Electric Bus Market Size, Trends and Insights By Battery (Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate), By Vehicle Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Hybrid Electric Vehicle), By End-use (Private, Public), By Application (Intercity, Intracity), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2025-2034 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- AB Volvo,
- Shenzhen Wuzhoulong Motors Co. Ltd,
- Ebusco
- BYD Company Ltd
- Others
Reports Description
The rising demand for energy-efficient vehicles is boosting the market’s growth.
According to Custom Market Insights (CMI), The Global Electric Bus Market Size was valued at USD 29 billion in 2021 and is expected to reach USD 37.66 billion in 2022 and is estimated to reach USD 107 billion by the end of 2030 at a CAGR of approximately 22% during the forecast period 2025-2034.
The report examines the Electric Bus market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Electric Bus market.
Electric Bus Market: Overview
Electric buses, often known as e-buses, are vehicles that run on electricity rather than a conventional internal combustion engine (ICE). The E-bus is propelled instead by an internal electric motor that is powered by one or more internal batteries. Being pollution-free, electric buses are better for the environment. They are also less expensive than standard gasoline/diesel buses.
Electric Bus Market: COVID–19 Impact Analysis
The electric bus market has been significantly impacted by the COVID-19 standard. The market for electric buses has been significantly impacted by both manufacturing and COVID-19. Global manufacture and sales of new electric buses were halted as the entire ecosystem was disrupted. Since they had to wait for the lockdowns to be lifted before starting production, OEMs’ companies suffered.
It is projected that when economies progressively recover from the pandemic, demand for new electric buses would rise. However a current COVID-19 outbreak brought on by fresh strains can hamper recovery in some places. Electric bus manufacturers would therefore need to adjust production levels across nations depending on the COVID-19 scenario.
During the COVID-19 outbreak, component production was also halted due to a lack of funding for small Tier II and Tier III businesses. As a result, during the outbreak, production ceased, which was followed by a fall in demand. This might have a big impact on the manufacturers of electric buses. The second wave in India also had an effect on auto sales, which restrained the growth of the electric bus industry.
Electric Bus Market: Growth Drivers
Rising demand for zero-emission vehicles
The primary industry responsible for greenhouse gas (GHG) emissions into the atmosphere is transportation. According to the United Nations Environment Program, the transportation sector, which significantly contributes to local and urban air pollution, is responsible for around one-fourth of all energy-related greenhouse gas (GHG) emissions (UNEP). According to the US Environmental Protection Agency, buses created 1.1% of total GHG emissions from the transportation sector in 2019. (EPA). Moreover, automobile emissions are alone to blame for 29% of the ozone-depleting chemicals that harm the ecosystem and cause air pollution. As a result, many governments throughout the world have begun putting electric buses into service to increase the sustainability and fuel efficiency of urban public transit.
Government support for converting public transit to electricity
To further the goal of reducing greenhouse gas (GHG) emissions and improving the quality of the air in cities, governments all over the world have provided sizeable financial incentives to encourage shared mobility and environmentally friendly transportation. Governments all over the world have created enticing schemes and programmes to encourage the usage of electric buses. The usage of electric buses in cities has been promoted by governments in industrialised countries through the opening of a bidding process. For instance, as of March 2021, 3,884 hybrid buses, 485 electric buses, and two hydrogen buses were operating out of a total bus fleet of 9,068 in London. There are plans to raise this number to 9,200 electric buses by 2037.
Electric Bus Market: Segmentation Analysis
In the context of our research, the Electric Bus market is divided into battery, vehicle type, application, and end-user categories. In terms of battery type, it is predicted that the lithium iron phosphate battery category would rule the electric bus market in 2021. Compared to lead-acid and other lithium batteries, lithium iron phosphate batteries provide a number of benefits, such as better discharge, charge efficiency, longer life, no maintenance, maximum safety, and lightweight.
Due to their extended lifespan and need for little upkeep, LiFePO4 batteries—despite not being the most inexpensive batteries on the market—are the ideal long-term investment. Depending on the kind of battery, the market is split into nickel manganese cobalt oxide and lithium iron phosphate.
