Electric Bus Market

Industry Overview

The global electric bus market is growing at 17.2% CAGR during the forecast period, with it’s the fleet size anticipated to reach 283.3 thousand units by 2027. The market is driven by supportive government initiatives and mounting alarm about environmental pollution. Different vehicle type including battery electric bus, hybrid electric bus, plug-in hybrid electric bus contributed to the electric bus market size, globally. The market has witnessed high demand for battery electric bus over the years due to the decreasing battery prices and least amount of carbon emissions.

Market Segmentation

Insight by Vehicle Type

The different vehicle type in the electric bus market is battery electric bus, hybrid electric bus, and plug-in hybrid electric bus. Of all vehicle type, battery electric bus accounted the largest share and is expected to grow at the fastest rate in the market, due to decreasing battery prices and least amount of carbon emissions.

Insight by Battery

On the basis of battery, the market is subdivided into lithium iron phosphate battery, lithium nickel manganese cobalt oxide, and others. Among all batteries, the lithium iron phosphate battery accounted the largest share in the electric bus market, as it is cost-effective and safer. In addition, lithium nickel manganese cobalt oxide is expected to grow at the fastest rate in the market due to reducing price, and higher energy density.

Insight by Length

On the basis of length, the market is subdivided into less than 10m and more than 10m. Among all lengths, the less than 10m accounted the largest share in the electric bus market due to preference of smaller than 10m buses by the transport authority.

Industry Dynamics

Growth Drivers

Promising and strict government strategies and supports, mounting price of gasoline, mounting government plans for electrification of public transport and launch of novel technologies are the primary growth drivers for electric bus market.

In addition, increase in the requirement of efficient vehicle with zero carbon emission, strict regulations regarding vehicle emission, upsurge in air pollution, and mounting alarm about environmental pollution are also facilitating the growth of the market. For instance, according to World Health Organization (WHO), globally exposure of ambient air pollution leads to 4.2 million deaths every year. In addition, 91% of the world’s population lives in place where air quality exceeds WHO guidelines limits.

Improving charging infrastructure, less noise and require less maintenance and reducing cost of lithium ion batteries are also facilitating the growth for the electric bus market.

Challenges

Dearth of standardization, short lifespan of the battery, poor charging infrastructure, high manufacturing price of electric bus, and stringent rules for installation of charging stations are the major challenges for the growth of electric bus market.

Industry Ecosystem

Globally industry players are leveraging market growth through launching new products. Different players are investing in the development of new battery technology to lower the cost of electric buses to compete against gasoline buses in terms of price and performance. In the coming years, industry leaders are anticipated to significantly lower the cost of these vehicles and enhance the performance of these vehicles leading to adoption by masses.

Geographic Overview

Geographically, Asia-Pacific is the largest electric bus market and is observed to witness the fastest growth in the market due to mounting government initiatives and support. In addition, mounting population, upsurge in air pollution, reducing cost of batteries, mounting disposable income, rapid urbanization, mounting awareness of environmental safety, mounting price of gasoline, increase in the requirement of efficient vehicle with zero carbon emission and large population base are also up surging growth of the Asia-Pacific electric bus market.

Competitive Insight

Major players in the electric bus market are catering the demand by collaborating with small players and investing on technologically advanced product portfolio across the globe. In October 2017, Proterra introduced DuoPower drivetrain for its Catalyst zero emission buses at American Public Transit Association (APTA). Daimler AG, New Flyer Industries Inc., Zhengzhou Yutong Group, EBUSCO, King Long United Automotive Industry Co. Ltd., Shenzhen Wuzhoulong Motors, BYD Company Limited, Alexander Dennis Limited, and Proterra Inc. are the key players offering electric bus.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Vehicle Type

