Electric Bus Market Report Scope & Overview:

The Electric Bus Market Size was valued at USD 26.66 billion in 2022 and is expected to reach USD 70.89 billion by 2030 and grow at a CAGR of 13% over the forecast period 2023-2030.

An electric bus, often known as an e-bus, is a bus that runs solely on electricity rather than an internal combustion engine. An onboard electric motor, powered by onboard batteries or a set of batteries, propels the E-bus. Electric buses are considered environmentally friendly because they produce no pollution. E-buses are gaining traction around the world as commercial transportation companies change their focus to smart transportation. In comparison to traditional buses powered by diesel or gasoline engines, electric buses emit zero or low emissions, supporting the industry trend. The market statistics will improve as various governments place a greater emphasis on promoting electric transit alternatives.


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Plug-in electric buses require a plug-in power source for charging, and the combustion engine boosts the engine later, which further recharges the battery and maintains the energy level, whereas hybrid electric buses conserve energy while decelerating, which finds application in high-intensity tasks. The global electric bus market is expected to be dominated by hybrid buses. However, due to rising government and public interest in emission-free transportation, the pure electric industry is expected to rise at a quick pace.



  • Demand for emission-free and energy-efficient mass transit systems is growing.

  • Environmental issues are growing.

  • Government investments in fuel-saving technology & alternative fuel vehicles are driving the electric bus industry.


  • Electric bus producers are being held back by the expensive cost of developing electric buses, coaches, and related components.

  • Infrastructure development for Electric Vehicle is also quite expensive.

  • Several high-capacity charging stations will need to be installed.

  • Electric buses and coaches are more expensive than standard ICE buses and coaches.


  • An increasing number of global bus manufacturers choose to build electric buses as alternatives to diesel-powered buses.

  • The government of India's National Electric Mobility Mission Plan (NEMMP) aims to promote EV manufacturing and adoption in the country.


  • Current electric bus batteries have low capacity, long charging times, and a limited range per charge.

  • Lithium-ion batteries have insufficient capacity to power commercial vehicles.

  • The charging-discharging performance of batteries degrades dramatically in cold temperatures.

  • The time it takes to charge an electric bus using current market equipment is quite long, resulting in a loss of time.

  • The majority of the charging infrastructure is comprised of low-capacity chargers.


COVID-19 has had a considerable impact on the electric bus market. Manufacturing and COVID-19 have had a big impact on the electric bus market. Manufacturing and sales of new electric buses around the world came to a halt as the entire ecosystem was disrupted. OEMs had to wait for lockdowns to be lifted before they could start production, which hurt their bottom line. Demand for new electric buses is expected to increase as economies recover from the pandemic. A new wave of COVID-19, caused by unique strains, may, however, stall recovery in some areas. As a result, depending on the COVID-19 scenario, electric bus manufacturers would have to adjust production levels between countries.

Market, By Propulsion Type:

The global market is divided into BEV, PHEV, and FCEV. The BEV segment dominated the market in 2020. These buses are designed to take advantage of those batteries to power the electric motors and all onboard electronics. As hydrogen fuel cell buses survive longer, the FCEV category is expected to increase dramatically.

Market, By Length:

According to the length segment, the global market is divided into less than 9 meters, 9-14 meters, and above 14 meters. Throughout the projection period, the 9–14 m segment of the automotive electric bus market value is predicted to be the largest. The 9–14 m segment dominates the electric bus industry due to the large number of electric passenger buses used in public transit fleets.

Market, by Range:

Based on the range segment, the global market has been divided into less than 200 miles, and more than 200 miles. Because of reduced total running costs and shorter recharging times, the segment of fewer than 200 miles captured the largest portion of the market. The sector of more than 200 miles is expected to have a higher CAGR.


