Press release
Global Electric Bus Market Projected to Reach USD 116.46 Billion by 2029, Exhibiting a 19.88% CAGR
The Global Electric Bus Market is experiencing significant growth, driven by technological innovations and increasing government support for sustainable transportation solutions. According to Mordor Intelligence, the market size is estimated at USD 56.4 billion in 2025 and is expected to reach USD 116.46 billion by 2029, registering a compound annual growth rate (CAGR) of 19.88% during the forecast period (2025-2029).
Report Overview - https://www.mordorintelligence.com/industry-reports/electric-bus-market
Key Trends
Technological Advancements in Battery Efficiency
Recent developments in battery technology have led to significant improvements in energy density, charging speed, and overall efficiency of electric buses. These advancements contribute to extended driving ranges and reduced operational costs, making electric buses more appealing to transit authorities and operators. For instance, the adoption of solid-state batteries and advancements in thermal management systems have enhanced the performance and safety of electric buses.
Government Initiatives and Subsidies
Governments worldwide are implementing policies and providing financial incentives to promote the adoption of electric buses. These initiatives include subsidies for vehicle purchases, investments in charging infrastructure, and stringent emission regulations. Such support accelerates the transition to zero-emission public transportation systems. For example, the FAME II scheme in India offers incentives for the deployment of electric buses in urban areas.
Expansion of Charging Infrastructure
The development of robust charging infrastructure is crucial for the widespread adoption of electric buses. Efforts are underway globally to establish fast-charging stations and depot charging facilities, ensuring efficient operations for electric bus fleets. Innovations such as wireless charging and pantograph charging systems are also being explored to enhance convenience and reduce downtime.
Market Segmentation
The electric bus market is segmented based on fuel category and geography.
By Fuel Category:
Battery Electric Vehicle (BEV): Dominates the market due to zero tailpipe emissions and lower maintenance costs.
Fuel Cell Electric Vehicle (FCEV): Gaining traction, especially in regions focusing on hydrogen infrastructure development.
Hybrid Electric Vehicle (HEV): Serves as a transitional technology, offering improved fuel efficiency and reduced emissions.
Plug-in Hybrid Electric Vehicle (PHEV): Combines electric propulsion with an internal combustion engine, providing flexibility in operations.
By Geography:
Asia-Pacific: Leading the market with significant contributions from China and India.
Europe: Experiencing rapid growth due to stringent emission regulations and government support.
North America: Notable growth driven by federal and state-level initiatives promoting zero-emission public transportation.
Middle East and Africa: Emerging markets focusing on sustainable transportation solutions.
South America: Witnessing steady growth with increasing urbanization and government initiatives.
Get a Customized Report Tailored to Your Requirements: https://www.mordorintelligence.com/market-analysis/battery-evs
Key Players
The electric bus market features several key players driving innovation and competition:
BYD Auto Co. Ltd.: A leading Chinese manufacturer known for its extensive range of electric buses and significant global market share.
Proterra Inc.: A prominent American company specializing in the design and manufacture of zero-emission electric transit vehicles.
Volvo Group: A Swedish multinational manufacturing corporation offering a variety of electric bus models with advanced safety features.
Daimler Truck Holding AG: A German automotive corporation producing electric buses under the Mercedes-Benz brand, focusing on urban mobility solutions.
Zhejiang Geely Holding Group Co. Ltd.: A Chinese multinational automotive company investing heavily in electric bus development and production.
These companies are investing in research and development to introduce innovative features and capabilities, aiming to meet the evolving demands of the public transportation sector.
Conclusion
The global electric bus market is poised for substantial growth, driven by technological advancements, supportive government policies, and a growing emphasis on sustainable urban mobility. As key players continue to innovate and expand their offerings, electric buses are set to become a cornerstone of public transportation systems worldwide, contributing to reduced emissions and enhanced passenger experiences.
Industry Related Reports
India Electric Bus Market: The India Electric Bus Market is segmented by fuel category, including Battery Electric Vehicles (BEV), Fuel Cell Electric Vehicles (FCEV), Hybrid Electric Vehicles (HEV), and Plug-in Hybrid Electric Vehicles (PHEV). The report provides market size in terms of both market value (USD) and market volume (units). Additionally, it includes a detailed market breakdown by vehicle type, vehicle configuration, vehicle body type, propulsion type, and fuel category.
To know more visit this link: https://www.mordorintelligence.com/industry-reports/india-electric-bus-market
Europe Electric Bus Market: The report provides an analysis of Automotive Electric Bus & Coach Manufacturers and is segmented by propulsion type, battery type, consumer type, and country. By propulsion type, the market includes Battery Electric Bus, Plug-in Hybrid Electric Bus, and Fuel Cell Electric Bus. In terms of battery type, the segmentation includes Lithium-ion, Nickel-Metal Hydride (NiMH), and Other battery types. Based on consumer type, the market is divided into Government and Fleet Operators. Additionally, the report analyzes the market by country.
To know more visit this link: https://www.mordorintelligence.com/industry-reports/europe-electric-bus-market
United States Electric Bus Market: The United States Electric Bus Market is categorized by fuel type, including Battery Electric Vehicles (BEV), Fuel Cell Electric Vehicles (FCEV), and Hybrid Electric Vehicles (HEV). The report provides market size in terms of both market value (USD) and market volume (units). Additionally, it includes a detailed segmentation based on vehicle type, vehicle configuration, vehicle body type, propulsion type, and fuel category.
To know more visit this link: https://www.mordorintelligence.com/industry-reports/united-states-electric-bus-market
For any inquiries or to access the full report, please contact:
media@mordorintelligence.com
https://www.mordorintelligence.com/
About Mordor Intelligence:
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.
With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
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