Electric School Bus Market Growth (33.8%) 2023-2028: Share, Top Manufacturers, Sales Analysis, Demand and Forecast

Electric school bus Market Overview:

The global electric school bus market is expected to exhibit a growth rate (CAGR) of 33.8% during 2023-2028.

An electric school bus represents a type of electric vehicle (EV) with quiet operations that enables the driver to focus better on the road. It generally has low maintenance costs as compared to conventional school buses that run on propane, diesel, gasoline, or compressed natural gas (CNG). An electric school bus helps to create new jobs in green manufacturing, save money on operating costs, and provide valuable storage for renewable energy via vehicle-to-grid (V2G) technologies. Presently, it is extensively utilized by schools for generating additional revenue and selling excess electricity to utility providers.

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What are the growth prospects and trends in the electric school bus industry?

The inflating need for fuel-efficient and high-performance transportation in educational institutions across countries is primarily driving the electric school bus market. Additionally, the rising number of physical health and cognitive development issues among students, owing to the increasing utilization of diesel school buses, is further bolstering the market growth. Besides this, continuous technological advancements in the automotive industry and the elevating levels of urbanization are acting as significant growth-inducing factors. Moreover, the easy availability of charging infrastructures and electronic components is propelling the demand for electric school buses, which is positively influencing the global market. Apart from this, the launch of numerous favorable policies by government bodies to promote the use of electric vehicles, owing to the growing levels of air pollution, is also stimulating the market growth. Furthermore, leading manufacturers are focusing on mergers and acquisitions (M&A) to develop localized transition plans, which is projected to fuel the electric school bus market in the coming years.

Who are the key players operating in the industry?

• Blue Bird Corporation
• BYD Company Ltd.
• Collins Bus Corporation (REV Group Inc.)
• Dominion Energy Inc.
• Mercedes-Benz Group AG
• Beiqi Foton Motor Co. Ltd. (Beijing Automotive Group Co. Ltd.)
• Navistar International Corporation (Traton Group)
• The Lion Electric Company.

Key Market Segmentation:

The report has segmented the global electric school bus market based on type, capacity design type, sales channel, application and region.

Breakup by Type:
• Battery Electric School Bus
• Hybrid School Bus

Breakup by Capacity Design Type:
• Type A
• Type C
• Type D

Breakup by Sales Channel:
• Direct Sales
• Distributor

Breakup by Application:
• Preschool Education
• Primary School
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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