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United States Electric Bus Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

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    Report

  • 134 Pages
  • January 2023
  • Region: United States
  • Mordor Intelligence
  • ID: 5717144
The United States Electric Bus Market is projected to register a CAGR of 14.72%

Key Highlights

  • Largest Segment by Fuel Type - HEV: Public and private investments made over the last two decades have developed the buses to compete with ICE-based buses. Which is making Hybrid buses the largest fuel type in US e-bus market.
  • Fastest-growing Segment by Fuel Type - BEV: Assistance from both government and private programs to cut carbon emission, and development in charging infrastructure is making BEV the fastest growing fuel type in buses in the US.

Key Market Trends

HEV is the largest segment by Fuel Type.

  • The FTA offers a number of grant programs, many of which have been used to purchase electric buses. In 2018, the Low or No Emission Grant program awarded grants to over 50 state and local governments, totaling USD 85 million. In addition, in 2018, FTA announced that it had awarded USD 264 million in grants to 139 projects under its Buses and Bus Facilities Infrastructure Investment Program. These programs, along with the DOT’s Congestion Mitigation and Air Quality Improvement Program and State of Good Repair Program, are grant programs that state and local governments apply for on an annual basis. Other federal grant programs include the School Bus Rebate Program, Urbanized Area Formula Funding Program, and BUILD Discretionary Grant Program.
  • According to estimates, the US electric bus industry brought in USD 490.6 million in revenue in 2021 at a CAGR of 31.4% from 2021 to 2028. Environmental benefits, stricter emission-reduction regulations, the availability of local, state, and federal funding for zero-emission buses, long-term economic benefits to transit agencies, declining battery costs, and increased operational efficiencies are the main driving forces behind the market's expansion.
  • In the United States, the EPA and NHTSA proposed the implementation of the Safer Affordable Fuel-Efficient (SAFE) Vehicles rule to be effective from 2021 to 2028. The rule may set corporate average fuel economy standards and greenhouse gas emissions for passenger and commercial vehicles. The Zero-Emission Vehicles (ZEV) Program requires OEMs to sell specific numbers of clean and zero-emission vehicles (electric, hybrid, and fuel cell-powered commercial and passenger vehicles). The ZEV plan aims to put 12 million ZEVs on the road in the country by 2030.


Competitive Landscape

The United States Electric Bus Market is moderately consolidated, with the top five companies occupying 62.90%. The major players in this market are BYD Co. Ltd., GILLIG LLC, Lion Electric Company, NFI Group Inc. and Proterra Inc. (sorted alphabetically).

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

Table of Contents

1 EXECUTIVE SUMMARY & KEY FINDINGS

2 REPORT OFFERS

3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study​
3.3 Research Methodology

4 KEY INDUSTRY TRENDS
4.1 Population
4.2 GDP
4.3 CVP
4.4 Inflation Rate
4.5 Interest Rate For Auto Loans
4.6 Battery Price (per Kwh)
4.7 Electrification Impact
4.8 New XEV Models Announced
4.9 Charging Stations Deployment
4.10 Regulatory Framework
4.11 Value Chain & Distribution Channel Analysis

5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 BEV
5.1.2 FCEV
5.1.3 HEV
5.1.4 PHEV

6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Blue Bird Corporation
6.4.2 BYD Co. Ltd.
6.4.3 Daimler AG
6.4.4 GILLIG LLC
6.4.5 GreenPower Motor Company Inc.
6.4.6 Lion Electric Company
6.4.7 NFI Group Inc.
6.4.8 Proterra Inc.
6.4.9 REV Group Inc.
6.4.10 Volvo Group

7 KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Blue Bird Corporation
  • BYD Co. Ltd.
  • Daimler AG
  • GILLIG LLC
  • GreenPower Motor Company Inc.
  • Lion Electric Company
  • NFI Group Inc.
  • Proterra Inc.
  • REV Group Inc.
  • Volvo Group

Methodology

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