The global electric bus market, by volume, is estimated to be 136,537 units in 2019. It is projected to grow at a CAGR of 27.2% to reach 934,717 units by 2027.
The electric bus market comprises major manufacturers such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).
Increasing focus of countries on electrification of their public transport fleets and increasing awareness toward ecofriendly vehicles are the significant growth drivers which have led the global electric bus market
The advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric bus and coach market. Many countries are focusing on electrification of their mass transit solutions, especially buses and coaches. Factors such as rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly buses.
Large volumes of electric buses used in public transport is likely to propel the growth of the 9-14m segment during the forecast period
In the electric bus market, by length of bus, the 9-14 m segment is projected to be the largest market during the forecast period 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. Also, many of the leading OEMs such as BYD, Proterra, and Yutong have been providing electric buses in the 9-14 m length range. Countries that are planning to replace existing public fleets with electric ones are considering electric buses of the same lengths as well.
Asia Pacific is expected to be the largest market during the forecast period
The Asia Pacific region is the largest electric bus market in the world. It comprises some of the fastest developing and developed economies in the world. The growth in the region can be attributed to the dominance of the Chinese market and the presence of leading OEMs in the country as well, resulting in exponential growth of the Asia Pacific electric bus and coach market. The favorable regulations for electric buses, availability of electric and electronics components, and rapidly growing charging infrastructure are projected to boost the electric bus market in the region.
Middle East & Africa bus market is expected to register the fastest growth during the forecast period
The Middle East & Africa, which includes Egypt, South Africa, and UAE, is projected to be the fastest-growing market during the forecast period. The increasing demand for electric mass transit solutions, renowned OEMs expanding in the region, and government support are factors driving the Middle East & Africa electric bus market.
For instance, in November 2019, Egypt's Arab Organisation for Industrialisation (AOI) started its first smart electric bus in the country with the help of Shanghai Wanxiang Group, China. Also, in May 2019, Foton Motor signed an agreement with Egypt's Military Production Ministry to manufacture more than 2,000 electric buses in the country over the next four years.
Middle East & Africa has become a key region for OEMs to explore, as major countries in the Middle East & Africa, such as Egypt, Africa, and UAE, have high demand for public transport due to the increasing number of tourists visiting these countries. Thus, governments are planning to replace the existing public transport with more efficient and emission-free public transport because of emission concerns.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in the Electric Bus Market 4.2 Electric Bus Market Growth Rate, By Region 4.3 Electric Bus Market, By Consumer Segment 4.4 Electric Bus Market, By Propulsion 4.5 Electric Bus Market, By Vehicle Range 4.6 Electric Bus Market, By Length of Bus 4.7 Electric Bus Market, By Application 4.8 Electric Bus Market, By Power Output 4.9 Electric Bus Market, By Component 4.10 Electric Bus Market, By Battery Capacity
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 Increasing Demand for Emission-Free and Energy-Efficient Mass Transit Solutions 22.214.171.124 Reduction in Battery Prices 5.2.2 Restraints 126.96.36.199 High Development Cost 5.2.3 Opportunities 188.8.131.52 Government Support for Electrification of Public Transport 184.108.40.206 New Revenue Pockets in Asia Pacific and Northern Europe 5.2.4 Challenges 220.127.116.11 Limited Battery Capacity 18.104.22.168 Lack of Charging Infrastructure 5.3 Electric Bus Market, Scenarios (2020-2027) 5.3.1 Electric Bus Market, Most Likely Scenario 5.3.2 Electric Bus Market, Optimistic Scenario 5.3.3 Electric Bus Market, Pessimistic Scenario
