[170 Pages Report] The Global Electric Bus Market size is projected to reach 935 thousand units by 2027 from 137 thousand units in 2019, at a CAGR of 27.2%. Increasing focus of countries on promoting electrification of mass transit solutions and government support are propelling the growth of the electric bus market.
In the electric bus market, by length of bus, the 9–14 m segment is projected to be the largest market during the forecast in terms of volume. The 9–14 m segment is dominating the electric bus segment due to the large volumes of electric passenger buses used in public transport fleet. Most of the public transport fleets, especially in China, which accounts for almost 99% of the market, have electric buses that are 9–14 m in length. Also, many of the market leading OEMs such as BYD, Proterra, and Yutong have been providing electric buses in the 9-14 m length range. Countries that are planning to replace existing public fleets with electric ones are considering electric buses of the same length, which is mostly 9–14 m.
The Middle East & Africa, which includes Egypt, South Africa, and UAE, is projected to be the fastest growing market during the forecast period. The increasing demand for electric mass transit solutions, renowned OEMs expanding in the region, and government support are factors driving the Middle East & Africa electric bus market. For instance, in November 2019, Egypt’s Arab Organisation for Industrialisation (AOI) started its first smart electric bus in the country with the help of Shanghai Wanxiang Group, China. Also, in May 2019, Foton Motor signed an agreement with Egypt’s Military Production Ministry to manufacture more than 2,000 electric buses in the country over the next four years. Middle East & Africa has become a key region for OEMs to explore, as major countries in the Middle East & Africa, such as Egypt, Africa, and UAE, have high demand for public transport due to the increasing number of tourists visiting these countries. Thus, governments are planning to replace the existing public transport with more efficient and emission-free public transport because of emission concerns.
The Asia Pacific region is the largest electric bus market in the world. It comprises some of the fastest developing and developed economies in the world. The growth in the region can be attributed to the dominance of the Chinese market and presence of leading OEMs such as BYD, Yutong, Zhongtong, and Ankai in the country as well, resulting in exponential growth of the Asia Pacific electric bus market. Also, Shenzhen was the first city in the world to have a fully electrified public transport fleet. The favorable regulations for electric buses, availability of electric and electronic components at cheaper rates, and rapidly growing charging infrastructure are projected to boost the electric bus market in the region.
The global electric bus market is dominated by major players such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden). These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies have adopted strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.
Electric Bus Market size available for years
Base year considered
Volume (Units) and Value (USD Billion)
Propulsion Type, Consumer Segment, Application, Range, Length of Bus, Component, Battery Capacity, Power Output, and Region
Asia Pacific, Europe, North America, Latin America, and Middle East & Africa
BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).
This research report categorizes the given market based on propulsion type, consumer segment, application, range, length of bus, component, battery capacity, power output, and region.
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Table of Contents
1.2 Market Definition
1.3 Market Scope
1.3.1 the Market Size Covered in the Study Would be on Electric Bus Sales Only as Authenttic Production Data is Not Available
1.3.2 Years Considered for the Study
1.4 Currency & Pricing
1.5 Package Size
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Secondary Sources
2.2.2 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.5 Market Breakdown and Data Triangulation
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
5.2.5 Impact of Market Dynamics
6 Technological Overview
7 Electric Bus Market, By Consumer Segment
7.2 Fleet Operators
8 Electric Bus Market, By Application
9 Electric Bus Market, By Length Type
9.2 Less Than 9 M
9.3 9-14 M
9.4 More Than 14 M
10 Electric Bus Market, By Component
10.4 Fuel Cell Stack
11 Electric Bus Market, By Propulsion Type
11.2 Battery Electric Vehicle (BEV)
11.3 Plug-In Hybrid Electric Vehicle (PHEV)
11.4 Fuel Cell Electric Vehicle (FCEV)
12 Electric Bus Market, By Range Type
12.2 Up to 200 Miles
12.3 201-400 Miles
12.4 Above 400 Miles
13 Electric Bus Market, By Battery Capacity Type
13.2 Up to 400 kWh
13.3 Above 400 kWh
14 Electric Bus Market, By Power Output Type
14.2 Up to 250 KW
14.3 Above 250 KW
15 Electric Bus Market, By Region
15.2 Asia Pacific
15.2.4 South Korea
15.3.5 the Netherlands
15.3.11 United Kingdom
15.4 North America
15.5 Latin America
15.6 Middle East & Africa
15.6.3 South Africa
16 Competitive Landscape
16.2 Market Ranking Analysis
16.3 Competitive Scenario
16.3.1 New Product Developments
16.3.2 Collaborations/Joint Ventures/Supply Contracts/ Partnerships/Agreements
16.3.3 Expansions, 2017–2018
16.4 Competitive Leadership Mapping
16.4.1 Visionary Leaders
16.4.3 Dynamic Differentiators
16.4.4 Emerging Companies
16.5 Upcoming Buses Models
17 Company Profiles
17.1 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis)*
17.1.7 Solaris Bus & Coach S.A
17.1.8 Ebusco Bv
17.1.9 New Flyer Group
17.1.10 Tata Motors
17.1.11 Ashok Leyland
17.1.12 Zhongtong Bus Holding Co., Ltd
17.1.14 King Long United Automotive
17.1.15 Skoda Transportation
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis Might Not be Captured in Case of Unlisted Companies.
17.2 Key Players From Other Regions
17.2.1 North America
17.2.3 Asia Pacific
18.1 Discussion Guide
18.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
18.3 Available Customizations
18.4 Related Reports
18.5 Author Details
The study involved four major activities in estimating the current market size of the electric bus market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, publications of electric bus OEMs, Canadian Automobile Association (CAA), International Energy Agency (IEA), Federal Transit Administration (FTA), American Public Transportation Association (APTA), Regional Transportation Authority (RTA), country-level automotive associations and trade organizations, and the US Department of Transportation (DOT)], electric bus magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, government organizations webistes, and technical articles have been used to identify and collect information useful for an extensive commercial study of the global electric bus market.
Extensive primary research has been conducted after acquiring an understanding of electric bus market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand- and supply-side OEMs (in terms of component supply, country-level government associations, and trade associations) and component manufacturers across three major regions, namely, Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Approximately 30% and 70% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, LinkedIn, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.
After interacting with industry experts, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. Following is the breakdown of primary respondents.
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The top-down approach was used to estimate and validate the total market size. This method was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
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