Electric Bus Market Growth, Trends & Forecast | Sustainable Transportation - BYD, YUTONG, PROTERRA, VDL GROEP, AB VOLVO, DAIMLER AG

Latest News and Market Study On Electric Bus Market

Electric Bus Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Global Electric Bus Market reached USD 53 billion in 2022 and is expected to reach USD 920 billion by 2031, growing with a CAGR of 42.8% during the forecast period 2024-2031

An Electric Bus is a vehicle that runs entirely on electricity, powered by batteries or electric motors, instead of conventional internal combustion engines. These buses are designed to reduce carbon emissions, enhance energy efficiency, and offer a more sustainable alternative to diesel-powered buses in urban transportation. Electric buses are increasingly being adopted for public transit due to their lower operating costs and environmental benefits.

Latest News:

JBM Ecolife Mobility, a subsidiary of JBM Auto, has secured an order worth ₹5,500 crore to supply 1,021 electric buses under the PM e-Bus Sewa Scheme-2 initiative.

Ten years ago, electric buses had 50-100 kWh batteries and limited charging capacities of 50-60 kW, leading to long charging hours. Today, buses with 300 kWh batteries and charging speeds of 180-240 kW can charge fully in 1.5-2 hours, enabling longer travel hours and shorter charging times. Inter-city trips of 300-400 kilometers can be comfortably completed with a planned food break that doubles as a charging stop.

List of the Key Players in the Electric Bus Market:

BYD, YUTONG, PROTERRA, VDL GROEP, AB VOLVO, DAIMLER AG, NFI GROUP, CAF, EBUSCO BV, KING LONG and KARSAN.

Industry Development:

In 2022, BYD, the Chinese electric vehicle manufacturer, launched its latest electric bus model, the K12A. With a remarkable range of 300 miles on a single charge, the K12A is equipped with advanced safety features and passenger amenities, further solidifying BYD's position as a leading player in the electric bus market.

Proterra, an American electric bus manufacturer, introduced its next-generation ZX5 electric bus in 2022. Offering an extended range of up to 330 miles, the ZX5 features high-performance drivetrain technology, highlighting Proterra's dedication to advancing electric bus innovation.

In 2022, Volvo, the Swedish manufacturer, unveiled the Volvo 7900 Electric Articulated, an electric bus designed to meet high-capacity demands, further advancing the shift towards sustainable public transportation solutions.

Growth Forecast Projected:

The Global Electric Bus Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Electric Bus Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Electric Bus Market:

By Propulsion: BEV, FCEV, PHEV

By Bus Length: Less Than 9 Meter, 9 to 14 Meter, More Than 14 Meter

By Vehicle Range: Up To 200 Miles, More Than 200 Miles

By Battery Capacity: Up To 400 KWH, More Than 400 KWH

By Power Output: Up To 250 KWH, More Than 250 KWH

By Battery: Lithium-Nickel-Manganese-Cobalt Oxide, Lithium-Iron-Phosphate, Others

By Application: Intercity, Intracity

By End-User: Government, Private

Regional Analysis for Electric Bus Market:

The regional analysis of the Electric Bus Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Electric Bus market?

➠ Who are the leading manufacturers in the global Electric Bus industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Electric Bus industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Electric Bus market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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