Global Electric Bus Market, By Type, By Battery Capacity, By Vehicle Range, By Battery Type, By Length of Bus, By Component, By End-User, By Region: Trend Analysis, Competitive Market Share & Forecast, 2018-2028

Global Electric Bus Market Primed for Long-term Growth: Forecast to Grow at a CAGR of 10.5% by 2028

The global electric bus market is growing at a high CAGR because of the increasing fuel prices and rising government investment in public transport infrastructure. Additionally, the launch of electric buses to promote the governments’ zero-emission agenda is also strengthening the market..

A recent study revealed that the global electric bus market was worth USD 37.0 billion in 2021 and is estimated to grow at a CAGR of 10.5%, earning revenue of around USD 71.2 billion by the end of 2028. The electric bus market is gaining significant traction because of the increasing fuel prices and declining levels of non-biodegradable resources. As a result, the government of different countries are taking various initiatives to promote the use of electric buses instead of traditional fuel buses. Additionally, government authorities are significantly investing in public transport infrastructure and the launch of electric buses to promote their zero-emission agenda, which is anticipated to propel the demand for electric buses during the forecast period. However, the high cost of electric buses compared to traditional buses may act as a huge restraint for the growth of the electric buses market.

Global Electric Bus Market - By Battery Type

Based on battery types, the global electric bus market is segmented into lithium-nickel-manganese-cobalt oxide, lithium-iron-phosphate, and others. Among these, the lithium-iron-phosphate segment holds the largest market share due to its higher durability and longer life span, along with low maintenance and higher safety. Furthermore, this battery type is also lighter in weight compared to its counterparts due to which it exerts less pressure on the vehicle body. Lithium-iron-phosphate battery type also has excellent thermal and chemical stability and stays cooler in higher temperatures, which acts as a favorable factor for the market growth.

Global Electric Bus Market - By Length of Bus

Based on the length of the bus, the global electric bus market is segmented into < 9 meters, 9-14 meters, and >14 meters. Due to the increase in passenger buses in public transportation, electric buses with a length of 9-14 metres have the biggest market share. Because of the high demand, manufacturers are focusing on this length range and launching electric buses with lengths ranging from 9 to 14 metres. The increased popularity of this type of electric bus can be ascribed to its long-distance capability of 125 to 155 miles.

Electric Bus Market - By Component

Based on components, the global electric bus market is segmented into motor, battery, fuel cell stacks, ultra-captivator, and others. The battery segment accounts for the largest market share due to the growing demand for battery-powered electric buses and their prominent use as public transport. The efficiency of the batteries is directly influenced by their use, temperature, as well as distance, traveled. Therefore, they require frequent replacements compared to other components for the electric bus to work efficiently, which drives its market growth.

Electric Bus Market - By End-User

Based on end-users, the global electric bus market is grouped into private and government segments. The government segment accounts for the largest market share. Electric trucks are anticipated to experience a lucrative growth opportunity due to the increasing investments into public transportation, as well as the increasing focus on decarbonizing the roads. For instance, the Berlin public transport company Berliner Verkehrsbetriebe has recently given orders for 90 more electric buses with an investment of around 65 million euros (approx USD 73.6 million) that includes charging infrastructure as well.

Impact of COVID-19 on Global Electric Bus Market

The growth of the global electric bus market was negatively halted by the sudden outbreak of the COVID-19 pandemic. The global health crisis created by the pandemic caused a dramatic decline in vehicle sales, affecting the automotive industry and adversely affecting the demand for electric bus. The manufacturers of electric bus and components had to temporarily pause their production operations due to nationwide lockdown imposed by different countries, which obstructed its market growth. However, the market is anticipated to gain significant traction during the forecast period. Furthermore, during the COVID-19 pandemic, much debate surrounded the need for sustainability and shifting from non-renewable resources, which is expected to boost the demand for electric buses in the coming years.