1.2.2. By Battery

1.2.3. By Length

1.2.4. By Voltage

1.3.  Research Phases

1.4.  Limitations

1.5.  Market Size Estimations and Forecast

1.5.1. Data Sources

1.5.1.1. Primary Research

1.5.1.2. Secondary Research

1.5.2. Methodology

1.5.2.1. Data Exploration

1.5.2.2. Forecast Parameters

1.5.2.3. Data Validation

1.5.2.4. Assumptions

1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

3.1.  By Vehicle Type

3.1.1. Battery Electric Bus

3.1.2. Hybrid Electric Bus

3.1.3. Plug-In Hybrid Electric Bus

3.2.  By Battery

3.2.1. Lithium Iron Phosphate Battery

3.2.2. Lithium Nickel Manganese Cobalt Oxide

3.2.3. Others

3.3.  By Length

3.3.1. Less than 10m

3.3.2. More than 10m

4. Industry Overview

4.1.  Industry Dynamics

4.1.1. Major Drivers

4.1.2. Major Restraints

4.1.3. Key Trends

4.1.4. Key Opportunities

4.2.  Industry Ecosystem

4.2.1. Value Chain Analysis

4.2.2. Regulatory Framework

4.3.  Competitive Insight

4.3.1. Market Share Analysis of Key Players

4.4.  Technology Insight

5. North America Market Estimate and Forecast

5.1.  By Vehicle Type

5.2.  By Battery

5.3.  By Length

5.4.  By Country

5.4.1. U.S. Market Estimate and Forecast

5.4.2. Canada Market Estimate and Forecast

6. Europe Market Estimate and Forecast

6.1.  By Vehicle Type

6.2.  By Battery

6.3.  By Length

6.4.  By Country

6.4.1. Germany Market Estimate and Forecast

6.4.2. France Market Estimate and Forecast

6.4.3. U.K. Market Estimate and Forecast

6.4.4. Spain Market Estimate and Forecast

6.4.5. Sweden Market Estimate and Forecast

6.4.6. Poland Market Estimate and Forecast

6.4.7. Netherlands Market Estimate and Forecast

6.4.8. Austria Market Estimate and Forecast

6.4.9. Belgium Market Estimate and Forecast

6.4.10.  Rest of Europe Market Estimate and Forecast

7. Asia-Pacific Market Estimate and Forecast

7.1.  By Vehicle Type

7.2.  By Battery

7.3.  By Length

7.4.  By Country

7.4.1. China Market Estimate and Forecast

7.4.2. India Market Estimate and Forecast

7.4.3. Rest of Asia-Pacific Market Estimate and Forecast

8. Rest of the World Market Estimate and Forecast

8.1.  By Vehicle Type

8.2.  By Battery

8.3.  By Length

8.4.  By Country

8.4.1. Brazil Market Estimate and Forecast

8.4.2. Other Countries Market Estimate and Forecast

9. Company Profiles

9.1.  Daimler AG

9.1.1. Snapshot

9.1.2. Overview

9.1.3. Offerings

9.1.4. Financial Insight

9.1.5. Recent Developments

9.2.  New Flyer Industries Inc.

9.2.1. Snapshot

9.2.2. Overview

9.2.3. Offerings

9.2.4. Financial Insight

9.2.5. Recent Developments

9.3.  Zhengzhou Yutong Group

9.3.1. Snapshot

9.3.2. Overview

9.3.3. Offerings

9.3.4. Financial Insight

9.3.5. Recent Developments

9.4.  EBUSCO

9.4.1. Snapshot

9.4.2. Overview

9.4.3. Offerings

9.4.4. Financial Insight

9.4.5. Recent Developments

9.5.  King Long United Automotive Industry Co. Ltd.

9.5.1. Snapshot

9.5.2. Overview

9.5.3. Offerings

9.5.4. Financial Insight

9.5.5. Recent Developments

9.6.  Shenzhen Wuzhoulong Motors

9.6.1. Snapshot

9.6.2. Overview

9.6.3. Offerings

9.6.4. Financial Insight

9.6.5. Recent Developments

9.7.  BYD Company Limited

9.7.1. Snapshot

9.7.2. Overview

9.7.3. Offerings

9.7.4. Financial Insight

9.7.5. Recent Developments

9.8.  Alexander Dennis Limited

9.8.1. Snapshot

9.8.2. Overview

9.8.3. Offerings

9.8.4. Financial Insight

9.8.5. Recent Developments

9.9.  Proterra Inc.

9.9.1. Snapshot

9.9.2. Overview

9.9.3. Offerings

9.9.4. Financial Insight

9.9.5. Recent Developments

10.  Appendix

10.1. Exchange Rates

10.2. Abbreviations

Note: Financial insights and recent developments are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources

Table 2 Study Periods

Table 3 Data Reporting Unit

Table 4 Global Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2020)

Table 5 Global Electric Bus Market Size, By Vehicle Type, ‘000 Units (2021 – 2027)

Table 6 Global Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2020)

Table 7 Global Electric Bus Market Size, By Battery, ‘000 Units (2021 – 2027)

Table 8 Global Electric Bus Market Size, By Length, ‘000 Units (2015 – 2020)

Table 9 Global Electric Bus Market Size, By Length, ‘000 Units (2021 – 2027)

Table 10 Global Electric Bus Market Size, By Region, ‘000 Units (2015 – 2020)

Table 11 Global Electric Bus Market Size, By Region, ‘000 Units (2021 – 2027)

Table 12 North America Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2020)

Table 13 North America Electric Bus Market Size, By Vehicle Type, ‘000 Units (2021 – 2027)

Table 14 North America Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2020)

Table 15 North America Electric Bus Market Size, By Battery, ‘000 Units (2021 – 2027)

Table 16 North America Electric Bus Market Size, By Length, ‘000 Units (2015 – 2020)

Table 17 North America Electric Bus Market Size, By Length, ‘000 Units (2021 – 2027)

Table 18 North America Electric Bus Market Size, By Country, ‘000 Units (2015 – 2020)

