Electric Mid- & Large Bus Market by Type, Seating Capacity (70 Seats and Above, Below 70 Seats), Level of Autonomy, Application, End-use

Description

List of Tables

[193 Pages Report] The Electric Mid- & Large Bus Market size was estimated at USD 31.73 billion in 2023 and expected to reach USD 36.27 billion in 2024, at a CAGR 15.16% to reach USD 85.28 billion by 2030.

The electric mid- and large buses are primarily used for public transportation, including city and intercity travel, and private fleets servicing institutions, airports, and hospitality entities. Stringent environmental regulations with rising favorable government policies and subsidies for adopting electric buses are driving the growth of the electric mid- and large buses market. Growing advancements in battery technology and the rising commitment of public and private sectors towards greener transportation are fueling the market's growth. Additionally, the growing demand for electric buses is propelled by increasing urbanization and the smart city movement. High initial investment costs for electric buses and the required infrastructure hampers the growth of the electric mid- and large buses market. The growing development of ultra-fast charging systems, vehicle-to-grid (V2G) technologies, and autonomous driving features further creates opportunities for the electric mid- and large bus market. Growing development of electric buses with extended range and reduced total cost of ownership, offering significant potential for manufacturers and technology providers.

KEY MARKET STATISTICS
Base Year [2023]	USD 31.73 billion
Estimated Year [2024]	USD 36.27 billion
Forecast Year [2030]	USD 85.28 billion
CAGR (%)	15.16%

Type: Growing usage of fuel cell electric vehicles (FCEVs) for operations where longer-range and quick refueling

The battery electric vehicle (BEV) includes buses powered exclusively by electricity stored onboard and are preferred in urban environments where charging infrastructure is well-developed and where low-noise and zero-emission vehicles are prioritized. BEVs are ideal for operators looking to reduce carbon emissions and operating costs related to fuel and maintenance. Fuel cell electric vehicles (FCEVs) are buses that use hydrogen fuel cells for electricity generation to power an onboard electric motor. FCEVs are suitable for operations where longer-range and quick refueling are necessary. They are favored in regions investing in hydrogen fuel infrastructure and where using renewable energy for hydrogen production is possible. Plug-in hybrid electric vehicles (PHEVs) combine an internal combustion engine with an electric motor and battery system that can be recharged by plugging into an external electricity source. PHEVs are sought after by transit agencies that need the flexibility of extended range for longer routes or areas with limited electric infrastructure. They offer a balance of lower emissions and fuel savings while providing a backup power source.

Seating Capacity: Rising significance of electric buses with 70 seats and above for long-distance transportation

The electric buses with 70 seats and above cater mainly to long-distance transportation and high-capacity routes. They are designed for maximum passenger load and are more suitable for public transport in highly populated urban areas or school buses in areas where multiple trips are not feasible due to long distances. These buses are perfect for inter-city travel and large-scale urban transportation networks where efficiency and capacity are of utmost importance. Electric buses with seating capacity below 70 seats are typically used for shorter routes, including feeder services to larger transit hubs, intra-city travel with frequent stops, and areas where smaller buses are more efficient due to lower demand or narrower roadways.

Application: Increasing demand for electric mid- & large buses for intercity applications for prolonged traveling

Intercity electric buses are designed for longer distances between cities and are typically equipped with features conducive to prolonged travel. They often offer more luggage space, comfortable seating, and amenities suited for longer durations, such as restrooms. The preference for electric intercity buses is increasing due to a greater consciousness towards environmental sustainability and cost-effectiveness in terms of fuel and maintenance costs compared to diesel buses. Intracity electric buses, also known as urban buses, are used for transportation within a city and its suburbs. These vehicles are characterized by shorter travel distances and frequent stops. The preference for electric intracity buses mainly stems from the necessity for reduced urban air and noise pollution, as well as lower operating costs. The high maneuverability and the ability to handle frequent stop-start conditions effectively are critical requirements for these buses.

End-use: Rising potential of electric mid- and large buses across the public sector, which can integrate with existing public transportation infrastructure

In the private segment, electric mid- and large buses cater to institutions, corporations, and tour operators. The need-based preference here is for cost efficiency, comfort, and customization, as private operators often require specific amenities to serve their clients. Buses used in this segment are not just transportation tools but also a representation of the company's image and commitment to sustainability. Public electric mid- and large buses are predominantly used by city transport agencies and public transportation companies. The focus within this segment is primarily on durability, reliability, and high passenger capacity. Public end users also require buses that are able to integrate with existing public transportation infrastructure, such as charging stations and maintenance facilities.

