Electric Buses Market By Type (Hybrid Electric, Plug-in Hybrid and Pure Electric), By End-user (Public Transport and Private Fleet Owners) – Growth, Future Prospects and Competitive Analysis, 2018 - 2026

Tightening Environmental Regulations and Encouragement from National Governments to Boost the Electric Bus Market

The electric bus market worldwide is expected to grow at a CAGR of 22.9% during the forecast period. Electric vehicles have emerged as a viable solution for curbing the enormous air pollution caused by conventional fossil fuel vehicles. Of these, electric buses are expected to emerge as the most promising segment due to ongoing government initiatives across the world.

Electric buses offer a clean, safe, reliable, and comfortable mode of public transport, thereby reducing a significant amount of CO2 emissions in the environment. The most important factor driving the market growth is aggressive initiatives launched by various national governments to integrate these vehicles into public transportation fleets. Currently, China has more than 350,000 electric buses in its public transport fleet, making it the largest market for electric buses.

Other countries, including the U.K., the U.S., India, Japan, South Korea, and other European countries, too, are making rapid efforts towards increasing the percentage of electric buses in their public transport fleets. With ever-growing environmental regulations, electric buses are expected to witness rapid demand in the years to come. All these factors, taken together, are expected to ensure high growth for the electric bus market during the forecast period.

Market Synopsis

High Emphasis on Minimizing Environmental Pollution to Ensure Dominance of the Pure Electric Bus Segment

In 2017, the pure electric bus segment accounted for a larger share as compared to the hybrid electric bus segment. Hybrid electric buses typically use an alternate fuel source (e.g., diesel), making them less environmentally friendly as compared to their pure electric counterparts.

Although pure electric buses are more expensive than hybrid electric buses, they are more environmentally friendly and require less operation and maintenance. The demand for pure electric buses is supported by factors such as the growing focus on zero-emission vehicles, reducing battery costs, advancements in pure electric mechanisms, and improving charging technology and infrastructure.

Consistent Design Improvements to Maintain a Competitive Market

Some of the prominent players operating in the electric buses market include BYD Company Ltd., AB Volvo, Alexander Dennis Ltd., Ashok Leyland Ltd., Daimler AG, Dongfeng Automobile Co., Ltd., EBSCO BV, FAW Group, IVECO S.p.A., King Long United Automotive Industry Co., Ltd., Proterra, Inc., Shenzhen Wuzhoulong Motors Co., Ltd., Skoda Auto a.s., Solaris Bus & Coach SA, Solaris Bus & Coach SA, Tata Motors Ltd., Zhengzhou Yutong Bus Co., Ltd.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The electric bus market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global electric bus market based on type, battery type, length, end-use, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of electric buses in 2017, and what is the forecast up to 2026?
• Which is the largest regional market for electric buses?
• What are the major trends followed in overall electric busing across different regions?
• Who are the key electric bus companies leading the market?
• What are the key strategies adopted by the leading electric bus companies in the market?

This report's distinct data points

• Statistics on electric vehicles worldwide
• Recent trends across different regions in terms of the adoption of electric buses and electric vehicles
• Attractive investment opportunities for both type segments and geography
• Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)
• The market size in terms of revenue and volume for electric buses

Frequently Asked Question: