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Electric Bus Market by Application, Type, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 161
  • SKU: IRTNTR70842
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The electric bus market is estimated to grow at a CAGR of 9.23% between 2022 and 2027. The size of the market is forecast to increase by 61.03 thousand units. The growth of the market depends on several factors, including the reduction in battery prices, the technological improvements to reduce downtime, and the government initiatives promoting electric buses.

This report extensively covers market segmentation by application (intercity and intra city), type (pure electric bus| and plug-in hybrid bus), and geography (APAC, Europe, North America, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

 What will the Size of the Electric Bus Market be During the Forecast Period?

Electric Bus Market Size

Download the Report Sample to Unlock Statistics About the Electric Bus Market During the Forecast Period

Parent Market Analysis

Technavio categorizes the global electric bus market as a part of the global automotive market under the global automobiles and components industry. The parent market, the global automotive market, covers companies engaged in the production of vehicles such as passenger cars, commercial vehicles, and all-terrain vehicles. It does not include manufacturers of motorcycles, scooters, e-bikes, trikes, and three-wheelers. Technavio calculates the global automotive market size based on the combined revenue generated by the manufacturers of automobiles such as passenger cars, commercial vehicles, and all-terrain vehicles. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Electric Bus Market: Key Drivers, Trends, Challenges, and Customer Landscape

The reduction in battery prices is notably driving the electric bus market growth, although factors such as the declining number of public transport users may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.   

Key Electric Bus Market Driver

The reduction in battery prices is the key factor driving the global electric bus market growth. Battery prices account for a significant share of the total cost of production of electric buses. The need for improvements in efficiency has encouraged battery manufacturers to come up with technological advancements in electric bus batteries. For instance, advancements in Li-ion batteries have not only reduced the overall weight of electric buses but also increased their lifespan when compared to buses that use conventional lead-acid and valve-regulated lead acid (VRLA) batteries. The initial cost of an electric bus is higher than that of a conventional bus. An average electric bus can cost 30%-35% more than an average conventional bus. Any change in the battery prices can lead to a huge difference in the total cost of an electric bus. Therefore, the continuous decline in battery prices, which is a result of battery manufacturers achieving economies of scale, will reduce the overall price of electric buses, which, in turn, will drive the growth of the global electric bus market during the forecast period.

Key Electric Bus Market Trend

The increasing popularity of wireless charging systems will fuel the global electric bus market growth. The high power levels required for charging electric buses can be provided by inductive wireless technology, which increases the convenience for electric bus operators. The US Department of Energy's Oak Ridge National Laboratory (ORNL) has developed a 20-kW inductive wireless charging system for electric vehicles. The demonstration and testing were done using an electric Toyota RAV4, which was equipped with an extra 10-kWh battery. The inductive wireless charging system resulted in 90% efficiency and was found to be three times better than plug-in systems. This improved performance has led to the introduction of wireless chargers with a 50-kW power capacity, which match the quick plug-in chargers that are commercially available in the market. These high-power inductive wireless charging systems are essential for charging large vehicles like electric buses. Such factors will drive market growth during the forecast period.

Key Electric Bus Market Challenge

The declining number of public transport users is a major challenge to the global electric bus market growth. The increasing preference for personal vehicles is limiting the demand for public transportation. As a result, transport authorities are reluctant to replace their existing conventional bus fleets with expensive electric buses. This is a hindrance to the growth of the global electric bus market. The increasing production of passenger cars in line with the increasing demand for them is posing a major challenge to the penetration of electric buses in many regions. The demand for public transportation services is decreasing with the growing demand for passenger cars. Major car brands have expanded their car offerings to budget car brands and mini car brands to suit the needs of customers belonging to multiple income categories. Due to the increasing affordability of private cars and the comfort of personal vehicles, many people are shifting toward personal modes of transport. Additionally, the increasing popularity of personalized taxis, car rental, and car leasing services are also posing a challenge to the global electric bus market. Such factors are expected to hamper the growth of the global electric bus market during the forecast period.

Key Electric Bus Market Customer Landscape

Our analysis of the Life Cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, Canada, China, India, Germany, and the UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.

Electric Bus Market Share by Geography

Global Electric Bus Market Customer Landscape

Who are the Major Electric Bus Market Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product / service launches, to enhance their presence in the market

volvogroup.com - The company offers electric buses that are equipped with full load-carrying electric bus chassis, high-energy-density batteries, an efficient energy-saving motor, an integrated intelligent electronic control system, an auxiliary system controller, a power steering pump, and an energy-saving electric air-conditioning system.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :

  • BKM.BY
  • Bollore SE
  • BYD Co. Ltd.
  • CNH Industrial NV
  • Complete Coach Works
  • Eletra
  • GreenPower Motor Co. Inc.
  • Jiangsu Alfa Bus Co. Ltd.
  • Linkker Oy
  • Mercedes Benz Group AG
  • NFI Group Inc.
  • POL-MOT Holding SA
  • Proterra Inc.
  • Tata Sons Pvt. Ltd.
  • TECNOBUS Spa
  • VDL Bus & Coach BV
  • Xiamen King Long United Automotive Industry Co. Ltd.
  • Yinlong Energy China Ltd.
  • Zhongtong Bus Holding Co. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Electric Bus Market?

The market share growth by the intercity segment will be significant during the forecast period. The intercity segment in the global electric bus market is expected to witness significant growth in terms of CAGR when compared to the intracity segment.

Electric Bus Market Size

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The Intercity segment showed a gradual increase in market share with 33.25 thousand units in 2017 and continued to grow by 2021. In India, the Government of India is encouraging the use of electric vehicles with the objective of replacing internal combustion engine (ICE) vehicles by 2030. The plan focuses on building infrastructure for electric vehicles, including electric buses, across Tier-1 and Tier-2 cities. Various electric bus charging system manufacturers are planning to start business operations within India due to the growth opportunities presented by the rising electric bus market in the country. For instance, ABB placed a bid in 2017 to produce about 4,500 electric vehicle charging stations in India by 2030.  Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.

The growth of this segment is primarily attributed to the increasing adoption of  Electric Buses, which is driven by an increase in the global demand for the Electric Bus Industry.

Which are the Key Regions for Electric Bus Market?

Electric Bus Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

Asia is projected to contribute 92% of market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The demand for electric buses in China is expected to grow steadily owing to the rising need for public transportation such as the bus rapid transit (BRT) system in metro cities. High awareness about the benefits of electric vehicles among consumers is leading to the rapid shift from traditional diesel buses to electric buses. This is a crucial driver for the electric bus market in China. Every city that has a transit system operates buses, and bus services are easy to introduce and modify. With the rising focus on reducing traffic congestion and vehicle emissions, authorities in China are pushing for the adoption of public transportation over private transportation, which accounts for higher adoption among all modes. There has been growing adoption of electric school buses in China to reduce the carbon footprint. Therefore, players have been launching electric school buses with new features. 

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 led to a decline in demand for electric buses in Asia. In 2020, the COVID-19 pandemic adversely impacted the public transport industry in Asia. The imposition of stringent lockdowns and social distancing regulations compelled people to avoid public transport systems, including buses. Furthermore, with transportation activities coming to a total halt due to the lockdown restrictions and increased oil prices, various bus service providers in countries such as India faced huge losses. According to an earlier estimate provided by the Centre for Science and Environment, 34% of commuters were not able to afford the basic minimum fare of a non-air-conditioned bus in India in 2020. In Q2 2021, the second wave of COVID-19 again led to statewide lockdowns in countries such as India, which hindered the use of public transport and, in turn, hampered the growth of the regional electric bus market. However, the declining number of COVID-19 cases, the increasing vaccination rates, and the lifting of government lockdowns are anticipated to positively impact the growth of the regional market during the forecast period.

You may be interested in the regional reports:

China Electric Bus market - The market share will register a CAGR of close to 11% by 2022. 

Segment Overview

Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application, type, and region.

  • Application Outlook (Thousand Units, 2017 - 2027)
    • Intercity
    • Intra city 
  • Type Outlook (Thousand Units, 2017 - 2027)
    • Pure electric bus
    • Plug-in hybrid bus
  • Region Outlook (Thousand Units, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia
      • China
      • India
    • ROW
      • Australia
      • Argentina
      • Rest of the world

Electric Bus Market Scope

Report Coverage

Details

Page number

161

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.23%

Market growth 2023-2027

61.03 thousand units

Market structure

Fragmented

YoY growth (%)

8.87

Regional analysis

Asia, Europe, North America, and the Rest of the World (ROW)

