1.2.11.3.      Â
Mexico
Â
16. Europe
 Electric
Bus Market: Estimates & Forecast
Trend Analysis
16.1. Europe
Electric Bus Market Assessments & Key Findings
16.1.1. Europe
Electric Bus Market Introduction
16.1.2. Europe
Electric Bus Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
16.1.2.1. Based On Type
16.1.2.2. Based On Consumer Segment
16.1.2.3. Based On Application
16.1.2.4. Based On Bus Type
16.1.2.5. Based On Vehicle Range
16.1.2.6. Based On Battery Capacity
16.1.2.7. Based On Battery Type
16.1.2.8. Based On Component
16.1.2.9. Based On Seating Capacity
16.1.2.10.  Â
Based
On Level Of Autonomy
16.1.2.11.   By
Country
16.1.2.11.1.      Â
Germany
16.1.2.11.2.      Â
U.K.
16.1.2.11.3.      Â
France
16.1.2.11.4.      Â
Italy
16.1.2.11.5.      Â
Spain
16.1.2.11.6.      Â
Russia
16.1.2.11.7.      Â
Rest of Europe
Â
17. Asia
Pacific  Electric
Bus Market: Estimates & Forecast
Trend Analysis
17.1. Asia
Pacific Market Assessments & Key Findings
17.1.1. Asia
Pacific Electric Bus Market Introduction
17.1.2. Asia
Pacific Electric Bus Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
17.1.2.1. Based On Type
17.1.2.2. Based On Consumer Segment
17.1.2.3. Based On Application
17.1.2.4. Based On Bus Type
17.1.2.5. Based On Vehicle Range
17.1.2.6. Based On Battery Capacity
17.1.2.7. Based On Battery Type
17.1.2.8. Based On Component
17.1.2.9. Based On Seating Capacity
17.1.2.10.   Based On Level Of Autonomy
17.1.2.11.   By
Country
17.1.2.11.1.      Â
China
17.1.2.11.2.      Â
Japan
17.1.2.11.3.      Â
India
17.1.2.11.4.      Â
Australia
17.1.2.11.5.      Â
South Korea
17.1.2.11.6.      Â
ASEAN
17.1.2.11.7.      Â
Rest of Asia Pacific
Â
18. Middle
East & Africa  Electric Bus Market: Estimates & Forecast Trend Analysis
18.1. Middle
East & Africa Market Assessments & Key Findings
18.1.1. Middle East & Africa  Electric Bus Market Introduction
18.1.2. Middle East & Africa  Electric Bus Market Size Estimates and Forecast
(US$ Million) Â (2023 to 2033)
18.1.2.1. Based On Type
18.1.2.2. Based On Consumer Segment
18.1.2.3. Based On Application
18.1.2.4. Based On Bus Type
18.1.2.5. Based On Vehicle Range
18.1.2.6. Based On Battery Capacity
18.1.2.7. Based On Battery Type
18.1.2.8. Based On Component
18.1.2.9. Based On Seating Capacity
18.1.2.10.  Â
Based
On Level Of Autonomy
18.1.2.11.   By
Country
18.1.2.11.1.        Â
U.A.E.
18.1.2.11.2.        Â
Saudi Arabia
18.1.2.11.3.        Â
Egypt
18.1.2.11.4.        Â
South Africa
18.1.2.11.5.        Â
Rest of Middle East & Africa
Â
19. South
America  Electric Bus Market: Estimates & Forecast Trend Analysis
19.1. South
America Market Assessments & Key Findings
19.1.1. South
America Electric Bus Market Introduction
19.1.2. South
America Electric Bus Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
19.1.2.1. Based On Type
19.1.2.2. Based On Consumer Segment
19.1.2.3. Based On Application
19.1.2.4. Based On Bus Type
19.1.2.5. Based On Vehicle Range
19.1.2.6. Based On Battery Capacity
19.1.2.7. Based On Battery Type
19.1.2.8. Based On Component
19.1.2.9. Based On Seating Capacity
19.1.2.10.  Â
Based
On Level Of Autonomy
19.1.2.11.   By
Country
19.1.2.11.1.      Â
Brazil
19.1.2.11.2.      Â
Argentina
19.1.2.11.3.      Â
Colombia
19.1.2.11.4.      Â
Rest of South America
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20. Competition
Landscape
20.1. Global
Electric Bus Market Competition Matrix & Benchmarking, by Leading Players /
Innovators / Emerging Players / New Entrants
20.2. Global
Electric Bus Market Concentration & Company Market Shares (%) Analysis,
2022
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21. Company
Profiles
21.1.   AB Volvo
21.1.1.   Company
Overview & Key Stats
21.1.2.   Financial
Performance & KPIs
21.1.3.   Product
Portfolio
21.1.4.   Business
Strategy & Recent Developments
* Similar details would be provided for all the
players mentioned belowÂ
21.2.   Ankai Bus
21.3.   BYD Company Ltd.
21.4.   Construcciones y Auxiliar de Ferrocarriles
21.5.   Daimler AG
21.6.   NFI Group Inc.
21.7.   Proterra
21.8.   VDL GROEP BV
21.9.   Yutong Group
21.10. Zhongtong Bus Holdings Co.
21.11. Others**
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22. Research Methodology
22.1. External
Transportations / Databases
22.2. Internal
Proprietary Database
22.3. Primary
Research
22.4. Secondary
Research
22.5. Assumptions
22.6. Limitations
22.7. Report
FAQs
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23. Research Findings & Conclusion
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Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
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The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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