Electric Bus Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 45 Billion |
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Market Size (2030) | USD 136.9 Billion |
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Largest Share by Fuel Category | BEV |
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CAGR (2024 - 2030) | 20.38 % |
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Largest Share by Region | Global |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Electric Bus Market Analysis
The Electric Bus Market size is estimated at 45 billion USD in 2024, and is expected to reach 136.9 billion USD by 2030, growing at a CAGR of 20.38% during the forecast period (2024-2030).
45 Billion
Market Size in 2024 (USD)
136.9 Billion
Market Size in 2030 (USD)
15.16 %
CAGR (2017-2023)
20.38 %
CAGR (2024-2030)
Largest Segment by Fuel Category
91.48 %
value share, BEV, 2023
BEVs dominate due to significant government support, extensive charging infrastructure, and increasing consumer preference for zero-emission public transportation.
Fastest-growing Segment by Fuel Category
30.35 %
Projected CAGR, FCEV, 2024-2030
FCEVs are the fastest-growing due to rapid advancements in hydrogen technology, increased investment in hydrogen infrastructure, and the global push towards zero-emission vehicles.
Largest Segment by Country
66.81 %
value share, China, 2023
China leads the global electric bus market due to its large urban population, significant investment in public transportation, and strong government support for electric vehicle adoption.
Largest Segment by Fuel Category
91.48 %
value share, BEV, 2023
BEVs dominate due to extensive government support, a focus on reducing urban emissions, and the development of comprehensive charging infrastructure worldwide.
Leading Market Player
25.27 %
market share, Zhejiang Geely Holding Group Co. Ltd, 2023
Zhejiang Geely Holding Group Co. Ltd. leads the market with its advanced electric bus technology, extensive manufacturing capacity, and strong commitment to sustainable public transportation solutions globally.
Transitioning to electric buses for public transportation can significantly reduce fuel and maintenance costs and offer public health and environmental benefits
- Fuel constitutes a major part of the operating cost of any vehicle. Using an electric bus for public transport reduces fuel costs, as well as other upfront costs and the total cost of ownership. By 2030, the prices for electric buses are expected to decline to the price level of diesel-fueled buses. Electric buses help reduce 81-83% of the maintenance and operating costs compared to a diesel-engine bus. The rising general awareness about air pollution, climate change, and increasing diesel prices are some of the factors incentivizing most state and city transport authorities to increasingly accommodate clean public transport solutions in their regional development plans.
- The e-bus market holds promise in addressing gaps in public transportation. With potential reductions in operational and maintenance expenses, as well as hidden costs tied to public health and the environment, widespread electrification of public buses stands to deliver significant benefits. This shift could foster a more equitable balance of returns between service providers and users in the long term. Bolstered by robust government support for electric vehicle (EV) adoption, public transport authorities and e-bus suppliers are poised to drive market growth, aided by well-defined regulations and market mechanisms.
- The e-bus ecosystem is being implemented in accordance with established government guidelines. However, there is an immediate challenge in setting up and managing e-bus charging stations in terms of planning, the extent of stakeholders' responsibilities, and operation, which must be addressed as a high priority to expedite the development of the e-bus ecosystem across the world.
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The global demand for electric buses is experiencing significant growth due to environmental concerns, rising fuel costs, and stringent green vehicle regulations
- The global demand for electric buses has witnessed a significant surge in recent years. This uptick can be attributed to mounting environmental concerns stemming from carbon emissions, escalating fuel costs, the burden of high operational expenses, and the imposition of stringent green vehicle regulations by governments worldwide. Consequently, the global demand for electric buses saw a notable increase in 2022 compared to 2021.
- Public transit agencies in several nations are actively championing the adoption of electric buses. For instance, the Bangalore Metropolitan Transport Corporation (BMTC), India's largest public transit bus operator, has unveiled ambitious plans for battery electric buses. It has committed to procuring up to 1,800 electric buses in the coming years, while the Karnataka state government aims to transition BMTC's entire fleet of 6,500 buses to zero-emission vehicles by 2030. Such initiatives are poised to bolster the global demand and sales of electric buses.