Regional Insights

The electric mid- & large bus market in the Americas is continuously growing with the rising focus on reducing greenhouse gas emissions and the procurement of electric buses in several cities. Market expansion is bolstered by supportive government policies, such as federal grants and incentives aimed at renewing fleets with electric models. South American countries are also beginning to adopt electric bus technology, with Chile and Colombia showing significant activity. Major manufacturers are investing in the development of electric buses with longer ranges and faster charging capabilities to meet the varied demands of public transit systems and school districts across the continent. The electric mid- & large bus market is rapidly expanding in the Asia-Pacific region with the availability of the government's aggressive policies favoring electric vehicle adoption, coupled with incentives and mandates. Countries such as India, China, Japan, South Korea, and Singapore are gradually implementing electric buses into their transportation networks. Rapid urbanization, environmental concerns, and the push for smart cities in the APAC region continue to drive the adoption of electric buses, making the APAC market a critical area of growth. In Europe, the Middle East, and Africa (EMEA), the electric bus market is characterized by a strong regulatory environment that prioritizes emission reductions and sustainable public transport solutions. The European segment leads the EMEA market, with several countries facilitating market growth through subsidies, grants, and regulatory frameworks. The Middle East and African regions are exhibiting nascent development in the electric bus sector, with growth being primarily driven by economic diversification efforts and the necessity to improve urban air quality.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric Mid- & Large Bus Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric Mid- & Large Bus Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electric Mid- & Large Bus Market, highlighting leading vendors and their innovative profiles. These include Anhui Ankai Automobile Co., Ltd., Blue Bird Corporation, BYD Motors Inc., Construcciones y Auxiliar de Ferrocarriles, S.A., CRRC Corporation Limited, Cummins Inc., Eicher Motors Limited, Gillig LLC, GreenPower Motor Company, Lion Electric Company, Mercedes-Benz Group AG, Motiv Power Systems, Inc., NFI Group Inc., Olectra Greentech Limited, Pelican Engineering Co Ltd, Proterra Inc., REV Group Inc., Tata Motors Limited, The Lion Electric Company, Thomas Built Buses Inc., TRANSDEV Group, Traton Group, Volvo Group, Xiamen King Long International Trading Co.,Ltd., and Yutong Buses Co. Ltd..

Market Segmentation & Coverage

This research report categorizes the Electric Mid- & Large Bus Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Plug-in Hybrid Electric Vehicle

Seating Capacity
- 70 Seats and Above
- Below 70 Seats

Level of Autonomy
- Autonomous
- Manual
- Semi-Autonomous

Application
- Intercity
- Intracity

End-use
- Private
- Public

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Electric Mid- & Large Bus Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Mid- & Large Bus Market?

3. What are the technology trends and regulatory frameworks in the Electric Mid- & Large Bus Market?

4. What is the market share of the leading vendors in the Electric Mid- & Large Bus Market?

5. Which modes and strategic moves are suitable for entering the Electric Mid- & Large Bus Market?

Product Code: MRR-DE517DBDEEDC

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing adoption of electric vehicles in the commercial vehicle segment
  - 5.1.1.2. Government support for the electrification of public transport
  - 5.1.1.3. Implementation of stringent emission norms and environmental regulations
- 5.1.2. Restraints
  - 5.1.2.1. High cost of development of electric buses
- 5.1.3. Opportunities
  - 5.1.3.1. Growing introduction of technologically advanced mid and large-electric buses
  - 5.1.3.2. Rising investment to expand the electric vehicle charging infrastructure
- 5.1.4. Challenges
  - 5.1.4.1. Range issues with electric buses
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing usage of fuel cell electric vehicles (FCEVs) for operations where longer-range and quick refueling
- 5.2.2. Seating Capacity: Rising significance of electric buses with 70 seats and above for long-distance transportation
- 5.2.3. Application: Increasing demand for electric mid- & large buses for intercity applications for prolonged traveling
- 5.2.4. End-use: Rising potential of electric mid- and large buses across the public sector, which can integrate with existing public transportation infrastructure
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Electric Mid- & Large Bus Market, by Type

6.1. Introduction
6.2. Battery Electric Vehicle
6.3. Fuel Cell Electric Vehicle
6.4. Plug-in Hybrid Electric Vehicle

7. Electric Mid- & Large Bus Market, by Seating Capacity

7.1. Introduction
7.2. 70 Seats and Above
7.3. Below 70 Seats

8. Electric Mid- & Large Bus Market, by Level of Autonomy

8.1. Introduction
8.2. Autonomous
8.3. Manual
8.4. Semi-Autonomous

9. Electric Mid- & Large Bus Market, by Application

9.1. Introduction
9.2. Intercity
9.3. Intracity

10. Electric Mid- & Large Bus Market, by End-use

10.1. Introduction
10.2. Private
10.3. Public

11. Americas Electric Mid- & Large Bus Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Electric Mid- & Large Bus Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Electric Mid- & Large Bus Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Higer Unveils 3 Pure Electric Buses at Busworld 2023
- 14.3.2. BYD Premieres Two New Pure-electric Buses at Busworld 2023
- 14.3.3. Lion Electric Celebrates Official Opening of Largest All-Electric U.S. Manufacturing Facility Dedicated to Medium and Heavy-Duty Commercial Vehicle Production
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio