Top Electric Bus Companies

The electric bus market is projected to grow from USD 23.80 billion in 2025 to USD 59.60 billion by 2032 at a CAGR of 14.0%. The market is estimated to experience strong growth in the coming years, driven by government initiatives promoting zero-emission vehicles and the shift toward cleaner public transportation. During the forecast period, the Asia Pacific is expected to remain the dominant region in terms of electric bus adoption.

The key players in the electric bus market are BYD Company Ltd. (China), Yutong Co., Ltd. (China), Xiamen King Long (China), CRRC Corporation Limited (China), and Zhejiang Geely Holding Group (China). These players have adopted product developments, collaborations, expansion, and partnerships to strengthen their presence in the market.

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BYD Company Ltd. has been focusing on product launches, expansions, and supply contracts as strategies to strengthen its position in the global electric bus market. In May 2024, the company launched the BD11 fully electric double-decker bus in London, featuring advanced Blade Battery technology for exceptional safety, range, and fast charging capabilities. Additionally, in July 2025, the company commenced the expansion of its electric bus and truck manufacturing plant in Komárom, Hungary. The new plant is a 29,000-square-meter facility and is expected to triple production capacity to over 1,000 vehicles annually. This plant will create more than 600 new jobs and enhance Europe's supply of zero-emission public transport solutions. The company is also utilizing supply contracts as a strategy to increase its market presence. In October 2023, BYD signed a framework agreement with the Tashkent Municipality to supply 2,000 pure electric K9UD buses, and in July of the same year, BYD UK and Alexander Dennis secured a repeat order from Go-Ahead London for an additional 141 battery-electric buses.

Yutong Bus Co., Ltd. has been focusing on product launches and attaining supply contracts as strategies to strengthen its position in the global electric bus market. In July 2025, the company launched a new battery electric intercity bus, the IC12E, at the UITP Summit 2025 in Hamburg, Germany. The IC12E is explicitly designed for the European market, offering a maximum 610-kilometer range under SORT2 conditions. Also, in January 2025, the company launched the world's first 26-meter pure electric double articulated bus at its new energy plant, specifically developed for the Mexican market. This innovative vehicle features advanced battery and motor technology, a long driving range, rapid charging, and a passenger-friendly design that includes dedicated spaces for women and people with disabilities. The company is also focusing on supply contracts and has had the highest number of supply contracts over the past two years. In July 2025, Yutong delivered 110 customized C13PRO premium coaches to Aramco in Saudi Arabia, specially engineered to perform reliably in the region's extreme desert climate.

Daimler Truck AG has been focusing on product launches, partnerships, and acquisitions to maintain its position in the global electric bus market. In March 2025, Daimler Buses acquired a 49% stake in SINOS GmbH, a software company specializing in intelligent charging management systems for electrified city bus fleets. This investment helps in enabling the development of enhanced charging management software tailored for Daimler's electric buses while supporting depot digitalization and optimizing fleet operations. In April 2024, Daimler Buses and BMZ Poland, a leading battery systems expert, formed a strategic partnership to advance European emission-free bus transport. BMZ developed the next generation of e-bus batteries, NMC4, which are tailored for electric buses' needs and offer high-energy density and long service life. The company is also focusing on product launches as a strategy to enhance its market presence. In January 2025, Thomas Built Buses, a subsidiary of Daimler Truck, launched the second-generation Saf-T-Liner C2 Jouley battery-electric school bus. In July 2025, the company plans to showcase eight innovative buses from Mercedes-Benz and Setra at Busworld Europe 2025 in Brussels, including the premiere of the fully electric Mercedes-Benz eIntouro intercity bus and the new NMC4 battery generation for the eCitaro.

Related Reports:

Electric Bus Market by Propulsion (BEV, FCEV), Battery (LFP, NMC, NCA), Length (<9, 9-14, >14m), Battery Capacity (≤400 & >400kWh), Application, Seating Capacity, Range, Power Output, Autonomy Level, Component, Consumer and Region - Global Forecast to 2032

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