Electric Bus Market - Trends Forecast Till 2028

Electric Bus Market by Propulsion (BEV, PHEV & FCEV), Application (Intercity & Intra-city), Consumer Segment (Fleet Operators & Government), Range, Length of Bus, Power Output, Battery Capacity, Component, Battery type and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-AU-EBM-617

Format:  

Number of Pages: 372

Domain: Automotive

Electric Bus Market – Trends Forecast Till 2028

The global electric bus market is projected to grow from 192 thousand units in 2021 to 544 thousand units in 2028 at a CAGR of 16.0% in forecast period.

Electric bus or e-bus is a bus that does not have traditional ICE engine for its propulsion and is completely electric. E-bus is driven by an on-board electric motor that receives the power from on-board batteries or set of batteries. Electric buses are considered as eco-friendly as they do not produce any pollutants are also economical when compared with traditional gasoline/diesel buses.

Increase in demand for fuel-efficient, high-performance, and low-emission buses, stringent government rules & regulations toward vehicle emission, and reduction in battery prices are some of the factors that have supported long-term expansion for Electric Bus Market.

With the advent in 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. In addition, the unavailability of skilled labour has affected the market growth.

Electric Bus Market Analysis

The market in Asia Pacific is projected to experience the fastest growth owing to the high demand of electric buses from countries such China, Japan, South Korea and India. Further, China has introduced many electric buses to reduce vehicle emissions.

Electric Bus Market is segmented into propulsion type, consumer segment, application, application, bus type, vehicle range, battery capacity, power output, battery type, component (qualitative) and region.

On the basis of Propulsion Type

  • BEV
  • PHEV
  • FCEV

On the basis of Consumer Segment

  • Fleet operator
  • Government

On the basis of Application

  • Intercity
  • Intracity

On the basis of Bus Type

  • less than 9 m
  • 9−14 m
  • Above 1 4m

On the basis of Vehicle Range

  • less than 200 miles
  • Above 200 miles

On the basis of Battery Capacity

  • Upto 400 kWh
  • Above 400 kWh

On the basis of Power Output

  • Upto 250 kW
  • Above 250 kW

On the basis of Battery Type

  • Lithium- Nickel- Manganese- Cobalt-Oxide
  • Lithium- Iron- Phosphate

On the basis of Component (qualitative)

  • Motor
  • Battery
  • Fuel Cell Stack
  • Battery Management System
  • Battery Cooling System
  • EV Connectors

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Electric Bus Market Primary Respondents

 

Key Players

  • 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.

Recent Developments

  • In April 2021, VDL has announced a supply contract of 32 electric buses to public transport company Hermes in Eindhoven. These buses will be operational from January 2022 in Eindhoven cityscape.
  • In February 2021, The Montgomery County Public Schools (MCPS) Board of Education approved a contract with Highland Electric Transportation. Highland Electric Transportation to deploy 326 Thomas Built electric school buses powered by Proterra.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Electric Bus Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 192 thousands

Growth Rate

CAGR of 16.0% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in thousands and CAGR from 2021 to 2028

Report Segmentation

propulsion type, consumer segment, application, application, bus type, vehicle range, battery capacity, power output, battery type, component (qualitative) and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

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, and Zhongtong Bus Holdings Co., Ltd.

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