Electric Mid- and Large (9-14m) Bus Market Expected to Grow at a CAGR of 17.5% During the Forecast Period 2024-2032

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐢𝐝- 𝐚𝐧𝐝 𝐋𝐚𝐫𝐠𝐞-𝐬𝐢𝐳𝐞𝐝 𝐁𝐮𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The electric mid- and large-sized bus market has been growing in response to the global shift towards sustainable and eco-friendly transportation solutions. Electric buses are seen as a cleaner and more energy-efficient alternative to traditional buses powered by internal combustion engines. The market is influenced by several factors, including environmental concerns, government regulations, advancements in battery technology, and the increasing focus on public transportation electrification.

The global Electric Mid- and Large (9-14m) Bus market size is expected to reach USD 12.25 Million by 2032, according to a new study by Polaris Market Research. The report "Electric Mid- and Large (9-14m) Bus Market Share, Size, Trends, Industry Analysis Report, By Propulsion (FCEV, Diesel/Gasoline/CNG-LNG, HEV/PHEV, BEV, LFP); By Application; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global electric Mid- and Large (9-14m) bus industry is experiencing growth propelled by an increasing demand for environmentally friendly, air-purifying, and fuel-efficient buses. Major countries are undertaking initiatives to replace their conventional bus fleets with electric buses. The surge is further fueled by escalating environmental concerns, stringent regulations, and governmental efforts to achieve zero-emission targets.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.polarismarketresearch.com/industry-analysis/electric-mid-and-large-9-14m-bus-market/request-for-sample

The Chinese government's policies favor electric mid- & large buses over their internal combustion engine (ICE) counterparts, providing advantages such as exemptions from specific traffic restrictions or congestion charges, priority access to bus lanes, and preferential parking policies. The New Energy Vehicle Subsidy Program reinforces this preference by granting subsidies based on size and range for the procurement of new energy vehicles, including electric mid- & large buses. For instance, a 12-meter electric bus with a range of 200 kilometers may be eligible for a subsidy of ¥500,000 (USD 75,000). Consequently, China is positioned to wield a significant impact on the future of both the electric bus (ebus) and the overall bus market, maintaining a market share of over 40% for both until 2030.

There is a significant shift anticipated in the procurement practices of operators and cities within the electric mid- & large bus sector. This transition entails a departure from capital expenditure (CAPEX) towards operational expenditure (OPEX)-based purchasing. It involves the adoption of new business models like "bus-as-a-service," "battery-as-a-service," and "depot-as-a-service," driven by the heightened CAPEX costs of electric buses (eBuses) and the necessity for long-term support of batteries and infrastructure. Public transport operators are benefiting from smart card and NFC ticketing solutions introduced by NXP's Mifare, making the original transit cards obsolete in many cities.

Countries seeking to replace their current public bus fleets to electric are exploring electric buses ranging from 9 to 14 meters. For instance, the Indian government is offering incentives, providing up to a 40% reduction in the cost of a bus, equivalent to USD 77,000 for a typical electric bus measuring 10 to 12 meters in length. Such initiatives are expected to boost the acceptance of electric buses in this category in the future.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬:

Stringent environmental regulations and sustainability goals set by governments and municipalities worldwide are driving the adoption of electric buses. Many regions are aiming to reduce greenhouse gas emissions and air pollution by transitioning their public transportation fleets to electric vehicles.

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲:

Improvements in battery technology, including higher energy density, longer range, and faster charging capabilities, have significantly contributed to the growth of the electric bus market. Enhanced battery performance addresses some of the key challenges such as range anxiety and charging infrastructure limitations.

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐒𝐮𝐛𝐬𝐢𝐝𝐢𝐞𝐬:

Many governments and local authorities offer financial incentives, subsidies, and grants to encourage the adoption of electric buses. These incentives can include tax credits, subsidies for purchasing electric buses, and funding for charging infrastructure development. Such initiatives play a crucial role in making electric buses more economically viable for transit agencies.

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬:

𝐔𝐫𝐛𝐚𝐧 𝐏𝐮𝐛𝐥𝐢𝐜 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧:

Electric mid- and large-sized buses are commonly used for urban public transportation. They are well-suited for city transit systems, providing a sustainable and efficient means of moving large numbers of people within metropolitan areas.

𝐀𝐢𝐫𝐩𝐨𝐫𝐭 𝐒𝐡𝐮𝐭𝐭𝐥𝐞𝐬 𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐫𝐜𝐢𝐭𝐲 𝐑𝐨𝐮𝐭𝐞𝐬:

Electric buses are increasingly being deployed for airport shuttles and intercity routes. The ability of electric buses to cover longer distances makes them suitable for connecting cities and transporting passengers between airports and city centers.

𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐚𝐧𝐝 𝐒𝐢𝐠𝐡𝐭𝐬𝐞𝐞𝐢𝐧𝐠:

Electric buses are also employed in the tourism and sightseeing industry. Many cities around the world are adopting electric buses for guided tours, offering tourists a sustainable and quiet transportation option while exploring popular attractions.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/3272/2

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐢𝐝- 𝐚𝐧𝐝 𝐋𝐚𝐫𝐠𝐞 (𝟗-𝟏𝟒𝐦) 𝐁𝐮𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• Lithium iron phosphate (LFP) batteries are poised to dominate the market throughout the forecast period. These batteries offer several advantages, including being lightweight, cost-effective, and demonstrating higher thermal stability with enhanced discharge and charge efficiency when compared to NMC batteries. LFP batteries boast a longer lifespan, require minimal maintenance, and provide optimized safety features. Due to these benefits, LFP batteries are extensively utilized in high-performance electric mid- and large buses, delivering a high current rate, ensuring a high voltage-bearing capacity, and featuring an extended cycle life.

• The City/Transit Bus segment is set to take the lead in the market by 2023. These buses are highly favored in Asia Pacific, Europe, and North America, particularly for city/transit applications. Their popularity stems from their suitability for urban areas, offering a relatively larger seating capacity and easy maneuverability through narrow city streets, efficiently navigating city traffic. Furthermore, the provided battery range in these buses is sufficient for most urban transit routes, and their ability for relatively quick charging makes them practical for daily operations by public transport bodies.

• In 2023, the Asia Pacific region emerged as the leading global market, holding the largest market share. The significant surge in regional demand is primarily attributed to the escalating emphasis on reducing urban pollution and decreasing reliance on fossil fuels, complemented by expanding government initiatives that advocate for clean public transportation. Notably, China stands out as the largest market on a global scale.

• The global key market players include AB Volvo, BYD, CAF, VDL Groep, Yutong.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐚𝐧𝐝 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 @ https://www.polarismarketresearch.com/industry-analysis/electric-mid-and-large-9-14m-bus-market/request-for-discount-pricing

Polaris Market Research has segmented the Electric Mid- and Large (9-14m) Bus market report based on propulsion, application, and region:

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐢𝐝- 𝐚𝐧𝐝 𝐋𝐚𝐫𝐠𝐞 (𝟗-𝟏𝟒𝐦) 𝐁𝐮𝐬, 𝐏𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 (𝐑𝐞𝐯𝐞𝐧𝐮𝐞 - 𝐔𝐒𝐃 𝐌𝐢𝐥𝐥𝐢𝐨𝐧, 𝟐𝟎𝟏𝟗 - 𝟐𝟎𝟑𝟐)

FCEV
Diesel/Gasoline/CNG-LNG
HEV/PHEV
BEV
LFP

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐢𝐝- 𝐚𝐧𝐝 𝐋𝐚𝐫𝐠𝐞 (𝟗-𝟏𝟒𝐦) 𝐁𝐮𝐬, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 (𝐑𝐞𝐯𝐞𝐧𝐮𝐞 - 𝐔𝐒𝐃 𝐌𝐢𝐥𝐥𝐢𝐨𝐧, 𝟐𝟎𝟏𝟗 - 𝟐𝟎𝟑𝟐)

Coaches
City/Transit Bus
School Bus
Midi Bus

𝐓𝐡𝐞 𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐂𝐨𝐯𝐞𝐫𝐬 𝐅𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐊𝐞𝐲 𝐑𝐞𝐠𝐢𝐨𝐧𝐬:

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and the rest of South America)

The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐌𝐨𝐫𝐞:

𝐖𝐢𝐫𝐞𝐥𝐞𝐬𝐬 𝐌𝐞𝐬𝐡 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/wireless-mesh-network-market-insights-connecting-future-mohit-harne-axhqf

𝐕𝐨𝐢𝐜𝐞 𝐀𝐧𝐝 𝐒𝐩𝐞𝐞𝐜𝐡 𝐑𝐞𝐜𝐨𝐠𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/voice-speech-recognition-market-insights-unveiling-bitjf

𝐁𝐞𝐚𝐫𝐢𝐧𝐠𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/bearings-market-dynamics-navigating-trends-opportunities-hs8rf

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐓𝐞𝐬𝐭 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/automated-test-equipment-market-dynamics-testing-future-g0qbf

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

Polaris Market Research
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New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.

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