Performing market contribution

Asia at 92%

Key consumer countries

US, Canada, China, India, Germany, and UK

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

AB Volvo, BKM.BY, Bollore SE, BYD Co. Ltd., CNH Industrial NV, Complete Coach Works, Eletra, GreenPower Motor Co. Inc., Jiangsu Alfa Bus Co. Ltd., Linkker Oy, Mercedes Benz Group AG, NFI Group Inc., POL-MOT Holding SA, Proterra Inc., Tata Sons Pvt. Ltd., TECNOBUS Spa, VDL Bus & Coach BV, Xiamen King Long United Automotive Industry Co. Ltd., Yinlong Energy China Ltd., and Zhongtong Bus Holding Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Electric Bus Market Report?

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive the growth of the electric bus market between 2023 and 2027
  • Precise estimation of the size of the electric bus market and its contribution to the parent market.
  • Accurate predictions about  upcoming trends and changes in consumer behavior
  • Growth of the electric bus market industry across Asia, Europe, North America, and the Rest of the World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive details of factors that will challenge the growth of electric bus market vendors

 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global electric bus market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global electric bus market 2017 - 2021 (thousand units)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 (thousand units)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 (thousand units)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (thousand units)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand units)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Intercity - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Intercity - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 35: Data Table on Intercity - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 36: Chart on Intercity - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Intercity - Year-over-year growth 2022-2027 (%)
    • 6.4 Intra city - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Intra city - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 39: Data Table on Intra city - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 40: Chart on Intra city - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Intra city - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Application
      • Exhibit 42: Market opportunity by Application (thousand units)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 43: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 45: Chart on Comparison by Type
      • Exhibit 46: Data Table on Comparison by Type
    • 7.3 Pure electric bus - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Pure electric bus - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 48: Data Table on Pure electric bus - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 49: Chart on Pure electric bus - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Pure electric bus - Year-over-year growth 2022-2027 (%)
    • 7.4 Plug-in hybrid bus - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Plug-in hybrid bus - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 52: Data Table on Plug-in hybrid bus - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 53: Chart on Plug-in hybrid bus - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Plug-in hybrid bus - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Type
      • Exhibit 55: Market opportunity by Type (thousand units)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 59: Chart on Geographic comparison
      • Exhibit 60: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 69: Chart on North America - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 74: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 75: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
    • 9.7 China - Market size and forecast 2022-2027
      • Exhibit 77: Chart on China - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 78: Data Table on China - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 79: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.8 India - Market size and forecast 2022-2027
      • Exhibit 81: Chart on India - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 82: Data Table on India - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 83: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 UK - Market size and forecast 2022-2027
      • Exhibit 93: Chart on UK - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.12 Canada - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 101: Market opportunity by geography (thousand units)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 104: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 105: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 106: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 107: Matrix on vendor position and classification
            • 12.3 AB Volvo
              • Exhibit 108: AB Volvo - Overview
              • Exhibit 109: AB Volvo - Business segments
              • Exhibit 110: AB Volvo - Key offerings
              • Exhibit 111: AB Volvo - Segment focus
            • 12.4 BKM.BY
              • Exhibit 112: BKM.BY - Overview
              • Exhibit 113: BKM.BY - Product / Service
              • Exhibit 114: BKM.BY - Key offerings
            • 12.5 Bollore SE
              • Exhibit 115: Bollore SE - Overview
