Electric buses are driven by an electric motor powered by on-board batteries. As these buses run completely on the battery itself, they require re-charging once drained, unlike refueling in the case of ICE buses. E-buses are more efficient than ICE buses in power delivery, torque, and maintenance and are pollution free. Therefore, electric buses are considered the future of public transport systems.
The electric bus market is driven by factors such as an increase in demand for fuel-efficient, high-performance, & low-emission buses, stringent government rules and regulations toward vehicle emission, and reduction in battery prices. However, high manufacturing costs and low fuel economy & serviceability restrict the market growth. Moreover, technological advancements and proactive government initiatives create lucrative growth opportunities for the market.
In addition, electric buses are noise-free, have zero emission, and are an efficient mode of transportation with a lower maintenance cost, which in turn, makes them the preferred choice for fleet owners. In addition, factor such as increasing government initiatives for the promotion of electrification is expected to drive market growth during the forecast year. For instance, in July 2021, the National Transport Authority of Ireland signed a contract with Alexander Dennis Limited and BYD UK for 200 BYD ADL Enviro200EV zero-emission battery-electric buses.
The global e-bus market is segmented on the basis of propulsion type, length, range, battery capacity, power output, and region. By propulsion type, the market is segmented into battery electric vehicle, plug-in hybrid electric vehicle and fuel cell electric vehicle. Further, by length, the market is segmented into less than 9 meters, 9-14 meters, and above 14 meters. By range, the market is segmented into 150 miles, 150 To 300 miles and above 300 miles. Moreover, the market is segmented based on battery capacity into less than 50 kWh, 50-250 kWh and above 250 kWh. By power output, the market is split into up to 250kW and above 250 kW. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of propulsion type, the battery electric vehicle was the highest revenue contributor to the market due to gaining immense traction in the electric bus market owing to their advantages such as changing perception toward the adoption of electric buses in developing as well as developed countries propel the demand of the segment. Also, in most battery electric vehicles, the bus is also capable to recharge its batteries through a process known as regenerative braking, which uses the vehicle’s electric motor to assist in slowing the vehicle and to recover some energy that is normally converted to heat by the brakes which further provide growth opportunities for the electric bus market.
Some major companies operating in the electric bus market include 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.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric bus market analysis from 2021 to 2031 to identify the prevailing electric bus market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electric bus market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electric bus market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Propulsion Type
Battery electric vehicle
Fuel cell electric vehicle
Plug-in hybrid electric vehicle
By Length
Less than 9 meters
9-14 meters
Above 14 meters
By Range
Less Than 150 Miles
150 To 300 Miles
Above 300 Miles
By Battery Capacity
Less Than 50 kWh
50-250 kWh
Above 250 kWh
By Power Output
Up to 250 kW
Above 250 kW
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Netherlands
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
AB Volvo
BYD Company Ltd
VDL Groep BV
Anhui Ankai Automobile Co.,Ltd
YUTONG
Proterra
CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
Daimler AG
NFI Group Inc.
Zhongtog Bus Holding
Table of Contents
CHAPTER 1: INTRODUCTION
1.1. Report description 1.2. Key market segments 1.3. Key benefits to the stakeholders 1.4. Research Methodology 1.4.1. Primary research 1.4.2. Secondary research 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope 3.2. Key findings 3.2.1. Top impacting factors 3.2.2. Top investment pockets 3.3. Porter’s five forces analysis 3.3.1. Bargaining power of suppliers 3.3.2. Bargaining power of buyers 3.3.3. Threat of substitutes 3.3.4. Threat of new entrants 3.3.5. Intensity of rivalry 3.4. Market dynamics 3.4.1. Drivers 3.4.1.1. Increase in demand for fuel-efficient, high-performance, and low emission buses 3.4.1.2. Reduction in cost of electric vehicle batteries 3.4.1.3. Increase in government initiatives for the promotion of e-mobility 3.4.2. Restraints 3.4.2.1. High cost of investment and complication in operating advanced systems 3.4.2.2. Lack of charging infrastructure 3.4.3. Opportunities 3.4.3.1. Technological advancements 3.4.3.2. Environmental Benefits 3.4.3.3. Greater availability of credit and financing options 3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: ELECTRIC BUS MARKET, BY PROPULSION TYPE
