17-May-2024 | Facts and Factors
Findings from Facts and Factors report “Electric Bus Market Size, Share, Growth Analysis Report By Vehicle Type (Battery Electric Buses, and Hybrid Electric Buses), By Range (Short-range (<150 miles) and Long-range (>150 miles)), By Battery Technology (Lithium-ion Batteries and Solid-state Batteries), By End-Use (City Transit Buses, and Intercity Coaches), By Ownership (Public and Private), And By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2024 – 2032” states that the global electric bus market was around USD 39.45 billion in 2023. The market is expected to grow at a CAGR of over 17.9% and is anticipated to exceed USD 174.26 Billion by 2032.
Gasoline-based vehicles are the leading cause of air pollution worldwide. The increasing carbon and other hazardous gases emission due to fuel combustion have been leveling up the global warming effect. To combat such a situation, several government agencies and policymakers are seeking to launch low and zero-emission vehicles. Although natural gas-based public transport system is succeeded to some extent in controlling the swiftly rising air pollution, electric buses are gaining prominence to eradicate this global concern owing to their zero-emission characteristic. Thus, the demand for electric buses in different regions across the globe is flourishing substantially and propelling the global electric bus market.
Browse the full “Electric Bus Market Size, Share, Growth Analysis Report By Vehicle Type (Battery Electric Buses, and Hybrid Electric Buses), By Range (Short-range (<150 miles) and Long-range (>150 miles)), By Battery Technology (Lithium-ion Batteries and Solid-state Batteries), By End-Use (City Transit Buses, and Intercity Coaches), By Ownership (Public and Private), And By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2024 – 2032" https://www.fnfresearch.com/electric-bus-market
Besides, the major amount of the globally extracted crude oil is consumed by public transportation systems in several regions. All the countries are focused to slash the import and consumption rate of oil. Thus, the adoption of electric vehicles is an effective alternative for this condition. However, electric buses are quite expensive compared to gasoline-based vehicles, which is likely to hamper the global electric bus market.
By bus type, the 9–14 m segment to hold the dominating position in the global electric bus market throughout the study timeframe
Based on the length of the bus, the electric bus market is categorized into less than 9m, 9–14 m, and above 14 m. The 9–14 m segment is likely to hold the major volume share of the global electric bus market from 2020 to 2026. The 9–14 m segment is leading among all the size-based electric bus segments. Based on the actual figures, the electric bus fleet for public transportation in China comprises the major share of the electric buses that are 9–14 m stretched.
The Middle East & Africa (MEA) electric bus market is likely to witness a remarkable CAGR during the study timeframe
The electric bus market in the Middle East & Africa region (MEA) anticipates substantial growth in the coming years, as the majority of the leading manufacturers are headquartered in the region, the demand for the electric transportation system is increasing considerably, and the regulations imposed by the regional government to promote electric vehicles.
Report Scope
Report Attribute |
Details |
Market Size in 2023 |
USD 39.45 Billion |
Projected Market Size in 2032 |
USD 174.26 Billion |
CAGR Growth Rate |
17.9% CAGR |
Base Year |
2023 |
Forecast Years |
2024-2032 |
Key Market Players |
AB Volvo, Ashok Leyland Ltd., BYD Company Ltd., Daimler Truck AG, Hyundai Motor Company, King Long, Man Se, Nissan Motor Corporation, Olectra Greentech Ltd., Proterra, TATA Motors Ltd., Zhengzhou Yutong Bus Co. Ltd., and Others. |
Key Segment |
By Vehicle Type, By Range, By Battery Technology, By End-Use, By Ownership, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Some major players covered in the global electric bus market are; AB Volvo, Ashok Leyland Ltd., BYD Company Ltd., Daimler Truck AG, Hyundai Motor Company, King Long, Man Se, Nissan Motor Corporation, Olectra Greentech Ltd., Proterra, TATA Motors Ltd., Zhengzhou Yutong Bus Co., Ltd., and others.
This report segments the global electric bus market as follows:
By Vehicle Type
- Battery Electric Buses
- Hybrid Electric Buses
By Range
- Short-range (<150 miles)
- Long-range (>150 miles)
By Battery Technology
- Lithium-ion Batteries
- Solid-state Batteries
By End-Use
- City Transit Buses
- Intercity Coaches
By Ownership
Global Electric Bus Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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