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Electric bus market: Historic industry size and analysis of 15 vendors and 7 countries - Technavio

NEW YORK, Dec. 1, 2022 /PRNewswire/ -- The electric bus market size is forecasted to increase by 61.03 thousand units from 2022 to 2027, at a CAGR of 9.23%, according to the recent market study by Technavio. The growth of the market will be driven by the reduction in battery prices, technological improvements to reduce downtime, and government initiatives promoting electric buses.

Technavio has announced its latest market research report titled Global Electric Bus Market 2023-2027

Technavio categorizes the global electric bus market as a part of the automotive market, which covers companies engaged in the production of vehicles such as passenger cars, commercial vehicles, and all-terrain vehicles.

Charts and data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download the Sample Report

Technavio has extensively analyzed 15 major vendors, including AB Volvo, BKM.BY, Bollore SE, BYD Co. Ltd., CNH Industrial NV, Complete Coach Works, Eletra, GreenPower Motor Co. Inc., Jiangsu Alfa Bus Co. Ltd., Linkker Oy, Mercedes Benz Group AG, NFI Group Inc., POL-MOT Holding SA, Proterra Inc., Tata Sons Pvt. Ltd., TECNOBUS Spa, VDL Bus & Coach BV, Xiamen King Long United Automotive Industry Co. Ltd., Yinlong Energy China Ltd., and Zhongtong Bus Holding Co. Ltd.

Key benefits for industry players and stakeholders –
  • The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
  • It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
  • The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category focused, industry focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Expand operations in future - To get requisite details, ask for a custom report.

Customer landscape - Analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria by Technavio

  • One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
  • Another key aspect is price sensitivity drivers (purchases are undifferentiated, purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
  • Furthermore, market adoption rates for all regions have been covered.

Download the sample to get a holistic overview of the electric bus market by industry experts to evaluate and develop growth strategies.

The market is segmented by application (intercity and intra city) and type (pure electric bus and plug-in hybrid bus).

Segmentation by application (inclusion/exclusion)

  • Inclusion: 
    • Intercity:

The intercity segment grew gradually by 33.25 thousand units between 2017 and 2021. Governments of various countries are encouraging the adoption of electric vehicles. For instance, the Government of India is promoting the use of electric vehicles with the objective of replacing internal combustion engine (ICE) vehicles by 2030. Various manufacturers are planning to start business operations within India due to the growth opportunities presented by the market in the country.

To get detailed insights about inclusions and exclusions, buy report.

Related Reports -

Hybrid electric vehicle market by propulsion, vehicle type, and geography - Forecast and analysis 2023-2027 – size is estimated to increase by 17,098.51 thousand units from 2022 to 2027, with an accelerated CAGR of 30.88%, according to the recent market study by Technavio. Furthermore, this report extensively covers market segmentation by propulsion (full HEVs, mild HEVs, and PHEVs), vehicle type (passenger cars and commercial vehicles), and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

Electric trucks market by propulsion, vehicle type, and geography - Forecast and analysis 2023-2027 – size is estimated to increase by 562.44 thousand units from 2022 to 2027, with an accelerated CAGR of 28.82%, according to the recent market study by Technavio. The reduction in battery prices is one of the key factors driving the market growth.

What are the key data covered in the electric bus market?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the electric bus market between 2023 and 2027
  • Precise estimation of the size of the electric bus market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the electric bus market across APAC, Europe, North America, and Rest of World (ROW)
  • Thorough analysis of the market's competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of electric bus market vendors

Electric Bus Market Scope

Report Coverage

Details

Page number

161

Base year

2022

Historic Period

2017 -2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.23%

Market growth 2023-2027

61.03 thousand units

Market structure

Fragmented

YoY growth (%)

8.87

Regional analysis

Asia, Europe, North America, and the Rest of the World (ROW)

Performing contribution

Asia at 92%

Key countries

US, Canada, China, India, Germany, and UK

Competitive landscape

Leading companies, Market Positioning of Vendors, Competitive Strategies and Industry Risks

Companies profiled

AB Volvo, BKM.BY, Bollore SE, BYD Co. Ltd., CNH Industrial NV, Complete Coach Works, Eletra, GreenPower Motor Co. Inc., Jiangsu Alfa Bus Co. Ltd., Linkker Oy, Mercedes Benz Group AG, NFI Group Inc., POL-MOT Holding SA, Proterra Inc., Tata Sons Pvt. Ltd., TECNOBUS Spa, VDL Bus & Coach BV, Xiamen King Long United Automotive Industry Co. Ltd., Yinlong Energy China Ltd., and Zhongtong Bus Holding Co. Ltd.

