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 Buses Market"

The electric buses market worldwide is expected to grow with 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 clean, safe, reliable and comfortable mode of public transport, thereby reducing significant amount of CO2 emissions in the environment. The most prominent factor driving the market growth is aggressive initiatives undertaken by various national governments for incorporating these vehicles in public transportation fleet. 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 fleet. With ever-growing environmental regulations, electric buses are expected to witness rapid demand in the years to come. All these factors in combination are expected to ensure high growth for electric buses market during the forecast period. 

Market Synopsis

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"High Emphasis on Minimizing Environmental Pollution to Ensure Dominance of Pure Electric Buses Segment"

In 2017, pure electric buses segment accounted for larger share as compared to hybrid electric buses segment. Hybrid electric buses typically use an alternate fuel source (e.g. diesel), making them less cleaner as compared to the pure electric counterparts. Although pure electric buses are costlier as compare to hybrid electric, these buses provide cleaner operation and require less operating and maintenance costs. The demand for pure electric buses are complimented by factors such as growing focus on zero emission vehicles, reducing battery costs, advancement in pure electric mechanism and improving charging technology & infrastructure.

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"Consistent Design Improvement in Designs to Ensure 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., EBUSCO 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, Tata Motors Ltd., Zhengzhou Yutong Bus Co., Ltd. and Zhongtong Bus Holding Co., Ltd. among others.

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Historical & Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026. 

Report Scope by Segments

The electric buses 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 global electric buses market based on type, battery type, length, end-use and geography. Key segments covered in the report are as follows:  

Key questions answered in this report

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

Unique data points of this report

• Statistics on electric vehicles worldwide
• Recent trends across different regions in terms of adoption of electric buses/electric vehicles
• Attractive investment proposition for type segment as well as geography
• Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)
• Market size in terms of revenue and volume for electric buses