Electric Bus Battery Pack Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Electric Bus Battery Pack Market is segmented by Propulsion Type (BEV, PHEV), by Battery Chemistry (LFP, NCA, NCM, NMC, Others), by Capacity (15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh), by Battery Form (Cylindrical, Pouch, Prismatic), by Method (Laser, Wire), by Component (Anode, Cathode, Electrolyte, Separator), by Material Type (Cobalt, Lithium, Manganese, Natural Graphite, Nickel) and by Region (Asia-Pacific, Europe, Middle East & Africa, North America, South America). Market Size is represented by the total volume of EV battery packs sold, measured in kilowatt-hours (kWh), along with the Market Value in USD. Key data points observed include the total energy capacity of battery packs sold, expressed in kilowatt-hours (kWh), segmented by battery chemistry, the capacity range of each battery pack, and the specific application or vehicle type associated with each battery chemistry segment.

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Electric Bus Battery Pack Market Size

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Electric Bus Battery Pack Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 4.98 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 7.42 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Propulsion Type BEV
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 8.28 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region Asia-Pacific

Major Players

Electric Bus Battery Pack Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Electric Bus Battery Pack Market Analysis

The Electric Bus Battery Pack Market size is estimated at 4.98 billion USD in 2024, and is expected to reach 7.42 billion USD by 2029, growing at a CAGR of 8.28% during the forecast period (2024-2029).

4.98 Billion

Market Size in 2024 (USD)

7.42 Billion

Market Size in 2029 (USD)

-10.10 %

CAGR (2017-2023)

8.28 %

CAGR (2024-2029)

Largest Segment by Propulsion Type

99.55 %

value share, BEV, 2023

Icon image

BEV segment in e-buses is dominant, owing to factors such as zero emission, cheap technology over PHEV, very less maintenance and implementation of governmental Norms.

Largest Segment by Battery Chemistry

52.73 %

value share, LFP, 2023

Icon image

Cheap production, better safety, long range offerings, long life span are the factors maintaining the dominance of LFP battery in global electric bus sales.

Largest Segment by Battery Form

82.61 %

value share, Prismatic, 2023

Icon image

Prismatic batteries dominate electric buses market owing to its low cost, simple construction due to fewer electrical connections, high energy density, and safety.

Leading Market Player

14.71 %

market share, Contemporary Amperex Technology Co. Ltd. (CATL), 2022

Icon image

Contemporary Amperex Technology Co. Ltd. (CATL). dominates the global electric bus battery pack market due to its wide reach, strong production, and large exports.

Largest Segment by Capacity

55.01 %

value share, 40 kWh to 80 kWh, 2023

Icon image

Intercity travel, cost-effective long-distance transport, and convenient availability are driving demand for big buses with batteries over 250 kWH.

Rising environmental concerns and governmental initiatives are driving the growth of the global electric bus market, supported by expansions in battery manufacturing

  • Buses remain a popular mode of transportation globally, but rising environmental concerns and governmental moves to phase out conventional vehicles, like diesel and petrol buses, are fueling the demand for e-buses. However, factors like the COVID-19 pandemic led to a dip in e-bus demand in 2020. As the EV market rebounded, e-bus sales surged by 32% in 2021, propelling battery pack sales up by 30.9% in the same year.
  • The growing demand for electric buses, driven by expanding public transportation services, is spurring the need for diverse battery types in both battery electric and plug-in hybrid buses. Notably, the US witnessed a remarkable 66% surge in transit electric bus sales in 2022 compared to the previous year. States like California are setting ambitious zero-emission targets, aiming to sell only zero-emission buses by 2030. These developments collectively pushed the global demand for bus batteries up by 15% in 2022 over 2021.
  • In April 2023, Lion Electric, a Canada-based battery company, inaugurated a new manufacturing facility dedicated to batteries for medium- and heavy-duty vehicles, including buses. The company was eyeing a production capacity of 1.7 GWh by the close of 2023. Such initiatives, seen not only in Canada but globally, are poised to bolster the demand for electric bus batteries in the coming years.
Electric Bus Battery Pack Market