- Government bodies worldwide are increasingly embracing electric buses. In the United States, the trend is evident as more cities and universities are incorporating electric bus fleets. Notably, California emerged as a frontrunner in this transition, introducing the Innovative Clean Transit Rule (ICTR). This rule mandates that 25% of new bus purchases be zero-emission buses, with a subsequent target of 100% zero-emission orders from California transport agencies by 2029. California aims to electrify its entire fleet of 12,000 city buses by 2040. Similar endeavors in other nations are poised to fuel the demand for electric buses from 2024 to 2030.
Global Electric Bus Market Trends
The rising global demand and government support propel electric vehicle market growth
- Electric vehicles (EVs) have become indispensable in the automotive sector, driven by their potential to enhance energy efficiency and reduce greenhouse gas and pollution emissions. This surge is primarily attributed to growing environmental concerns and supportive government initiatives. Notably, global EV sales witnessed a robust 10.82% growth in 2022 compared to 2021. Projections indicate that annual sales of electric passenger cars will surpass 5 million by the end of 2025, accounting for approximately 15% of total vehicle sales.
- Leading manufacturers and organizations, like the London Metropolitan Police & Fire Service, have been actively pursuing their electric mobility strategies. For instance, they have set a target of a zero-emission fleet by 2025, with a goal of electrifying 40% of their vans by 2030 and achieving full electrification by 2040. Similar trends are expected globally, with the period from 2024 to 2030 witnessing a surge in demand and sales of electric vehicles.
- Asia-Pacific and Europe are poised to dominate electric vehicle production, driven by their advancements in battery technology and vehicle electrification. In a notable move, in May 2020, Kia Motors Europe unveiled its "Plan S," signaling a strategic shift toward electrification. This decision came on the heels of record-breaking sales of Kia's EVs in Europe. Kia has ambitious plans to introduce 11 EV models globally by 2025, spanning various segments like passenger vehicles, SUVs, and MPVs. The company aims to achieve annual global EV sales of 500,000 by 2026.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Africa's demographic evolution demonstrates consistent growth with a notable acceleration in recent years
- Several European countries face population declines, while others grow, indicating a need for targeted policy interventions
- North America's demographic story highlights steady growth and adaptability, with each nation contributing uniquely to the region's vibrant mosaic, underlining North America's continued global significance
- Despite a GDP per capita decline in 2022-2023, Africa shows potential for future economic stability through trade agreements and infrastructure development
- Europe's GDP per capita is on track for steady growth, reflecting resilience and strategic policies
- Despite challenges in 2020, by 2023, the US experienced growth, Mexico displayed a robust recovery, while Canada witnessed a dip
- South Africa's consumer vehicle population shows signs of stabilization
- European countries are experiencing growth in CVP, driven by government incentives for environmentally friendly vehicles
- North America exhibits diverse trends in consumer spending for vehicle purchases (CVP), and Canada experiences a slight decrease, while the US sees an increase, and Mexico shows significant growth
- South Africa, Kenya, and Morocco exhibit declining inflation rates, while Nigeria faces a sharp inflation increase
- The European region is poised for economic stability, with concerted efforts to manage inflation and foster a balanced economic landscape
- From 2017 to 2030, North America, particularly countries like the US and Canada, navigated inflationary spikes, especially post-pandemic in 2022, but projections suggest a trend toward economic stability and controlled inflation for the region by 2030
- Auto interest rates across Africa, Asia-Pacific, and North America showed significant regional diversity, influenced by a combination of economic policies, market dynamics, and global conditions
- The global MaaS market is growing significantly growth trajectory, indicating sustained expansion across all regions
- Battery pack prices in Africa continued to decline from USD 186 in 2022 to USD 176 in 2023, driven by technological advancements and increased market competition
- Declining battery prices and government initiatives drive demand for electric vehicles in Europe
- Declining prices of lithium-ion batteries drive the demand for electric vehicles in North America
