Electric Bus Market Size and Growth Opportunity Analysis, 2019-2028 – Comprehensive Market Report by RationalStat


global specialty chemicals market report
July 8, 2022 ( PR Submission Site )

The report “Electric Bus Market” evaluates the market on the basis: of seating capacity, end-user, battery capacity, bus length, propulsion, power output, and region. The report includes trend analysis and historical market data. This report outlines the competition analysis, strategic imperatives, and annual sales figures for electric buses, as well as growth avenues, production overview, and competition assessment for all the players that were included in the electric bus market study.

Market Overview & Dynamics: E-bus penetration to Multifold during The Forecast Period

The market for electric buses is forecast to grow at a rate of 32-35% over the 2022-2028 period. The global market for electric buses will continue to grow with the support of subsidies from regional governments, domestic regulations, and decarbonizing.

With government funding, increased cost economies, and batteries leading to greater efficiency, the global electric bus market will experience significant growth over the next few years. Participants in the electric bus market face many challenges, including high up-front costs, technical problems with operation, and low margins.

China is still the market leader in electric buses, accounting for 95% of global e-bus fleets by 2021. Europe follows. Major European cities such as London (UK), Copenhagen, Denmark, Paris (France), and Madrid (Spain), have made commitments to purchase zero-emission electric buses. This has fuelled the growth in electric bus sales. The demand for electric buses is increasing due to regional electrification plans. Germany, for instance, has set a goal to sell half of its urban buses powered by BEV or hybrid technology by 2030. Chile, on the other hand, has set a goal to electrify 25% 2025 of the city’s public transport bus fleet.

Segmental Analysis

  • The global electric bus market is dominated by the BEV propulsion segment. The reason is that subsidies for BEVs were cut by China’s government from 35% to 50%
  • Based on the end-user segment of the market, the government segment and the private segment will lead the market because they have high buying volumes.
  • Due to their favorable policies and high adoption of electric buses, Europe and China are expected to dominate the Electric Bus markets. India is projected to experience strong growth over the forecast period due to government plans to electrify public transit.

Competition Analysis: Regional Players Dominate the Domestic Markets

The global electric bus market observes intense competition as a result of a presence of a large number of manufacturers. BYD and Yutong account for more than 25% of the global electric bus market.  Joint venture and Greenfield investments in new facilities are the discerned trends across the market. Recent key developments in the e-bus market, including

  • In April 2022, EKA, an Indian electric vehicle manufacturer, partnered with NuPort Robotics of Canada to provide AI-based driver assistance systems to its electric buses on Indian roads.
  • In February 2022, Pinnacle Mobility Solutions announced to invest of INR 2,000 crore to make electric buses and e-mini trucks. Pinnacle Mobility has entered into a 74:26 partnership with one of Europe’s leading family-owned enterprises – VDL Groep.
  • In December 2021, Ebusco, an electric bus company announced that it will be producing e-buses using composite components.

Some of the leading players involved in the sales and production of the electric bus include BYD Auto, Zhengzhou Yutong Bus, Solaris Bus & Coach, AB Volvo, VDL Bus & Coach (VDL Groep), Blue Bird Corporation, Iveco Bus, EvoBus GmbH, Anhui Ankai Automobile, Tata Group, Alexander Dennis Limited, Proterra, among others. Proterra dominates the US electric bus market with a significant share of more than 50% in 2021.

RationalStat has segmented the global electric bus market on the basis of seating capacity, end-user, battery capacity, length of the bus, propulsion, power output, and region.

  • By Seating Capacity
    • Up to 30 Seats
    • 30-90 Seats
    • 90-120 Seats
  • By End-User
    • Government
      • Inter-city
      • Intra-city
    • Educational
      • Inter-city
      • Intra-city
    • Private
      • Inter-city
      • Intra-city
  • By Battery Capacity
    • Up to 400 kWh
    • Above 400 kWh
  • By Length of Bus
    • Less than 9m
    • 9-14m
    • Above 14m
  • By Propulsion
    • Battery Electric Vehicle (BEV)
    • Fuel Cell Electric Vehicle (FCEV)
    • Plug-in Hybrid Electric Vehicle (PHEV)
  • By Power Output
    • Up to 250 kW
    • Above 250 kW
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Poland
      • Rest of Eastern Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC
      • South Africa
      • Turkey
      • Rest of the Middle East & Africa

For more information about this report visit our website.

About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the clients’ needs. Additional services offered by the company include consumer research, country reports, risk reports, procurement intelligence, data analytics, and analytical dashboards.

Contact

RationalStat LLC
Kimberly Shaw, Content and Press Manager
sales@rationalstat.com
Phone: +1 302 803 5429


Summary

The market for electric buses is forecast to grow at a rate of 32-35% over the 2022-2028 period.


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