The APAC electric bus market is expected to grow from US$ 26,375.34 million in 2021 to US$ 95,862.19 million by 2028; it is estimated to grow at a CAGR of 20.2% from 2021 to 2028.
Autonomous and semiautonomous transportation systems have emerged due to advancements in instrumentation, actuation, and sensing technologies. Light detection and ranging (LiDAR), odometer, a global positioning system (GPS), and computer-aided vision are all advancements that let autonomous buses perceive their environment. Autonomous driving has gained popularity in the electric bus industry due to advanced technology (more predictable transit times) and lower fuel, labor, and maintenance costs. Original equipment manufacturers (OEMs) are embracing autonomous driving and creating autonomous bus shuttles. For instance, the first full-sized self-driving urban electric bus has arrived in the region. Cities will soon be home to electric and self-driving buses. Meanwhile, a multinational company, Huawei, has built a 4 km test track for self-driving buses. Thus, the emergence of autonomous and semiautonomous transportation systems is expected to drive the electric bus market across the region in the near future.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC electric bus market . The APAC electric bus market is expected to grow at a good CAGR during the forecast period.
AB Volvo; BYD Company Ltd; CAF Group (Solaris Bus & Coach); Daimler AG; King Long United Automotive Industry Co., Ltd; NFI Group; Shenzhen Wuzhoulong Motors Co., Ltd; and Van Hool NV are among the leading companies in the APAC electric bus market.
Autonomous and semiautonomous transportation systems have emerged due to advancements in instrumentation, actuation, and sensing technologies. Light detection and ranging (LiDAR), odometer, a global positioning system (GPS), and computer-aided vision are all advancements that let autonomous buses perceive their environment. Autonomous driving has gained popularity in the electric bus industry due to advanced technology (more predictable transit times) and lower fuel, labor, and maintenance costs. Original equipment manufacturers (OEMs) are embracing autonomous driving and creating autonomous bus shuttles. For instance, the first full-sized self-driving urban electric bus has arrived in the region. Cities will soon be home to electric and self-driving buses. Meanwhile, a multinational company, Huawei, has built a 4 km test track for self-driving buses. Thus, the emergence of autonomous and semiautonomous transportation systems is expected to drive the electric bus market across the region in the near future.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC electric bus market . The APAC electric bus market is expected to grow at a good CAGR during the forecast period.
APAC Electric Bus Market Segmentation
The APAC electric bus market is segmented based on vehicle type, hybrid powertrain, battery, end user, and country. Based on vehicle type, the market is segmented into the battery-electric bus, hybrid electric bus, and plug-in hybrid electric bus. The battery-electric bus segment dominated the market in 2021. Based on hybrid powertrain, the market is segmented into series-parallel hybrid, parallel hybrid, and series hybrid. The parallel hybrid segment dominated the market in 2021. Based on battery, the market is bifurcated into lithium iron phosphate (LIP) and lithium nickel manganese cobalt oxide (NMC). The lithium iron phosphate (LIP) segment dominated the market in 2021. Based on end user, the market is bifurcated into public and private. The public segment dominated the market in 2021. Based on country, the APAC electric bus market is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. China dominated the market in 2021.AB Volvo; BYD Company Ltd; CAF Group (Solaris Bus & Coach); Daimler AG; King Long United Automotive Industry Co., Ltd; NFI Group; Shenzhen Wuzhoulong Motors Co., Ltd; and Van Hool NV are among the leading companies in the APAC electric bus market.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Electric Bus Market - By Vehicle Type
1.3.2 APAC Electric Bus Market - By Hybrid Powertrain
1.3.3 APAC Electric Bus Market - By Battery
1.3.4 APAC Electric Bus Market - By End User
1.3.5 APAC Electric Bus Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Electric Bus Market Landscape
4.1 Market Overview
4.3 APAC PEST Analysis
4.4 Ecosystem Analysis
4.5 Expert Opinion
5. APAC Electric Bus Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Hydrogen Fuel Bus
5.1.2 Stringent Government Emission Regulations
5.2 Market Restraints
5.2.1 High Installation Cost
5.3 Market Opportunities
5.3.1 Surging Production of Low-cost Lithium ion-Phosphate Batteries
5.4 Future Trends
