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Electric Bus Market Trends and Forecast

The future of the global electric bus market looks promising with opportunities in the public and private transportation. The global electric bus market is expected to grow at a CAGR of 17.2% from 2021 to 2027. The major drivers for this market are increasing gasoline prices, government subsidies as tax benefits to promote electric buses, and stringent environmental regulations to reduce air pollution.

Emerging Trends in the Electric Bus Market

Emerging trends, which have a direct impact on the dynamics of the industry, include development of low cost lithium ion batteries and integrated software solutions for better optimization of bus performance.

A total of 152 figures / charts and 115 tables are provided in this 217-page report to help in your business decisions. Sample figures with some insights are shown below.
Electric Bus Market by Vehicle Type, Battery Type, Charging Infrastructure Type, Length Type, and End User

Electric Bus Market by Segments

Electric Bus Market by Segments

Lucintel forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global electric bus market by vehicle type, battery type, charging infrastructure type, length type, end user, and region, as follows:

Electric Bus Market by Vehicle Type [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

  • Battery Electric Bus
  • Plug-In Hybrid Electric Bus                                   
  • Hybrid Electric Bus 

Electric Bus Market by Battery Type [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

  • Lithium Iron phosphate (LFP)
  • Nickel Manganese Cobalt Oxide (NMC)
  • Others

Electric Bus Market by Charging Infrastructure Type [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

  • Plug-In
  • Conductive
  • Inductive

Electric Bus Market by Length [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

  • Small Bus (<10 Meter)
  • Large Bus ( >10 Meter)

Electric Bus Market by End Use [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

  • Public
  • Private

Electric Bus Market by Region [Value ($ Million) and Volume (units) shipment analysis for 2016 – 2027]:

List of Electric Bus Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric bus companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric bus companies profiled in this report includes. 

 Electric Bus Market Insights

  • Lucintel forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to declining battery prices and government initiatives, such as tax benefits and subsidies to promote electric transportation.
  • APAC will remain the largest region due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric bus development. Europe is expected to witness highest growth over the forecast period due to stringent European government regulations which ensures to reduce CO2 emissions by adding more electric buses to its existing fleet.

Features of the Global Electric Bus Market

  • Market Size Estimates: Global electric bus market size estimation in terms of value ($M) and volume (units) shipment.
  • Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
  • Segmentation Analysis: Global electric bus market size by various segments, such as by vehicle type, battery type, charging infrastructure type, length type, end user in terms of value and volume.
  • Regional Analysis: Global electric bus market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different segments by vehicle type, battery type, charging infrastructure type, length type, end user, and regions for the global electric bus market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global electric bus market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model
FAQ
Q1. What is the electric bus market size?
Answer: The global electric bus market is expected to reach an estimated $106.5 billion by 2027.
Q2. What is the growth forecast for electric bus market?
Answer: The electric bus market is expected to grow at a CAGR of 17.2% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the electric bus market?
Answer: The major drivers for this market are increasing gasoline prices, government subsidies as tax benefits to promote electric buses, and stringent environmental regulations to reduce air pollution.
Q4. What are the major applications or end use industries for electric bus?
Answer: Lithium iron phosphate (LFP) is the major segment by battery type for Electric bus.
Q5. What are the emerging trends in electric bus market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, development of low cost lithium ion batteries and integrated software solutions for better optimization of bus performance.
Q6. Who are the key electric bus companies?
Answer: Some of the key electric bus companies are as follows:
  • Zhengzhou Yutong Bus
  • Zhuhai Yinlong
  • Zhongtong
  • CRRC
  • Nanjing Jinlong
  • Volvo
  • Solaris
  • VDL Bus & Coach
  • Proterra
  • New Flyer
Q7.Which electric bus vehicle segment will be the largest in future?
Answer: Lucintel forecasts that battery electric bus will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to declining battery prices and government initiatives, such as tax benefits and subsidies to promote electric transportation.
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Q8: In electric bus market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric bus development. Europe is expected to witness highest growth over the forecast period due to stringent European government regulations which ensures to reduce CO2 emissions by adding more electric buses to its existing fleet.

Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 
This report answers following 11 key questions
Q.1 What are some of the most promising growth opportunities for the global electric bus market by vehicle type (Plug-in hybrid electric bus, Hybrid electric bus, Battery electric bus), by battery type (Lithium Iron Phosphate, Nickel Manganese Cobalt Oxide (NMC), Others), by charging type (inductive, conductive, and plugin) by length type (<10 Meter and >10Meter), by end-use type (public and private), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last five years?