By Propulsion Type:

  • BEV

  • FCEV

  • PHEV

By Length:

  • Less than 9 meters

  • 9-14 meters

  • Above 14 meters

By Range:

  • Less than 200 miles

  • More than 200 miles


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The desire to minimize urban pollution and reliance on fossil fuels, as well as growth ambitions, are driving the electric bus market in the Asia Pacific. Because parts and components are cheaper in China, Chinese players have been able to design and provide a wide selection of electric bus models at reduced pricing. The Chinese government has made significant investments to convert the traditional public transportation fleet to electric. As a result, it now dominates the market, surpassing European and American competitors. Because of China's strong adoption rate of electric buses, Asia Pacific dominates the electric bus market. Electric buses are also being used in other Asian countries' public transportation fleets.


  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


Daimler AG (Germany), Volvo Group (Sweden), Wright Enrichment Inc(U.S.), Shandong Yi Xing Electric Auto Co., Ltd (China), Proterra, Anhui Ankai Automobile Co., Ltd.( China),  Zhongtong Bus Holding Co., Ltd.( China), Iveco (Italy), Ebus (Singapore), BYD Auto Co., Ltd ( China), NFI Group Inc., Beiqi Foton Motor Co., Ltd.(China). are some of the affluent competitors with significant market share in the Electric Bus Market.

Volvo Group (Sweden)-Company Financial Analysis

Electric Bus Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 26.66  Billion
Market Size by 2030 US$ 70.89 Billion
CAGR CAGR of 13% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Propulsion Type (BEV, FCEV, PHEV)
• by Length (Less than 9 meters, 9-14 meters, above 14 meters)
• by Range (Less than 200 miles, more than 200 miles)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Daimler AG (Germany), Volvo Group (Sweden), Wright Enrichment Inc(U.S.), Shandong Yi Xing Electric Auto Co., Ltd (China), Proterra, Anhui Ankai Automobile Co., Ltd.( China),  Zhongtong Bus Holding Co., Ltd.( China), Iveco (Italy), Ebus (Singapore), BYD Auto Co., Ltd ( China), NFI Group Inc., Beiqi Foton Motor Co., Ltd.(China).
Key Drivers •Demand for emission-free and energy-efficient mass transit systems is growing.

•Environmental issues are growing.
RESTRAINTS •Electric bus producers are being held back by the expensive cost of developing electric buses, coaches, and related components.

•Infrastructure development for EVs is also quite expensive.

Frequently Asked Questions

Ans:- The market size is expected to reach USD 55.57 billion by 2028.

Ans:- An electric bus, often known as an e-bus, is a bus that runs solely on electricity rather than an internal combustion engine.

Ans:- Yes.

Ans:- Asia pacific region is anticipated to be the primary driver of the market.

Ans:- Daimler AG (Germany), Volvo Group (Sweden), Wright Enrichment Inc(U.S.), Shandong Yi Xing Electric Auto Co., Ltd (China), Proterra, BYD Auto Co., Ltd ( China), NFI Group Inc., and Beiqi Foton Motor Co., Ltd.(China) are the most prominent players in the market.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis


6. Porter’s 5 forces model


7.  PEST Analysis


8. Global Electric Bus Market Segmentation, by Propulsion type

8.1 BEV

8.2 FCEV

8.3 PHEV

9. Global Electric Bus Market Segmentation, by Length

9.1 Less than 9 meters

9.2 9-14 meters

9.3 Above 14 meters

10. Global Electric Bus Market Segmentation, by Range

10.1 Less than 200 miles

10.2 More than 200 miles

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 the USA

11.2.2  Canada

11.2.3  Mexico

11.3 Europe

11.3.1  Germany

11.3.2  the UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4 Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6 Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America

12. Company Profiles

12.1 Yutong Group,

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Daimler AG (Germany)

12.3 Volvo Group (Sweden)

12.4 Wright Enrichment Inc (U.S.)

12.5 Shandong Yi Xing Electric Auto Co., Ltd (China)

12.6 Anhui Ankai Automobile Co., Ltd. (China)

12.7 Zhongtong Bus Holding Co., Ltd. (China)

12.8 Iveco (Italy)

12.9 Ebus (Singapore)

12.10 BYD Auto Co., Ltd (China)

12.11 Beiqi Foton Motor Co., Ltd. (China)

12.12 Proterra

12.13 NFI Group Inc.

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

14. Conclusio

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Step 1: Secondary Research:

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Secondary Research

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Primary Research

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Data Bank Validation

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