NEW YORK, Nov. 7, 2023 /PRNewswire/ — The electric bus market is estimated to grow by 61.03 thousand units from 2022 to 2027, growing at a CAGR of 9.23%. The electric bus market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer electric bus market are AB Volvo, BKM.BY, Bollore SE, BYD Co. Ltd., CNH Industrial NV, Complete Coach Works, Eletra, GreenPower Motor Co. Inc., Jiangsu Alfa Bus Co. Ltd., Linkker Oy, Mercedes Benz Group AG, NFI Group Inc., POL-MOT Holding SA, Proterra Inc., Tata Sons Pvt. Ltd., TECNOBUS Spa, VDL Bus and Coach BV, Xiamen King Long United Automotive Industry Co. Ltd., Yinlong Energy China Ltd., and Zhongtong Bus Holding Co. Ltd.The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
Technavio has announced its latest market research report titled Global Electric Bus Market
Company Offering:
BKM.BY: The company offers electric bus that have multi-dimensional lightweight design of motors, batteries and interior and exterior trims reduce the weight of the entire vehicle.
Bollore SE: The company offers electric bus that are equipped with air-ride suspension, ABS disk brakes, and pass through storage.
BYD Co. Ltd: The company offers electric bus that are equipped with wireless charging, overhead charging, to AC or DC charging.
For details on companies and their offerings – Buy the report!
By Geography, the market is classified as Asia, Europe, North America, and the Rest of the World (ROW). will have the largest share of the market.
Asia is estimated to account for 92% of the growth of the global market during the forecast period. Factors such as the increasing growth of China’s electric bus market are fuelled by the demand for efficient public transportation in metro cities like Bus Rapid Transit (BRT) and increased consumer awareness about the advantages of electric vehicles. is signficantly contributing to the growth of the market in Asia. Hence, such factors are expected to drive the market growth in Asia during the forecast period.
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Impactful driver- Reduction in battery prices
Key Trend – Increasing popularity of wireless charging systems
Major Challenges – The declining number of public transport users
Market Segmentation
The market share growth by the intercity segment is significant during the forecast period. In India, there is significant support by the government in promoting the use of electric vehicles with the objective of replacing internal combustion engine (ICE) vehicles by 2030. Several electric bus charging system manufacturers are planning to start business operations within India due to the growth opportunities offered by the increasing electric bus market in the country. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Sample Report
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The microelectric vehicle (EV) market is estimated to grow at a CAGR of 8.02% between 2022 and 2027. The size of the market is forecast to increase by 1,542.22 thousand units.
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Electric Bus Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.23% |
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YoY growth 2022-2023 (%) |
8.87 |
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Regional analysis |
Asia, Europe, North America, and the Rest of the World (ROW) |
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Key countries |
US, Canada, China, India, Germany, and UK |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Market Segmentation by Geography
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Company Landscape
13 Company Analysis
14 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio