Electric Bus Market is expected to reach USD 920 billion by 2031 - VDL GROEP, AB VOLVO, DAIMLER AG.

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

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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An electric bus is a type of public transportation vehicle powered entirely by electricity, typically sourced from onboard batteries or overhead power lines. These buses offer an eco-friendly alternative to traditional diesel-powered buses, significantly reducing carbon emissions and noise pollution. With advancements in battery technology, electric buses now feature improved range, faster charging times, and lower operational costs. They are increasingly adopted in urban areas to support sustainable mobility initiatives. Governments worldwide are investing in electric bus fleets to achieve cleaner and greener public transport systems.

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, Chinese electric vehicle manufacturer BYD introduced the K12A, its latest electric bus model. The K12A offers a remarkable 300-mile range on a single charge and features advanced safety systems and passenger comforts. This launch reinforced BYD's leadership in the electric bus market, showcasing its commitment to innovation and sustainability.

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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