Asia-Pacific, led by China, dominates the global EV battery pack market with remarkable growth

  • The global electric bus battery pack market witnessed significant growth during the historical period (2017-2021), driven by the increasing adoption of electric buses in several countries worldwide. The adoption of electric buses is driven by the growing need for clean and green public transportation to combat air pollution and greenhouse gas emissions. Additionally, the continuous research and development activities undertaken by leading battery manufacturers have resulted in the development of advanced electric bus battery packs with high energy density and longer lifespan, which are an ideal replacement for traditional fossil fuel-based buses.
  • In the base year of 2022-2023, the global electric bus battery pack market is expected to witness steady growth, driven by several factors such as the increasing need for eco-friendly public transportation, the rising demand for electric vehicles, and the government initiatives to promote the adoption of clean energy. Furthermore, the growing focus on renewable energy and sustainable infrastructure is expected to boost the demand for electric buses in various regions across the world.
  • The global electric bus battery pack market is expected to witness significant growth, driven by the increasing adoption of electric buses, the rising need for clean and green public transportation, and the expanding electric vehicle market during the forecast (2023-2029). Furthermore, leading OEMs and battery manufacturers are investing heavily in research and development to create new and advanced technologies that offer better performance and efficiency, which is expected to further boost the growth of the market.

Electric Bus Battery Pack Market Trends

BYD AND TESLA ARE LEADING THE CHARGE IN THE EV MARKET AND SHAPING THE FUTURE

  • In 2022, BYD was the market leader in electric vehicle sales and held a share of 13.3%. BYD's leading position can be attributed to several factors. It has been an early and prominent player in the EV industry, with a strong focus on producing electric vehicles and related technologies. The company's early entry into the market allowed it to establish a solid foundation and gain recognition among consumers. BYD has also been actively expanding its operations globally, forging partnerships, and investing in research and development, all of which contribute to its leading position.
  • Tesla has been at the forefront of electric vehicle innovation and has played a crucial role in popularizing EVs worldwide. Tesla was a significant player in the EV industry in 2022, with a market share of 12.2%. Tesla's strong brand image, cutting-edge technology, and extensive Supercharger network have contributed to its success.
  • Among the other players in the EV market, there are several notable companies that hold significant market shares. BMW's established reputation in the automotive industry, coupled with its commitment to electric mobility through its "BMW i" sub-brand, has contributed to its market presence. Similarly, Volkswagen, which held a market share of 3.9% in 2022, has been actively investing in electric mobility under its "Volkswagen Group" umbrella. These companies, along with others like Mercedes-Benz, Kia, and Hyundai, are recolonizing the EV industry by leveraging their existing brand recognition, introducing compelling electric vehicle models, and investing in technology to enhance the range and performance of their electric offerings.
Electric Bus Battery Pack Market

TESLA AND BYD DOMINATED THE BEST-SELLING EV MODELS OF 2022

  • The best-selling EV models in 2022 were dominated by two key OEMs: Tesla and BYD. Tesla held a strong market position with two of its models, the Model Y and Model 3, capturing the first and third spots, respectively. The Tesla Model Y was the most popular plug-in electric vehicle, with global unit sales of roughly 771,300 in 2022. That year, deliveries of Tesla's Model 3 and Model Y surpassed 1.2 million, a Y-o-Y increase of 36.77% for Tesla's best-selling models. While two of the five best-selling plug-in electric vehicle (PEV) models were Tesla-branded, the battery electric vehicle manufacturer faced competition from Asian brands in 2022. China-based BYD overtook Tesla as the best-selling PEV brand in 2022, relying on a large offering of plug-in hybrid electric models. Following closely behind the Tesla Model Y, the BYD Song Plus (BEV + PHEV) secured the second spot, with sales reaching 477,090 units. BYD's established presence in the Chinese market, along with its reputation for producing reliable and technologically advanced electric vehicles, likely contributed to the strong sales performance of the Song Plus models.
  • The Volkswagen ID.4 stood out among the best-selling EV models as the only European PEV (Plug-in Electric Vehicle) in the top ten. With a sales volume of 174,090 units in 2022, the ID.4 demonstrated Volkswagen's commitment to electric mobility and its growing presence in the EV market.
  • Overall, these top-performing EV models from Tesla and BYD, along with other notable contenders like the Wuling Hong Guang MINI EV and Volkswagen ID.4, demonstrate the increasing consumer demand for electric vehicles.
Electric Bus Battery Pack Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • INCREASING GLOBAL DEMAND AND GOVERNMENT SUPPORT PROPELLING ELECTRIC VEHICLE MARKET GROWTH
  • EV BATTERY PACK PRICES DECLINED DUE TO ECONOMIES OF SCALE AND TECHNOLOGICAL ADVANCEMENTS, BUT FACED A TEMPORARY INCREASE IN 2022
  • THE DECREASING COST OF BATTERIES IS A MAJOR FACTOR IN THE EXPANDING AND MORE ACCESSIBLE GLOBAL EV MARKET
  • AUTOMAKERS LAUNCHED NEW ELECTRIC VEHICLE MODELS TO MEET THE INCREASING DEMAND, BOOSTING BATTERY PACK DEMAND WORLDWIDE
  • LFP, NMC, NCA, AND NCM BATTERIES ARE LEADING THE WAY, WITH DIFFERENT GEOGRAPHIES SHOWING A PREFERENCE FOR SPECIFIC CHEMISTRIES
  • INCREASING GLOBAL DEMAND FOR ELECTRIC VEHICLE BATTERIES AND MATERIALS DRIVEN BY INCREASING ELECTRIFICATION OF VEHICLES, WITH LFP BATTERIES LEADING THE TREND
  • INCREASING GLOBAL DEMAND AND TECHNOLOGICAL ADVANCEMENTS DRIVE THE ELECTRIC VEHICLE MARKET AND BATTERY INDUSTRY

Electric Bus Battery Pack Industry Overview

The Electric Bus Battery Pack Market is fairly consolidated, with the top five companies occupying 85.35%. The major players in this market are BYD Company Ltd., China Aviation Battery Co. Ltd. (CALB), Contemporary Amperex Technology Co. Ltd. (CATL), Gotion High-Tech Co. Ltd. and Guoxuan High-tech Co. Ltd. (sorted alphabetically).

Electric Bus Battery Pack Market Leaders

  1. BYD Company Ltd.

  2. China Aviation Battery Co. Ltd. (CALB)

  3. Contemporary Amperex Technology Co. Ltd. (CATL)

  4. Gotion High-Tech Co. Ltd.

  5. Guoxuan High-tech Co. Ltd.

Electric Bus Battery Pack Market Concentration

Other important companies include BMZ Batterien-Montage-Zentrum GmbH, Farasis Energy (Ganzhou) Co. Ltd., Leclanché SA, LG Energy Solution Ltd., NFI Group Inc., Panasonic Holdings Corporation, Proterra Operating Company Inc., Samsung SDI Co. Ltd., Sunwoda Electric Vehicle Battery Co. Ltd. (Sunwoda), Tata Autocomp Systems Ltd., TOSHIBA Corp..

*Disclaimer: Major Players sorted in alphabetical order.

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Electric Bus Battery Pack Market News

  • February 2023: Samsung SDI is expanding investment in its Hungary plant, which has the largest production capacity to respond to the fast-increasing demand for mid- to large-size batteries.
  • January 2023: Korean battery maker Samsung SDI posted record-high profit in 2022, driven by solid demand for electric vehicle batteries and energy storage systems.
  • November 2022: Samsung SDI has signed an agreement with Sungkyunkwan University to establish a course for battery technologies to raise battery experts.

Free with this Report

Our comprehensive data set offers over 120 free charts, providing detailed regional and country-level insights into the EV battery pack industry. This includes analyses of distribution and production centers, variations in average selling prices (ASPs) across different regions, and a deep dive into industry trends like demand shifts and technological innovations. We also offer a thorough market segmentation, examining different battery chemistries, capacities, and form factors, alongside an in-depth understanding of market trends such as the adoption of advanced technologies and the impact of environmental regulations. Additionally, we provide an overview of major industry players, a look at the regulatory landscape, and market size analysis in terms of revenue and volume, all culminating in projections and forecasts that consider emerging trends and potential industry shifts.

Electric Bus Battery Pack Market
Electric Bus Battery Pack Market
Electric Bus Battery Pack Market
Electric Bus Battery Pack Market

Electric Bus Battery Pack Market Report - Table of Contents

1. EXECUTIVE SUMMARY & KEY FINDINGS

2. REPORT OFFERS

3. INTRODUCTION

  • 3.1 Study Assumptions & Market Definition
  • 3.2 Scope of the Study​
  • 3.3 Research Methodology

4. KEY INDUSTRY TRENDS

  • 4.1 Electric Bus Sales
  • 4.2 Electric Bus Sales By OEMs
  • 4.3 Best-selling EV Models
  • 4.4 OEMs With Preferable Battery Chemistry
  • 4.5 Battery Pack Price
  • 4.6 Battery Material Cost
  • 4.7 Price Chart Of Different Battery Chemistry
  • 4.8 Who Supply Whom
  • 4.9 EV Battery Capacity And Efficiency
  • 4.10 Number Of EV Models Launched
  • 4.11 Regulatory Framework
    • 4.11.1 Belgium
    • 4.11.2 Brazil
    • 4.11.3 Canada
    • 4.11.4 China
    • 4.11.5 Colombia
    • 4.11.6 France
    • 4.11.7 Germany
    • 4.11.8 Hungary
    • 4.11.9 India
    • 4.11.10 Indonesia
    • 4.11.11 Japan
    • 4.11.12 Mexico
    • 4.11.13 Poland
    • 4.11.14 Thailand
    • 4.11.15 UK
    • 4.11.16 US
  • 4.12 Value Chain & Distribution Channel Analysis

5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

  • 5.1 Propulsion Type
    • 5.1.1 BEV
    • 5.1.2 PHEV
  • 5.2 Battery Chemistry
    • 5.2.1 LFP
    • 5.2.2 NCA
    • 5.2.3 NCM
    • 5.2.4 NMC
    • 5.2.5 Others
  • 5.3 Capacity
    • 5.3.1 15 kWh to 40 kWh
    • 5.3.2 40 kWh to 80 kWh
    • 5.3.3 Above 80 kWh
    • 5.3.4 Less than 15 kWh
  • 5.4 Battery Form
    • 5.4.1 Cylindrical
    • 5.4.2 Pouch
    • 5.4.3 Prismatic
  • 5.5 Method
    • 5.5.1 Laser
    • 5.5.2 Wire
  • 5.6 Component
    • 5.6.1 Anode
    • 5.6.2 Cathode
    • 5.6.3 Electrolyte
    • 5.6.4 Separator
  • 5.7 Material Type
    • 5.7.1 Cobalt
    • 5.7.2 Lithium
    • 5.7.3 Manganese
    • 5.7.4 Natural Graphite
    • 5.7.5 Nickel
    • 5.7.6 Other Materials
  • 5.8 Region
    • 5.8.1 Asia-Pacific
    • 5.8.1.1 By Country
    • 5.8.1.1.1 China
    • 5.8.1.1.2 India
    • 5.8.1.1.3 Japan
    • 5.8.1.1.4 South Korea
    • 5.8.1.1.5 Thailand
    • 5.8.1.1.6 Rest-of-Asia-Pacific
    • 5.8.2 Europe
    • 5.8.2.1 By Country
    • 5.8.2.1.1 France
    • 5.8.2.1.2 Germany
    • 5.8.2.1.3 Hungary
    • 5.8.2.1.4 Italy
    • 5.8.2.1.5 Poland
    • 5.8.2.1.6 Sweden
    • 5.8.2.1.7 UK
    • 5.8.2.1.8 Rest-of-Europe
    • 5.8.3 Middle East & Africa
    • 5.8.4 North America
    • 5.8.4.1 By Country
    • 5.8.4.1.1 Canada
    • 5.8.4.1.2 US
    • 5.8.5 South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Key Strategic Moves
  • 6.2 Market Share Analysis
  • 6.3 Company Landscape
  • 6.4 Company Profiles
    • 6.4.1 BMZ Batterien-Montage-Zentrum GmbH
    • 6.4.2 BYD Company Ltd.
    • 6.4.3 China Aviation Battery Co. Ltd. (CALB)
    • 6.4.4 Contemporary Amperex Technology Co. Ltd. (CATL)
    • 6.4.5 Farasis Energy (Ganzhou) Co. Ltd.
    • 6.4.6 Gotion High-Tech Co. Ltd.
    • 6.4.7 Guoxuan High-tech Co. Ltd.
    • 6.4.8 Leclanché SA
    • 6.4.9 LG Energy Solution Ltd.
    • 6.4.10 NFI Group Inc.
    • 6.4.11 Panasonic Holdings Corporation
    • 6.4.12 Proterra Operating Company Inc.
    • 6.4.13 Samsung SDI Co. Ltd.
    • 6.4.14 Sunwoda Electric Vehicle Battery Co. Ltd. (Sunwoda)
    • 6.4.15 Tata Autocomp Systems Ltd.
    • 6.4.16 TOSHIBA Corp.
  • *List Not Exhaustive

7. KEY STRATEGIC QUESTIONS FOR EV BATTERY PACK CEOS

8. APPENDIX

  • 8.1 Global Overview
    • 8.1.1 Overview
    • 8.1.2 Porter’s Five Forces Framework
    • 8.1.3 Global Value Chain Analysis
    • 8.1.4 Market Dynamics (DROs)
  • 8.2 Sources & References
  • 8.3 List of Tables & Figures
  • 8.4 Primary Insights
  • 8.5 Data Pack
  • 8.6 Glossary of Terms
** Subject To Availablity

List of Tables & Figures

  1. Figure 1:  
  2. ELECTRIC VEHICLE SALES, BY BODY TYPE, UNITS, GLOBAL, 2017 - 2029
  1. Figure 2:  
  2. ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, GLOBAL, 2023
  1. Figure 3:  
  2. ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, GLOBAL, 2023
  1. Figure 4:  
  2. BEST-SELLING EV MODELS, UNITS, GLOBAL, 2023
  1. Figure 5:  
  2. OEMS MARKET SHARE BY ELECTRIC VEHICLE BATTERY CHEMISTRY, VOLUME %, GLOBAL, 2023
  1. Figure 6:  
  2. ELECTRIC VEHICLE BATTERY CELL AND PACK PRICE, USD, GLOBAL, 2017 - 2029
  1. Figure 7:  
  2. ELECTRIC VEHICLE KEY BATTERY MATERIAL PRICE, BY MATERIAL, USD, GLOBAL, 2017 - 2029
  1. Figure 8:  
  2. ELECTRIC VEHICLE BATTERY PRICE, BY BATTERY CHEMISTRY, USD, GLOBAL, 2017 - 2029
  1. Figure 9:  
  2. EV BATTERY PACK CAPACITY AND EFFICIENCY, KM/KWH, GLOBAL, 2023
  1. Figure 10:  
  2. UPCOMING EV MODELS, BY BODY TYPE, UNITS, GLOBAL, 2023
  1. Figure 11:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, KWH, GLOBAL, 2017 - 2029
  1. Figure 12:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, USD, GLOBAL, 2017 - 2029
  1. Figure 13:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY PROPULSION TYPE, KWH, GLOBAL, 2017 - 2029
  1. Figure 14:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY PROPULSION TYPE, USD, GLOBAL, 2017 - 2029
  1. Figure 15:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, PROPULSION TYPE, VOLUME SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 16:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 17:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY BEV, KWH, GLOBAL, 2017 - 2029
  1. Figure 18:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY BEV, USD, GLOBAL, 2017 - 2029
  1. Figure 19:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY PHEV, KWH, GLOBAL, 2017 - 2029
  1. Figure 20:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY PHEV, USD, GLOBAL, 2017 - 2029
  1. Figure 21:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY BATTERY CHEMISTRY, KWH, GLOBAL, 2017 - 2029
  1. Figure 22:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY BATTERY CHEMISTRY, USD, GLOBAL, 2017 - 2029
  1. Figure 23:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BATTERY CHEMISTRY, VOLUME SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 24:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BATTERY CHEMISTRY, VALUE SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 25:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY DELETE, KWH, GLOBAL, 2017 - 2029
  1. Figure 26:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY DELETE, USD, GLOBAL, 2017 - 2029
  1. Figure 27:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY LFP, KWH, GLOBAL, 2017 - 2029
  1. Figure 28:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY LFP, USD, GLOBAL, 2017 - 2029
  1. Figure 29:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NCA, KWH, GLOBAL, 2017 - 2029
  1. Figure 30:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NCA, USD, GLOBAL, 2017 - 2029
  1. Figure 31:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NCM, KWH, GLOBAL, 2017 - 2029
  1. Figure 32:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NCM, USD, GLOBAL, 2017 - 2029
  1. Figure 33:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NMC, KWH, GLOBAL, 2017 - 2029
  1. Figure 34:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NMC, USD, GLOBAL, 2017 - 2029
  1. Figure 35:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY OTHERS, KWH, GLOBAL, 2017 - 2029
  1. Figure 36:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY OTHERS, USD, GLOBAL, 2017 - 2029
  1. Figure 37:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY CAPACITY, KWH, GLOBAL, 2017 - 2029
  1. Figure 38:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY CAPACITY, USD, GLOBAL, 2017 - 2029
  1. Figure 39:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, CAPACITY, VOLUME SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 40:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, CAPACITY, VALUE SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 41:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, KWH, GLOBAL, 2017 - 2029
  1. Figure 42:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, USD, GLOBAL, 2017 - 2029
  1. Figure 43:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, KWH, GLOBAL, 2017 - 2029
  1. Figure 44:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, USD, GLOBAL, 2017 - 2029
  1. Figure 45:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY ABOVE 80 KWH, KWH, GLOBAL, 2017 - 2029
  1. Figure 46:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY ABOVE 80 KWH, USD, GLOBAL, 2017 - 2029
  1. Figure 47:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY LESS THAN 15 KWH, KWH, GLOBAL, 2017 - 2029
  1. Figure 48:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY LESS THAN 15 KWH, USD, GLOBAL, 2017 - 2029
  1. Figure 49:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY BATTERY FORM, KWH, GLOBAL, 2017 - 2029
  1. Figure 50:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY BATTERY FORM, USD, GLOBAL, 2017 - 2029
  1. Figure 51:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BATTERY FORM, VOLUME SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 52:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BATTERY FORM, VALUE SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 53:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY CYLINDRICAL, KWH, GLOBAL, 2017 - 2029
  1. Figure 54:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY CYLINDRICAL, USD, GLOBAL, 2017 - 2029
  1. Figure 55:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY POUCH, KWH, GLOBAL, 2017 - 2029
  1. Figure 56:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY POUCH, USD, GLOBAL, 2017 - 2029
  1. Figure 57:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY PRISMATIC, KWH, GLOBAL, 2017 - 2029
  1. Figure 58:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY PRISMATIC, USD, GLOBAL, 2017 - 2029
  1. Figure 59:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY METHOD, KWH, GLOBAL, 2017 - 2029
  1. Figure 60:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY METHOD, USD, GLOBAL, 2017 - 2029
  1. Figure 61:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, METHOD, VOLUME SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 62:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, METHOD, VALUE SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 63:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY LASER, KWH, GLOBAL, 2017 - 2029
  1. Figure 64:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY LASER, USD, GLOBAL, 2017 - 2029
  1. Figure 65:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY WIRE, KWH, GLOBAL, 2017 - 2029
  1. Figure 66:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY WIRE, USD, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY COMPONENT, UNITS, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, COMPONENT, VOLUME SHARE (%), GLOBAL, 2022 & 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, COMPONENT, VALUE SHARE (%), GLOBAL, 2022 & 2029
  1. Figure 71:  
  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY ANODE, UNITS, GLOBAL, 2017 - 2029
  1. Figure 72:  
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY ELECTROLYTE, UNITS, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, MATERIAL TYPE, VOLUME SHARE (%), GLOBAL, 2022 & 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, MATERIAL TYPE, VALUE SHARE (%), GLOBAL, 2022 & 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY COBALT, KG, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY MANGANESE, USD, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NATURAL GRAPHITE, KG, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NICKEL, KG, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY NICKEL, USD, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY OTHER MATERIALS, KG, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY REGION, KWH, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, REGION, VOLUME SHARE (%), GLOBAL, 2022 & 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, REGION, VALUE SHARE (%), GLOBAL, 2022 & 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, COUNTRY, VOLUME SHARE (%), GLOBAL, 2022 & 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY CHINA, KWH, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY CHINA, USD, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY INDIA, KWH, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, COUNTRY, VOLUME SHARE (%), GLOBAL, 2022 & 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY US, USD, GLOBAL, 2017 - 2029
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  2. BREAKDOWN OF ELECTRIC BUS BATTERY PACK MARKET, BY SOUTH AMERICA, USD, GLOBAL, 2017 - 2029
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  2. ELECTRIC BUS BATTERY PACK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2020 - 2022
  1. Figure 148:  
  2. ELECTRIC BUS BATTERY PACK MARKET, MOST ADOPTED STRATEGIES, 2020 - 2022
  1. Figure 149:  
  2. ELECTRIC BUS BATTERY PACK MARKET SHARE(%), BY MAJOR PLAYER REVENUE, 2023