- The global automotive industry will undergo a transformative phase, with a pronounced shift toward electrification from 2023 to 2025, followed by a period of refinement and consolidation in the subsequent years
- The auto industry's production landscape is witnessing a dramatic shift, with electric vehicle manufacturers like BYD Auto and Tesla seeing remarkable growth while traditional giants like GM adapt to changing market demands
- Countries like Australia, India, and Indonesia project a steady upward trajectory in GDP per capita, suggesting robust economic strategies and potential investment in the automotive sectors
- Saudi Arabia and the United Arab Emirates, both pivotal nations in the Middle East, demonstrated population growth from 2017 to 2023. While there were slight dips for both countries in between, the overarching upward trend indicates their significant roles and attractions in the region
- South America's demographic narrative, represented by Brazil and Colombia, showcases a story of consistent growth, with Brazil experiencing a pronounced surge
- Asia-Pacific displays a panorama of economic evolution: from the relentless pursuits of emerging economies to the recalibrations of established ones, painting a picture of resilience, adaptation, and ambition
- Projections for the coming years indicate a steady growth trajectory for both the UAE's diversified sectors and its role as a regional business hub. This growth can be attributed to the country's focus on diversification efforts and strategic partnerships
- During 2017-2030, Brazil and Colombia displayed contrasting economic paths. While both faced downturns around 2020, Brazil's GDP per capita showed recovery by 2023, whereas Colombia witnessed a slight decline
- The Asia-Pacific's diverse consumer spending trends on vehicle purchases not only reflect the region's evolving economic conditions but also highlight the shifting consumer preferences and vehicular market dynamics across countries
- In the short term (2022-2023), Saudi Arabia maintained stable consumer spending for vehicle purchases, while the UAE experienced a slight decline, suggesting differing market dynamics
- Brazil and Colombia are expected to see an increase in consumer spending for vehicle purchases (CVP), indicating a recovering automotive market and growing consumer confidence
- Asia-Pacific’s varied inflation rates reflect the diverse economic challenges and responses of each nation, from battling pandemic-induced fluctuations to aiming for future stability through strategic economic policies
- From 2017 to 2030, the Middle East is expected to display varied inflationary patterns, with countries like Iran facing significant challenges, while others like Saudi Arabia and the UAE will show stability
- Projections indicate a trend toward economic stabilization and controlled inflation in the region, highlighting a concerted push to restore equilibrium and foster growth
- The global MaaS market is growing significantly growth trajectory, indicating sustained expansion across all regions
- Global efforts to expand and enhance EV infrastructure are signaling a collective push toward electrification
- The demand for EVs in the Asia-Pacific region is fueled by falling battery prices
- The Middle East's battery market: A continuous descent in prices and promising energy trends
- South America’s surging demand for electric vehicle batteries: falling costs and strategic alliances
- For over a year, Russia's invasion of Ukraine disrupted global crude oil and petroleum product markets
Electric Bus Industry Overview
The Electric Bus Market is moderately consolidated, with the top five companies occupying 48.55%. The major players in this market are Chery Automobile Co. Ltd., Chongqing Changan Automobile Company Limited, Daimler Truck Holding AG, Volvo Group and Zhejiang Geely Holding Group Co. Ltd (sorted alphabetically).
Electric Bus Market Leaders
Chery Automobile Co. Ltd.
Chongqing Changan Automobile Company Limited
Daimler Truck Holding AG
Volvo Group
Zhejiang Geely Holding Group Co. Ltd
Other important companies include Anhui Ankai Automobile Co. Ltd., Ashok Leyland Limited, Byd Auto Industry Company Limited, CRRC Electric Vehicle Co. Ltd., King Long United Automotive Industry Co. Ltd., NFI Group Inc., Proterra INC., Tata Motors Limited, Zhengzhou Yutong Bus Co. Ltd., Zhongtong Bus Holding Co. Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
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Electric Bus Market News
- December 2023: Proterra announced its new EV battery factory in South Carolina as demand for commercial electric vehicles increased.
- November 2023: Switch Mobilty partners with JSW for electric buses for employee transportation in India.
- September 2023: Daimler Buses launched the next generation Setra TopClass and ComfortClass touring coaches that meet the highest standards of safety, economy, and flexibility.
Free with this Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
Electric Bus 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
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4.1 Population
- 4.1.1 Africa
- 4.1.2 Asia-Pacific
- 4.1.3 Europe
- 4.1.4 Middle East
- 4.1.5 North America
- 4.1.6 South America
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4.2 GDP Per Capita
- 4.2.1 Africa
- 4.2.2 Asia-Pacific
- 4.2.3 Europe
- 4.2.4 Middle East
- 4.2.5 North America
- 4.2.6 South America
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4.3 Consumer Spending For Vehicle Purchase (cvp)
- 4.3.1 Africa
- 4.3.2 Asia-Pacific
- 4.3.3 Europe
- 4.3.4 Middle East
- 4.3.5 North America
- 4.3.6 South America
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4.4 Inflation
- 4.4.1 Africa
- 4.4.2 Asia-Pacific
- 4.4.3 Europe
- 4.4.4 Middle East
- 4.4.5 North America
- 4.4.6 South America
- 4.5 Interest Rate For Auto Loans
- 4.6 Shared Rides
- 4.7 Shared Rides
- 4.8 Impact Of Electrification
- 4.9 EV Charging Station
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4.10 Battery Pack Price
- 4.10.1 Africa
- 4.10.2 Asia-Pacific
- 4.10.3 Europe
- 4.10.4 Middle East
- 4.10.5 North America
- 4.10.6 South America
- 4.11 New Xev Models Announced
- 4.12 Fuel Price
- 4.13 Oem-wise Production Statistics
- 4.14 Regulatory Framework
- 4.15 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Fuel Category
- 5.1.1 BEV
- 5.1.2 FCEV
- 5.1.3 HEV
- 5.1.4 PHEV
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5.2 Region
- 5.2.1 Africa
- 5.2.1.1 South Africa
- 5.2.2 Asia-Pacific
- 5.2.2.1 China
- 5.2.2.2 India
- 5.2.2.3 Japan
- 5.2.2.4 South Korea
- 5.2.3 Europe
- 5.2.3.1 France
- 5.2.3.2 Germany
- 5.2.3.3 Italy
- 5.2.3.4 Spain
- 5.2.3.5 UK
- 5.2.3.6 Rest-of-Europe
- 5.2.4 Middle East
- 5.2.4.1 UAE
- 5.2.4.2 Rest-of-Middle East
- 5.2.5 North America
- 5.2.5.1 Canada
- 5.2.5.2 Mexico
- 5.2.5.3 US
- 5.2.6 South America
- 5.2.6.1 Argentina
- 5.2.6.2 Brazil
- 5.2.6.3 Rest-of-South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Anhui Ankai Automobile Co. Ltd.
- 6.4.2 Ashok Leyland Limited
- 6.4.3 Byd Auto Industry Company Limited
- 6.4.4 Chery Automobile Co. Ltd.
- 6.4.5 Chongqing Changan Automobile Company Limited
- 6.4.6 CRRC Electric Vehicle Co. Ltd.
- 6.4.7 Daimler Truck Holding AG
- 6.4.8 King Long United Automotive Industry Co. Ltd.
- 6.4.9 NFI Group Inc.
- 6.4.10 Proterra INC.
- 6.4.11 Tata Motors Limited
- 6.4.12 Volvo Group
- 6.4.13 Zhejiang Geely Holding Group Co. Ltd
- 6.4.14 Zhengzhou Yutong Bus Co. Ltd.
