Electric School Bus Market Size, Trends and Insights By Battery Type (Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate), By Propulsion Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Hybrid Electric Vehicle), By Battery Capacity (Below 100 kWh, 100-300 kWh, Above 300 kWh), By Seating Capacity (Below 40 seats, 40-70 Seats, Above 700 Seats), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- BYD
- Yutong
- CAF
- VDL Groep
- 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 School Bus Market Size was valued at USD 18 billion in 2021 and is estimated to reach USD 40 billion by the end of 2030 at a CAGR of approximately 14% during the forecast period 2022-2030.
The report examines the Electric School Bus market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Electric School Bus market.
Electric School Bus Market: Overview
A form of electric vehicle (EV) with silent operations that improves the driver’s ability to concentrate on the road is an electric school bus. Compared to typical school buses that run on diesel, propane, gasoline, or compressed natural gas, it boasts lower maintenance expenses (CNG). The use of vehicle-to-grid (V2G) technology, it contributes to operating cost reduction, the creation of new jobs in green manufacturing, and the provision of useful renewable energy storage. Currently, it is frequently used by schools to make extra money by selling extra electricity to utility companies.
Electric School Bus Market: COVID–19 Impact Analysis
The global bus industry has only experienced extremely small growth as a result of the broad lockdowns and travel restrictions that occurred during the COVID-19 outbreak. Numerous schools were closed across the region due to the significant danger that children could contract the illness. However, due to the availability of COVID-19 immunization and the claim made by academic experts that students needed practical knowledge, schools were permitted to reopen with social distance norms and guidelines.
Electric School Bus Market: Growth Drivers
Rising demand for zero-emission vehicles
In schools all across the world, there is now an increase in demand for high-performance, fuel-efficient buses. This is one of the main reasons propelling the market, coupled with a number of benefits provided by electric school buses, such as high voltage and functional safety, cold-weather performance, dependability, and longevity. Due to the widespread usage of diesel school buses, there are also more problems with student’s physical health and cognitive development. This is accelerating the market’s expansion along with technological developments in the automobile sector. In addition, the transportation industry is significantly responsible for greenhouse gas (GHG) emissions into the atmosphere. 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 United States Environmental Protection Agency, buses created 1.1% of total GHG emissions from the transportation sector in 2019. (EPA). Vehicle emissions are responsible for 18% of the ozone-depleting compounds that harm the environment and cause air pollution.
Government backing for electrification of public transportation
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 as well as environmentally friendly transportation. Governments all across the world have created enticing projects and programs to encourage the adoption of electric school buses.
Electric School Bus Market: Segmentation Analysis
In our research scope, the Electric School Bus market is segmented into propulsion type, battery type, battery capacity, and seating capacity. Based on battery, the lithium iron phosphate battery segment is estimated to dominate the Electric School 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, durability, as well as 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.
The BEV sector is led by vehicle type, with a market share of more than 60.0% in sales in 2021. The battery-powered bus is a fantastic substitute for zero- or low-emission vehicles. When compared to regular buses, BEVs are highly efficient. Compared to buses fueled by fuel or gasoline, the battery-powered bus enables speedier driving. BEVs are simpler and less expensive to charge than buses fueled by diesel or gasoline.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 18 Billion |
| Projected Market Size in 2030 | USD 40 Billion |
| CAGR Growth Rate | 14% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | BYD, Yutong, CAF, VDL Groep, AB Volvo, Dailmer AG, NFI Group, Ankai, King Long, Nissan Motor Corporation, Toyota Motor Corporation, SCANIA AB, General Motors, and Others |
| Key Segment | By Battery Type, Propulsion Type, Battery Capacity, Seating Capacity, 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 fulfil your requirements for research. |
Key Insights:
- As per the analysis shared by our research analyst, the Electric School Bus market is estimated to grow annually at a CAGR of around 14% over the forecast period (2022-2030).
- In terms of revenue, the Electric School Bus market was valued at around USD 18 billion in 2021 and is projected to reach USD 40 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The Electric School Bus market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
- The study includes data on the major market drivers, challenges, opportunities, and their effects.
- The study elaborates on the SWOT analysis and Porter’s Five Forces model.
- The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.