Global Electric Bus Market - Competitive Landscape

The leading players in the global electric bus market are Proterra, BYD Company, AB Volvo, Zhengzhou Yutong Bus Co. Ltd., Goldstone Infratech Ltd., Ashok Layland, NFI Group, Lion Electric Company, GreenPower Motor Co., JBM Auto Ltd., Arrival, Blue Bird Corporation, ArcLight Clean Transition, Daimler AG, Anhui Ankai Automobile Co. Ltd, King Long United Automotive, New Flyer Industries, VDL GROEP BV, Construcciones y Auxiliar de Ferrocarriles, S.A., and other prominent players.

The global electric bus market is highly competitive and is dominated by multinational industry players. However, as an emerging market, electric buses are considered encouraging for new entrants. The market players offer a diverse product portfolio to cater to the needs of various end-users. Additionally, they are investing heavily in the launch of new products and ranges along with expanding their production capacity and improving their distribution channels. Furthermore, the adoption of competitive strategies, such as partnerships, mergers & acquisitions, joint ventures, etc., is also prominent in this market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global electric bus market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the electric bus market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Research Methodology

2.1. Qualitative Research
2.2. Methodology
2.3. Regional Split of Primary & Secondary Research
2.4. Secondary Research
2.5. Primary Research
2.5.1. Breakdown of Primary Research Respondents, By Region
2.5.2. Breakdown of Primary Research Respondents, By Industry Participants
2.6. Market Size Estimation
2.7. Assumptions for the Study
2.8. Market Breakdown & Data Triangulation

3. Executive Summary

4. Industry Insight and Growth Strategy

4.1. Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.1.1. Rising Government Investment In Public Transport
4.2.1.2. Launch Of Wide Range Of Electric Buses
4.2.2. Restraints
4.2.2.1. Lack of Sufficient Charging Points
4.2.3. Opportunities
4.2.3.1. High Cost of Electric Buses
4.2.4. Challenges
4.2.4.1. Growing Concern Towards Environment and Carbon-Emission
4.2.4.2. Rising Demand for Hydrogen Fuel Cells
4.3. Recent Developments
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Buyers
4.4.2. Bargaining Power of Suppliers
4.4.3. Intensity of Rivalry
4.4.4. Threat of New Entrants
4.4.5. Threat of Substitutes

5. Electric Bus Market Overview

5.1. Market Estimates & Forecast by Value, 2018-2028
5.2. Market Share & Forecast, by Segment
5.2.1. By Type
5.2.1.1. Battery Electric Bus
5.2.1.2. Plug-In Hybrid Electric Bus
5.2.1.3. Fuel Cell Electric Bus
5.2.2. By Battery Capacity
5.2.2.1. Up To 400 Kwh
5.2.2.2. Above 400 Kwh
5.2.3. By Vehicle Range
5.2.3.1. Up To 250 KW
5.2.3.2. Above 250 KW
5.2.4. By Battery Type
5.2.4.1. Lithium-Nickel-Manganese-Cobalt Oxide
5.2.4.2. Lithium-Iron-Phosphate
5.2.4.3. Others
5.2.5. By Length of Bus
5.2.5.1. < 9 Meters
5.2.5.2. 9-14 Meters
5.2.5.3. >14 Meters
5.2.6. By Component
5.2.6.1. Motor
5.2.6.2. Battery
5.2.6.3. Fuel Cell Stacks
5.2.6.4. Ultra Captivator
5.2.6.5. Others
5.2.7. By End-User
5.2.7.1. Private
5.2.7.2. Government
5.2.8. By Region
5.2.8.1. North America
5.2.8.2. Europe
5.2.8.3. Asia-Pacific (APAC)
5.2.8.4. Latin America (LATAM)
5.2.8.5. Middle-East & Africa (MEA)

6. North America Electric Bus Market Overview

6.1. Market Size and Forecast
6.1.1. By Value (USD Billion), 2018-2028
6.2. Market Share and Forecast
6.2.1. By Type
6.2.2. By Battery Capacity
6.2.3. By Vehicle Range
6.2.4. By Battery Type
6.2.5. By Length of Bus
6.2.6. By Component
6.2.7. By End-User
6.2.8. By Country
6.2.8.1. U.S.
6.2.8.2. Canada

