Electric Bus Market Report


   August 29, 2019
According to a new market report published by Lucintel, the future of the electric bus market looks promising with opportunities in the public and private transportation. The electric bus market is expected to reach an estimated $71.9 billion by 2024 with a CAGR of 19.6% from 2019 to 2024. 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.

Browse 115 market data tables and 152 figures spread through 217 pages and in-depth TOC on “Electric Bus Market"

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In this market, different types of electric bus such as plug-in hybrid electric bus, hybrid electric bus, battery electric bus are used as vehicle type. 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.

Within this market lithium iron phosphate, nickel manganese cobalt oxide (NMC), lithium metal polymer, nickel-metal hydride, and lithium titanate oxide rechargeable batteries are used in electric bus. On the basis of its comprehensive research, Lucintel forecasts that lithium iron phosphate (LFP) will remain the largest segment due to its economical cost and long cycle life. Nickel manganese cobalt oxide (NMC) battery is expected to witness highest growth over the forecast period due to its faster charging rate and higher energy density properties.

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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.

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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. BYD, CRRC, Alexander Dennis Limited, Solaris Bus & Coach, Zhengzhou Yutong, New Flyer, Volvo, Proterra, and others are among the major electric bus manufacturers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the electric bus market by vehicle type, battery type, charging type, length type, end use type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Electric Bus Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the electric bus market by vehicle type, battery type, charging type, length type, end use type, and region as follows:

By Vehicle Type [$M shipment analysis from 2013 to 2024]:



  • Battery Electric Bus


  • Plug-In Hybrid Electric Bus 


  • Hybrid Electric Bus


By End Use Industry [$M shipment analysis from 2013 to 2024]:



  • Lithium Iron phosphate (LFP)


  • Nickel Manganese Cobalt Oxide (NMC)


  • Others


By Technology [$M shipment analysis from 2013 to 2024]:



  • Plug-in


  • Conductive


  • Others


By Length Type [$M shipment analysis from 2013 to 2024]:



  • Small Bus (<10 Meter)


  • Large Bus ( >10 Meter)


By End Use Type [$M shipment analysis from 2013 to 2024]:



  • Public


  • Private


By Region [$M shipment analysis for 2013 to 2024]:



  • North America


  • United States


  • Canada


  • Mexico


  • Europe


  • United Kingdom


  • Germany


  • Asia Pacific


  • Japan


  • China


  • The Rest of the World


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This 217-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/electric-bus-market.aspx or helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.



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