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The Electric Mid- & Large Bus Market grew from USD 31.73 billion in 2023 to USD 36.27 billion in 2024. It is expected to continue growing at a CAGR of 15.16%, reaching USD 85.28 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
The electric mid- and large bus market pertains to the segment of commercial vehicles that rely on electric propulsion systems for public and private transport services. As urban centers aim to reduce carbon footprints, the adoption of electric buses emerges as crucial in public transport, offering reduced emissions, operational cost savings, and compliance with environmental regulations. The necessity for electric buses is driven by factors such as government support in the form of subsidies, the decline in battery costs, and growing urbanization accompanied by rising environmental concerns. The application of these buses spans across public transport, corporate transit, and intercity transportation, playing a key role in fulfilling mobility needs of densely populated regions. The end-use scope mainly covers municipal bodies, private transit operators, and educational institutions.
Key growth influencers in the market include technological advancements in battery and charging infrastructure, rising fuel costs, and government mandates promoting green transportation. New opportunities emerge from innovations such as extended range capabilities, smart charging solutions, and integration of advanced telematics for fleet management. Market players are advised to focus on developing strategic partnerships with cities transitioning to electric fleets and exploring markets with limited infrastructure but high pollution levels. Nonetheless, challenges such as high initial investment costs, inadequate charging infrastructure, and limited range of models impede market growth. Uncertainties in raw material supply chains and the need for significant grid upgrades for widespread adoption also pose challenges.
To foster innovation and growth, investment in battery technologies, particularly in improving energy density and reducing charging times, is vital. Research into autonomous electric buses and development of efficient charging networks can unlock substantial future market potential. The nature of the market is dynamic and competitive, with technological advancements and regulatory frameworks shaping its trajectory. Successful market penetration requires agility in adopting emerging technologies and addressing infrastructure challenges, ensuring a sustainable and competitive edge.
Understanding Market Dynamics in the Electric Mid- & Large Bus Market
The Electric Mid- & Large Bus Market is rapidly evolving, shaped by dynamic supply and demand trends. These insights provide companies with actionable intelligence to drive investments, develop strategies, and seize emerging opportunities. A comprehensive understanding of market dynamics also helps organizations mitigate political, geographical, technical, social, and economic risks while offering a clearer view of consumer behavior and its effects on manufacturing costs and purchasing decisions.- Market Drivers
- Increasing adoption of electric vehicles in the commercial vehicle segment
- Government support for the electrification of public transport
- Implementation of stringent emission norms and environmental regulations
- Market Restraints
- High cost of development of electric buses
- Market Opportunities
- Growing introduction of technologically advanced mid and large-electric buses
- Rising investment to expand the electric vehicle charging infrastructure
- Market Challenges
- Range issues with electric buses
Exploring Porter’s Five Forces for the Electric Mid- & Large Bus Market
Porter’s Five Forces framework further strengthens the insights of the Electric Mid- & Large Bus Market, delivering a clear and effective methodology for understanding the competitive landscape. This tool enables companies to evaluate their current competitive standing and explore strategic repositioning by assessing businesses’ power dynamics and market positioning. It is also instrumental in determining the profitability of new ventures, helping companies leverage their strengths, address weaknesses, and avoid potential pitfalls.Applying PESTLE Analysis to the Electric Mid- & Large Bus Market
External macro-environmental factors deeply influence the performance of the Electric Mid- & Large Bus Market, and the PESTLE analysis provides a comprehensive framework for understanding these influences. By examining Political, Economic, Social, Technological, Legal, and Environmental elements, this analysis offers organizations critical insights into potential opportunities and risks. It also helps businesses anticipate changes in regulations, consumer behavior, and economic trends, enabling them to make informed, forward-looking decisions.Analyzing Market Share in the Electric Mid- & Large Bus Market