6 Industry Trends 6.1 Introduction 6.2 High Voltage Battery 6.3 Smart Electric Drive 6.4 Technology Analysis 6.5 Innovative Charging Solutions 6.5.1 Off-Board Top-Down Pantograph Charging System 6.5.2 On-Board Bottom-Up-Pantograph Charging System 6.5.3 Ground-Based Static/Dynamic Charging System 6.6 Porter'S Five Forces Model Analysis
7 Electric Bus Market, By Propulsion Type 7.1 Introduction 7.2 Operational Data 7.2.1 Assumptions 7.2.2 Research Methodology 7.3 BEV 7.3.1 Increasing Demand for Zero-Emission Vehicles Will Boost the BEV Segment 7.4 FCEV 7.4.1 FCEV Buses Are Equipped With Advanced Technologies Which Will Drive the Market 7.5 PHEV 7.5.1 Asia Pacific is Projected to Dominate the PHEV Segment 7.6 Key Industry Insights
8 Electric Bus Market, By Vehicle Range 8.1 Introduction 8.2 Operational Data 8.2.1 Assumptions 8.2.2 Research Methodology 8.3 Up to 200 Miles 8.3.1 Chinese Bus Fleets Are Dominated By Electric Buses Having Range Up to 200 Miles 8.4 Above 200 Miles 8.4.1 Advancements in Battery Technologies to Boost the Above 200 Miles Segment 8.5 Key Industry Insights
9 Electric Bus Market, By Length of Bus 9.1 Introduction 9.2 Operational Data 9.2.1 Assumptions 9.2.2 Research Methodology 9.3 Less Than 9 M 9.3.1 Mini Buses Are Quite Useful On Compact Roads 9.4 9-14 M 9.4.1 High Adoption Rate of Electric Buses as Public Transport Fleet is Driving this Segment 9.5 Above 14 M 9.5.1 Increasing Number of Daily Commuters in Asia Pacific to Drive the Above 14 M Segment 9.6 Key Industry Insights
10 Electric Bus Market, By Consumer Segment 10.1 Introduction 10.2 Operational Data 10.2.1 Assumptions 10.2.2 Research Methodology 10.3 Private Fleet Operator 10.3.1 Government Support and Low Cost of Operation to Boost the Private Fleet Operator Segment 10.4 Government 10.4.1 Governments are Emphasizing On Adopting Electric Buses in Public Transport Fleets 10.5 Key Industry Insights
11 Electric Bus Market, By Application 11.1 Introduction 11.2 Operational Data 11.2.1 Assumptions 11.2.2 Research Methodology 11.3 Intercity 11.3.1 Developments in Battery Technologies and Charging Solutions to Drive the Intercity Segment 11.4 Intracity 11.4.1 High Adoption Rate of Electric Buses in Local Public Transport Fleets to Boost the Asia Pacific Market 11.5 Key Industry Insights
12 Electric Bus Market, By Battery Capacity 12.1 Introduction 12.2 Operational Data 12.2.1 Assumptions 12.2.2 Research Methodology 12.3 Up to 400 Kwh 12.3.1 High Adoption Rate of Affordable Electric Buses to Boost the Up to 400 Kwh Segment 12.4 Above 400 Kwh 12.4.1 Chinese Electric Bus Fleet is Dominated By Buses With More Than 400 Kwh Battery Capacity 12.5 Key Industry Insights
13 Electric Bus Market, By Power Output 13.1 Introduction 13.2 Operational Data 13.2.1 Assumptions 13.2.2 Research Methodology 13.3 Up to 250 Kw 13.3.1 Public Transport Buses to Boost the Up to 250 Kw Segment 13.4 Above 250 Kw 13.4.1 Increasing Demand for Electric Coaches With High Power Output to Drive the Market 13.5 Key Industry Insights
14 Electric Bus Market, By Component 14.1 Introduction 14.1.1 Assumptions 14.1.2 Research Methodology 14.2 Motor 14.3 Battery 14.4 Fuel Cell Stack 14.5 Key Industry Insights
15 Electric Bus Market, By Region 15.1 Introduction 15.2 Asia Pacific 15.3 Europe 15.4 North America 15.5 Latin America 15.6 Middle East & Africa
17 Company Profiles 17.1 BYD 17.2 Yutong 17.3 Proterra 17.4 VDL Groep 17.5 AB Volvo 17.6 Daimler Ag 17.7 NFI Group 17.8 CAF 17.9 Ebusco Bv 17.10 King Long 17.11 Ankai 17.12 Zhongtong Bus Holding 17.13 Other Key Players 17.13.1 North America 22.214.171.124 Blue Bird Corporation 126.96.36.199 Gillig Llc 188.8.131.52 the Lion Electric Company 17.13.2 Asia 184.108.40.206 Tata Motors 220.127.116.11 Ashok Leyland 18.104.22.168 Changsha Sunda New Energy Technology Co. Ltd. 22.214.171.124 Olectra Greentech 126.96.36.199 Yinlong Energy 188.8.131.52 Golden Dragon 184.108.40.206 Jbm Auto Limited 17.13.3 Europe 220.127.116.11 Scania 18.104.22.168 Irizar 22.214.171.124 Iveco 126.96.36.199 Skoda 188.8.131.52 Bluebus 184.108.40.206 Bozankaya 220.127.116.11 Caetanobus 18.104.22.168 Chariot Motors 22.214.171.124 Carrosserie Hess Ag 126.96.36.199 Heuliez Bus 188.8.131.52 Hybricon 184.108.40.206 Optare 220.127.116.11 Otokar Otomotiv Ve Savunma Sanayi A. 18.104.22.168 Rampini Carlo 22.214.171.124 Sor Libchav 126.96.36.199 Temsa 188.8.131.52 Ursus Bus 184.108.40.206 Van Hool Nv 220.127.116.11 Karsan
18 Recommendations 18.1 Asia-Pacific will be a Major Electric Bus Market 18.2 Electric Bus Batteries can be a Key Focus for Manufacturers 18.3 Conclusion