Market Size of Africa Electric Bus Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.26 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Electric Bus Market Analysis
The Africa Electric Bus Market was valued at USD 872.89 million in 2021, and it is projected to reach USD 1548.44 million by 2027, registering a CAGR of 10.26% during the forecast period (2022-2027).
COVID-19 pandemic undoubtedly has an impact on the African electric bus market, as it has on almost every other industry in the market. Manufacturing units have been closed due to the region's electric bus market slowdown, with social distancing norms to follow and limited staff available to run production lines with all safety measures.
In the long term, the growing emphasis of countries on promoting electrification of mass transit solutions, as well as government support, is propelling the market growth. Several African countries are taking part in the growing electric-powered transportation wave. Increased use of electric vehicles is a strategy for decarbonizing transportation and improving air quality in African cities. However, there are a number of issues that African countries must address in order to reap the benefits of the electric vehicle movement.
However, Africa used vehicle imports and a growing vehicle fleet are driving up climate emissions and air quality impacts in the region. This might hamper the market growth during the forecast period. According to the United Nations Environment Programme's Integrated Assessment of Short-lived Climate Pollutants in Africa and the Caribbean report, around 64,000 people prematurely die every year in Africa and the Caribbean due to air pollution that is caused by transportation.
Africa Electric Bus Industry Segmentation
An electric bus, also known as an e-bus, is a bus that does not use a traditional IC engine for propulsion and is entirely electric. The onboard electric motor of an E-bus is powered by onboard batteries or a set of batteries. Electric buses are considered environmentally friendly because they emit no pollutants. They are also more cost-effective than traditional gasoline/diesel buses.
The electric bus market is segmented by vehicle type, consumer type, and country.
The Electric Bus Market is segmented by vehicle type into battery electric and plug-in hybrid electric. By consumer type, the market is segmented into government and fleet operators. By Country, the market is segmented into South Africa, Morocco, Egypt, and Rest of Africa. The report covers the market size and forecast in value (USD Million) for all the above segments.
| By Propulsion Type | |
| Battery Electric | |
| Plug-In Hybrid Electric |
| By Consumer Type | |
| Government | |
| Fleet Operators |
| By Country | |
| South Africa | |
| Morocco | |
| Egypt | |
| Rest of Africa |
Africa Electric Bus Market Size Summary
The Africa Electric Bus Market is experiencing a transformative phase, driven by a growing emphasis on electrification of mass transit solutions and supportive government policies. The market is witnessing increased participation from several African countries in the global shift towards electric-powered transportation, which is seen as a strategy to decarbonize transport and enhance air quality in urban areas. Despite the challenges posed by the COVID-19 pandemic, which temporarily slowed down production due to manufacturing unit closures and social distancing measures, the long-term outlook remains positive. The adoption of electric buses is expected to contribute significantly to reducing CO2 emissions, especially when powered by renewable energy sources like solar grids. However, the market faces hurdles such as the import of used vehicles and a rising vehicle fleet, which could impede growth and exacerbate climate emissions.
Battery electric buses are anticipated to lead the market, supported by local government initiatives aimed at reducing emissions and operational costs in public transportation. Local startups are actively developing electric bus prototypes, which are expected to create jobs and boost local economies. International organizations, including the UN Environment, are assisting African nations in transitioning to low-emission public transport systems. Notable developments include the launch of Kenya's first all-electric bus by Opibus and Morocco's partnership with a Chinese bank to manufacture electric buses. Major players in the market, such as BYD, Yutong, and Zhongtong Bus, are expanding their presence through strategic alliances and partnerships with governments. These efforts are part of a broader strategy to address the unique challenges of public transportation in Africa and to promote the adoption of electric buses across the continent.
Africa Electric Bus Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Propulsion Type
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2.1.1 Battery Electric
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2.1.2 Plug-In Hybrid Electric
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2.2 By Consumer Type
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2.2.1 Government
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2.2.2 Fleet Operators
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2.3 By Country
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2.3.1 South Africa
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2.3.2 Morocco
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2.3.3 Egypt
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2.3.4 Rest of Africa
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Africa Electric Bus Market Size FAQs
What is the current Africa Electric Bus Market size?
The Africa Electric Bus Market is projected to register a CAGR of 10.26% during the forecast period (2024-2029)
Who are the key players in Africa Electric Bus Market?
Zhongtong Bus Holding Co., Ltd, BYD Auto Co., Ltd., Zhengzhou Yutong Bus Co., Ltd., King Long United Automotive Industry Co., Ltd and Shanghai Wanxiang Automobile Manufacturing Co., Ltd . are the major companies operating in the Africa Electric Bus Market.