7. Europe Electric Bus Market Overview

7.1. Market Size and Forecast
7.1.1. By Value (USD Billion), 2018-2028
7.2. Market Share and Forecast
7.2.1. By Type
7.2.2. By Battery Capacity
7.2.3. By Vehicle Range
7.2.4. By Battery Type
7.2.5. By Length of Bus
7.2.6. By Component
7.2.7. By End-User
7.2.8. By Country
7.2.8.1. Germany
7.2.8.2. U.K.
7.2.8.3. France
7.2.8.4. Italy
7.2.8.5. Spain
7.2.8.6. Netherlands
7.2.8.7. Rest of Europe

8. APAC Electric Bus Market Overview

8.1. Market Size and Forecast
8.1.1. By Value (USD Billion), 2018-2028
8.2. Market Share and Forecast
8.2.1. By Type
8.2.2. By Battery Capacity
8.2.3. By Vehicle Range
8.2.4. By Battery Type
8.2.5. By Length of Bus
8.2.6. By Component
8.2.7. By End-User
8.2.8. By Country
8.2.8.1. China
8.2.8.2. India
8.2.8.3. Japan
8.2.8.4. South Korea
8.2.8.5. Rest of APAC

9. LATAM Electric Bus Market Overview

9.1. Market Size and Forecast
9.1.1. By Value (USD Billion), 2018-2028
9.2. Market Share and Forecast
9.2.1. By Type
9.2.2. By Battery Capacity
9.2.3. By Vehicle Range
9.2.4. By Battery Type
9.2.5. By Length of Bus
9.2.6. By Component
9.2.7. By End-User
9.2.8. By Country
9.2.8.1. Mexico
9.2.8.2. Brazil
9.2.8.3. Rest of LATAM

10. MEA Electric Bus Market Overview

10.1. Market Size and Forecast
10.1.1. By Value (USD Billion), 2018-2028
10.2. Market Share and Forecast
10.2.1. By Type
10.2.2. By Battery Capacity
10.2.3. By Vehicle Range
10.2.4. By Battery Type
10.2.5. By Length of Bus
10.2.6. By Component
10.2.7. By End-User
10.2.8. By Country
10.2.8.1. Saudi Arabia
10.2.8.2. UAE
10.2.8.3. South Africa
10.2.8.4. Rest of MEA

11. Competitive Landscape

11.1. List of Key Players and Their Offerings
11.2. Market Share / Ranking Analysis (2021)
11.3. Competitive Benchmarking, By Operating Parameters

12. Impact of COVID-19 on Electric Bus Market

13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

13.1. Proterra
13.2. BYD Company
13.3. AB Volvo
13.4. Zhengzhou Yutong Bus Co. Ltd.
13.5. Goldstone Infratech Ltd.
13.6. Ashok Leyland
13.7. NFI Group
13.8. Lion Electric Company
13.9. GreenPower Motor Co.
13.10. JBM Auto Ltd.
13.11. Arrival
13.12. Blue Bird Corporation
13.13. ArcLight Clean Transition
13.14. Daimler AG
13.15. Anhui Ankai Automobile Co. Ltd
13.16. King Long United Automotive
13.17. New Flyer Industries
13.18. VDL GROEP BV
13.19. Construcciones y Auxiliar de Ferrocarriles, S.A.
13.20. Other Prominent Players

14. Key Strategic Recommendations

List of Figures

Figure 1: Electric Bus Market Segmentation
Figure 2: Electric Bus Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2021
Figure 4: Electric Bus Market Size, By Value (USD Billion), 2018-2028
Figure 5: Electric Bus Market Share (%), By Type, By Value, 2018-2028
Figure 6: Electric Bus Market Share (%), By Battery Capacity, By Value, 2018-2028
Figure 7: Electric Bus Market Share (%), By Vehicle Range, By Value, 2018-2028
Figure 8: Electric Bus Market Share (%), By Battery Type, By Value, 2018-2028
Figure 9: Electric Bus Market Share (%), By Length of Bus, By Value, 2018-2028
Figure 10: Electric Bus Market Share (%), By Component, By Value, 2018-2028
Figure 11: Electric Bus Market Share (%), By End-User, By Value, 2018-2028
Figure 12: Electric Bus Market Share (%), By Region, By Value, 2018-2028
Figure 13: North America Electric Bus Market Size, By Value (USD Billion), 2018-2028
Figure 14: North America Electric Bus Market Share (%), By Type, By Value, 2018-2028
Figure 15: North America Electric Bus Market Share (%), By Battery Capacity, By Value, 2018-2028
Figure 16: North America Electric Bus Market Share (%), By Vehicle Range, By Value, 2018-2028
Figure 17: North America Electric Bus Market Share (%), By Battery Type, By Value, 2018-2028
Figure 18: North America Electric Bus Market Share (%), By Length of Bus, By Value, 2018-2028
Figure 19: North America Electric Bus Market Share (%), By Component, By Value, 2018-2028
Figure 20: North America Electric Bus Market Share (%), By End-User, By Value, 2018-2028
Figure 21: North America Electric Bus Market Share (%), By Country, By Value, 2018-2028
Figure 22: Europe Electric Bus Market Size, By Value (USD Billion), 2018-2028
Figure 23: Europe Electric Bus Market Share (%), By Type, By Value, 2018-2028
Figure 24: Europe Electric Bus Market Share (%), By Battery Capacity, By Value, 2018-2028
Figure 25: Europe Electric Bus Market Share (%), By Vehicle Range, By Value, 2018-2028
Figure 26: Europe Electric Bus Market Share (%), By Battery Type, By Value, 2018-2028
Figure 27: Europes Electric Bus Market Share (%), By Length of Bus, By Value, 2018-2028
Figure 28: Europe Electric Bus Market Share (%), By Component, By Value, 2018-2028
Figure 29: Europe Electric Bus Market Share (%), by End-User, By Value, 2018-2028
Figure 30: Europe Electric Bus Market Share (%), By Country, By Value, 2018-2028
Figure 31: Asia-Pacific Electric Bus Market Size, By Value (USD Billion), 2018-2028
Figure 32: Asia-Pacific Electric Bus Market Share (%), By Type, By Value, 2018-2028
Figure 33: Asia-Pacific Electric Bus Market Share (%), By Battery Capacity, By Value, 2018-2028
Figure 34: Asia-Pacific Electric Bus Market Share (%), By Vehicle Range, By Value, 2018-2028
Figure 35: Asia-Pacific Electric Bus Market Share (%), By Battery Type, By Value, 2018-2028
Figure 36: Asia-Pacific Electric Bus Market Share (%), By Length of Bus, By Value, 2018-2028
Figure 37: Asia-Pacific Electric Bus Market Share (%), By Component, By Value, 2018-2028
Figure 38: Asia-Pacific Electric Bus Market Share (%), By End-User, By Value, 2018-2028
Figure 39: Asia-Pacific Electric Bus Market Share (%), By Country, By Value, 2018-2028
Figure 40: Latin America Electric Bus Market Size, By Value (USD Billion), 2018-2028
Figure 41: Latin America Electric Bus Market Share (%), By Type, By Value, 2018-2028
Figure 42: Latin America Electric Bus Market Share (%), By Battery Capacity, By Value, 2018-2028
Figure 43: Latin America Electric Bus Market Share (%), By Vehicle Range, By Value, 2018-2028
Figure 44: Latin America Electric Bus Market Share (%), By Battery Type, By Value, 2018-2028
Figure 44: Latin America Electric Bus Market Share (%), By Length of Bus, By Value, 2018-2028
Figure 45: Latin America Electric Bus Market Share (%), By Component, By Value, 2018-2028
Figure 46: Latin America Electric Bus Market Share (%), By End-User, By Value, 2018-2028
Figure 47: Latin America Electric Bus Market Share (%), By Country, By Value, 2018-2028
Figure 48: Middle East & Africa Electric Bus Market Size, By Value (USD Billion), 2018-2028
Figure 49: Middle East & Africa Electric Bus Market Share (%), By Type, By Value, 2018-2028
Figure 50: Middle East & Africa Electric Bus Market Share (%), By Battery Capacity, By Value, 2018-2028
Figure 51: Middle East & Africa Electric Bus Market Share (%), By Vehicle Range, By Value, 2018-2028
Figure 52: Middle East & Africa Electric Bus Market Share (%), By Battery Type, By Value, 2018-2028
Figure 53: Middle East & Africa Electric Bus Market Share (%), By Length of Bus, By Value, 2018-2028
Figure 54: Middle East & Africa Electric Bus Market Share (%), By Component, By Value, 2018-2028
Figure 55: Middle East & Africa Electric Bus Market Share (%), By End-User, By Value, 2018-2028
Figure 56: Middle East & Africa Electric Bus Market Share (%), By Region, By Value, 2018-2028

