Electric School Bus Market Share, Top Manufacturers, Sales, Forecast 2023-2028

Electric school bus Market Outlook:

IMARC Group, a leading market research company, has recently releases report titled "Electric School Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The global electric school bus market size reached US$ 20.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 121.4 Billion by 2028, exhibiting a growth rate (CAGR) of 33.8% during 2023-2028.

Electric school buses are a type of electric vehicle (EV) that operate quietly, providing drivers with an increased focus on the road. They have significantly lower maintenance costs than conventional school buses that run on diesel, propane, gasoline, or compressed natural gas (CNG). They also help save money on operating costs, create new jobs in green manufacturing and provide valuable storage for renewable energy through vehicle-to-grid (V2G) technologies. Schools widely use these electric buses to sell excess electricity to utility providers, generating additional revenue. As a result, electric school buses find extensive applications in schools across the globe, seeking cost-effective and sustainable transportation options.

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

The global electric school bus market is primarily driven by rising demand for school buses that are fuel-efficient and high-performance. Moreover, the surging adoption of electric buses, as it offers numerous benefits, including high voltage and functional safety, cold-weather performance, reliability, and durability, is positively influencing the market growth. Additionally, the escalating demand for electric school buses due to the easy availability of charging infrastructure and electronic components has catalyzed market growth.
Furthermore, several favorable initiatives by governments of numerous countries to promote the use of electric school buses owing to rising air pollution levels are contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, declining costs of lithium-ion (Li-ion) batteries, and rapid urbanization, are also anticipated to create a positive market outlook.

Some of these key players include:
• 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
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Key highlights of the report:
• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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This release was published on openPR.