The Electric Mid- & Large Bus Market share analysis evaluates vendor performance. This analysis provides a clear view of each vendor’s standing in the competitive landscape by comparing key metrics such as revenue, customer base, and other critical factors. Additionally, it highlights market concentration, fragmentation, and trends in consolidation, empowering vendors to make strategic decisions that enhance their market position.Evaluating Vendor Success with the FPNV Positioning Matrix in the Electric Mid- & Large Bus Market
The Electric Mid- & Large Bus Market FPNV Positioning Matrix is crucial in evaluating vendors based on business strategy and product satisfaction levels. By segmenting vendors into four quadrants - Forefront (F), Pathfinder (P), Niche (N), and Vital (V) - this matrix helps users make well-informed decisions that best align with their unique needs and objectives in the market.Strategic Recommendations for Success in the Electric Mid- & Large Bus Market
The Electric Mid- & Large Bus Market strategic analysis is essential for organizations aiming to strengthen their position in the global market. A comprehensive review of resources, capabilities, and performance helps businesses identify opportunities for improvement and growth. This approach empowers companies to navigate challenges in the increasingly competitive landscape, ensuring they capitalize on new opportunities and align with long-term success.Key Company Profiles
The report delves into recent significant developments in the Electric Mid- & Large Bus Market, highlighting leading vendors and their innovative profiles. These include Anhui Ankai Automobile Co., Ltd., Blue Bird Corporation, BYD Motors Inc., Construcciones y Auxiliar de Ferrocarriles, S.A., CRRC Corporation Limited, Cummins Inc., Eicher Motors Limited, Gillig LLC, GreenPower Motor Company, Lion Electric Company, Mercedes-Benz Group AG, Motiv Power Systems, Inc., NFI Group Inc., Olectra Greentech Limited, Pelican Engineering Co Ltd, Proterra Inc., REV Group Inc., Tata Motors Limited, The Lion Electric Company, Thomas Built Buses Inc., TRANSDEV Group, Traton Group, Volvo Group, Xiamen King Long International Trading Co.,Ltd., and Yutong Buses Co. Ltd..Market Segmentation & Coverage
This research report categorizes the Electric Mid- & Large Bus Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Seating Capacity
- 70 Seats and Above
- Below 70 Seats
- Level of Autonomy
- Autonomous
- Manual
- Semi-Autonomous
- Application
- Intercity
- Intracity
- End-use
- Private
- Public
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report provides a detailed overview of the market, exploring several key areas:
- Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market.
- Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development.
- Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape.
- Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players.
- Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current size of the market, and how is it expected to grow?
- Which products, segments, and regions present the most attractive investment opportunities?
- What are the prevailing technology trends and regulatory factors influencing the market?
- How do top vendors rank regarding market share and competitive positioning?
- What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?
Additional Product Information:
- Purchase of this report includes 1 year online access with quarterly updates.
- This report can be updated on request. Please contact our Customer Experience team using the Ask a Question widget on our website.
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Electric Mid- & Large Bus Market, by Type
7. Electric Mid- & Large Bus Market, by Seating Capacity
8. Electric Mid- & Large Bus Market, by Level of Autonomy
9. Electric Mid- & Large Bus Market, by Application
10. Electric Mid- & Large Bus Market, by End-use
11. Americas Electric Mid- & Large Bus Market
12. Asia-Pacific Electric Mid- & Large Bus Market
13. Europe, Middle East & Africa Electric Mid- & Large Bus Market
14. Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
The leading players in the Electric Mid- & Large Bus market, which are profiled in this report, include:- Anhui Ankai Automobile Co., Ltd.
- Blue Bird Corporation
- BYD Motors Inc.
- Construcciones y Auxiliar de Ferrocarriles, S.A.
- CRRC Corporation Limited
- Cummins Inc.
- Eicher Motors Limited
- Gillig LLC
- GreenPower Motor Company
- Lion Electric Company
- Mercedes-Benz Group AG
- Motiv Power Systems, Inc.
- NFI Group Inc.
- Olectra Greentech Limited
- Pelican Engineering Co Ltd
- Proterra Inc.
- REV Group Inc.
- Tata Motors Limited
- The Lion Electric Company
- Thomas Built Buses Inc.
- TRANSDEV Group
- Traton Group
- Volvo Group
- Xiamen King Long International Trading Co.,Ltd.
- Yutong Buses Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 198 |
| Published | October 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 36.27 Billion |
| Forecasted Market Value ( USD | $ 85.28 Billion |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