- 6.4.15 Zhongtong Bus Holding Co. Ltd.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
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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
List of Tables & Figures
- Figure 1:
- GLOBAL ELECTRIC BUS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 2:
- GLOBAL ELECTRIC BUS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 3:
- GLOBAL ELECTRIC BUS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 4:
- GLOBAL ELECTRIC BUS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 5:
- GLOBAL ELECTRIC BUS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 6:
- GLOBAL ELECTRIC BUS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 7:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 8:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 9:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 10:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 11:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 12:
- SOUTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 13:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 14:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 15:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 16:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 17:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 18:
- SOUTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 19:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 20:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 21:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 22:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 23:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 24:
- GLOBAL ELECTRIC BUS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENTAGE, 2017 - 2022
- Figure 25:
- GLOBAL MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 26:
- GLOBAL MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 27:
- AFRICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 28:
- ASIA-PACIFIC MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 29:
- EUROPE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 30:
- MIDDLE EAST MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 31:
- NORTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 32:
- SOUTH AMERICA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 33:
- GLOBAL ELECTRIC BUS MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
- Figure 34:
- GLOBAL MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 35:
- GLOBAL ELECTRIC BUS MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 36:
- GLOBAL ELECTRIC BUS MARKET, VALUE IN USD, 2017 - 2030
- Figure 37:
- GLOBAL ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 38:
- GLOBAL ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 39:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 40:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 41:
- GLOBAL ELECTRIC BUS MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 42:
- GLOBAL ELECTRIC BUS MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 43:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 44:
- GLOBAL ELECTRIC BUS MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 45:
- GLOBAL ELECTRIC BUS MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 46:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 47:
- GLOBAL ELECTRIC BUS MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 48:
- GLOBAL ELECTRIC BUS MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 49:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 50:
- GLOBAL ELECTRIC BUS MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 51:
- GLOBAL ELECTRIC BUS MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 52:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 53:
- GLOBAL ELECTRIC BUS MARKET, BY REGION, BY VOLUME IN UNITS, 2017 - 2030
- Figure 54:
- GLOBAL ELECTRIC BUS MARKET, BY REGION, BY VALUE IN USD, 2017 - 2030
- Figure 55:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 56:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY REGION, 2017 - 2030
- Figure 57:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 58:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 59:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 60:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 61:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH AFRICA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 62:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH AFRICA, BY VALUE IN USD, 2017 - 2030
- Figure 63:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 64:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-AFRICA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 65:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-AFRICA, BY VALUE IN USD, 2017 - 2030
- Figure 66:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 67:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 68:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 69:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 70:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 71:
- GLOBAL ELECTRIC BUS MARKET, BY AUSTRALIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 72:
- GLOBAL ELECTRIC BUS MARKET, BY AUSTRALIA, BY VALUE IN USD, 2017 - 2030
- Figure 73:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 74:
- GLOBAL ELECTRIC BUS MARKET, BY CHINA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 75:
- GLOBAL ELECTRIC BUS MARKET, BY CHINA, BY VALUE IN USD, 2017 - 2030
- Figure 76:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 77:
- GLOBAL ELECTRIC BUS MARKET, BY INDIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 78:
- GLOBAL ELECTRIC BUS MARKET, BY INDIA, BY VALUE IN USD, 2017 - 2030
- Figure 79:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 80:
- GLOBAL ELECTRIC BUS MARKET, BY INDONESIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 81:
- GLOBAL ELECTRIC BUS MARKET, BY INDONESIA, BY VALUE IN USD, 2017 - 2030