4.1. Overview 4.1.1. Market size and forecast 4.2. Battery electric vehicle 4.2.1. Key market trends, growth factors and opportunities 4.2.2. Market size and forecast, by region 4.2.3. Market share analysis by country 4.3. Fuel cell electric vehicle 4.3.1. Key market trends, growth factors and opportunities 4.3.2. Market size and forecast, by region 4.3.3. Market share analysis by country 4.4. Plug-in hybrid electric vehicle 4.4.1. Key market trends, growth factors and opportunities 4.4.2. Market size and forecast, by region 4.4.3. Market share analysis by country
CHAPTER 5: ELECTRIC BUS MARKET, BY LENGTH
5.1. Overview 5.1.1. Market size and forecast 5.2. Less than 9 meters 5.2.1. Key market trends, growth factors and opportunities 5.2.2. Market size and forecast, by region 5.2.3. Market share analysis by country 5.3. 9-14 meters 5.3.1. Key market trends, growth factors and opportunities 5.3.2. Market size and forecast, by region 5.3.3. Market share analysis by country 5.4. Above 14 meters 5.4.1. Key market trends, growth factors and opportunities 5.4.2. Market size and forecast, by region 5.4.3. Market share analysis by country
CHAPTER 6: ELECTRIC BUS MARKET, BY RANGE
6.1. Overview 6.1.1. Market size and forecast 6.2. Less Than 150 Miles 6.2.1. Key market trends, growth factors and opportunities 6.2.2. Market size and forecast, by region 6.2.3. Market share analysis by country 6.3. 150 To 300 Miles 6.3.1. Key market trends, growth factors and opportunities 6.3.2. Market size and forecast, by region 6.3.3. Market share analysis by country 6.4. Above 300 Miles 6.4.1. Key market trends, growth factors and opportunities 6.4.2. Market size and forecast, by region 6.4.3. Market share analysis by country
CHAPTER 7: ELECTRIC BUS MARKET, BY BATTERY CAPACITY
7.1. Overview 7.1.1. Market size and forecast 7.2. Less Than 50 kWh 7.2.1. Key market trends, growth factors and opportunities 7.2.2. Market size and forecast, by region 7.2.3. Market share analysis by country 7.3. 50-250 kWh 7.3.1. Key market trends, growth factors and opportunities 7.3.2. Market size and forecast, by region 7.3.3. Market share analysis by country 7.4. Above 250 kWh 7.4.1. Key market trends, growth factors and opportunities 7.4.2. Market size and forecast, by region 7.4.3. Market share analysis by country
CHAPTER 8: ELECTRIC BUS MARKET, BY POWER OUTPUT
8.1. Overview 8.1.1. Market size and forecast 8.2. Up to 250 kW 8.2.1. Key market trends, growth factors and opportunities 8.2.2. Market size and forecast, by region 8.2.3. Market share analysis by country 8.3. Above 250 kW 8.3.1. Key market trends, growth factors and opportunities 8.3.2. Market size and forecast, by region 8.3.3. Market share analysis by country
CHAPTER 9: ELECTRIC BUS MARKET, BY REGION
9.1. Overview 9.1.1. Market size and forecast By Region 9.2. North America 9.2.1. Key trends and opportunities 9.2.2. Market size and forecast, by Propulsion Type 9.2.3. Market size and forecast, by Length 9.2.4. Market size and forecast, by Range 9.2.5. Market size and forecast, by Battery Capacity 9.2.6. Market size and forecast, by Power Output 9.2.7. Market size and forecast, by country 9.2.7.1. U.S. 9.2.7.1.1. Key market trends, growth factors and opportunities 9.2.7.1.2. Market size and forecast, by Propulsion Type 9.2.7.1.3. Market size and forecast, by Length 9.2.7.1.4. Market size and forecast, by Range 9.2.7.1.5. Market size and forecast, by Battery Capacity 9.2.7.1.6. Market size and forecast, by Power Output 9.2.7.2. Canada 9.2.7.2.1. Key market trends, growth factors and opportunities 9.2.7.2.2. Market size and forecast, by Propulsion Type 9.2.7.2.3. Market size and forecast, by Length 9.2.7.2.4. Market size and forecast, by Range 9.2.7.2.5. Market size and forecast, by Battery Capacity 9.2.7.2.6. Market size and forecast, by Power Output 9.2.7.3. Mexico 9.2.7.3.1. Key market trends, growth factors and opportunities 9.2.7.3.2. Market size and forecast, by Propulsion Type 9.2.7.3.3. Market size and forecast, by Length 9.2.7.3.4. Market size and forecast, by Range 9.2.7.3.5. Market size and forecast, by Battery Capacity 9.2.7.3.6. Market size and forecast, by Power Output 9.3. Europe 9.3.1. Key trends and opportunities 9.3.2. Market size and forecast, by Propulsion Type 9.3.3. Market size and forecast, by Length 9.3.4. Market size and forecast, by Range 9.3.5. Market size and forecast, by Battery Capacity 9.3.6. Market size and forecast, by Power Output 9.3.7. Market size and forecast, by country 9.3.7.1. UK 9.3.7.1.1. Key market trends, growth factors and opportunities 9.3.7.1.2. Market size and forecast, by Propulsion Type 9.3.7.1.3. Market size and forecast, by