Global Electric Bus Market 2021-2027: Market to Grow at a CAGR of 43.1% - Increasing Demand for Emission-Free and Energy-Efficient Mass Transit Solutions

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Jun 04, 2021, 16:30 ET

DUBLIN, June 4, 2021 /PRNewswire/ -- The "Electric Bus Market by Propulsion (BEV, PHEV & FCEV), Application (Intercity & Intra-city), Consumer Segment (Fleet Operators & Government), Range, Length of Bus, Power Output, Battery Capacity, Component, Battery type & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global electric bus market size is projected to grow from 81 thousand units in 2021 to reach 704 thousand units by 2027, at a CAGR of 43.1%.

The advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric bus and coach market. Many countries are focusing on the electrification of their mass transit solutions, especially buses and coaches.

Factors such as rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly buses.

However, the COVID-19 pandemic is expected to have a slight impact on the electric bus market. Both the production and sales of new vehicles had come to a halt in Q1 and Q2 of 2020 across the globe as the whole ecosystem had been disrupted. OEMs had to wait until lockdowns were lifted to resume production, which affected their business.

Post the pandemic, the demand for mass transportation would increase, as people would return to their workplace, and use public transportation. In addition, component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues. Nevertheless, another wave of COVID-19 due to newer strains may hamper the recovery in some countries.

Subsequently, electric bus manufacturers would need to adjust the production volume based on the COVID-19 scenario across different countries. In addition, component manufacturing too was suspended, and small Tier II and Tier III manufacturers are facing liquidity issues. Thus, production suspension during the outbreak and lower demand post the pandemic might have an unprecedented impact on electric bus providers

The electric bus market comprises major manufacturers such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).

Premium Insights

Attractive Opportunities in the Electric Bus Market: Increasing Demand for Fuel-Efficient and Emission-Free Vehicles is Expected to Boost the Electric Bus Market
Asia-Pacific is Estimated to Account for the Largest Market Share in 2021
Government Segment is Projected to be the Larger Market, 2021 Vs. 2027 (Units)
Bev is Projected to be the Largest Segment in the Electric Bus Market, 2021 Vs. 2027 (Units)
Up to 200 Miles is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
9-14 M is Projected to be the Largest Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
Intracity is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
Up to 250 kW is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
Battery is Projected to be the Largest Segment of the Electric Bus Market, 2021 Vs. 2027 (USD Million)
Up to 400 Kwh is Projected to be the Larger Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)
Lithium-Iron-Phosphate Battery is Projected to be the Largest Segment of the Electric Bus Market, 2021 Vs. 2027 (Units)

Market Dynamics

Drivers

Increasing Demand for Emission-Free and Energy-Efficient Mass Transit Solutions
Reduction in Battery Prices
Lower Emission Compared to Other Vehicles
Fuel Cell Product Lifecycle

Restraints

High Development Cost
Procurement Concerns Related to Raw Materials
Concerns Over Battery Safety

Opportunities

Government Support for Electrification of Public Transport
New Revenue Pockets in Asia-Pacific and Northern Europe
Implementation of Stringent Emission Norms and Environmental Regulations

Challenges

Limited Battery Capacity
Lack of Charging Infrastructure
High Initial Investments

Porter's Five Forces

Existing and Upcoming Electric Bus Models

Electric Bus Market Ecosystem
Value Chain Analysis
Average Selling Price Trend
Patent Analysis
Regulatory Overview

Case Study

Adoption of Electric Buses as Public Transport in Finland
Chile Government'S P0Licies for E-Buses as the Future of Public Transport

Trade/Registration Data

Revenue Shift for Electric Bus Manufacturers

Technology Analysis

Innovative Charging Solutions
Off-Board Top-Down Pantograph Charging System
On-Board Bottom-Up Pantograph Charging System
Ground-Based Static/Dynamic Charging System
Packaged Fuel Cell System Module
Methane Fuel Cells

Electric Bus Market: COVID-19 Impact

Impact on Raw Material Supply
COVID-19 Impact on Automotive Industry
Oem Announcements
Impact on Automotive Production

Electric Bus Market, Scenarios (2021-2027)

Company Profiles: Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View

Key Players

Byd
Yutong
Proterra
Vdl Groep
Ab Volvo
Daimler Ag
Nfi Group
Caf
Ebusco Bv
King Long
Ankai
Zhongtong Bus Holding

Other Key Players

Blue Bird Corporation
Gillig LLC
The Lion Electric Company
Tata Motors
Ashok Leyland
Changsha Sunda New Energy Technology Co. Ltd.
Olectra Greentech
Yinlong Energy
Golden Dragon
JBM Auto Limited
Scania
Irizar
Iveco
Skoda
Blue BUS
Bozankaya
CaetanobUS
Chariot Motors
Carrosserie Hess Ag
Heuliez BUS
Hybricon
Optare
Otokar Otomotiv Ve Savunma Sanayi A.?
Rampini Carlo
Sor Libchavy
Temsa
Ursus BUS
Van Hool Nv
Karsan

For more information about this report visit https://www.researchandmarkets.com/r/isiidt

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