List of Tables

Table 1: Global Electric Bus Market Size, By Type, By Value, 2018-2028
Table 2: Global Electric Bus Market Size, By Battery Capacity, By Value (USD Billion), 2018-2028
Table 3: Global Electric Bus Market Size, By Vehicle Range, By Value (USD Billion), 2018-2028
Table 4: Global Electric Bus Market Size, By Battery Type, By Value (USD Billion), 2018-2028
Table 5: Global Electric Bus Market Size, By Length of Bus, By Value (USD Billion), 2018-2028
Table 6: Global Electric Bus Market Size, By Component, By Value (USD Billion), 2018-2028
Table 7: Global Electric Bus Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 8: Global Electric Bus Market Size, By Region, By Value (USD Billion), 2018-2028
Table 9: North America Electric Bus Market Size, By Type, By Value (USD Billion), 2018-2028
Table 10: North America Electric Bus Market Size, By Battery Capacity, By Value (USD Billion), 2018-2028
Table 11: North America Electric Bus Market Size, By Vehicle Range, By Value (USD Billion), 2018-2028
Table 12: North America Electric Bus Market Size, By Battery Type, By Value (USD Billion), 2018-2028
Table 13: North America Electric Bus Market Size, By Length of Bus, By Value (USD Billion), 2018-2028
Table 14: North America Electric Bus Market Size, By Component, By Value (USD Billion), 2018-2028
Table 15: North America Electric Bus Market Size, By End-User, By Value (USD Billion), 2018-2028,
Table 16: Europe Electric Bus Market Size, By Type, By Value (USD Billion), 2018-2028
Table 17: Europe Electric Bus Market Size, By Battery Capacity, By Value (USD Billion), 2018-2028
Table 18: Europe Electric Bus Market Size, By Vehicle Range, By Value (USD Billion), 2018-2028
Table 19: Europe Electric Bus Market Size, By Battery Type, By Value (USD Billion), 2018-2028
Table 20: Europe Electric Bus Market Size, By Length of Bus, By Value (USD Billion), 2018-2028
Table 21: Europe Electric Bus Market Size, By Component, By Value (USD Billion), 2018-2028
Table 22: Europe Electric Bus Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 23: the Asia-Pacific Electric Bus Market Size, By Type, By Value (USD Billion), 2018-2028
Table 24: the Asia-Pacific Electric Bus Market Size, By Battery Capacity, By Value (USD Billion), 2018-2028
Table 25: the Asia-Pacific Electric Bus Market Size, By Vehicle Range, By Value (USD Billion), 2018-2028
Table 26: the Asia-Pacific Electric Bus Market Size, By Battery Type, By Value (USD Billion), 2018-2028
Table 27: the Asia-Pacific Electric Bus Market Size, By Length of Bus, By Value (USD Billion), 2018-2028
Table 28: the Asia-Pacific Electric Bus Market Size, By Component, By Value (USD Billion), 2018-2028
Table 29: the Asia-Pacific Electric Bus Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 30: Latin America Electric Bus Market Size, By Type, By Value (USD Billion), 2018-2028
Table 31: Latin America Electric Bus Market Size, By Battery Capacity, By Value (USD Billion), 2018-2028
Table 32: Latin America Electric Bus Market Size, By Vehicle Range, By Value (USD Billion), 2018-2028
