Electric Mid- and Large (9-14m) Bus Market

Market Leaders - Electric Mid- and Large (9-14m) Bus Market

The electric mid- and large (9-14m) bus market is projected to cross 171,000 units by 2030 from an estimated 66,593 units in 2023, at a CAGR of 14.4% during the forecast period. The base year for the report is 2022, and the forecast period is 2023 to 2030.

The market is expected to witness rapid growth due to the increasing government policies to reduce GHG emissions, and advances in battery technology, reducing costs with improved range, would enhance the growth of electric mid- and large buses.

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The electric mid- & large bus market is dominated by globally established players such as BYD Auto (Germany), Yutong (Germany), CRRC Electric (Japan), and AB Volvo (Japan). These companies focus on developing new products, adopting expansion strategies, and forming supply contracts with different governments for electric mid- and large buses, collaborations, partnerships, and mergers & acquisitions to gain traction in this growing electric mid- & large bus market.

BYD specializes in manufacturing electric commercial vehicles. BYD has a wide range of products and services as part of its portfolio, giving it more leverage due to its non-dependence on a single product range. It has different brands, technologies, and prices for various target customers across multiple regions. The company has undertaken several partnerships, collaborations, and joint ventures with various automobile manufacturers and government agencies, leading to the sharing of distribution networks and technology among the companies. The company has a robust geographical presence and can produce electric commercial vehicles in large volumes, especially electric buses, thereby making BYD one of the market leaders. It has many manufacturing bases in China and abroad, such as in Europe and Southeast Asia. Considering the high market competition, BYD is focusing on expanding its network of energy buses by launching new products. The company is focusing on building supply contracts with different state and government authorities to supply its electric buses for city transit. For instance, in November 2023, BYD secured a California Department of General Services (DGS) statewide electric school bus contract. Under this agreement, BYD will supply 130 electric buses.

Yutong stands as a significant participant in the electric mid- and large bus market, leveraging its primary expertise in bus manufacturing while also engaging in diverse sectors such as construction machinery, automotive parts, and real estate. The company boasts a comprehensive range of electric mid- and large buses spanning 5 to 18 meters in length, catering to various specifications and applications, including school buses, minibuses, city transport, and large heavy-duty buses.

As of March 2021, Yutong has introduced a series of new energy/electric buses, encompassing hybrid, fully electric, and fuel cell-powered models. Its distinctive energy power system, implemented in electric mid- and large buses, has gained considerable popularity as a notable powertrain in the bus industry. Yutong has made substantial investments in research and development, focusing on innovative technologies like its intelligent driving system, aimed at enhancing the safety and efficiency of electric mid- and large buses. Yutong's strategy revolves around establishing itself as a leading provider of intelligent transportation solutions. Furthermore, the company has forged partnerships with other entities in the transportation sector to collaboratively develop integrated solutions tailored for smart cities.

AB Volvo is a prominent electric mid- and large bus manufacturer from Sweden. The company has a wide geographic presence, with around 52 manufacturing plants and subsidiaries in 18 countries. Its global sales network covers 190 countries. The company’s business segments include financial services, Volvo Penta, buses, construction equipment, trucks, and others. The Volvo hybrid & electric bus product lines include the Volvo 7900 hybrid/electric bus and the 8400 hybrid city bus. The company also manufactures hybrid engines. In February 2021, Nova Bus, a subsidiary of Volvo Buses, announced that it had accepted a supply order from the Chicago Transit Authority for 600 new 40-feet electric buses. The company has a strong focus on collaboration for technology development in electric mid- and large bus.  Collaborations with some global technology providers, such as NVIDIA and Samsung SDI, have helped Volvo create advanced and innovative electric mid- and large bus technologies and transport solutions. These effective strategies and a wide portfolio of electric mid- and large bus models, make Volvo as one of the important market player.

Related Reports:

Electric Mid- and Large (9-14m) Bus Market Technology Landscape, Trends and Market Analysis by Propulsion (BEV, FCEV, HEV/PHEV), Configuration (Light & Heavy Duty), Application (City/Transit Bus, Coach, Midi & School Bus) and Region - Global Forecast 2030

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Electric Mid- and Large (9-14m) Bus Market Size,  Share & Growth Report
Report Code
AT 8911
RI Published ON
1/18/2024
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