Length 9.3.7.1.4. Market size and forecast, by Range 9.3.7.1.5. Market size and forecast, by Battery Capacity 9.3.7.1.6. Market size and forecast, by Power Output 9.3.7.2. Germany 9.3.7.2.1. Key market trends, growth factors and opportunities 9.3.7.2.2. Market size and forecast, by Propulsion Type 9.3.7.2.3. Market size and forecast, by Length 9.3.7.2.4. Market size and forecast, by Range 9.3.7.2.5. Market size and forecast, by Battery Capacity 9.3.7.2.6. Market size and forecast, by Power Output 9.3.7.3. Netherlands 9.3.7.3.1. Key market trends, growth factors and opportunities 9.3.7.3.2. Market size and forecast, by Propulsion Type 9.3.7.3.3. Market size and forecast, by Length 9.3.7.3.4. Market size and forecast, by Range 9.3.7.3.5. Market size and forecast, by Battery Capacity 9.3.7.3.6. Market size and forecast, by Power Output 9.3.7.4. France 9.3.7.4.1. Key market trends, growth factors and opportunities 9.3.7.4.2. Market size and forecast, by Propulsion Type 9.3.7.4.3. Market size and forecast, by Length 9.3.7.4.4. Market size and forecast, by Range 9.3.7.4.5. Market size and forecast, by Battery Capacity 9.3.7.4.6. Market size and forecast, by Power Output 9.3.7.5. Rest of Europe 9.3.7.5.1. Key market trends, growth factors and opportunities 9.3.7.5.2. Market size and forecast, by Propulsion Type 9.3.7.5.3. Market size and forecast, by Length 9.3.7.5.4. Market size and forecast, by Range 9.3.7.5.5. Market size and forecast, by Battery Capacity 9.3.7.5.6. Market size and forecast, by Power Output 9.4. Asia-Pacific 9.4.1. Key trends and opportunities 9.4.2. Market size and forecast, by Propulsion Type 9.4.3. Market size and forecast, by Length 9.4.4. Market size and forecast, by Range 9.4.5. Market size and forecast, by Battery Capacity 9.4.6. Market size and forecast, by Power Output 9.4.7. Market size and forecast, by country 9.4.7.1. China 9.4.7.1.1. Key market trends, growth factors and opportunities 9.4.7.1.2. Market size and forecast, by Propulsion Type 9.4.7.1.3. Market size and forecast, by Length 9.4.7.1.4. Market size and forecast, by Range 9.4.7.1.5. Market size and forecast, by Battery Capacity 9.4.7.1.6. Market size and forecast, by Power Output 9.4.7.2. India 9.4.7.2.1. Key market trends, growth factors and opportunities 9.4.7.2.2. Market size and forecast, by Propulsion Type 9.4.7.2.3. Market size and forecast, by Length 9.4.7.2.4. Market size and forecast, by Range 9.4.7.2.5. Market size and forecast, by Battery Capacity 9.4.7.2.6. Market size and forecast, by Power Output 9.4.7.3. Japan 9.4.7.3.1. Key market trends, growth factors and opportunities 9.4.7.3.2. Market size and forecast, by Propulsion Type 9.4.7.3.3. Market size and forecast, by Length 9.4.7.3.4. Market size and forecast, by Range 9.4.7.3.5. Market size and forecast, by Battery Capacity 9.4.7.3.6. Market size and forecast, by Power Output 9.4.7.4. South Korea 9.4.7.4.1. Key market trends, growth factors and opportunities 9.4.7.4.2. Market size and forecast, by Propulsion Type 9.4.7.4.3. Market size and forecast, by Length 9.4.7.4.4. Market size and forecast, by Range 9.4.7.4.5. Market size and forecast, by Battery Capacity 9.4.7.4.6. Market size and forecast, by Power Output 9.4.7.5. Rest of Asia-Pacific 9.4.7.5.1. Key market trends, growth factors and opportunities 9.4.7.5.2. Market size and forecast, by Propulsion Type 9.4.7.5.3. Market size and forecast, by Length 9.4.7.5.4. Market size and forecast, by Range 9.4.7.5.5. Market size and forecast, by Battery Capacity 9.4.7.5.6. Market size and forecast, by Power Output 9.5. LAMEA 9.5.1. Key trends and opportunities 9.5.2. Market size and forecast, by Propulsion Type 9.5.3. Market size and forecast, by Length 9.5.4. Market size and forecast, by Range 9.5.5. Market size and forecast, by Battery Capacity 9.5.6. Market size and forecast, by Power Output 9.5.7. Market size and forecast, by country 9.5.7.1. Latin America 9.5.7.1.1. Key market trends, growth factors and opportunities 9.5.7.1.2. Market size and forecast, by Propulsion Type 9.5.7.1.3. Market size and forecast, by Length 9.5.7.1.4. Market size and forecast, by Range 9.5.7.1.5. Market size and forecast, by Battery Capacity 9.5.7.1.6. Market size and forecast, by Power Output 9.5.7.2. Middle East 9.5.7.2.1. Key market trends, growth factors and opportunities 9.5.7.2.2. Market size and forecast, by Propulsion Type 9.5.7.2.3. Market size and forecast, by Length 9.5.7.2.4. Market size and forecast, by Range 9.5.7.2.5. Market size and forecast, by Battery Capacity 9.5.7.2.6. Market size and forecast, by Power Output 9.5.7.3. Africa 9.5.7.3.1. Key market trends, growth factors and opportunities 9.5.7.3.2. Market size and forecast, by Propulsion Type 9.5.7.3.3. Market size and forecast, by Length 9.5.7.3.4. Market size and forecast, by Range 9.5.7.3.5. Market size and forecast, by Battery Capacity 9.5.7.3.6. Market size and forecast, by Power Output