With a market share of more than 60.0% in sales in 2021, the vehicle type segment of the BEV market is in the lead. The bus with batteries is a great alternative to zero- or low-emission automobiles. BEVs are significantly more efficient than conventional buses. The battery-powered bus allows for faster driving than those driven by fuel or gasoline. In comparison to diesel or gasoline-powered buses, BEVs are also easier and less expensive to charge.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 29 Billion |
| Projected Market Size in 2030 | USD 107 Billion |
| Market Size in 2022 | USD 37.66 Billion |
| CAGR Growth Rate | 22% CAGR (2025-2034) |
| Base Year | 2023 |
| Forecast Period | 2025-2034 |
| Prominent Players | AB Volvo, Shenzhen Wuzhoulong Motors Co. Ltd, Ebusco, King Long United Automotive Industry Co. Ltd, BYD Company Ltd, Daimler AG, Proterra Inc, CAF Group (Solaris Bus & Coach), NFI Group, Van Hool NV, and Others |
| Key Segment | By Battery, Vehicle Type, End-use, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Key Insights:
- Our research analyst’s analysis indicates that the market for electric buses would expand annually at a CAGR of about 22% over the forecast period (2025-2034).
- The market for electric buses was estimated to be worth roughly USD 29 billion in 2021, and it is anticipated that it will be worth USD 107 billion by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
- The Electric Bus Market research provides a thorough analysis of the current market along with estimates for the years 2020–2030 to help identify opportunities to capitalise on the current industry.
- The analysis provides information on the key market drivers, obstacles, opportunities, and their results.
- The SWOT analysis and Porter’s Five Forces model are discussed in further detail in the paper.
Recent Development
- March 2021: To increase the number of buses in the city, the Delhi government approved a proposal to buy 300 new low-floor electric (AC) buses. The next buses will be adopted by the Delhi Transport Corporation (DTC). It was intended for the first 118 buses to arrive in October 2021, followed by another 100 buses in November. The last 20 buses were expected to arrive in January 2022, and up to 60 buses were expected to arrive in December.
- March 2021: More than 421,000 electric buses, or approximately 99% of the global fleet, were based in China. Due to China’s great focus on electrifying public transportation and accompanying policies, the country currently holds a large position in the global market for electric buses.
Regional Landscape
The Asia-Pacific region is predicted to have a sizable market share throughout the projected period due to increasing domestic demand supported by national sales targets, favourable laws, helpful subsidies, and local air quality targets. China, one of the market’s leading players, produces 98% of the electric buses used worldwide. Over the predicted period, it is expected that China will continue to hold the top spot.
The global Electric Bus market is segmented as follows:
By Battery
- Lithium Nickel Manganese Cobalt Oxide
- Lithium Iron Phosphate
By Vehicle Type
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Plug-in Hybrid Electric Vehicle
By End-use
- Private
- Public
By Application
- Intercity
- Intracity
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research Methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Electric Bus Market, (2025 – 2034) (USD Billion)
- 2.2 Global Electric Bus Market : snapshot
- Chapter 3. Global Electric Bus Market – Industry Analysis
- 3.1 Electric Bus Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising Demand For Zero-Emission Vehicles
- 3.2.2 Government Backing For Electrification Of Public Transportation
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Battery
- 3.7.2 Market attractiveness analysis By Vehicle Type
- 3.7.3 Market attractiveness analysis By End-use
- 3.7.4 Market attractiveness analysis By Application
- Chapter 4. Global Electric Bus Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Electric Bus Market: company market share, 2025
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Electric Bus Market – Battery Analysis
- 5.1 Global Electric Bus Market overview: By Battery
