The Mexico electric bus market size reached USD 245.32 Million in 2024. The market is projected to grow at a CAGR of 27.60% between 2025 and 2034, reaching almost USD 2.80 billion by 2034.
Some of the key factors aiding the Mexico electric bus market expansion are the shift towards renewable resources and the growing focus on promoting decarbonisation in the country. Expanding EV charging infrastructure in the country is also surging the deployment of electric buses.
Proactive government measures to save crucial mineral resources and develop an electrification roadmap are expected to propel the Mexico electric bus market. For example, lithium was recognised as a strategic mineral reserve by the Mexican government in April 2022 and it announced that a newly established public entity would manage its value chain entirely. This is one of the key Mexico electric bus market trends.
Collaboration with neighbouring countries like the USA for mitigating the adverse effects of climate change is expected to favour the Mexico electric bus market growth. The Mexican government has set a target of electrifying 50% of all vehicle production by 2030 and the United States is expected to play a key role in strengthening regional supply chain networks for electric vehicles (including buses) in the market.
Private ownership is expected to account for a significant Mexico automotiveelectric bus marketshare due to their innovative technologies. For example, Volvo's BZL technology aids the design of powerful and noiseless electric buses. Its latest buses launched in the Mexican market have predictive safety systems that ensure the security of cyclists/pedestrians. This is expected to drive the market growth in the forecast period.
Some of the key factors aiding the Mexico electric bus market expansion are the shift towards renewable resources and the growing focus on promoting decarbonisation in the country. Expanding EV charging infrastructure in the country is also surging the deployment of electric buses.
Proactive government measures to save crucial mineral resources and develop an electrification roadmap are expected to propel the Mexico electric bus market. For example, lithium was recognised as a strategic mineral reserve by the Mexican government in April 2022 and it announced that a newly established public entity would manage its value chain entirely. This is one of the key Mexico electric bus market trends.
Collaboration with neighbouring countries like the USA for mitigating the adverse effects of climate change is expected to favour the Mexico electric bus market growth. The Mexican government has set a target of electrifying 50% of all vehicle production by 2030 and the United States is expected to play a key role in strengthening regional supply chain networks for electric vehicles (including buses) in the market.
Private ownership is expected to account for a significant Mexico automotiveelectric bus marketshare due to their innovative technologies. For example, Volvo's BZL technology aids the design of powerful and noiseless electric buses. Its latest buses launched in the Mexican market have predictive safety systems that ensure the security of cyclists/pedestrians. This is expected to drive the market growth in the forecast period.
Market Segmentation
Mexico Electric Bus Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Propulsion:
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
Market Breakup by Length:
- Less Than 9 Meters
- 9-14 Meters
- Above 14 Meters
Market Breakup by Power Output:
- Up to 250kW
- Above 250kW
Market Breakup by Battery Capacity:
- Up to 400 kWh
- Above 400 kWh
Market Breakup by Application:
- Intercity
- Intracity
Market Breakup by Ownership:
- Private
- Government
Competitive Landscape
The key Mexico electric bus market players are:
- BYD Motors Inc.
- Mercedes-Benz Group AG
- AB Volvo
- Hyundai Motor Co.
- Yutong Bus Co., Ltd.
- Higer Bus Company Limited
- Liaoning SG Automotive Group Co., Ltd.
- Xiamen King Long International Trading Co., Ltd.
- Anhui Ankai Automobile Co. Ltd.
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Latin America Electric Bus Market Overview
6 Mexico Electric Bus Market Overview
7 Mexico Electric Bus Market by Propulsion
8 Mexico Electric Bus Market by Length
9 Mexico Electric Bus Market by Power Output
10 Mexico Electric Bus Market by Battery Capacity
11 Mexico Electric Bus Market by Application
12 Mexico Electric Bus Market by Ownership
13 Market Dynamics
14 Competitive Landscape
Companies Mentioned
- BYD Motors Inc.
- Mercedes-Benz Group AG
- AB Volvo
- Hyundai Motor Co.
- Yutong Bus Co., Ltd.
- Higer Bus Company Limited
- Liaoning SG Automotive Group Co., Ltd.
- Xiamen King Long International Trading Co., Ltd.
- Anhui Ankai Automobile Co. Ltd.
