Global Electric Bus Market Report 2021: China is Expected to Reach 80% in 2030, While India and LATAM will be the Fastest-Growing Markets
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The global electric bus market size is expected to reach more than 210,000 units by 2030 at a compound annual growth rate (CAGR) of 13.9%.
The penetration of electric buses in China is expected to reach 80% in 2030 India and LATAM will be the fastest-growing markets between 2020 and 2030 with a CAGR of 38.4% and 28.4%, respectively.
Electric buses will find traction across major regions driven by emission regulations, battery price drop, the emergence of low emission zones, purchase subsidy, and tax exemptions. The growing adoption of electric transit buses has enabled global sourcing and supply chain for alternate powertrain buses.
The market is witnessing strong collaborations among incumbent automakers, suppliers, and new players striving to enter the market. Battery-electric buses are expected to have a larger market share, followed by fuel cell electric buses by 2030. The lower total cost of ownership of electric buses, when compared to diesel buses, and the push for developing charging infrastructure will make electric buses a profitable option from 2024 to 2026.
EU Clean Vehicle directive targets for EU countries will boost electric bus adoption, particularly as part of national public transport procurement. BEV buses are expected to have strong growth from 2022 to 2025. JIVE projects encourage fuel cell bus adoption across EU countries. The entry of utility and energy major companies into electric charging infrastructure will boost the growth of fuelling infrastructure for electric vehicles.
In China, battery-electric buses will see moderate growth from 2022 to 2025 due to the reduction of subsidies and purchase incentives. The revised subsidy program in China incorporates stricter thresholds for electric range and energy efficiencies as the minimum requirement for qualification. However lower battery prices and charging infrastructure will drive higher electric bus adoption towards 2030. In addition, Chinese electric bus OEMs are rapidly expanding globally, with the establishment of manufacturing and assembly plants, in addition to exports.
Zero-emission Bus Rapid-Deployment Accelerator (ZEBRA) is expected to drive the electric bus adoption in Latin America with the focus initially on Medellin, Sao Paulo, and Mexico City. Major countries are developing an electromobility strategy promoting zero-emission buses in public transportation. Chinese OEMs have established regional production bases to tap into LATAM. The electric bus unit shipments are expected to grow at a CAGR of 28.4% from 2020 to 2030.
The increasing need for reducing emissions, especially in highly-populated cities, will necessitate the need for electric buses in the intra-city passenger transport segment. Growing battery capacities coupled with aggressive development in charging infrastructure technologies is expected to increase the adoption rate of electric powertrains in the coaches segment though it faces stiff competition from diesel and natural gas buses.
Key Topics Covered:
1. Strategic Imperatives
Why is it Increasingly Difficult to Grow?
The Impact of the Top Three Strategic Imperatives on the Electric Bus Industry
Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis, Electric Bus Market
Electric Bus Market Scope of Analysis
Product and Technology Segmentation
Key Competitors for Electric Buses
Key Growth Metrics for Global Electric Bus Market
Growth Drivers for the Adoption of Electric Buses
Growth Restraints for the Adoption of Electric Buses
3. Market Environment and Dynamics, Global Bus Market
Snapshot of Bus Market by Region in 2030
Global Bus Market - Unit Shipment Forecast by Region
Global Bus Market - Regional Split
Snapshot of xEV Bus Market by Region in 2030
Key Electric Bus Use Cases
Key Forecast Criteria
Key Factors Impacting Electrification
Analysis of Legislative Factors
Analysis of Economic Factors
Analysis of Infrastructure Factors
Analysis of Technological Factors
Electric Bus Market Scenario Analysis
Global Electric Bus - Percent Unit Shipment Forecast by Region
Electric Bus Market - Regional Split by Technology, 2030
Electric Transit Bus Regional Pricing Outlook
Electric Coaches Regional Pricing Outlook
4. Electrification Technology Overview
Electric Motor Roadmap
Future of Battery Chemistries
CHAdeMO Charging
CHARIN
Pantograph Charging
Induction Charging
Electric Vehicle Technology Roadmap - Battery Electric Bus
Fuel Cell Vehicle Technology Roadmap - Fuel Cell Buses
5. Growth Opportunity Analysis, Electric Bus Market, North America
Key Growth Metrics for Electric Bus, North America
Key Trends, North America
Incentives, North America
Major OEMs Offering xEVs, North America
Transit Bus Market - Powertrain Forecast, North America
Coaches Market - Powertrain Forecast, North America
Electric Bus Market Scenario Analysis, North America
Transit Bus and Coach Unit Shipment Split by xEV, North America
OEM Motor and Battery Chemistry Mapping, North America
6. Growth Opportunity Analysis, Electric Bus Market, Europe
Key Growth Metrics for Electric Bus - Europe
Key Trends, Europe
Incentives, Europe
Low Emission Zones (LEZs), Europe
Major OEMs Offering xEVs, Europe
Transit Bus Market - Powertrain Forecast, Europe
Coaches Market - Powertrain Forecast, Europe
Electric Bus Market Scenario Analysis, Europe
Transit Bus and Coach Unit Shipment Split by xEV, Europe
OEM - Motor Type Mapping, Europe
OEM - Battery Chemistry Mapping, Europe
2020 Regional Analysis - Germany
2020 Regional Analysis - France
2020 Regional Analysis - Spain
2020 Regional Analysis - Italy
2020 Regional Analysis - UK
7. Growth Opportunity Analysis, Electric Bus Market, China
Key Growth Metrics for Electric Bus - China
Key Trends, China
Incentives, China
Major OEMs Offering xEVs, China
Transit Bus Market - Powertrain Forecast, China
Coaches Market - Powertrain Forecast, China
Transit Bus and Coach Unit Shipment Split by xEV, China
Electric Bus Market Scenario Analysis, China
8. Growth Opportunity Analysis, Electric Bus Market, India
Key Growth Metrics for Electric Bus-India
Key Trends, India
Incentives, India - FAME-II
Major OEMs Offering xEVs, India
Transit Bus Market - Powertrain Forecast, India
Coaches Market - Powertrain Forecast, India
Electric Bus Market Scenario Analysis, India
Transit Bus and Coach Unit Shipment Split by xEV, India
9. Growth Opportunity Analysis, Electric Bus Market, Latin America
Key Growth Metrics for Electric Bus, Latin America
Key Trends, Latin America
Incentives, Latin America
Major OEMs Offering xEVs, Latin America
Transit Bus Market - Powertrain Forecast, Latin America
Coaches Market - Powertrain Forecast, Latin America
Electric Bus Market Scenario Analysis, Latin America
Transit Bus and Coach Unit Shipment Split by xEV, Latin America
10. Total Cost of Ownership, Transit Bus Market, North America
Operational Cost/Mile Comparison - Assumptions
Diesel Transit Bus - Price, Fuel, and R&M Breakdown
NG Transit Bus - Price, Fuel, and R&M Breakdown
Electric Transit Bus - Price, Fuel, and R&M Breakdown
Fuel Cell Transit Bus - Price, Fuel, and R&M Breakdown
Diesel, NG, Electric, Fuel Cell Transit Bus Operational CPM Comparison
Operational Cost/Mile ($/mile) - Diesel, Electric, NG, Fuel Cell
11. Growth Opportunity Universe, Electric Bus Market
Growth Opportunity - Expanding the Electric Bus Product Portfolio to Compete with Conventional Fuel-powered Buses
12. Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/j3g554
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