Table 33: Latin America Electric Bus Market Size, By Battery Type, By Value (USD Billion), 2018-2028
Table 34: Latin America Electric Bus Market Size, By Length of Bus, By Value (USD Billion), 2018-2028
Table 35: Latin America Electric Bus Market Size, By Component, By Value (USD Billion), 2018-2028
Table 36: Latin America Electric Bus Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 37: The Middle-East & Africa Electric Bus Market Size, By Type, By Value (USD Billion), 2018-2028
Table 38: The Middle-East & Africa Electric Bus Market Size, By Battery Capacity, By Value (USD Billion), 2018-2028
Table 39: The Middle-East & Africa Electric Bus Market Size, By Vehicle Range, By Value (USD Billion), 2018-2028
Table 40: The Middle-East & Africa Electric Bus Market Size, By Battery Type, By Value (USD Billion), 2018-2028
Table 41: The Middle-East & Africa Electric Bus Market Size, By Length of Bus, By Value (USD Billion), 2018-2028
Table 42: The Middle-East & Africa Electric Bus Market Size, By Component, By Value (USD Billion), 2018-2028
Table 43: The Middle-East & Africa Electric Bus Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 44: Proterra Financial Analysis
Table 45: Proterra Business Overview
Table 46: BYD Company Financial Analysis
Table 47: BYD Company Business Overview
Table 48: AB Volvo Corporation Financial Analysis
Table 49: AB Volvo Corporation Business Overview
Table 50: Zhengzhou Yutong Bus Co. Ltd. Financial Analysis
Table 51: Zhengzhou Yutong Bus Co. Ltd. Business Overview
Table 52: Goldstone Infratech Ltd. Financial Analysis
Table 53: Goldstone Infratech Ltd. Business Overview
Table 54: Ashok Layland Financial Analysis
Table 55: Ashok Layland Business Overview
Table 56: NFI Group Financial Analysis
Table 57: NFI Group Business Overview
Table 58: Lion Electric Company Financial Analysis
Table 59: Lion Electric Company Business Overview
Table 60: GreenPower Motor Co. Financial Analysis
Table 61: GreenPower Motor Co. Business Overview
Table 62: JBM Auto Ltd. Financial Analysis
Table 63: JBM Auto Ltd. Business Overview
Table 64: Arrival Financial Analysis
Table 65: Arrival Financial Analysis
Table 66: Blue Bird Corporation Financial Analysis
Table 67: Blue Bird Corporation Financial Analysis
Table 68: ArcLight Clean Transition Financial Analysis
Table 69: ArcLight Clean Transition Financial Analysis
Table 70: Daimler AG Financial Analysis
Table 71: Daimler AG Financial Analysis
Table 72: Anhui Ankai Automobile Co. Ltd Financial Analysis
Table 73: Anhui Ankai Automobile Co. Ltd Financial Analysis
Table 74: King Long United Automotive Financial Analysis
Table 75: King Long United Automotive Financial Analysis
Table 76: New Flyer Industries Financial Analysis
Table 77: New Flyer Industries Financial Analysis
Table 78: VDL GROEP BV Financial Analysis
Table 79: VDL GROEP BV Financial Analysis
Table 80: Construcciones y Auxiliar de Ferrocarriles, S.A. Financial Analysis
Table 81: Construcciones y Auxiliar de Ferrocarriles, S.A. Financial Analysis