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Electric Mid- And Large (9-14m) Bus Market Anticipated To Witness Robust Growth, Surpassing $18.28 Billion By 2029
Electric Mid- And Large (9-14m) Bus Market
What Is the Current Electric Mid- And Large (9-14m) Bus Market Size and Its Estimated Growth Rate?
The electric mid- and large (9-14m) bus market has expanded quickly. It will increase from $8.84 billion in 2024 to $10.25 billion in 2025, showing a CAGR of 16.0%. Historical drivers include environmental policy, government backing, and rising demand for urban transit.
The electric mid- and large (9-14m) bus market size is forecasted to grow significantly over the coming years. It is expected to reach $18.28 billion by 2029 at a compound annual growth rate (CAGR) of 15.6%. The market expansion will be supported by efficient electric drivetrains, supportive government policies, climate-related mandates, and rising public interest in green transport. Key trends will include battery innovations, digital features in buses, and expansion of EV charging infrastructure.
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How Are Emerging Segments Shaping the Electric Mid- And Large (9-14m) Bus Market Landscape?
The electric mid- and large (9-14m) bus market covered in this report is segmented -
1) By Propulsion: Fuel Cell Electric Vehicle (FCEV), Diesel, Gasoline, Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), Hybrid Electric Vehicle (HEV) And Plug-In Electric Vehicle (PEV), Battery Electric Vehicle (BEV), Lithium Iron Phosphate (LFP)
2) By Seating Capacity: 70 Seats And Above, Below 70 Seats
3) By Level Of Autonomy: Autonomous, Manual, Semi-Autonomous
4) By Application: Coaches, City Or Transit Bus, School Bus, Midi Bus
5) By End-Use: Private, Public
Subsegments:
1) By Fuel Cell Electric Vehicle (Fcev): Proton Exchange Membrane Fuel Cells (Pemfc), Solid Oxide Fuel Cells (Sofc)
2) By Diesel: Standard Diesel Buses, Low Emission Diesel Buses
3) By Gasoline: Standard Gasoline Buses, Low Emission Gasoline Buses
4) By Compressed Natural Gas (Cng): Cng Buses For Urban Transport, Cng Buses For Intercity Routes
5) By Liquefied Natural Gas (Lng): Lng Buses For Long-Distance Routes, Lng Buses For High Capacity Urban Routes
6) By Hybrid Electric Vehicle (Hev) And Plug-In Electric Vehicle (Pev): Hev (Hybrid), Pev (Plug-In Hybrid)
7) By Battery Electric Vehicle (Bev): Standard Battery Electric Buses, Fast Charging Battery Electric Buses, Overnight Charging Battery Electric Buses
8) By Lithium Iron Phosphate (Lfp): Lfp Battery-Powered Buses For Urban Transport, Lfp Battery-Powered Buses For Long-Distance Routes
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Which Growth Factors Are Influencing Electric Mid- And Large (9-14m) Bus Market Expansion?
The increasing demand for public transportation is expected to accelerate the growth of the electric mid- and large (9-14m) bus market. Public transportation refers to the various modes of transportation available to the public on set routes and schedules. The demand for public transit is driven by demographic trends, environmental concerns, economic considerations, technological advancements, and shifts in societal attitudes. Mid- and large-sized buses are crucial in improving the capacity, efficiency, and sustainability of public transportation systems. Their ability to carry large numbers of passengers combined with modern electric bus technology makes them essential in meeting the growing demand for public transport in urban and suburban areas. For instance, in 2022, U.S. bus ridership increased from 71.4 million rides in 2021 to 82.6 million, while subway ridership grew from 75.9 million in 2021 to 1.01 billion. As a result, the demand for public transportation is fueling the growth of the electric mid- and large bus market.
Who Are the Dominant Players Across Different Electric Mid- And Large (9-14m) Bus Market Segments?
Major companies operating in the electric mid- and large (9-14M) bus market are BYD Company Ltd., Daimler Truck AG, Tata Motors, AB Volvo, CRRC Zhuzhou Locomotive Co. Ltd., Cummins Inc., Transdev, Yutong Bus Co. Ltd., NFI Group, Blue Bird Corporation, Solaris Bus & Coach sp. z o.o., Nova Bus, VDL Bus & Coach, Proterra Inc., Anhui Ankai Automobile Co. Ltd., Lion Electric Co., Pelican Engineering Group, GreenPower Motor Company, Jefferson Transit Authority, Eicher Motors Limited
What Trends Are Expected to Dominate the Electric Mid- And Large (9-14m) Bus Market in the Next 5 Years?
Leading companies in the mid- and large (9-14m) electric bus market are strategically focusing on the creation of innovative products such as hydrogen fuel-cell electric vehicles (FCEVs) as a green alternative to traditional battery-powered buses. These hydrogen fuel-cell electric vehicles (FCEVs) are propelled by electricity generated from hydrogen through a chemical reaction in the fuel cell. For instance, in October 2023, Italy's Iveco Group N.V automotive company and South Korea's Hyundai Motor Company jointly introduced the IVECO BUS E-WAY H2, a 12-meter hydrogen-fueled fuel cell city bus with a low floor. This bus is engineered with a hybrid-mid power concept, enhancing the charging process and assisting the onboard battery pack and fuel cell system to achieve maximum efficiency and lifespan. The E-WAY H2 is a 12-meter low-floor urban bus, equipped with a 310-kW electric motor and an advanced fuel cell. It houses four hydrogen tanks with a capacity of 7.8 kg of hydrogen and a 69 kWh battery pack sourced from FPT Industrial, the powertrain technology brand of the Iveco Group. This combination provides the bus with a typical operational driving range of 450 km.
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Which Geographic Regions Are Expected to Dominate the Electric Mid- And Large (9-14m) Bus Market in the Coming Years?
North America was the largest region in the electric mid- and large (9-14M) bus market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric mid- and large (9-14m) bus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Mid- And Large (9-14m) Bus Market?
2. What is the CAGR expected in the Electric Mid- And Large (9-14m) Bus Market?
3. What Are the Key Innovations Transforming the Electric Mid- And Large (9-14m) Bus Industry?
4. Which Region Is Leading the Electric Mid- And Large (9-14m) Bus Market?
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