Electric Bus Market valued at US $44.00 Billion in 2022 is expected to reach a value of US $94.32 Billion in 2030, growing at a CAGR of 10%.
An electric bus, often known as an e-bus, is a vehicle that runs entirely on electricity rather than a conventional internal combustion engine (ICE).
An on-board electric motor powers the E-bus and obtains its electricity from one or more on-board batteries.
When compared to conventional gasoline or diesel buses, electric buses are more cost-effective and are regarded as environmentally beneficial because they emit no pollution.
The market in Asia Pacific is projected to encounter the quickest development attributable to the popularity of electric transports from nations such China, Japan, South Korea and India. Further, China has acquainted numerous electric transports with decrease vehicle outflows. For example, BYD offers the K8 and K9 electric transports, the most well known on the planet, between 9 m and 14 m long, and with a scope of 155 miles and 190 miles, separately. Essentially, in January 2021, Olectra Greentech Limited and Evey Trans Private Limited got a request for 350 electric transports from Mahanagar Parivahan Mahamandal Ltd. Good approaches and reliable new orders for electric transports would drive the Indian electric transport market in the impending years. European and North American market are becoming because of expansion popular of discharge free open vehicle and good government strategies for electric vehicles.
Governments are focusing on accelerating the adoption of electric buses to enhance their contribution toward establishing a sustainable environment. For instance, in January 2021, the Government of Germany received funds of around USD 354 million from European Commission for purchasing new electric buses in the region.
Segmental Analysis Of Global Electric Bus Market:
Based On Type:
- BEV
- PHEV
- FCEV
Based On Consumer Segment:
- Private
- Government
Based On Application:
- Intercity
- Intercity
Based On Bus Type:
- Less than 9 m
- 9-14 m
- Above 14 m
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.
Based On Vehicle Range:
- Less than 200 miles
- Above 200 miles
Based On Battery Capacity:
- Up-to 400 kWh
- Above 400 kWh
Based On Battery Type:
- Lithium- Nickle-Manganese-Cobalt-oxide
- Lithium-Iron-Phosphate
- Others
Based On Component:
- Motor
- Battery
- Fuel Cell Stack
- Battery Management System
- Battery Cooling System
- EV Connectors
Based On Seating Capacity:
- Up-to 40 Seats
- 40-70 Seats
- Above 70 Seats
Based On Level Of Autonomy:
- Semi-autonomous
- Autonomous
Global Electric Bus Market: Competitive Landscape
- AB Volvo, Ankai Bus,
- BYD Company Ltd., Construcciones y Auxiliar de Ferrocarriles,
- A., Daimler AG
- NFI Group Inc.
- Proterra
- VDL GROEP BV
- Yutong Group
- Zhongtong Bus Holdings Co. Ltd.
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