5.4.1 Rise of Autonomous and Semi-Autonomous Transportation System
5.5 Impact Analysis of Drivers and Restraints
6. Electric Bus Market - APAC Analysis
6.1 APAC Electric Bus Market Overview
6.2 APAC Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
7. APAC Electric Bus Market Analysis - By Vehicle Type
7.1 Overview
7.2 APAC Electric Bus Market, By Vehicle Type (2020 and 2028)
7.3 Battery Electric Bus
7.3.1 Overview
7.3.2 Battery Electric Bus: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Hybrid Electric Bus
7.4.1 Overview
7.4.2 Hybrid Electric Bus: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Plug-in Hybrid Electric Bus
7.5.1 Overview
7.5.2 Plug-in Hybrid Electric Bus: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
8. APAC Electric Bus Market Analysis - By Hybrid Powertrain
8.1 Overview
8.2 APAC Electric Bus Market, By Hybrid Powertrain (2020 and 2028)
8.3 Series Parallel Hybrid
8.3.1 Overview
8.3.2 Series Parallel Hybrid: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Parallel Hybrid
8.4.1 Overview
8.4.2 Parallel Hybrid: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Series Hybrid
8.5.1 Overview
8.5.2 Series Hybrid: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
9. APAC Electric Bus Market Analysis - By Battery
9.1 Overview
9.2 APAC Electric Bus Market, By Battery (2020 and 2028)
9.3 Lithium Iron Phosphate (LFP)
9.3.1 Overview
9.3.2 Lithium Iron Phosphate (LFP): Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Lithium Nickel Manganese Cobalt Oxide (NMC)
9.4.1 Overview
9.4.2 Lithium Nickel Manganese Cobalt Oxide (NMC): Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
10. APAC Electric Bus Market Analysis - By End User
10.1 Overview
10.2 APAC Electric Bus Market, By End User (2020 and 2028)
10.3 Public
10.3.1 Overview
10.3.2 Public: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Private
10.5.1 Overview
10.5.2 Private: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
11. APAC Electric Bus Market - Country Analysis
11.1 Overview
11.1.1 APAC: Electric Bus Market, by Key Country
11.1.1.1 Australia: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Australia: Electric Bus Market, By Vehicle Type
11.1.1.1.2 Australia: Electric Bus Market, By Hybrid Powertrain
11.1.1.1.3 Australia: Electric Bus Market, By Battery
11.1.1.1.4 Australia: Electric Bus Market, By End User
11.1.1.2 China: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 China: Electric Bus Market, By Vehicle Type
11.1.1.2.2 China: Electric Bus Market, By Hybrid Powertrain
11.1.1.2.3 China: Electric Bus Market, By Battery
11.1.1.2.4 China: Electric Bus Market, By End User
11.1.1.3 India: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 India: Electric Bus Market, By Vehicle Type
11.1.1.3.2 India: Electric Bus Market, By Hybrid Powertrain
11.1.1.3.3 India: Electric Bus Market, By Battery
11.1.1.3.4 India: Electric Bus Market, By End User
11.1.1.4 Japan: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Japan: Electric Bus Market, By Vehicle Type
11.1.1.4.2 Japan: Electric Bus Market, By Hybrid Powertrain
11.1.1.4.3 Japan: Electric Bus Market, By Battery
11.1.1.4.4 Japan: Electric Bus Market, By End User
11.1.1.5 South Korea: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 South Korea: Electric Bus Market, By Vehicle Type
11.1.1.5.2 South Korea: Electric Bus Market, By Hybrid Powertrain
11.1.1.5.3 South Korea: Electric Bus Market, By Battery
11.1.1.5.4 South Korea: Electric Bus Market, By End User
11.1.1.6 Rest of APAC: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of APAC: Electric Bus Market, By Vehicle Type
11.1.1.6.2 Rest of APAC: Electric Bus Market, By Hybrid Powertrain
11.1.1.6.3 Rest of APAC: Electric Bus Market, By Battery
11.1.1.6.4 Rest of APAC: Electric Bus Market, By End User
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Development
13. Company Profiles
13.1 AB Volvo
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 King Long United Automotive Industry Co., Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Shenzhen Wuzhoulong Motors Co., Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 BYD Company Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Daimler AG
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 CAF Group (Solaris Bus & Coach)
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 NFI Group
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Van Hool NV
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index List of Figures
Figure 1. APAC Electric Bus Market Segmentation
Figure 2. APAC Electric Bus Market Segmentation - By Country
Figure 3. APAC Electric Bus Market Overview
Figure 4. APAC Electric Bus Market, By Vehicle Type
Figure 5. APAC Electric Bus Market, By Country
Figure 6. APAC: PEST Analysis
Figure 7. Expert Opinion