- 5.1.1 Global Electric Bus Market share, By Battery, 2025 and 2034
- 5.2 Lithium Nickel Manganese Cobalt Oxide
- 5.2.1 Global Electric Bus Market by Lithium Nickel Manganese Cobalt Oxide, 2022 – 2030 (USD Billion)
- 5.3 Lithium Iron Phosphate
- 5.3.1 Global Electric Bus Market by Lithium Iron Phosphate, 2022 – 2030 (USD Billion)
- 5.1 Global Electric Bus Market overview: By Battery
- Chapter 6. Global Electric Bus Market – Vehicle Type Analysis
- 6.1 Global Electric Bus Market overview: By Vehicle Type
- 6.1.1 Global Electric Bus Market share, By Vehicle Type, 2025 and 2034
- 6.2 Battery Electric Vehicle
- 6.2.1 Global Electric Bus Market by Battery Electric Vehicle, 2022 – 2030 (USD Billion)
- 6.3 Fuel Cell Electric Vehicle
- 6.3.1 Global Electric Bus Market by Fuel Cell Electric Vehicle, 2022 – 2030 (USD Billion)
- 6.4 Plug-in Hybrid Electric Vehicle
- 6.4.1 Global Electric Bus Market by Plug-in Hybrid Electric Vehicle, 2022 – 2030 (USD Billion)
- 6.1 Global Electric Bus Market overview: By Vehicle Type
- Chapter 7. Global Electric Bus Market – End-use Analysis
- 7.1 Global Electric Bus Market overview: By End-use
- 7.1.1 Global Electric Bus Market share, By End-use, 2025 and 2034
- 7.2 Private
- 7.2.1 Global Electric Bus Market by Private, 2022 – 2030 (USD Billion)
- 7.3 Public
- 7.3.1 Global Electric Bus Market by Public, 2022 – 2030 (USD Billion)
- 7.1 Global Electric Bus Market overview: By End-use
- Chapter 8. Global Electric Bus Market – Application Analysis
- 8.1 Global Electric Bus Market overview: By Application
- 8.1.1 Global Electric Bus Market share, By Application, 2025 and 2034
- 8.2 Intercity
- 8.2.1 Global Electric Bus Market by Intercity, 2022 – 2030 (USD Billion)
- 8.3 Intracity
- 8.3.1 Global Electric Bus Market by Intracity, 2022 – 2030 (USD Billion)
- 8.1 Global Electric Bus Market overview: By Application
- Chapter 9. Electric Bus Industry – Regional Analysis
- 9.1 Global Electric Bus Industry Regional Overview
- 9.2 Global Electric Bus Industry Share, by Region, 2025 & 2030 (USD Billion)
- 9.3. North America
- 9.3.1 North America Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.3.1.1 North America Electric Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.3.1 North America Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.4 North America Electric Bus Industry, by Battery, 2022 – 2030
- 9.4.1 North America Electric Bus Industry, by Battery, 2022 – 2030 (USD Billion)
- 9.5 North America Electric Bus Industry, by Vehicle Type, 2022 – 2030
- 9.5.1 North America Electric Bus Industry, by Vehicle Type, 2022 – 2030 (USD Billion)
- 9.6 North America Electric Bus Industry, by End-use, 2022 – 2030
- 9.6.1 North America Electric Bus Industry, by End-use, 2022 – 2030 (USD Billion)
- 9.7 North America Electric Bus Industry, by Application, 2022 – 2030
- 9.7.1 North America Electric Bus Industry, by Application, 2022 – 2030 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.8.1.1 Europe Electric Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.8.1 Europe Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.9 Europe Electric Bus Industry, by Battery, 2022 – 2030
- 9.9.1 Europe Electric Bus Industry, by Battery, 2022 – 2030 (USD Billion)
- 9.10 Europe Electric Bus Industry, by Vehicle Type, 2022 – 2030
- 9.10.1 Europe Electric Bus Industry, by Vehicle Type, 2022 – 2030 (USD Billion)
- 9.11 Europe Electric Bus Industry, by End-use, 2022 – 2030
- 9.11.1 Europe Electric Bus Industry, by End-use, 2022 – 2030 (USD Billion)
- 9.12 Europe Electric Bus Industry, by Application, 2022 – 2030
- 9.12.1 Europe Electric Bus Industry, by Application, 2022 – 2030 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.13.1.1 Asia Pacific Electric Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.13.1 Asia Pacific Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.14 Asia Pacific Electric Bus Industry, by Battery, 2022 – 2030
- 9.14.1 Asia Pacific Electric Bus Industry, by Battery, 2022 – 2030 (USD Billion)
- 9.15 Asia Pacific Electric Bus Industry, by Vehicle Type, 2022 – 2030
- 9.15.1 Asia Pacific Electric Bus Industry, by Vehicle Type, 2022 – 2030 (USD Billion)
- 9.16 Asia Pacific Electric Bus Industry, by End-use, 2022 – 2030
- 9.16.1 Asia Pacific Electric Bus Industry, by End-use, 2022 – 2030 (USD Billion)