Table 19 North America Electric Bus Market Size, By Country, ‘000 Units (2021 – 2027)

Table 20 Europe Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2020)

Table 21 Europe Electric Bus Market Size, By Vehicle Type, ‘000 Units (2021 – 2027)

Table 22 Europe Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2020)

Table 23 Europe Electric Bus Market Size, By Battery, ‘000 Units (2021 – 2027)

Table 24 Europe Electric Bus Market Size, By Length, ‘000 Units (2015 – 2020)

Table 25 Europe Electric Bus Market Size, By Length, ‘000 Units (2021 – 2027)

Table 26 Europe Electric Bus Market Size, By Country, ‘000 Units (2015 – 2020)

Table 27 Europe Electric Bus Market Size, By Country, ‘000 Units (2021 – 2027)

Table 28 Asia-Pacific Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2020)

Table 29 Asia-Pacific Electric Bus Market Size, By Vehicle Type, ‘000 Units (2021 – 2027)

Table 30 Asia-Pacific Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2020)

Table 31 Asia-Pacific Electric Bus Market Size, By Battery, ‘000 Units (2021 – 2027)

Table 32 Asia-Pacific Electric Bus Market Size, By Length, ‘000 Units (2015 – 2020)

Table 33 Asia-Pacific Electric Bus Market Size, By Length, ‘000 Units (2021 – 2027)

Table 34 Asia-Pacific Electric Bus Market Size, By Country, ‘000 Units (2015 – 2020)

Table 35 Asia-Pacific Electric Bus Market Size, By Country, ‘000 Units (2021 – 2027)

Table 36 RoW Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2020)

Table 37 RoW Electric Bus Market Size, By Vehicle Type, ‘000 Units (2021 – 2027)

Table 38 RoW Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2020)

Table 39 RoW Electric Bus Market Size, By Battery, ‘000 Units (2021 – 2027)

Table 40 RoW Electric Bus Market Size, By Length, ‘000 Units (2015 – 2020)

Table 41 RoW Electric Bus Market Size, By Length, ‘000 Units (2021 – 2027)

Table 42 RoW Electric Bus Market Size, By Country, ‘000 Units (2015 – 2020)

Table 43 RoW Electric Bus Market Size, By Country, ‘000 Units (2021 – 2027)

Table 44 Snapshot – Daimler AG

Table 45 Snapshot – New Flyer Industries Inc.

Table 46 Snapshot – Zhengzhou Yutong Group

Table 47 Snapshot – EBUSCO

Table 48 Snapshot – King Long United Automotive Industry Co. Ltd.

Table 49 Snapshot – Shenzhen Wuzhoulong Motors

Table 50 Snapshot – BYD Company Limited

Table 51 Snapshot – Alexander Dennis Limited

Table 52 Snapshot – Proterra Inc.

List of Figures

Figure 1 Market Coverage

Figure 2 Research Phases

Figure 3 Secondary Sources for Different Parameters

Figure 4 Methodology

Figure 5 Data Mining & Exploration

Figure 6 Data Triangulation

Figure 7 Assumptions for Market Estimation and Forecast

Figure 8 Global Electric Bus Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 Global Electric Bus Market Highlight

Figure 12 Global Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2027)

Figure 13 Global Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2027)

Figure 14 Global Electric Bus Market Size, By Length, ‘000 Units (2015 – 2027)

Figure 15 Global Electric Bus Market Size, By Region, ‘000 Units (2015 – 2027)

Figure 16 North America Electric Bus Market Highlight

Figure 17 North America Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2027)

Figure 18 North America Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2027)

Figure 19 North America Electric Bus Market Size, By Length, ‘000 Units (2015 – 2027)

Figure 20 North America Electric Bus Market Size, By Country, ‘000 Units (2015 – 2027)

Figure 21 Europe Electric Bus Market Highlight

Figure 22 Europe Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2027)

Figure 23 Europe Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2027)

Figure 24 Europe Electric Bus Market Size, By Length, ‘000 Units (2015 – 2027)

Figure 25 Europe Electric Bus Market Size, By Country, ‘000 Units (2015 – 2027)

Figure 26 Asia-Pacific Electric Bus Market Highlight

Figure 27 Asia-Pacific Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2027)

Figure 28 Asia-Pacific Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2027)

Figure 29 Asia-Pacific Electric Bus Market Size, By Length, ‘000 Units (2015 – 2027)

Figure 30 Asia-Pacific Electric Bus Market Size, By Country, ‘000 Units (2015 – 2027)

Figure 31 RoW Electric Bus Market Highlight

Figure 32 RoW Electric Bus Market Size, By Vehicle Type, ‘000 Units (2015 – 2027)

Figure 33 RoW Electric Bus Market Size, By Battery, ‘000 Units (2015 – 2027)

Figure 34 RoW Electric Bus Market Size, By Length, ‘000 Units (2015 – 2027)

Figure 35 RoW Electric Bus Market Size, By Country, ‘000 Units (2015 – 2027)