              • Exhibit 116: Bollore SE - Business segments
              • Exhibit 117: Bollore SE - Key offerings
              • Exhibit 118: Bollore SE - Segment focus
            • 12.6 BYD Co. Ltd.
              • Exhibit 119: BYD Co. Ltd. - Overview
              • Exhibit 120: BYD Co. Ltd. - Business segments
              • Exhibit 121: BYD Co. Ltd. - Key news
              • Exhibit 122: BYD Co. Ltd. - Key offerings
              • Exhibit 123: BYD Co. Ltd. - Segment focus
            • 12.7 CNH Industrial NV
              • Exhibit 124: CNH Industrial NV - Overview
              • Exhibit 125: CNH Industrial NV - Business segments
              • Exhibit 126: CNH Industrial NV - Key news
              • Exhibit 127: CNH Industrial NV - Key offerings
              • Exhibit 128: CNH Industrial NV - Segment focus
            • 12.8 Complete Coach Works
              • Exhibit 129: Complete Coach Works - Overview
              • Exhibit 130: Complete Coach Works - Product / Service
              • Exhibit 131: Complete Coach Works - Key offerings
            • 12.9 Eletra
              • Exhibit 132: Eletra - Overview
              • Exhibit 133: Eletra - Product / Service
              • Exhibit 134: Eletra - Key offerings
            • 12.10 GreenPower Motor Co. Inc.
              • Exhibit 135: GreenPower Motor Co. Inc. - Overview
              • Exhibit 136: GreenPower Motor Co. Inc. - Product / Service
              • Exhibit 137: GreenPower Motor Co. Inc. - Key news
              • Exhibit 138: GreenPower Motor Co. Inc. - Key offerings
            • 12.11 Jiangsu Alfa Bus Co. Ltd.
              • Exhibit 139: Jiangsu Alfa Bus Co. Ltd. - Overview
              • Exhibit 140: Jiangsu Alfa Bus Co. Ltd. - Product / Service
              • Exhibit 141: Jiangsu Alfa Bus Co. Ltd. - Key offerings
            • 12.12 Linkker Oy
              • Exhibit 142: Linkker Oy - Overview
              • Exhibit 143: Linkker Oy - Product / Service
              • Exhibit 144: Linkker Oy - Key offerings
            • 12.13 Mercedes Benz Group AG
              • Exhibit 145: Mercedes Benz Group AG - Overview
              • Exhibit 146: Mercedes Benz Group AG - Business segments
              • Exhibit 147: Mercedes Benz Group AG - Key offerings
              • Exhibit 148: Mercedes Benz Group AG - Segment focus
            • 12.14 Proterra Inc.
              • Exhibit 149: Proterra Inc. - Overview
              • Exhibit 150: Proterra Inc. - Product / Service
              • Exhibit 151: Proterra Inc. - Key news
              • Exhibit 152: Proterra Inc. - Key offerings
            • 12.15 TECNOBUS Spa
              • Exhibit 153: TECNOBUS Spa - Overview
              • Exhibit 154: TECNOBUS Spa - Product / Service
              • Exhibit 155: TECNOBUS Spa - Key offerings
            • 12.16 Xiamen King Long United Automotive Industry Co. Ltd.
              • Exhibit 156: Xiamen King Long United Automotive Industry Co. Ltd. - Overview
              • Exhibit 157: Xiamen King Long United Automotive Industry Co. Ltd. - Product / Service
              • Exhibit 158: Xiamen King Long United Automotive Industry Co. Ltd. - Key offerings
            • 12.17 Yinlong Energy China Ltd.
              • Exhibit 159: Yinlong Energy China Ltd. - Overview
              • Exhibit 160: Yinlong Energy China Ltd. - Product / Service
              • Exhibit 161: Yinlong Energy China Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 162: Inclusions checklist
                • Exhibit 163: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 164: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 165: Research methodology
                • Exhibit 166: Validation techniques employed for market sizing
                • Exhibit 167: Information sources
              • 13.5 List of abbreviations
                • Exhibit 168: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Electric Bus market growth will increase by $61.03 thousand units during 2023-2027.
              The electric bus market is expected to grow at a CAGR of 9.23% during 2023-2027.
              Technavio has segmented the electric bus market by application (Intercity and Intra city) ,type (Pure electric bus and Plug-in hybrid bus) , and geography (APAC, Europe, North America, and Rest of World (ROW)).
              AB Volvo, BKM.BY, Bollore SE, BYD Co. Ltd., CNH Industrial NV, Complete Coach Works, Eletra, GreenPower Motor Co. Inc., Jiangsu Alfa Bus Co. Ltd., Linkker Oy, Mercedes Benz Group AG, NFI Group Inc., POL-MOT Holding SA, Proterra Inc., Tata Sons Pvt. Ltd., TECNOBUS Spa, VDL Bus and Coach BV, Xiamen King Long United Automotive Industry Co. Ltd., Yinlong Energy China Ltd., Zhongtong Bus Holding Co. Ltd. are a few of the key vendors in the electric bus market.
              APAC will register the highest growth rate of 92.27% among the other regions. Therefore, the electric bus market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • China
              • India
              • Germany
              • UK
              The key factors driving the electric bus market growth are:
              • Reduction in battery prices
              • Increasing popularity of wireless charging systems
              The electric bus market vendors should focus on grabbing business opportunities from the intercity segment as it accounted for the largest market share in the base year.
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