Electric Bus Battery Pack Industry Segmentation

BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.

  • Buses remain a popular mode of transportation globally, but rising environmental concerns and governmental moves to phase out conventional vehicles, like diesel and petrol buses, are fueling the demand for e-buses. However, factors like the COVID-19 pandemic led to a dip in e-bus demand in 2020. As the EV market rebounded, e-bus sales surged by 32% in 2021, propelling battery pack sales up by 30.9% in the same year.
  • The growing demand for electric buses, driven by expanding public transportation services, is spurring the need for diverse battery types in both battery electric and plug-in hybrid buses. Notably, the US witnessed a remarkable 66% surge in transit electric bus sales in 2022 compared to the previous year. States like California are setting ambitious zero-emission targets, aiming to sell only zero-emission buses by 2030. These developments collectively pushed the global demand for bus batteries up by 15% in 2022 over 2021.
  • In April 2023, Lion Electric, a Canada-based battery company, inaugurated a new manufacturing facility dedicated to batteries for medium- and heavy-duty vehicles, including buses. The company was eyeing a production capacity of 1.7 GWh by the close of 2023. Such initiatives, seen not only in Canada but globally, are poised to bolster the demand for electric bus batteries in the coming years.
Propulsion Type BEV
PHEV
Battery Chemistry LFP
NCA
NCM
NMC
Others
Capacity 15 kWh to 40 kWh
40 kWh to 80 kWh
Above 80 kWh
Less than 15 kWh
Battery Form Cylindrical
Pouch
Prismatic
Method Laser
Wire
Component Anode
Cathode
Electrolyte
Separator
Material Type Cobalt
Lithium
Manganese
Natural Graphite
Nickel
Other Materials
Region Asia-Pacific By Country China
India
Japan
South Korea
Thailand
Rest-of-Asia-Pacific
Region Europe By Country France
Germany
Hungary
Italy
Poland
Sweden
UK
Rest-of-Europe
Region Middle East & Africa
North America By Country Canada
US
South America
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Market Definition

  • Battery Chemistry - Various types of battery chemistry considred under this segment include LFP, NCA, NCM, NMC, Others.
  • Battery Form - The types of battery forms offered under this segment include Cylindrical, Pouch and Prismatic.
  • Body Type - Body types considered under this segment include is variety of buses.
  • Capacity - Various types of battery capacities inldude under theis segment are 15 kWH to 40 kWH, 40 kWh to 80 kWh, Above 80 kWh and Less than 15 kWh.
  • Component - Various components covered under this segment include anode, cathode, electrolyte, separator.
  • Material Type - Various material covered under this segment include cobalt, lithium, manganese, natural graphite, nickel, other material.
  • Method - The types of method covered under this segment include laser and wire.
  • Propulsion Type - Propulsion types considered under this segment include BEV (Battery electric vehicles), PHEV (plug-in hybrid electric vehicle).
  • ToC Type - ToC 3
  • Vehicle Type - Vehicle type considered under this segment include commercial vehicles with various EV powertrains.
Keyword Definition
Electric vehicle (EV) A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles.
PEV A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all electric vehicles as well as plug-electric vehicles as well as plug-in hybrids.
Battery-as-a-Service A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge
Battery Cell The basic unit of an electric vehicle's battery pack, typically a lithium-ion cell, that stores electrical energy.
Module A subsection of an EV battery pack, consisting of several cells grouped together, often used to facilitate manufacturing and maintenance.
Battery Management System (BMS) An electronic system that manages a rechargeable battery by protecting the battery from operating outside its safe operating area, monitoring its state, calculating secondary data, reporting data, controlling its environment, and balancing it.
Energy Density A measure of how much energy a battery cell can store in a given volume, usually expressed in watt-hours per liter (Wh/L).
Power Density The rate at which energy can be delivered by the battery, often measured in watts per kilogram (W/kg).
Cycle Life The number of complete charge-discharge cycles a battery can perform before its capacity falls under a specified percentage of its original capacity.
State of Charge (SOC) A measurement, expressed as a percentage, that represents the current level of charge in a battery compared to its capacity.
State of Health (SOH) An indicator of the overall condition of a battery, reflecting its current performance compared to when it was new.
Thermal Management System A system designed to maintain optimal operating temperatures for an EV's battery pack, often using cooling or heating methods.
Fast Charging A method of charging an EV battery at a much faster rate than standard charging, typically requiring specialized charging equipment.
Regenerative Braking A system in electric and hybrid vehicles that recovers energy normally lost during braking and stores it in the battery.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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Electric Bus Battery Pack Market Research FAQs

The Electric Bus Battery Pack Market size is expected to reach USD 4.98 billion in 2024 and grow at a CAGR of 8.28% to reach USD 7.42 billion by 2029.

In 2024, the Electric Bus Battery Pack Market size is expected to reach USD 4.98 billion.

BYD Company Ltd., China Aviation Battery Co. Ltd. (CALB), Contemporary Amperex Technology Co. Ltd. (CATL), Gotion High-Tech Co. Ltd. and Guoxuan High-tech Co. Ltd. are the major companies operating in the Electric Bus Battery Pack Market.

In the Electric Bus Battery Pack Market, the BEV segment accounts for the largest share by propulsion type.

In 2024, Asia-Pacific accounts for the largest share by region in the Electric Bus Battery Pack Market.

In 2023, the Electric Bus Battery Pack Market size was estimated at 4.98 billion. The report covers the Electric Bus Battery Pack Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electric Bus Battery Pack Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Electric Bus Battery Pack Industry Report

Statistics for the 2023 Electric Bus Battery Pack market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electric Bus Battery Pack analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Electric Bus Battery Pack Market Report Snapshots

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