CHAPTER 10: COMPETITIVE LANDSCAPE
10.1. Introduction 10.2. Top winning strategies 10.3. Product Mapping of Top 10 Player 10.4. Competitive Dashboard 10.5. Competitive Heatmap 10.6. Top player positioning, 2021
CHAPTER 11: COMPANY PROFILES
11.1. AB Volvo 11.1.1. Company overview 11.1.2. Key Executives 11.1.3. Company snapshot 11.1.4. Operating business segments 11.1.5. Product portfolio 11.1.6. Business performance 11.1.7. Key strategic moves and developments 11.2. Anhui Ankai Automobile Co.,Ltd 11.2.1. Company overview 11.2.2. Key Executives 11.2.3. Company snapshot 11.2.4. Operating business segments 11.2.5. Product portfolio 11.2.6. Business performance 11.3. BYD Company Ltd 11.3.1. Company overview 11.3.2. Key Executives 11.3.3. Company snapshot 11.3.4. Operating business segments 11.3.5. Product portfolio 11.3.6. Business performance 11.3.7. Key strategic moves and developments 11.4. CAF, Construcciones y Auxiliar de Ferrocarriles, S.A. 11.4.1. Company overview 11.4.2. Key Executives 11.4.3. Company snapshot 11.4.4. Operating business segments 11.4.5. Product portfolio 11.4.6. Business performance 11.4.7. Key strategic moves and developments 11.5. Daimler AG 11.5.1. Company overview 11.5.2. Key Executives 11.5.3. Company snapshot 11.5.4. Operating business segments 11.5.5. Product portfolio 11.5.6. Business performance 11.5.7. Key strategic moves and developments 11.6. NFI Group Inc. 11.6.1. Company overview 11.6.2. Key Executives 11.6.3. Company snapshot 11.6.4. Operating business segments 11.6.5. Product portfolio 11.6.6. Business performance 11.6.7. Key strategic moves and developments 11.7. Proterra 11.7.1. Company overview 11.7.2. Key Executives 11.7.3. Company snapshot 11.7.4. Operating business segments 11.7.5. Product portfolio 11.7.6. Business performance 11.7.7. Key strategic moves and developments 11.8. VDL Groep BV 11.8.1. Company overview 11.8.2. Key Executives 11.8.3. Company snapshot 11.8.4. Operating business segments 11.8.5. Product portfolio 11.8.6. Business performance 11.8.7. Key strategic moves and developments 11.9. YUTONG 11.9.1. Company overview 11.9.2. Key Executives 11.9.3. Company snapshot 11.9.4. Operating business segments 11.9.5. Product portfolio 11.9.6. Key strategic moves and developments 11.10. Zhongtog Bus Holding 11.10.1. Company overview 11.10.2. Key Executives 11.10.3. Company snapshot 11.10.4. Operating business segments 11.10.5. Product portfolio
List of Tables
TABLE 01. GLOBAL ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 02. ELECTRIC BUS MARKET FOR BATTERY ELECTRIC VEHICLE, BY REGION, 2021-2031 ($MILLION) TABLE 03. ELECTRIC BUS MARKET FOR FUEL CELL ELECTRIC VEHICLE, BY REGION, 2021-2031 ($MILLION) TABLE 04. ELECTRIC BUS MARKET FOR PLUG-IN HYBRID ELECTRIC VEHICLE, BY REGION, 2021-2031 ($MILLION) TABLE 05. GLOBAL ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 06. ELECTRIC BUS MARKET FOR LESS THAN 9 METERS, BY REGION, 2021-2031 ($MILLION) TABLE 07. ELECTRIC BUS MARKET FOR 9-14 METERS, BY REGION, 2021-2031 ($MILLION) TABLE 08. ELECTRIC BUS MARKET FOR ABOVE 14 METERS, BY REGION, 2021-2031 ($MILLION) TABLE 09. GLOBAL ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 10. ELECTRIC BUS MARKET FOR LESS THAN 150 MILES, BY REGION, 2021-2031 ($MILLION) TABLE 11. ELECTRIC BUS MARKET FOR 150 TO 300 MILES, BY REGION, 2021-2031 ($MILLION) TABLE 12. ELECTRIC BUS MARKET FOR ABOVE 300 MILES, BY REGION, 2021-2031 ($MILLION) TABLE 13. GLOBAL ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 14. ELECTRIC BUS MARKET FOR LESS THAN 50 KWH, BY REGION, 2021-2031 ($MILLION) TABLE 15. ELECTRIC BUS MARKET FOR 50-250 KWH, BY REGION, 2021-2031 ($MILLION) TABLE 16. ELECTRIC BUS MARKET FOR ABOVE 250 KWH, BY REGION, 2021-2031 ($MILLION) TABLE 17. GLOBAL ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 18. ELECTRIC BUS MARKET FOR UP TO 250 KW, BY REGION, 2021-2031 ($MILLION) TABLE 19. ELECTRIC BUS MARKET FOR ABOVE 250 KW, BY REGION, 2021-2031 ($MILLION) TABLE 20. ELECTRIC BUS MARKET, BY REGION, 2021-2031 ($MILLION) TABLE 21. NORTH AMERICA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 22. NORTH AMERICA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 23. NORTH AMERICA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 24. NORTH AMERICA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 25. NORTH AMERICA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 26. NORTH AMERICA ELECTRIC BUS MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 27. U.S. ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 28. U.S. ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 29. U.S. ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 30. U.S. ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 31. U.S. ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 32. CANADA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 33. CANADA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 34. CANADA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 35. CANADA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 36. CANADA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 37. MEXICO ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 38. MEXICO ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 39. MEXICO ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 40. MEXICO ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 41. MEXICO ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 42. EUROPE ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 43. EUROPE ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 44. EUROPE ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 45. EUROPE ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 46. EUROPE ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 47. EUROPE ELECTRIC BUS MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 48. UK ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 49. UK ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 50. UK ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 51. UK ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 52. UK ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 53. GERMANY ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 54. GERMANY ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 55. GERMANY ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 56. GERMANY ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 57. GERMANY ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 58. NETHERLANDS ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 59. NETHERLANDS ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 60. NETHERLANDS ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 61. NETHERLANDS ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 62. NETHERLANDS ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 63. FRANCE ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 64. FRANCE ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 65. FRANCE ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 66. FRANCE ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 67. FRANCE ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 68. REST OF EUROPE ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 69. REST OF EUROPE ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 70. REST OF EUROPE ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 71. REST OF EUROPE ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 72. REST OF EUROPE ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 73. ASIA-PACIFIC ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 74. ASIA-PACIFIC ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 75. ASIA-PACIFIC ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 76. ASIA-PACIFIC ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 77. ASIA-PACIFIC ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 78. ASIA-PACIFIC ELECTRIC BUS MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 79. CHINA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 80. CHINA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 81. CHINA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 82. CHINA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 83. CHINA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 84. INDIA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 85. INDIA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 86. INDIA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 87. INDIA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 88. INDIA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 89. JAPAN ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 90. JAPAN ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 91. JAPAN ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 92. JAPAN ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 93. JAPAN ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 94. SOUTH KOREA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 95. SOUTH KOREA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 96. SOUTH KOREA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 97. SOUTH KOREA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 98. SOUTH KOREA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 99. REST OF ASIA-PACIFIC ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 100. REST OF ASIA-PACIFIC ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 101. REST OF ASIA-PACIFIC ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 102. REST OF ASIA-PACIFIC ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 103. REST OF ASIA-PACIFIC ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 104. LAMEA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 