U.S. Electric Bus Market Competitive Scenario of the Market, Major Competitors, Market Share, Benchmarking, Investments and Merger Acquisitions

The U.S. electric bus market size is projected to reach $1,948.5 million by 2024, registering a CAGR of 18.5% during the forecast period.

The growth of the market is primarily driven by several federal, regional, and state grants and incentive programs. In addition, low cost of ownership, coupled with low maintenance cost of electric bus, specially battery electric bus (BEB) is expected to benefit the market during the forecast period.

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Based on vehicle type, the U.S. electric bus market has been categorized into BEB, plug-in hybrid electric bus (PHEB), and hybrid electric bus (HEB). HEB dominated the market in the historical period. However, the market for BEBs is expected to witness the fastest growth during the forecast period.

On the basis of length, the U.S. electric bus market has been categorized into less than 40-foot and more than 40-foot buses. More than 40-foot bus is expected to remain larger category in the market, during the forecast period. Difference in fuel mileage between diesel hybrid and diesel buses favors hybrid technology for longer hybrid buses.

On the basis of charging type, the U.S. electric bus market is categorized into plug-in, pantograph, and inductive. Among these, plug-in was the largest category, accounting for more than 75% revenue share in 2017, due to its early adoption in the country for personal transport vehicles.

BEBs are currently available in two generalized models: a short-range bus with a smaller on-board battery that requires more frequent, on-route charging; and an extended range bus with a larger on-board battery that is designed to charge more slowly overnight (depot charge BEB).

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The U.S. electric bus market is still in its nascent phase, with the presence of few major players. Some of the major BEB manufacturers in the market are Proterra Inc., BYD Motors Inc., and NFI Group Inc. NFI Group Inc. and Gillig LLC are the two major HEB manufacturers. Other key players operating in the market include Blue Bird Corporation, Nova Bus Corporation, ELDORADO NATIONAL-CALIFORNIA Inc., and The Lion Electric Co.

U.S. ELECTRIC BUS MARKET SEGMENTATION
By Vehicle Type
• BEB
• PHEB
• HEB

By Battery
• Lithium-Ion (Li-Ion)
• Nickel-Metal Hydride (NiMH)
• Others

By Charging Type
• Plug-In
• Pantograph
• Inductive

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