Electric Mid- And Large (9-14m) Bus Market to Grow at 13.8% CAGR, Reaching $17.03 Billion by 2029

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Electric Mid- And Large (9-14m) Bus Market Outlook: How is the Market Expected to Grow by 2025?
In recent times, the market size for mid- and large-sized (9-14m) electric buses has witnessed substantial growth. The market size, which stands at $8.84 billion in 2024, is projected to swell to $10.15 billion in 2025. This represents a compound annual growth rate (CAGR) of 14.8%. Factors contributing to the growth in the recent history include environmental issues and rules, government policies and incentives, as well as an increase in urbanization and demand for public transport.

Electric Mid- And Large (9-14m) Bus Market Forecast: What Size Will It Reach By 2029?
In the coming years, we can anticipate a swift expansion in the market size of electric medium to large-sized (9-14m) buses. By 2029, it is projected to surge to $17.03 billion, with a compound annual growth rate (CAGR) of 13.8%. The anticipated growth during the forecast period is a result of the efficiency of electric drivetrain, governmental aid and incentives, efforts to curb climate change, public preference for eco-friendly transportation, and breakthroughs in autonomous technology. Significant trends on the horizon include enhancements in battery technology, incorporation of intelligent capabilities, and a comprehensive charging infrastructure network.

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Which Key Market Drivers Will Shape Electric Mid- And Large (9-14m) Bus Industry Trends in 2025-2029?
The swollen demand for public transit is foreseen to fuel the expansion of the electric mid- and big bus (9-14m) market in the future. Public transit, otherwise known as mass transportation, consists of different transportation methods accessible to the public running along permanent routes and times. This escalated demand for public transportation comes as a result of demographic changes, environmental needs, economic elements, technological evolution, and shifts in societal perspectives. Mid- and big-sized buses (9-14 meters) play a crucial role in improving the capacity, productivity, and sustainability of public transit systems. These buses, with their capacity to carry large passenger numbers and the advantages of contemporary electric bus technology, are integral assets in fulfilling the burgeoning demand for public transportation in urban and suburban regions. For example, data from the Metropolitan Transportation Authority, a US-based transit network, shows that annual bus rides in the US saw an uptick from 71.4 million in 2021 to 82.6 million in 2022. Moreover, the total number of subway rides annually in the US surged from 75.9 million in 2021 to 1.01 billion in 2022. Thus, the mounting demand for public transit is steering the growth of the electric mid- and big bus (9-14m) market.

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What Are the High-Growth Segments in the Electric Mid- And Large (9-14m) Bus Market?
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

Which Global Trends Are Driving Electric Mid- And Large (9-14m) Bus Market Expansion?
Key players in the electric mid- and large (9-14m) bus market are concentrating on creating innovative solutions such as hydrogen-powered fuel cell electric vehicles (FCEVs), as a zero-emission alternative to battery-powered buses. Hydrogen-powered FCEVs essentially utilize hydrogen as a fuel source, converting it into electricity through a chemical process in the fuel cell. An example of this is the launch, in October 2023, of the IVECO BUS E-WAY H2, a 12-meter hydrogen-fueled fuel cell low-floor city bus. This launch was spearheaded by Iveco Group N.V., an auto company based in Italy, and Hyundai Motor Company, a vehicle manufacturer in South Korea. The E-WAY H2 is built around a hybrid-mid power concept which maximizes the charging process, enhancing the performance and lifespan of the onboard battery pack and fuel cell system. This 12-meter city bus features a 310-kW electric motor and an advanced fuel cell, four hydrogen tanks that can hold 7.8 kg of hydrogen, and a 69 kWh battery pack supplied by FPT Industrial, the powertrain tech brand of Iveco Group This configuration allows the bus to attain a driving range of 450 km in typical operating conditions.

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Who Are the Fastest-Growing Companies in the Electric Mid- And Large (9-14m) Bus Industry?
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 Is the Regional Outlook for the Electric Mid- And Large (9-14m) Bus Market by 2029?
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.

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