Market Dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio's Consumer Discretionary Market Reports

Table of Contents

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global electric bus market 2017 - 2021 
    • Exhibit 18: Historic Market Size – Data Table on Global electric bus market 2017 - 2021 (thousand units)
  • 4.2 Application Segment Analysis 2017 - 2021
    • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 (thousand units)
  • 4.3 Type Segment Analysis 2017 - 2021 
    • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 (thousand units)
  • 4.4 Geography Segment Analysis 2017 - 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (thousand units)
  • 4.5 Country Segment Analysis 2017 - 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand units)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

  • 6.1 Market segments 
    • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
  • 6.2 Comparison by Application 
    • Exhibit 32: Chart on Comparison by Application
    • Exhibit 33: Data Table on Comparison by Application
  • 6.3 Intercity - Market size and forecast 2022-2027
    • Exhibit 34: Chart on Intercity - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 35: Data Table on Intercity - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 36: Chart on Intercity - Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Intercity - Year-over-year growth 2022-2027 (%)
  • 6.4 Intra city - Market size and forecast 2022-2027
    • Exhibit 38: Chart on Intra city - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 39: Data Table on Intra city - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 40: Chart on Intra city - Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Intra city - Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Application 
    • Exhibit 42: Market opportunity by Application (thousand units)

7 Market Segmentation by Type

  • 7.1 Market segments 
    • Exhibit 43: Chart on Type - Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
  • 7.2 Comparison by Type 
    • Exhibit 45: Chart on Comparison by Type
    • Exhibit 46: Data Table on Comparison by Type
  • 7.3 Pure electric bus - Market size and forecast 2022-2027
    • Exhibit 47: Chart on Pure electric bus - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 48: Data Table on Pure electric bus - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 49: Chart on Pure electric bus - Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on Pure electric bus - Year-over-year growth 2022-2027 (%)
  • 7.4 Plug-in hybrid bus - Market size and forecast 2022-2027
    • Exhibit 51: Chart on Plug-in hybrid bus - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 52: Data Table on Plug-in hybrid bus - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 53: Chart on Plug-in hybrid bus - Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Plug-in hybrid bus - Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Type 
    • Exhibit 55: Market opportunity by Type (thousand units)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 59: Chart on Geographic comparison
    • Exhibit 60: Data Table on Geographic comparison
  • 9.3 APAC - Market size and forecast 2022-2027
    • Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
    • Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
  • 9.4 Europe - Market size and forecast 2022-2027
    • Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
    • Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)
  • 9.5 North America - Market size and forecast 2022-2027
    • Exhibit 69: Chart on North America - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
    • Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
  • 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
    • Exhibit 73: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 74: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 75: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
  • 9.7 China - Market size and forecast 2022-2027
    • Exhibit 77: Chart on China - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 78: Data Table on China - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 79: Chart on China - Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on China - Year-over-year growth 2022-2027 (%)
  • 9.8 India - Market size and forecast 2022-2027
    • Exhibit 81: Chart on India - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 82: Data Table on India - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 83: Chart on India - Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on India - Year-over-year growth 2022-2027 (%)
  • 9.9 US - Market size and forecast 2022-2027
    • Exhibit 85: Chart on US - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