- 9.17 Asia Pacific Electric Bus Industry, by Application, 2022 – 2030
- 9.17.1 Asia Pacific Electric Bus Industry, by Application, 2022 – 2030 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.18.1.1 Latin America Electric Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.18.1 Latin America Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.19 Latin America Electric Bus Industry, by Battery, 2022 – 2030
- 9.19.1 Latin America Electric Bus Industry, by Battery, 2022 – 2030 (USD Billion)
- 9.20 Latin America Electric Bus Industry, by Vehicle Type, 2022 – 2030
- 9.20.1 Latin America Electric Bus Industry, by Vehicle Type, 2022 – 2030 (USD Billion)
- 9.21 Latin America Electric Bus Industry, by End-use, 2022 – 2030
- 9.21.1 Latin America Electric Bus Industry, by End-use, 2022 – 2030 (USD Billion)
- 9.22 Latin America Electric Bus Industry, by Application, 2022 – 2030
- 9.22.1 Latin America Electric Bus Industry, by Application, 2022 – 2030 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Electric Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.23.1 The Middle-East and Africa Electric Bus Industry, 2022 – 2030 (USD Billion)
- 9.24 The Middle-East and Africa Electric Bus Industry, by Battery, 2022 – 2030
- 9.24.1 The Middle-East and Africa Electric Bus Industry, by Battery, 2022 – 2030 (USD Billion)
- 9.25 The Middle-East and Africa Electric Bus Industry, by Vehicle Type, 2022 – 2030
- 9.25.1 The Middle-East and Africa Electric Bus Industry, by Vehicle Type, 2022 – 2030 (USD Billion)
- 9.26 The Middle-East and Africa Electric Bus Industry, by End-use, 2022 – 2030
- 9.26.1 The Middle-East and Africa Electric Bus Industry, by End-use, 2022 – 2030 (USD Billion)
- 9.27 The Middle-East and Africa Electric Bus Industry, by Application, 2022 – 2030
- 9.27.1 The Middle-East and Africa Electric Bus Industry, by Application, 2022 – 2030 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 AB Volvo
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Shenzhen Wuzhoulong Motors Co. Ltd
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Ebusco
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 King Long United Automotive Industry Co. Ltd
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 BYD Company Ltd
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Daimler AG
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 Proterra Inc
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 CAF Group (Solaris Bus & Coach)
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 NFI Group
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Van Hool NV
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.1 AB Volvo
List Of Figures
Figures No 1 to 27
List Of Tables
Tables No 1 to 102
Competitive Landscape
The market for electric buses has a moderate consolidation level thanks to significant Chinese firms that meet international demand. Yutong Bus Co. Ltd, CRRC Electric, BYD Auto Co. Ltd, King Long United Automotive, and Zhongtong Bus Holding Co. Ltd are a few well-known market participants. To retain their market position, these businesses employ strategies such as new product developments, partnerships, contracts, and agreements.
List of the prominent players in the global Electric Bus market:
- AB Volvo
- Shenzhen Wuzhoulong Motors Co. Ltd
- Ebusco
- King Long United Automotive Industry Co. Ltd
- BYD Company Ltd
- Daimler AG
- Proterra Inc
- CAF Group (Solaris Bus & Coach)
- NFI Group
- Van Hool NV
- Others
FAQs
“Asia-Pacific” region will lead the global Electric Bus market during the forecast period 2022 to 2030.
The key factors driving the market
Rising Demand For Zero-Emission Vehicles, Government Backing For Electrification Of Public Transportation
The key players operating in the Electric Bus market are AB Volvo, Shenzhen Wuzhoulong Motors Co. Ltd, Ebusco, King Long United Automotive Industry Co. Ltd, BYD Company Ltd, Daimler AG, Proterra Inc, CAF Group (Solaris Bus & Coach), NFI Group, Van Hool NV.
The global Electric Bus market is expanding growth with a CAGR of approximately 22% during the forecast period (2022 to 2030).
The global Electric Bus market size was valued at USD 29 billion in 2021 and it is projected to reach around USD 107 billion by 2030.