Figure 8. APAC Electric Bus Market: Impact Analysis of Drivers and Restraints
Figure 9. APAC Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. APAC Electric Bus Market Revenue Share, By Vehicle Type (2020 and 2028)
Figure 11. APAC Battery Electric Bus: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Hybrid Electric Bus: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Plug-in Hybrid Electric Bus: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Electric Bus Market Revenue Share, By Hybrid Powertrain (2020 and 2028)
Figure 15. APAC Series Parallel Hybrid: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Parallel Hybrid: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Series Hybrid: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Electric Bus Market Revenue Share, By Battery (2020 and 2028)
Figure 19. APAC Lithium Iron Phosphate (LFP): Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Lithium Nickel Manganese Cobalt Oxide (NMC): Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Electric Bus Market Revenue Share, By End User (2020 and 2028)
Figure 22. APAC Public: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. APAC Private: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. APAC: Electric Bus Market, by Key Country - Revenue (2020) (US$ Million)
Figure 25. APAC: Electric Bus Market Revenue Share, by Key Country (2020 & 2028)
Figure 26. Australia: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. China: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. India: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Japan: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 30. South Korea: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of APAC: Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
List of Tables
Table 1. APAC Electric Bus Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Electric Bus Market, by Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Electric Bus Market, By Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Electric Bus Market, By Hybrid Powertrain - Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Electric Bus Market, By Battery - Revenue and Forecast to 2028 (US$ Million)
Table 6. Australia: Electric Bus Market, By End User - Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Electric Bus Market, By Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 8. China: Electric Bus Market, By Hybrid Powertrain - Revenue and Forecast to 2028 (US$ Million)
Table 9. China: Electric Bus Market, By Battery - Revenue and Forecast to 2028 (US$ Million)
Table 10. China: Electric Bus Market, By End User - Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Electric Bus Market, By Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 12. India: Electric Bus Market, By Hybrid Powertrain - Revenue and Forecast to 2028 (US$ Million)
Table 13. India: Electric Bus Market, By Battery - Revenue and Forecast to 2028 (US$ Million)
Table 14. India: Electric Bus Market, By End User - Revenue and Forecast to 2028 (US$ Million)
Table 15. Japan: Electric Bus Market, By Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 16. Japan: Electric Bus Market, By Hybrid Powertrain - Revenue and Forecast to 2028 (US$ Million)
Table 17. Japan: Electric Bus Market, By Battery - Revenue and Forecast to 2028 (US$ Million)
Table 18. Japan: Electric Bus Market, By End User - Revenue and Forecast to 2028 (US$ Million)
Table 19. South Korea: Electric Bus Market, By Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 20. South Korea: Electric Bus Market, By Hybrid Powertrain - Revenue and Forecast to 2028 (US$ Million)
Table 21. South Korea: Electric Bus Market, By Battery - Revenue and Forecast to 2028 (US$ Million)
Table 22. South Korea: Electric Bus Market, By End User - Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of APAC: Electric Bus Market, By Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of APAC: Electric Bus Market, By Hybrid Powertrain - Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of APAC: Electric Bus Market, By Battery - Revenue and Forecast to 2028 (US$ Million)
Table 26. Rest of APAC: Electric Bus Market, By End User - Revenue and Forecast to 2028 (US$ Million)
Table 27. List of Abbreviation
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AB Volvo
- BYD Company Ltd
- CAF Group (Solaris Bus & Coach)
- Daimler AG
- King Long United Automotive Industry Co., Ltd
- NFI Group
- Shenzhen Wuzhoulong Motors Co., Ltd
- Van Hool NV.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 125 |
| Published | August 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 26375.34 Million |
| Forecasted Market Value ( USD | $ 95862.19 Million |
| Compound Annual Growth Rate | 20.2% |
| Regions Covered | Asia Pacific |