- Figure 82:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 83:
- GLOBAL ELECTRIC BUS MARKET, BY JAPAN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 84:
- GLOBAL ELECTRIC BUS MARKET, BY JAPAN, BY VALUE IN USD, 2017 - 2030
- Figure 85:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 86:
- GLOBAL ELECTRIC BUS MARKET, BY MALAYSIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 87:
- GLOBAL ELECTRIC BUS MARKET, BY MALAYSIA, BY VALUE IN USD, 2017 - 2030
- Figure 88:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 89:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 90:
- GLOBAL ELECTRIC BUS MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2017 - 2030
- Figure 91:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 92:
- GLOBAL ELECTRIC BUS MARKET, BY THAILAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 93:
- GLOBAL ELECTRIC BUS MARKET, BY THAILAND, BY VALUE IN USD, 2017 - 2030
- Figure 94:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 95:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-APAC, BY VOLUME IN UNITS, 2017 - 2030
- Figure 96:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-APAC, BY VALUE IN USD, 2017 - 2030
- Figure 97:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 98:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 99:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 100:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 101:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 102:
- GLOBAL ELECTRIC BUS MARKET, BY AUSTRIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 103:
- GLOBAL ELECTRIC BUS MARKET, BY AUSTRIA, BY VALUE IN USD, 2017 - 2030
- Figure 104:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 105:
- GLOBAL ELECTRIC BUS MARKET, BY BELGIUM, BY VOLUME IN UNITS, 2017 - 2030
- Figure 106:
- GLOBAL ELECTRIC BUS MARKET, BY BELGIUM, BY VALUE IN USD, 2017 - 2030
- Figure 107:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 108:
- GLOBAL ELECTRIC BUS MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2017 - 2030
- Figure 109:
- GLOBAL ELECTRIC BUS MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2017 - 2030
- Figure 110:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 111:
- GLOBAL ELECTRIC BUS MARKET, BY DENMARK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 112:
- GLOBAL ELECTRIC BUS MARKET, BY DENMARK, BY VALUE IN USD, 2017 - 2030
- Figure 113:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 114:
- GLOBAL ELECTRIC BUS MARKET, BY ESTONIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 115:
- GLOBAL ELECTRIC BUS MARKET, BY ESTONIA, BY VALUE IN USD, 2017 - 2030
- Figure 116:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 117:
- GLOBAL ELECTRIC BUS MARKET, BY FRANCE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 118:
- GLOBAL ELECTRIC BUS MARKET, BY FRANCE, BY VALUE IN USD, 2017 - 2030
- Figure 119:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 120:
- GLOBAL ELECTRIC BUS MARKET, BY GERMANY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 121:
- GLOBAL ELECTRIC BUS MARKET, BY GERMANY, BY VALUE IN USD, 2017 - 2030
- Figure 122:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 123:
- GLOBAL ELECTRIC BUS MARKET, BY IRELAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 124:
- GLOBAL ELECTRIC BUS MARKET, BY IRELAND, BY VALUE IN USD, 2017 - 2030
- Figure 125:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 126:
- GLOBAL ELECTRIC BUS MARKET, BY ITALY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 127:
- GLOBAL ELECTRIC BUS MARKET, BY ITALY, BY VALUE IN USD, 2017 - 2030
- Figure 128:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 129:
- GLOBAL ELECTRIC BUS MARKET, BY LATVIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 130:
- GLOBAL ELECTRIC BUS MARKET, BY LATVIA, BY VALUE IN USD, 2017 - 2030
- Figure 131:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 132:
- GLOBAL ELECTRIC BUS MARKET, BY LITHUANIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 133:
- GLOBAL ELECTRIC BUS MARKET, BY LITHUANIA, BY VALUE IN USD, 2017 - 2030
- Figure 134:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 135:
- GLOBAL ELECTRIC BUS MARKET, BY NORWAY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 136:
- GLOBAL ELECTRIC BUS MARKET, BY NORWAY, BY VALUE IN USD, 2017 - 2030
- Figure 137:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 138:
- GLOBAL ELECTRIC BUS MARKET, BY POLAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 139:
- GLOBAL ELECTRIC BUS MARKET, BY POLAND, BY VALUE IN USD, 2017 - 2030
- Figure 140:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 141:
- GLOBAL ELECTRIC BUS MARKET, BY RUSSIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 142:
- GLOBAL ELECTRIC BUS MARKET, BY RUSSIA, BY VALUE IN USD, 2017 - 2030
- Figure 143:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 144:
- GLOBAL ELECTRIC BUS MARKET, BY SPAIN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 145:
- GLOBAL ELECTRIC BUS MARKET, BY SPAIN, BY VALUE IN USD, 2017 - 2030
- Figure 146:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 147:
- GLOBAL ELECTRIC BUS MARKET, BY SWEDEN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 148:
- GLOBAL ELECTRIC BUS MARKET, BY SWEDEN, BY VALUE IN USD, 2017 - 2030
- Figure 149:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 150:
- GLOBAL ELECTRIC BUS MARKET, BY UK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 151:
- GLOBAL ELECTRIC BUS MARKET, BY UK, BY VALUE IN USD, 2017 - 2030
- Figure 152:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 153:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 154:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2017 - 2030
- Figure 155:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 156:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 157:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 158:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 159:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 160:
- GLOBAL ELECTRIC BUS MARKET, BY SAUDI ARABIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 161:
- GLOBAL ELECTRIC BUS MARKET, BY SAUDI ARABIA, BY VALUE IN USD, 2017 - 2030
- Figure 162:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 163:
- GLOBAL ELECTRIC BUS MARKET, BY UAE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 164:
- GLOBAL ELECTRIC BUS MARKET, BY UAE, BY VALUE IN USD, 2017 - 2030
- Figure 165:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 166:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-MIDDLE EAST, BY VOLUME IN UNITS, 2017 - 2030
- Figure 167:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-MIDDLE EAST, BY VALUE IN USD, 2017 - 2030
- Figure 168:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 169:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 170:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 171:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 172:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 173:
- GLOBAL ELECTRIC BUS MARKET, BY CANADA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 174:
- GLOBAL ELECTRIC BUS MARKET, BY CANADA, BY VALUE IN USD, 2017 - 2030
- Figure 175:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 176:
- GLOBAL ELECTRIC BUS MARKET, BY MEXICO, BY VOLUME IN UNITS, 2017 - 2030
- Figure 177:
- GLOBAL ELECTRIC BUS MARKET, BY MEXICO, BY VALUE IN USD, 2017 - 2030
- Figure 178:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 179:
- GLOBAL ELECTRIC BUS MARKET, BY US, BY VOLUME IN UNITS, 2017 - 2030
- Figure 180:
- GLOBAL ELECTRIC BUS MARKET, BY US, BY VALUE IN USD, 2017 - 2030
- Figure 181:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 182:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 183:
- GLOBAL ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 184:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 185:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 186:
- GLOBAL ELECTRIC BUS MARKET, BY ARGENTINA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 187:
- GLOBAL ELECTRIC BUS MARKET, BY ARGENTINA, BY VALUE IN USD, 2017 - 2030
- Figure 188:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 189:
- GLOBAL ELECTRIC BUS MARKET, BY BRAZIL, BY VOLUME IN UNITS, 2017 - 2030
- Figure 190:
- GLOBAL ELECTRIC BUS MARKET, BY BRAZIL, BY VALUE IN USD, 2017 - 2030
- Figure 191:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 192:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-SOUTH AMERICA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 193:
- GLOBAL ELECTRIC BUS MARKET, BY REST-OF-SOUTH AMERICA, BY VALUE IN USD, 2017 - 2030
- Figure 194:
- GLOBAL ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 195:
- GLOBAL ELECTRIC BUS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 196:
- GLOBAL ELECTRIC BUS MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 197:
- GLOBAL ELECTRIC BUS MARKET SHARE(%), BY MAJOR PLAYERS, 2021
Electric Bus Industry Segmentation
BEV, FCEV, HEV, PHEV are covered as segments by Fuel Category. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.
- Fuel constitutes a major part of the operating cost of any vehicle. Using an electric bus for public transport reduces fuel costs, as well as other upfront costs and the total cost of ownership. By 2030, the prices for electric buses are expected to decline to the price level of diesel-fueled buses. Electric buses help reduce 81-83% of the maintenance and operating costs compared to a diesel-engine bus. The rising general awareness about air pollution, climate change, and increasing diesel prices are some of the factors incentivizing most state and city transport authorities to increasingly accommodate clean public transport solutions in their regional development plans.
- The e-bus market holds promise in addressing gaps in public transportation. With potential reductions in operational and maintenance expenses, as well as hidden costs tied to public health and the environment, widespread electrification of public buses stands to deliver significant benefits. This shift could foster a more equitable balance of returns between service providers and users in the long term. Bolstered by robust government support for electric vehicle (EV) adoption, public transport authorities and e-bus suppliers are poised to drive market growth, aided by well-defined regulations and market mechanisms.
- The e-bus ecosystem is being implemented in accordance with established government guidelines. However, there is an immediate challenge in setting up and managing e-bus charging stations in terms of planning, the extent of stakeholders' responsibilities, and operation, which must be addressed as a high priority to expedite the development of the e-bus ecosystem across the world.
| Fuel Category | BEV | |
| FCEV | ||
| HEV | ||
| PHEV | ||
| Region | Africa | South Africa |
| Region | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Region | Europe | France |
| Germany | ||
| Italy | ||
| Spain | ||
| UK | ||
| Rest-of-Europe | ||
| Region | Middle East | UAE |
| Rest-of-Middle East | ||
| Region | North America | Canada |
| Mexico | ||
| US | ||
| Region | South America | Argentina |
| Brazil | ||
| Rest-of-South America |
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Market Definition
- Vehicle Type - The category includes Medium and Heavy Duty Buses.
- Vehicle Body Type - This include Bus category.
- Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
| 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. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| 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-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
| Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
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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 sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- 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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