Global Electric Bus Market Report 2023: Major Players Include AB Volvo, Ashok Leyland, Solaris Bus & Coach and Eicher Motors


Dublin, April 25, 2023 (GLOBE NEWSWIRE) -- The "Electric Bus Global Market Report 2023" report has been added to's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global electric bus market grew from $29.96 billion in 2022 to $33.72 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The electric bus market is expected to grow to $55.17 billion in 2027 at a CAGR of 13.1%.

Major players in the electric bus market are Tata Motors Limited, BYD Co. Ltd., AB Volvo, Ashok Leyland Limited, Solaris Bus & Coach S.A., Zhongtong Bus & Holding Company Limited, Eicher Motors Limited, Proterra, Zhengzhou Yutong Bus Co. Ltd., Daimler AG, Scania AB, Ebusco, NFI Group Inc., and Dongfeng Motor Corporation.

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An electric bus is an electric vehicle (EV) that runs on electricity rather than diesel or gasoline. The electric bus is powered exclusively by a zero-emissions electricity source.

The main types of electric buses are battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. Battery electric vehicles are entirely electric vehicles with rechargeable batteries that do not have a gasoline engine. The battery pack, which is recharged from the grid, provides all of the vehicle's energy.

The various batteries used are lithium-nickel-manganese-cobalt-oxide, lithium-iron-phosphate, and others. The vehicle ranges are less than 200 miles and above 200 miles depending on the capacity in terms of the distance of the vehicle. The battery capacity of electric buses is up to 400 kWh and above 400 kWh depending upon the capacity of the battery used. The electric bus can be used for intercity and intracity applications.

The electric bus market research report is one of a series of new reports that provides electric bus market statistics, including electric bus industry global market size, regional shares, competitors with an electric bus market share, detailed electric bus market segments, market trends and opportunities, and any further data you may need to thrive in the electric bus industry. This electric bus market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technology advancement is a key trend in the electric bus market. Companies manufacturing electric buses are investing in technology to maximize passenger load carrying capacity and running time of electric buses to make the whole operation economically viable as well as sustainable for the future.

Asia-Pacific was the largest region in the electric bus market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the electric bus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the electric bus market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Various proactive government initiatives to encourage the use of e-buses, create lucrative growth options for the market. Governments around the world have launched initiatives to make urban public transportation more sustainable and fuel-efficient through the use of electric buses.

For instance, in December 2021, the NITI Aayog (National Institution for Transforming India), the policy think tank of the Government of India, launched e-Sawaari, India Electric Bus Coalition, in collaboration with Convergence Energy Service Limited (CESL) and the World Resources Institute, India (WRI India), and with the support of the Transformative Urban Mobility Initiative (TUMI).

The coalition was formed to share knowledge and lessons learned from the adoption of e-buses in India among various stakeholders, including the central and state governments, city-level government agencies, financing institutions, transit service providers, ancillary service providers, and original equipment manufacturers (OEMs). Therefore, government initiatives will boost electric bus services which in turn is likely to drive the growth of the electric bus market going forward.

Key Attributes:

Report AttributeDetails
No. of Pages200
Forecast Period2023 - 2027
Estimated Market Value (USD) in 2023$33.72 billion
Forecasted Market Value (USD) by 2027$55.17 billion
Compound Annual Growth Rate13.1%
Regions CoveredGlobal

Key Topics Covered:

1. Executive Summary

2. Electric Bus Market Characteristics

3. Electric Bus Market Trends And Strategies

4. Electric Bus Market - Macro Economic Scenario
4.1 COVID-19 Impact On Electric Bus Market
4.2 Ukraine-Russia War Impact On Electric Bus Market
4.3 Impact Of High Inflation On Electric Bus Market

5. Electric Bus Market Size And Growth
5.1. Global Electric Bus Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Electric Bus Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Electric Bus Market Segmentation
6.1. Global Electric Bus Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Battery Electric Vehicle
  • Plug-In Hybrid Electric Vehicle
  • Fuel Cell Electric Vehicle

6.2. Global Electric Bus Market, Segmentation By Battery Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Lithium-Nickel-Manganese-Cobalt-Oxide
  • Lithium-Iron-Phosphate
  • Other Battery Types

6.3. Global Electric Bus Market, Segmentation By Vehicle Range, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Less Than 200 Miles
  • Above 200 Miles

6.4. Global Electric Bus Market, Segmentation By Battery Capacity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Up to 400 kWh
  • Above 400 kWh

6.5. Global Electric Bus Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Intercity
  • Intracity

7. Electric Bus Market Regional And Country Analysis
7.1. Global Electric Bus Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Electric Bus Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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Global Electric Bus Market

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