105. LAMEA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 106. LAMEA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 107. LAMEA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 108. LAMEA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 109. LAMEA ELECTRIC BUS MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 110. LATIN AMERICA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 111. LATIN AMERICA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 112. LATIN AMERICA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 113. LATIN AMERICA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 114. LATIN AMERICA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 115. MIDDLE EAST ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 116. MIDDLE EAST ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 117. MIDDLE EAST ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 118. MIDDLE EAST ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 119. MIDDLE EAST ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 120. AFRICA ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021-2031 ($MILLION) TABLE 121. AFRICA ELECTRIC BUS MARKET, BY LENGTH, 2021-2031 ($MILLION) TABLE 122. AFRICA ELECTRIC BUS MARKET, BY RANGE, 2021-2031 ($MILLION) TABLE 123. AFRICA ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021-2031 ($MILLION) TABLE 124. AFRICA ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021-2031 ($MILLION) TABLE 125. AB VOLVO: KEY EXECUTIVES TABLE 126. AB VOLVO: COMPANY SNAPSHOT TABLE 127. AB VOLVO: PRODUCT SEGMENTS TABLE 128. AB VOLVO: SERVICE SEGMENTS TABLE 129. AB VOLVO: PRODUCT PORTFOLIO TABLE 130. AB VOLVO: KEY STRATERGIES TABLE 131. ANHUI ANKAI AUTOMOBILE CO.,LTD: KEY EXECUTIVES TABLE 132. ANHUI ANKAI AUTOMOBILE CO.,LTD: COMPANY SNAPSHOT TABLE 133. ANHUI ANKAI AUTOMOBILE CO.,LTD: PRODUCT SEGMENTS TABLE 134. ANHUI ANKAI AUTOMOBILE CO.,LTD: PRODUCT PORTFOLIO TABLE 135. BYD COMPANY LTD: KEY EXECUTIVES TABLE 136. BYD COMPANY LTD: COMPANY SNAPSHOT TABLE 137. BYD COMPANY LTD: PRODUCT SEGMENTS TABLE 138. BYD COMPANY LTD: PRODUCT PORTFOLIO TABLE 139. BYD COMPANY LTD: KEY STRATERGIES TABLE 140. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: KEY EXECUTIVES TABLE 141. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: COMPANY SNAPSHOT TABLE 142. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: PRODUCT SEGMENTS TABLE 143. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: PRODUCT PORTFOLIO TABLE 144. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: KEY STRATERGIES TABLE 145. DAIMLER AG: KEY EXECUTIVES TABLE 146. DAIMLER AG: COMPANY SNAPSHOT TABLE 147. DAIMLER AG: PRODUCT SEGMENTS TABLE 148. DAIMLER AG: PRODUCT PORTFOLIO TABLE 149. DAIMLER AG: KEY STRATERGIES TABLE 150. NFI GROUP INC.: KEY EXECUTIVES TABLE 151. NFI GROUP INC.: COMPANY SNAPSHOT TABLE 152. NFI GROUP INC.: PRODUCT SEGMENTS TABLE 153. NFI GROUP INC.: PRODUCT PORTFOLIO TABLE 154. NFI GROUP INC.: KEY STRATERGIES TABLE 155. PROTERRA: KEY EXECUTIVES TABLE 156. PROTERRA: COMPANY SNAPSHOT TABLE 157. PROTERRA: PRODUCT SEGMENTS TABLE 158. PROTERRA: PRODUCT PORTFOLIO TABLE 159. PROTERRA: KEY STRATERGIES TABLE 160. VDL GROEP BV: KEY EXECUTIVES TABLE 161. VDL GROEP BV: COMPANY SNAPSHOT TABLE 162. VDL GROEP BV: PRODUCT SEGMENTS TABLE 163. VDL GROEP BV: PRODUCT PORTFOLIO TABLE 164. VDL GROEP BV: KEY STRATERGIES TABLE 165. YUTONG: KEY EXECUTIVES TABLE 166. YUTONG: COMPANY SNAPSHOT TABLE 167. YUTONG: PRODUCT SEGMENTS TABLE 168. YUTONG: PRODUCT PORTFOLIO TABLE 169. YUTONG: KEY STRATERGIES TABLE 170. ZHONGTOG BUS HOLDING: KEY EXECUTIVES TABLE 171. ZHONGTOG BUS HOLDING: COMPANY SNAPSHOT TABLE 172. ZHONGTOG BUS HOLDING: PRODUCT SEGMENTS TABLE 173. ZHONGTOG BUS HOLDING: PRODUCT PORTFOLIO
List of Figures
FIGURE 01. ELECTRIC BUS MARKET, 2021-2031 FIGURE 02. SEGMENTATION OF ELECTRIC BUS MARKET, 2021-2031 FIGURE 03. TOP INVESTMENT POCKETS IN ELECTRIC BUS MARKET (2022-2031) FIGURE 04. LOW BARGAINING POWER OF SUPPLIERS FIGURE 05. LOW BARGAINING POWER OF BUYERS FIGURE 06. LOW THREAT OF SUBSTITUTES FIGURE 07. LOW THREAT OF NEW ENTRANTS FIGURE 08. LOW INTENSITY OF RIVALRY FIGURE 09. DRIVERS, RESTRAINTS AND OPPORTUNITIES: GLOBALELECTRIC BUS MARKET FIGURE 10. ELECTRIC BUS MARKET, BY PROPULSION TYPE, 2021 (%) FIGURE 11. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR BATTERY ELECTRIC VEHICLE, BY COUNTRY 2021-2031 (%) FIGURE 12. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR FUEL CELL ELECTRIC VEHICLE, BY COUNTRY 2021-2031 (%) FIGURE 13. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR PLUG-IN HYBRID ELECTRIC VEHICLE, BY COUNTRY 2021-2031 (%) FIGURE 14. ELECTRIC BUS MARKET, BY LENGTH, 2021 (%) FIGURE 15. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR LESS THAN 9 METERS, BY COUNTRY 2021-2031 (%) FIGURE 16. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR 9-14 METERS, BY COUNTRY 2021-2031 (%) FIGURE 17. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR ABOVE 14 METERS, BY COUNTRY 2021-2031 (%) FIGURE 18. ELECTRIC BUS MARKET, BY RANGE, 2021 (%) FIGURE 19. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR LESS THAN 150 MILES, BY COUNTRY 2021-2031 (%) FIGURE 20. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR 150 TO 300 MILES, BY COUNTRY 2021-2031 (%) FIGURE 21. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR ABOVE 300 MILES, BY COUNTRY 2021-2031 (%) FIGURE 22. ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021 (%) FIGURE 23. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR LESS THAN 50 KWH, BY COUNTRY 2021-2031 (%) FIGURE 24. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR 50-250 KWH, BY COUNTRY 2021-2031 (%) FIGURE 25. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR ABOVE 250 KWH, BY COUNTRY 2021-2031 (%) FIGURE 26. ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021 (%) FIGURE 27. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR UP TO 250 KW, BY COUNTRY 2021-2031 (%) FIGURE 28. COMPARATIVE SHARE ANALYSIS OF ELECTRIC BUS MARKET FOR ABOVE 250 KW, BY COUNTRY 2021-2031 (%) FIGURE 29. ELECTRIC BUS MARKET BY REGION, 2021 FIGURE 30. U.S. ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 31. CANADA ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 32. MEXICO ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 33. UK ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 34. GERMANY ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 35. NETHERLANDS ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 36. FRANCE ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 37. REST OF EUROPE ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 38. CHINA ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 39. INDIA ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 40. JAPAN ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 41. SOUTH KOREA ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 42. REST OF ASIA-PACIFIC ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 43. LATIN AMERICA ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 44. MIDDLE EAST ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 45. AFRICA ELECTRIC BUS MARKET, 2021-2031 ($MILLION) FIGURE 46. TOP WINNING STRATEGIES, BY YEAR FIGURE 47. TOP WINNING STRATEGIES, BY DEVELOPMENT FIGURE 48. TOP WINNING STRATEGIES, BY COMPANY FIGURE 49. PRODUCT MAPPING OF TOP 10 PLAYERS FIGURE 50. COMPETITIVE DASHBOARD FIGURE 51. COMPETITIVE HEATMAP: ELECTRIC BUS MARKET FIGURE 52. TOP PLAYER POSITIONING, 2021 FIGURE 53. AB VOLVO: NET SALES, 2019-2021 ($MILLION) FIGURE 54. AB VOLVO: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 FIGURE 55. AB VOLVO: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 56. AB VOLVO: REVENUE SHARE BY REGION, 2021 (%) FIGURE 57. ANHUI ANKAI AUTOMOBILE CO.,LTD: NET SALES, 2019-2021 ($MILLION) FIGURE 58. ANHUI ANKAI AUTOMOBILE CO.,LTD: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 59. ANHUI ANKAI AUTOMOBILE CO.,LTD: REVENUE SHARE BY REGION, 2021 (%) FIGURE 60. BYD COMPANY LTD: RESEARCH & DEVELOPMENT EXPENDITURE, 2018-2020 FIGURE 61. BYD COMPANY LTD: NET SALES, 2018-2020 ($MILLION) FIGURE 62. BYD COMPANY LTD: REVENUE SHARE BY SEGMENT, 2020 (%) FIGURE 63. BYD COMPANY LTD: REVENUE SHARE BY REGION, 2020 (%) FIGURE 64. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: NET REVENUE, 2019-2021 ($MILLION) FIGURE 65. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 FIGURE 66. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 67. CAF, CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S. A.: REVENUE SHARE BY REGION, 2021 (%) FIGURE 68. DAIMLER AG: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 ($MILLION) FIGURE 69. DAIMLER AG: NET SALES, 2019-2021 ($MILLION) FIGURE 70. DAIMLER AG: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 71. DAIMLER AG: REVENUE SHARE BY REGION, 2021 (%) FIGURE 72. NFI GROUP INC.: NET SALES, 2019-2021 ($MILLION) FIGURE 73. NFI GROUP INC.: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 74. NFI GROUP INC.: REVENUE SHARE BY REGION, 2021 (%) FIGURE 75. PROTERRA: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 ($MILLION) FIGURE 76. PROTERRA: NET SALES, 2019-2021 ($MILLION) FIGURE 77. PROTERRA: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 78. PROTERRA: REVENUE SHARE BY REGION, 2021 (%) FIGURE 79. VDL GROEP BV: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 ($MILLION) FIGURE 80. VDL GROEP BV: NET SALES, 2019-2021 ($MILLION) FIGURE 81. VDL GROEP BV: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 82. VDL GROEP BV: REVENUE SHARE BY REGION, 2021 (%)
Executive Summary
The Electric Bus Market is expected to experience a significant growth rate of 29.5% from 2022 to 2031 owing to the rising number of low-emission buses globally.
