Press release
Electric Bus Market: Growth Driven by Sustainable Mobility & Technological Advancements - Global Forecast to 2030
Electric Bus Market by Propulsion (BEV, FCEV), Battery (LFP, NMC, NCA), Length (14m), Application (City, Coach, Midi, School), Seating/Battery Capacity, Range, Power Output, Autonomy Level, Component, Consumer Region - Global Forecast to 2030The growth of the electric bus market is driven by countries prioritizing the electrification of their public transportation fleets with zero-emission mobility through subsidies, tax exemptions, and favorable regulations prompted by emission concerns. For instance, the EU's CO2 targets for HD vehicles demand a 45% CO2 reduction by 2030, 65% by 2035, and 90% by 2040. According to the European Green Deal and REPowerEU goals, all new urban buses should be zero-emission by 2030. In February 2025, the US EPA launched the Clean School Bus Program with an investment of USD 5 bn to replace the existing buses with electric and alternative buses. Apart from government initiatives, factors such as - advancements in battery technology and the economic viability due to lower total cost of ownership - are also driving the market growth. According to ACEA, diesel bus sales in Europe reached 22,467 units in 2024, while electric bus sales totaled 6,587 units, accounting for 22% of the market. This represented a 3% increase in electric bus adoption compared to 2023. The slight rise in electric bus adoption represents Europe's ongoing shift towards sustainable public transport, driven by growing investment in electrification.
Browse more than 526 market data tables and 94 figures spread through more than 458 Pages and in-depth TOC on "Electric Bus Market: Global Forecast to 2030."
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The 9-14 m is the largest electric bus segment.
Most public transport fleets worldwide have incorporated the 9-14 m buses. These buses can generally travel up to 350 km on a single charge, which becomes ideal for urban and suburban routes. The Asia Pacific region is expected to dominate the 9-14 m electric buses during the forecast period owing to the adoption of large volumes of demand from key countries such as China and India. China is expected to account for >70% of the total electric buses in the world. China's highest demand for e-buses comes from major urban regions such as Guangdong, Jiangsu, and Zhejiang, which are driven by strong government policies promoting electrification. In some countries, municipalities from various states offer these subsidies and tax benefits to public transport systems.
Most of the market leaders in the electric bus industry across the globe are BYD (China), Yutong (China), King Long (China), CRRC Corporation (China), and Tata Motors (India), which offer 9-14 m electric buses. Other global manufacturers, such as Proterra (US), CAF (Solaris) (Spain), VDL Groep (Netherlands), and AB Volvo (Sweden), also offer this segment of buses. Such a greater availability of models and broad incorporation of 9-14 m segment buses are the key reasons for the segment to dominate the electric bus market.
LFP is expected to be the fastest-growing battery type for electric buses.
The LFP batteries are low-priced and have higher thermal stability than NMC batteries. These batteries are also preferred for long-haul buses as they can accommodate heavy battery packs built with low-density cells and offer the required range. The only challenge with this battery type is its lower energy density than NMC batteries. Asia Pacific is expected to dominate the LFP batteries due to the low cost of these batteries as compared to NMC batteries. Asia Pacific dominates the LFP market as all Chinese OEMs, such as BYD, Yutong, and Zhongtong, use LFP batteries in electric buses. The Chinese OEMs use LFP batteries over NMC due to their superior safety, longer lifespan, and cost-effectiveness. Some of the examples are Yutong E12, BYD K9, Zhongtong Bus LCK6125EVG, King Long XMQ6127EVG, Olectra BYD eBuzz K9, JBM ECO LIFE, and others. As Asia is the largest market and Chinese OEMs dominate the global eBus market, the demand for LFP batteries is expected during the forecast period.
Alternatively, NMC batteries are preferred in Europe and North America due to their higher energy density, better performance in cold climates, and fast-charging capabilities at comparatively lower cost than LFP batteries, catering to long-range and high-power applications. Thus, there is a rising demand for LFP batteries over NMC. However, the export of LFP batteries is also growing from Asia to North America and Europe due to more significant production and volume fitment in the buses. The promising benefits of low-cost LFP batteries over NMC are expected to raise the demand for LFP batteries.
Asia Pacific is estimated to be the largest market for electric buses.
The Asia Pacific region is projected to account for the largest share of the electric bus market during the forecast period. China accounted for around 70% of the global market share in 2024. Most Chinese cities are expected to achieve electrification of the public transport fleet shortly, which is expected to drive the further growth of the electric bus market in China. Further, India's green mobility movement has gained momentum with the approval of the 'PM-eBus Sewa' and (PM E-DRIVE) scheme initiative. India aims to replace 800,000 diesel buses with electric buses by 2030, with initiatives like FAME I and II, which have already sanctioned 5,595 e-buses for the public sector. Other countries like Japan, South Korea, and Singapore have planned to upgrade their public and private bus fleet with electric ones. Key OEMs such as Tata Motors (India), JBM Group (India), Ashok Leyland (India), and Mitsubishi Fuso Truck and Bus Corporation (Japan) are emphasizing the introduction of more electric bus models for public transportation to reduce emissions and lower dependence on fossil fuels. With its dominant production and sales volume, the region remains at the forefront of sustainable urban transportation solutions. This leadership position solidifies the regional importance and enables significant growth in the global electric bus market.
The report profiles key players such as BYD Company Ltd. (China), Yutong Co., Ltd. (China), VDL Groep (Netherlands), AB Volvo (Sweden) and CAF (Solaris Bus & Coach sp. z o.o.) (Spain). These companies adopted new product development and supply contract strategies to gain traction in the terminal tractor market.
Key Player Strategies
* In March 2025, Yutong launched the IC12E intercity e-bus for long-haul operations. The new bus is 12m long, has a seating capacity of 59 passengers, a battery capacity of 466 kWh, and offers a range of more than 600 km.
* In March 2025, Volvo launched the 7800 electric bus for Mexico, enhancing sustainable urban mobility. The 25.6-meter bi-articulated model carries up to 300 passengers, while the articulated version holds 191, with a 250-kWh charging capacity.
* In January 2025, Yutong introduced a double-articulated electric bus in Mexico to meet the demand for high-capacity, energy-efficient transport. The bus aims to enhance passenger experience and drive urban transit modernization in Mexico and Latin America.
Study Coverage
The study segments the electric bus market and forecasts the market size based on propulsion (BEVs, FCEVs), By Range (Up to 200 miles, Above 200 miles), by the length of the bus (less than 9 m, 9-14 m, more than 14m), the consumer (Private, Government), by application (city/transit bus, coaches, midibus, school bus), by battery capacity (up to 400 kWh, Above 400 kWh), by component (motors, batteries, fuel cell stacks, battery management systems, battery cooling systems, DC-DC converters, inverters, AC/DC Chargers, EV Connectors), by the level of autonomy (semi-autonomous, autonomous), By Power Output (up to 250 kW, Above 250 kW), by seating capacity (up to 40 seats, 40-70 seats, above 70 seats), and by region (Asia Pacific, North America, Middle East & Africa [MEA], Europe, and Latin America).
"Brief information on research methodology for the report can be found in the report description provided on the website." https://www.marketsandmarkets.com/Market-Reports/electric-bus-market-38730372.html [https://www.marketsandmarkets.com/Market-Reports/electric-bus-market-38730372.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=electric-bus-market]
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