Recent Development
- February 2021: The Chicago Transit Authority has placed a supply order with Nova Bus, a Volvo Buses affiliate. Six hundred brand-new 40-foot electric buses from Nova Bus are being ordered.
- April 2021: 32 electric buses will be supplied by VDL to Hermes, an Eindhoven-based public transportation provider. Beginning in January 2022, these buses will be part of the cityscape of Eindhoven.
- January 2021: The planning for the electrification of two lines in Switzerland was approved. The country’s market for electric buses is anticipated to grow due to this ongoing emphasis on fleet electrification.
Regional Landscape
In 2021, Asia Pacific accounted for more than 80% of total sales. The development can be ascribed to the presence of nations like China, India, and Japan as well as the rising desire for environmentally friendly transportation. Leading manufacturing businesses are headquartered in China, a significant player in the market. For instance, more than 451,000 e-buses, or roughly 98% of the global fleet, were in use in China in March 2021. Moreover, the expansion of the charging infrastructure, environmental problems, and tight government regulations are driving the overall business growth in this area.
25 of BYD’s newest 40-foot electric buses were ordered by TMB (Transportes Metropolitanos de Barcelona) in November 2021; delivery is scheduled for between 2022 and 2024. The goal of this ordinance is to get rid of Barcelona’s polluting diesel buses by 2025. The Chinese government has invested heavily to replace the fleet of conventional public transportation with electric vehicles. The country is now outperforming American and European countries in the market. The Asia Pacific area now rules the market as a result of China’s quick adoption of electric buses. Other Asian countries are starting to add electric buses to their fleets of public transportation vehicles.
Competitive Landscape
Major companies, including BYD, Yutong, CAF, VDL Groep, and AB Volvo, lead the global electric bus market. These businesses have robust global distribution networks. Additionally, these businesses provide a wide variety of products in this sector. To maintain their market position, these businesses have implemented techniques like new product developments, partnerships, and contracts & agreements.
Key Players:
- BYD
- Yutong
- CAF
- VDL Groep
- AB Volvo
- Dailmer AG
- NFI Group
- Ankai
- King Long
- Nissan Motor Corporation
- Toyota Motor Corporation
- SCANIA AB
- General Motors
The global Electric School Bus market is segmented as follows:
By Battery Type
- Lithium Nickel Manganese Cobalt Oxide
- Lithium Iron Phosphate
By Propulsion Type
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Plug-in Hybrid Electric Vehicle
By Battery Capacity
- Below 100 kWh
- 100-300 kWh
- Above 300 kWh
By Seating Capacity
- Below 40 seats
- 40-70 Seats
- Above 700 Seats
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 School Bus Market, (2022 – 2030) (USD Billion)
- 2.2 Global Electric School Bus Market : snapshot
- Chapter 3. Global Electric School Bus Market – Industry Analysis
- 3.1 Electric School 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 Type
- 3.7.2 Market attractiveness analysis By Propulsion Type
- 3.7.3 Market attractiveness analysis By Battery Capacity
- 3.7.4 Market attractiveness analysis By Seating Capacity
- Chapter 4. Global Electric School Bus Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Electric School Bus Market: company market share, 2021
- 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 School Bus Market – Battery Type Analysis
- 5.1 Global Electric School Bus Market overview: By Battery Type
- 5.1.1 Global Electric School Bus Market share, By Battery Type, 2021 and 2030
- 5.2 Lithium Nickel Manganese Cobalt Oxide
- 5.2.1 Global Electric School Bus Market by Lithium Nickel Manganese Cobalt Oxide, 2022 – 2030 (USD Billion)
- 5.3 Lithium Iron Phosphate
- 5.3.1 Global Electric School Bus Market by Lithium Iron Phosphate, 2022 – 2030 (USD Billion)
- 5.1 Global Electric School Bus Market overview: By Battery Type
- Chapter 6. Global Electric School Bus Market – Propulsion Type Analysis
- 6.1 Global Electric School Bus Market overview: By Propulsion Type