An electric bus powered by an electric motor instead of an internal combustion engine produces electricity by burning a mixture of fuel and gas. Such vehicles are therefore believed to have the potential to replace the current generation of automobiles to address issues such as increasing environmental pollution, global warming, and depletion of natural resources.
The major drivers for the global e-bus market growth are the rise in investments by developing and developed nations to adopt zero-emission vehicles is anticipated to propel the growth of the electric bus market during the forecast period. In addition, the use of artificial intelligence (AI) in electric buses is an important and growing trend. AI algorithms and controllers provide realistic range estimates, help optimize energy savings in electric vehicles, and ultimately help extend range which supports the market expansion during the forecast period. For instance, in September 2021, Hyundai Motor Group and Apertiv combined technical know-how and practical experience to develop autonomous driving technology.
Furthermore, factors such as bus manufacturers signing contracts to provide operation and maintenance of electric buses in the developed region and government support for the purchase of e-buses will drive the growth of the electric bus market during the forecast period. For instance, in July 2020, AB Volvo and the Public Transport Authority of Western Australia (PTA) entered into a partnership to bring Volvo’s first ever Electric Buses to Australia. Four Volvo Electric Buses will be delivered to the PTA as part of the existing 900 Bus Supply Agreement between Volvo and Transperth, which was signed in March 2019.
The market offers growth opportunities to the key players in the market. The increasing need for transportation mediums for rural and semi-urban areas has gained high traction in the last 10 years. The demand for buses in rural and semi-rural areas of Asian and African countries is gaining for a purpose of transportation. In addition, companies are integrating multiple uses of e-buses in rural and backward areas of the county. Commercial vehicle manufacturers operating in the electric bus segment are in product launch with advancement in many areas of African countries providing growth opportunities to the market during the projected year. For instance, in January 2022, Opibus, a Swedish-Kenyan technology company introduced Kenya’s first all-electric bus designed and developed in Africa. The buses will initially be deployed in peri-urban areas around Nairobi.
The electric Bus market is segmented into propulsion, length type, battery capacity, range, power output, and region. By propulsion type, it is divided into the Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), and Plug-in Hybrid Electric Vehicle (PHEV). By length type, it is categorized into less than 9 meters, 9-14 meters, and above 14 meters. By battery capacity, it is classified as less than 50 kWh, 50-250 kWh, and above 250 kWh. By range, it is fragmented into less than 150 miles, 150-300 miles, and above 300 miles. By power output, it is classified as up to 250 kW and above 250 kW.
By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Netherlands, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the global electric bus market include 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. The players in the market have been actively engaged in the adoption of various strategies such as have adopted partnerships, investments, and product launches to remain competitive and gain an advantage over the competitors in the market. For instance, in February 2023, AB Volvo signed an agreement with Belgian public transport operator Opérateur de Transport de Wallonie (OTW) to deliver 97 Volvo 7900 S-Charge buses. Volvo 7900 S-Charge bus is now in operation in more than 25 countries. It does not require charging infrastructure as it continuously self-charges while in operation, recovering energy when braking and driving downhill.
Key Market Insights
By propulsion, the battery electric vehicle segment was the highest revenue contributor to the market and is estimated to dominate the market during the forecast period.
By length type, the 9-14 meters segment was the highest revenue contributor to the market in 2021 and is estimated to capture the highest revenue during the forecast period.
By range, the 150 To 300 miles segment dominated the global market in 2021, and distributed area network is estimated to capture the highest market share during the forecast period.
By battery capacity, the 50-250 kWh segment dominated the global market in 2021 and is estimated to dominate the market share during the forecast period.
By power output, the up to 250 kW segment dominated the global market in 2021 and is estimated to dominate the market share during the forecast period.
By region, Asia-Pacific was the highest revenue contributor, accounting for the largest market share in 2021, and is estimated to grow with a significant CAGR during the forecast period.
Companies Mentioned
AB Volvo
BYD Company Ltd
VDL Groep BV
Anhui Ankai Automobile Co.,Ltd
YUTONG
Proterra
CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
Daimler AG
NFI Group Inc.
Zhongtog Bus Holding
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
Scientific and technical writings for product information and related preemptions
Regional government and statistical databases for macro analysis
Authentic news articles and other related releases for market evaluation
Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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