How big is the Asia-Pacific Electric Bus Market?

The Asia-Pacific Electric Bus Market size is expected to reach USD 44.74 billion in 2024 and grow at a CAGR of 10.55% to reach USD 73.88 billion by 2029. Read More

What is the current Asia-Pacific Electric Bus Market size?

In 2024, the Asia-Pacific Electric Bus Market size is expected to reach USD 44.74 billion. Read More

Who are the key players in Asia-Pacific Electric Bus Market?

BYD Auto Co. Ltd., Olectra Greentech Ltd. , Tata Motors Ltd. , Switch Mobility Ltd. and Zhengzhou Yutong Bus Co. Ltd. are the major companies operating in the Asia-Pacific Electric Bus Market. Read More

Which is the fastest growing region in Asia-Pacific Electric Bus Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Asia-Pacific Electric Bus Market?

In 2024, the Asia-Pacific accounts for the largest market share in Asia-Pacific Electric Bus Market. Read More

What years does this Asia-Pacific Electric Bus Market cover, and what was the market size in 2023?

In 2023, the Asia-Pacific Electric Bus Market size was estimated at USD 40.47 billion. The report covers the Asia-Pacific Electric Bus Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Electric Bus Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Asia Pacific Electric Bus Market - Manufacturers, Size & Share

Asia Pacific Electric Bus Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Asia Pacific Electric Bus Companies and the market is segmented by Vehicle Type (Battery Electric Bus and Plug-in Hybrid Electric Bus), By Power Source Type (DC/AC Inverter, DC/DC Converter, DC/DC Boost Converter, E-Motor, AC/DC Charger, and Motor Controller), Consumer (Government and Fleet Operators), and Country (China, India, Japan, South Korea and Rest of Asia-Pacific). The market size and forecasts are provided in terms of value (USD Billion) for all the above segments.

Asia Pacific Electric Bus Industry Overview

The Asia-Pacific electric bus market is highly consolidated. The market is characterized by the presence of considerably large players who have secured long-term supply contracts with major municipal operators looking to completely electrify their public transport networks and reduce their carbon footprint. These players also engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions.

Some of the major players in the electric bus market include BYD, Tata Motors, Yutong, Switch Mobility (Ashok Leyland), Olectra Greentech Ltd., VE Electro Mobility Ltd., etc. Indian manufacturers like Ashok Leyland Ltd. are also securing major orders for electric buses which is rapidly expanding the market. For instance,

In August 2022, Ashok Leyland-owned Switch Mobility unveiled India's first air-conditioned electric double-decker bus for BEST in Mumbai.
In August 2022, Ashok Leyland owned Switch Mobility delivered 75 electric city buses to Bengaluru Metropolitan Transport Corporation (BMTC) as a part of 300 bus order.