- 6.1.1 Global Electric School Bus Market share, By Propulsion Type, 2021 and 2030
- 6.2 Battery Electric Vehicle
- 6.2.1 Global Electric School Bus Market by Battery Electric Vehicle, 2022 – 2030 (USD Billion)
- 6.3 Fuel Cell Electric Vehicle
- 6.3.1 Global Electric School Bus Market by Fuel Cell Electric Vehicle, 2022 – 2030 (USD Billion)
- 6.4 Plug-in Hybrid Electric Vehicle
- 6.4.1 Global Electric School Bus Market by Plug-in Hybrid Electric Vehicle, 2022 – 2030 (USD Billion)
- 6.1 Global Electric School Bus Market overview: By Propulsion Type
- Chapter 7. Global Electric School Bus Market – Battery Capacity Analysis
- 7.1 Global Electric School Bus Market overview: By Battery Capacity
- 7.1.1 Global Electric School Bus Market share, By Battery Capacity, 2021 and 2030
- 7.2 Below 100 kWh
- 7.2.1 Global Electric School Bus Market by Below 100 kWh, 2022 – 2030 (USD Billion)
- 7.3 100-300 kWh
- 7.3.1 Global Electric School Bus Market by 100-300 kWh, 2022 – 2030 (USD Billion)
- 7.4 Above 300 kWh
- 7.4.1 Global Electric School Bus Market by Above 300 kWh, 2022 – 2030 (USD Billion)
- 7.1 Global Electric School Bus Market overview: By Battery Capacity
- Chapter 8. Global Electric School Bus Market – Seating Capacity Analysis
- 8.1 Global Electric School Bus Market overview: By Seating Capacity
- 8.1.1 Global Electric School Bus Market share, By Seating Capacity, 2021 and 2030
- 8.2 Below 40 seats
- 8.2.1 Global Electric School Bus Market by Below 40 seats, 2022 – 2030 (USD Billion)
- 8.3 40-70 Seats
- 8.3.1 Global Electric School Bus Market by 40-70 Seats, 2022 – 2030 (USD Billion)
- 8.4 Above 700 Seats
- 8.4.1 Global Electric School Bus Market by Above 700 Seats, 2022 – 2030 (USD Billion)
- 8.1 Global Electric School Bus Market overview: By Seating Capacity
- Chapter 9. Electric School Bus Industry – Regional Analysis
- 9.1 Global Electric School Bus Industry Regional Overview
- 9.2 Global Electric School Bus Industry Share, by Region, 2021 & 2030 (USD Billion)
- 9.3. North America
- 9.3.1 North America Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.3.1.1 North America Electric School Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.3.1 North America Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.4 North America Electric School Bus Industry, by Battery Type, 2022 – 2030
- 9.4.1 North America Electric School Bus Industry, by Battery Type, 2022 – 2030 (USD Billion)
- 9.5 North America Electric School Bus Industry, by Propulsion Type, 2022 – 2030
- 9.5.1 North America Electric School Bus Industry, by Propulsion Type, 2022 – 2030 (USD Billion)
- 9.6 North America Electric School Bus Industry, by Battery Capacity, 2022 – 2030
- 9.6.1 North America Electric School Bus Industry, by Battery Capacity, 2022 – 2030 (USD Billion)
- 9.7 North America Electric School Bus Industry, by Seating Capacity, 2022 – 2030
- 9.7.1 North America Electric School Bus Industry, by Seating Capacity, 2022 – 2030 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.8.1.1 Europe Electric School Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.8.1 Europe Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.9 Europe Electric School Bus Industry, by Battery Type, 2022 – 2030
- 9.9.1 Europe Electric School Bus Industry, by Battery Type, 2022 – 2030 (USD Billion)
- 9.10 Europe Electric School Bus Industry, by Propulsion Type, 2022 – 2030
- 9.10.1 Europe Electric School Bus Industry, by Propulsion Type, 2022 – 2030 (USD Billion)
- 9.11 Europe Electric School Bus Industry, by Battery Capacity, 2022 – 2030
- 9.11.1 Europe Electric School Bus Industry, by Battery Capacity, 2022 – 2030 (USD Billion)
- 9.12 Europe Electric School Bus Industry, by Seating Capacity, 2022 – 2030
- 9.12.1 Europe Electric School Bus Industry, by Seating Capacity, 2022 – 2030 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.13.1.1 Asia Pacific Electric School Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.13.1 Asia Pacific Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.14 Asia Pacific Electric School Bus Industry, by Battery Type, 2022 – 2030
- 9.14.1 Asia Pacific Electric School Bus Industry, by Battery Type, 2022 – 2030 (USD Billion)
