Global Electric Bus
Market Report
2024
The global Electric Bus Market size is USD 20 billion in 2024. The Electric Bus Market will show the strongest growth with a compound annual growth rate (CAGR) of 15% from 2024 to 2031. This growth can be attributed to increasing dependence on automated technology.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Electric Bus Market size will be USD 20 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 15% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Propulsion |
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Market Split by Battery Type |
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Market Split by Consumer |
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Market Split by Length of Bus |
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Market Split by Seating Capacity |
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Market Split by Level of Autonomy |
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Market Split by Range |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Electric Bus industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Electric Bus Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Electric bus market refers to the segment of the transportation industry focused on the manufacturing, sales, and operation of buses powered by electric propulsion systems. These buses utilize electric motors and batteries instead of traditional internal combustion engines, resulting in zero tailpipe emissions and reduced environmental impact. The market encompasses various types of electric buses, including battery electric buses (BEBs), plug-in hybrid electric buses (PHEBs), and fuel cell electric buses (FCEBs). Factors driving the growth of this market include increasing concerns about air pollution, government initiatives promoting clean transportation, advancements in battery technology, and a growing awareness of the need for sustainable urban mobility solutions.
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In January 2022, the Valley Transportation Authority (VTA) in Santa Clara City, U.S., will install an innovative clean energy microgrid and E.V. fleet charging system with Proterra and Scale Microgrid Solutions. This project will showcase how clean energy paired with fleet-scale E.V. charging can enable the adoption of fully electric vehicle fleets. Expected to come online in late 2023, it will help VTA further reduce greenhouse gas emissions. (Source: https://ir.proterra.com/news/news-details/2022/VTA-partners-with-Proterra-and-Scale-Microgrid-Solutions-to-charge-34-electric-buses-with-solar-powered-microgrid/default.aspx)
Top Companies Market Share in Electric Bus Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America emerged as the dominant region in the Electric Bus Market due to environmental regulations and increasing demand for sustainable transportation. As of 2024, the U.S. and Canada are leading the region's adoption of electric buses, with initiatives to reduce carbon emissions and urban pollution. Government incentives, such as the U.S. federal and state-level subsidies, the Infrastructure Investment and Jobs Act, and Canada’s Zero-Emission Transit Fund, are accelerating market expansion. Urban areas in the U.S., particularly California and New York, are at the forefront, implementing policies to transition public transit fleets to electric.
Asia-Pacific stands out as the fastest-growing region in the Electric Bus Market due to government subsidies, urban air quality initiatives, and advancements by companies like BYD and Yutong. India follows, spurred by the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program, aiming to curb pollution in major cities. Japan and South Korea are also investing in electrification, emphasizing technological innovations and the reduction of greenhouse gas emissions. Southeast Asian nations such as Singapore, Malaysia, and Indonesia are starting to adopt electric buses, focusing on sustainable public transport solutions.
The current report Scope analyzes Electric Bus Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Electric Bus Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Electric Bus Industry growth. Electric Bus market has been segmented with the help of its Propulsion, Battery Type Consumer, and others. Electric Bus market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, BEVs, which rely solely on batteries for power, cater to urban and suburban public transportation due to their lower operational costs and environmental benefits. The urban segment is particularly strong, driven by government incentives, stringent emission regulations, and consumer preference for greener transit solutions. Municipalities and private operators are investing in BEVs to replace aging diesel fleets and to meet climate goals. The global market is growing, with significant adoption in regions like North America, Europe, and China, where supportive infrastructure and favorable policies are present. Challenges include high initial costs and limited range, but decreasing battery prices and technological improvements are enhancing their appeal, driving broader adoption across various transport applications.
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Electric Bus from 2019 to 2031. This will also help to analyze the demand for Electric Bus across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Battery Type of Electric Bus are:
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Senior Research Analyst at Cognitive Market Research
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Electric Bus Market is witnessing significant growth in the near future.
In 2023, the BEVS segment accounted for noticeable share of global Electric Bus Market and is projected to experience significant growth in the near future.
The NMC batteries segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies BYD (China) , Proterra (US) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Propulsion | BEVS, FCEVS |
Battery Type | NMC batteries, LFP batteries, NCA batteries, Other batteries |
Consumer | Government, Private |
Length of Bus | Up to 9 m, 9-14 m, Above 14 m |
Seating Capacity | Up to 40 Seats, 40-70 Seats, Above 70 Seats |
Level of Autonomy | Semi-autonomous, Autonomous |
Range | Up to 200 Miles, Above 200 Miles |
Application | Intercity, Intracity |
List of Competitors | BYD (China), Yutong (China), Proterra (US), CAF (Solaris) (Spain), VDL Groep (Netherlands), AB Volvo (Sweden) |
This chapter will help you gain GLOBAL Market Analysis of Electric Bus. Further deep in this chapter, you will be able to review Global Electric Bus Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Propulsion Analysis 2019 -2031, will provide market size split by Propulsion. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Propulsion Analysis 2019 -2031
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Chapter 11 Market Split by Battery Type Analysis 2019 -2031
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Chapter 12 Market Split by Consumer Analysis 2019 -2031
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Chapter 13 Market Split by Length of Bus Analysis 2019 -2031
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Chapter 14 Market Split by Seating Capacity Analysis 2019 -2031
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Chapter 15 Market Split by Level of Autonomy Analysis 2019 -2031
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Chapter 16 Market Split by Range Analysis 2019 -2031
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Chapter 17 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Electric Bus market
Chapter 18 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why BEVS have a significant impact on Electric Bus market? |
What are the key factors affecting the BEVS and FCEVS of Electric Bus Market? |
What is the CAGR/Growth Rate of NMC batteries during the forecast period? |
By type, which segment accounted for largest share of the global Electric Bus Market? |
Which region is expected to dominate the global Electric Bus Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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