Report Scope

Key Features Description
Base Year for Estimation 2021
Trend Period
(Actual Estimates)		 2016-2021
Forecast Period 2022-2027
Pages 217
Market Representation / Units Revenue in US $ Million
Regional Scope North America (USA, Mexico, and Canada), Europe (Germany and United Kingdom), Asia (China, Japan, and India), and ROW (Middle East and Brazil)
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger, Acquisitions & Joint Venture, and Company Profiling
Market Segments By Vehicle Type, Battery Type, Charging Type, Length Type and End-Use Type
Customization 10% Customization without Any Additional Cost

Related Keywords:  electric bus manufacturers, electric bus brands, electric bus makers, top electric bus manufacturers, top electric bus companies, electric bus market share, electric bus market size
Table of Contents
 
1. Executive Summary
 
2.  Electric Bus Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2016 to 2027 
3.1: Macroeconomic Trends and Forecasts
3.2:  Electric Bus Market Trends and Forecast
3.3:  Electric Bus Market by Vehicle Type
3.3.1: Battery Electric Bus
3.3.2: Plug-In Hybrid Electric Bus 
3.3.3: Hybrid Electric Bus 
3.4:  Electric Bus Market by Battery Type
3.4.1: Lithium Iron phosphate (LFP)
3.4.2: Nickel Manganese Cobalt Oxide (NMC) 
3.4.3: Others
3.5:  Electric Bus Market by Charging Infrastructure
3.5.1: Plug-In
3.5.2: Conductive
3.5.3: Inductive
3.6:  Electric Bus Market by Length Type
3.6.1: Small Bus (<10 Meter)
3.6.2: Large Bus (>10 Meter)
3.7:  Electric Bus Market by End Use Type
3.7.1: Public
3.7.2: Private
 
4. Market Trends and Forecast Analysis by Region from 2016 to 2027
4.1:  Electric Bus Market by Region
4.2: North American Electric Bus Market
4.2.1: North American Electric Bus Market by Vehicle Type
4.2.2: North American Electric Bus Market by Battery Type
4.2.3: North American Electric Bus Market by Charging Type
4.2.4: North American Electric Bus Market by Length Type
4.2.5: North American Electric Bus Market by End Use Type
4.3: European Electric Bus Market 
4.3.1: European Electric Bus Market by Vehicle Type
4.3.2: European Electric Bus Market by Battery Type
4.3.3: European Electric Bus Market by Charging Type
4.3.4: European Electric Bus Market by Length Type
4.3.5: European Electric Bus Market by End Use Type
4.4: APAC Electric Bus Market 
4.4.1: APAC Electric Bus Market by Vehicle Type
4.4.2: APAC Electric Bus Market by Battery Type
4.4.3: APAC Electric Bus Market by Charging Type
4.4.4: APAC Electric Bus Market by Length Type
4.4.5: APAC Electric Bus Market by End Use Type
4.5: ROW Electric Bus Market 
4.5.1: ROW Electric Bus Market by Vehicle Type
4.5.2: ROW Electric Bus Market by Battery Type 
4.5.3: ROW Electric Bus Market by Charging Type
4.5.4: ROW Electric Bus Market by Length Type 
4.5.5: ROW Electric Bus Market by End Use Type
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration 
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the  Electric Bus Market by Vehicle Type
6.1.2: Growth Opportunities for the  Electric Bus Market by Battery Type
6.1.3: Growth Opportunities for the  Electric Bus Market by Charging Infrastructure
6.1.4: Growth Opportunities for the  Electric Bus Market by Length Type 
6.1.5: Growth Opportunities for the  Electric Bus Market by End Use Type 
6.1.6: Growth Opportunities for the  Electric Bus Market by Region 
6.2: Emerging Trends in the  Electric Bus Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion in the  Electric Bus Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the  Electric Bus
 
7. Company Profiles of Leading Player
7.1: BYD
7.2: CRRC
7.3: Alexander Dennis Limited
7.4: Solaris Bus & Coach
7.5: Zhengzhou Yutong
7.6: New Flyer
7.7: Volvo
7.8: Proterra
 

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Full Report: Electric Bus Market: Trends, Opportunities and Competitive Analysis [2022-2027] Full Report $ 4,850
152 figures/charts and 115 tables are provided in this 217 - page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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