  • 9.10 Germany - Market size and forecast 2022-2027
    • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
  • 9.11 UK - Market size and forecast 2022-2027 
    • Exhibit 93: Chart on UK - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)
  • 9.12 Canada - Market size and forecast 2022-2027
    • Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 (thousand units)
    • Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 101: Market opportunity by geography (thousand units)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape 
    • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption 
    • Exhibit 104: Overview on factors of disruption
  • 11.4 Industry risks 
    • Exhibit 105: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 106: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 107: Matrix on vendor position and classification
  • 12.3 AB Volvo 
    • Exhibit 108: AB Volvo - Overview
    • Exhibit 109: AB Volvo - Business segments
    • Exhibit 110: AB Volvo - Key offerings
    • Exhibit 111: AB Volvo - Segment focus
  • 12.4 BKM.BY 
    • Exhibit 112: BKM.BY - Overview
    • Exhibit 113: BKM.BY - Product / Service
    • Exhibit 114: BKM.BY - Key offerings
  • 12.5 Bollore SE 
    • Exhibit 115: Bollore SE - Overview
    • Exhibit 116: Bollore SE - Business segments
    • Exhibit 117: Bollore SE - Key offerings
    • Exhibit 118: Bollore SE - Segment focus
  • 12.6 BYD Co. Ltd. 
    • Exhibit 119: BYD Co. Ltd. - Overview
    • Exhibit 120: BYD Co. Ltd. - Business segments
    • Exhibit 121: BYD Co. Ltd. - Key news
    • Exhibit 122: BYD Co. Ltd. - Key offerings
    • Exhibit 123: BYD Co. Ltd. - Segment focus
  • 12.7 CNH Industrial NV 
    • Exhibit 124: CNH Industrial NV - Overview
    • Exhibit 125: CNH Industrial NV - Business segments
    • Exhibit 126: CNH Industrial NV - Key news
    • Exhibit 127: CNH Industrial NV - Key offerings
    • Exhibit 128: CNH Industrial NV - Segment focus
  • 12.8 Complete Coach Works 
    • Exhibit 129: Complete Coach Works - Overview
    • Exhibit 130: Complete Coach Works - Product / Service
    • Exhibit 131: Complete Coach Works - Key offerings
  • 12.9 Eletra 
    • Exhibit 132: Eletra - Overview
    • Exhibit 133: Eletra - Product / Service
    • Exhibit 134: Eletra - Key offerings
  • 12.10 GreenPower Motor Co. Inc. 
    • Exhibit 135: GreenPower Motor Co. Inc. - Overview
    • Exhibit 136: GreenPower Motor Co. Inc. - Product / Service
    • Exhibit 137: GreenPower Motor Co. Inc. - Key news
    • Exhibit 138: GreenPower Motor Co. Inc. - Key offerings
  • 12.11 Jiangsu Alfa Bus Co. Ltd. 
    • Exhibit 139: Jiangsu Alfa Bus Co. Ltd. - Overview
    • Exhibit 140: Jiangsu Alfa Bus Co. Ltd. - Product / Service
    • Exhibit 141: Jiangsu Alfa Bus Co. Ltd. - Key offerings
  • 12.12 Linkker Oy 
    • Exhibit 142: Linkker Oy - Overview
    • Exhibit 143: Linkker Oy - Product / Service
    • Exhibit 144: Linkker Oy - Key offerings
  • 12.13 Mercedes Benz Group AG 
    • Exhibit 145: Mercedes Benz Group AG - Overview
    • Exhibit 146: Mercedes Benz Group AG - Business segments
    • Exhibit 147: Mercedes Benz Group AG - Key offerings
    • Exhibit 148: Mercedes Benz Group AG - Segment focus
  • 12.14 Proterra Inc. 
    • Exhibit 149: Proterra Inc. - Overview
    • Exhibit 150: Proterra Inc. - Product / Service
    • Exhibit 151: Proterra Inc. - Key news
    • Exhibit 152: Proterra Inc. - Key offerings
  • 12.15 TECNOBUS Spa 
    • Exhibit 153: TECNOBUS Spa - Overview
    • Exhibit 154: TECNOBUS Spa - Product / Service
    • Exhibit 155: TECNOBUS Spa - Key offerings
  • 12.16 Xiamen King Long United Automotive Industry Co. Ltd.
    • Exhibit 156: Xiamen King Long United Automotive Industry Co. Ltd. - Overview
    • Exhibit 157: Xiamen King Long United Automotive Industry Co. Ltd. - Product / Service
    • Exhibit 158: Xiamen King Long United Automotive Industry Co. Ltd. - Key offerings
  • 12.17 Yinlong Energy China Ltd. 
    • Exhibit 159: Yinlong Energy China Ltd. - Overview
    • Exhibit 160: Yinlong Energy China Ltd. - Product / Service
    • Exhibit 161: Yinlong Energy China Ltd. - Key offerings

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 162: Inclusions checklist
    • Exhibit 163: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 164: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 165: Research methodology
    • Exhibit 166: Validation techniques employed for market sizing
    • Exhibit 167: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 168: List of abbreviations
About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Email: media@technavio.com
Website: www.technavio.com/

Global Electric Bus Market 2023-2027

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