- 9.15 Asia Pacific Electric School Bus Industry, by Propulsion Type, 2022 – 2030
- 9.15.1 Asia Pacific Electric School Bus Industry, by Propulsion Type, 2022 – 2030 (USD Billion)
- 9.16 Asia Pacific Electric School Bus Industry, by Battery Capacity, 2022 – 2030
- 9.16.1 Asia Pacific Electric School Bus Industry, by Battery Capacity, 2022 – 2030 (USD Billion)
- 9.17 Asia Pacific Electric School Bus Industry, by Seating Capacity, 2022 – 2030
- 9.17.1 Asia Pacific Electric School Bus Industry, by Seating Capacity, 2022 – 2030 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.18.1.1 Latin America Electric School Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.18.1 Latin America Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.19 Latin America Electric School Bus Industry, by Battery Type, 2022 – 2030
- 9.19.1 Latin America Electric School Bus Industry, by Battery Type, 2022 – 2030 (USD Billion)
- 9.20 Latin America Electric School Bus Industry, by Propulsion Type, 2022 – 2030
- 9.20.1 Latin America Electric School Bus Industry, by Propulsion Type, 2022 – 2030 (USD Billion)
- 9.21 Latin America Electric School Bus Industry, by Battery Capacity, 2022 – 2030
- 9.21.1 Latin America Electric School Bus Industry, by Battery Capacity, 2022 – 2030 (USD Billion)
- 9.22 Latin America Electric School Bus Industry, by Seating Capacity, 2022 – 2030
- 9.22.1 Latin America Electric School Bus Industry, by Seating Capacity, 2022 – 2030 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Electric School Bus Industry, by Country, 2022 – 2030 (USD Billion)
- 9.23.1 The Middle-East and Africa Electric School Bus Industry, 2022 – 2030 (USD Billion)
- 9.24 The Middle-East and Africa Electric School Bus Industry, by Battery Type, 2022 – 2030
- 9.24.1 The Middle-East and Africa Electric School Bus Industry, by Battery Type, 2022 – 2030 (USD Billion)
- 9.25 The Middle-East and Africa Electric School Bus Industry, by Propulsion Type, 2022 – 2030
- 9.25.1 The Middle-East and Africa Electric School Bus Industry, by Propulsion Type, 2022 – 2030 (USD Billion)
- 9.26 The Middle-East and Africa Electric School Bus Industry, by Battery Capacity, 2022 – 2030
- 9.26.1 The Middle-East and Africa Electric School Bus Industry, by Battery Capacity, 2022 – 2030 (USD Billion)
- 9.27 The Middle-East and Africa Electric School Bus Industry, by Seating Capacity, 2022 – 2030
- 9.27.1 The Middle-East and Africa Electric School Bus Industry, by Seating Capacity, 2022 – 2030 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 BYD
- 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 Yutong
- 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 CAF
- 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 VDL Groep
- 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 AB Volvo
- 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 Dailmer 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 NFI Group
- 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 Ankai
- 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 King Long
- 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 Nissan Motor Corporation
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Toyota Motor Corporation
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 SCANIA AB
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 General Motors
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.1 BYD
List Of Figures
Figures No 1 to 29
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
“Asia-Pacific” region will lead the global Electric School Bus market during the forecast period 2022 to 2030.
The key factors driving the market are Rising Demand For Zero-Emission Vehicles, Government Backing For the Electrification Of Public Transportation.
The key players operating in the Electric School Bus market are BYD, Yutong, CAF, VDL Groep, AB Volvo, Dailmer AG, NFI Group, Ankai, King Long, Nissan Motor Corporation, Toyota Motor Corporation, SCANIA AB, General Motors.
The global Electric School Bus market is expanding growth with a CAGR of approximately 14% during the forecast period (2022 to 2030).
The global Electric School Bus market size was valued at USD 18 Billion in 2021 and it is projected to reach around USD 40 Billion by 2030.