Guidehouse Insights Estimates by 2034, Most Buses Sold Globally Will Have an Electric Powertrain

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Jun 06, 2024, 05:15 ET

Passenger transport is regarded as a clear opportunity for decarbonization

BOULDER, Colo., June 6, 2024 /PRNewswire/ -- A new report from Guidehouse Insights examines the global market for heavy electric buses over the next 10 years. It presents analyses for the overall bus market segmented into three categories: transit buses, long-distance buses, and school buses.

Mass passenger transport is a fundamental necessity in every part of the world, and buses have historically provided much of the necessary capacity and will likely continue to do so. They also offer a simple yet highly effective decarbonization lever via electrification. According to a new report from Guidehouse Insights, by 2034, most buses sold globally will have an electric powertrain, with battery electric (BE) being by far the most common type of non-internal combustion engine (ICE) powertrain in use.

"Buses play a fundamental role in global society, enabling both economic development and social mobility," says Oliver Dixon, senior research analyst with Guidehouse Insights. "Given the clear case for and likely ease of transition to EV technology in this segment, 10 years to market primacy might seem a pessimistic outlook. However, while some low hanging fruit can be exploited in the near term, decarbonizing the entire bus segment is challenged by issues related to cost and vehicle longevity."

While the adoption of BE buses—most notably in the transit and school bus segments—is already well underway and developing momentum, the outlook for fuel cell (FC) buses is far less assured, as a function of both cost and appropriateness.

The global bus market is a mature one, but the same may not be said for the electric bus market. Passenger transport is regarded as a clear opportunity for decarbonization, and interest in non-internal combustion engine alternative propulsion methods has been developing over the last decade, according to the report.

The report, The Global Electric Bus Market, examines the global market for BE and FC buses. Analyses are presented for both sales and adoption rates for the transit, long-distance, and school bus segments globally and by region. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 16,000 professionals in over 55 locations globally. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.

* The information contained in this press release concerning the report, The Global Electric Bus Market, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:

Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
cfradkin@scprgroup.com

SOURCE Guidehouse Insights