Market Overview:
The global battery-electric buses market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for environment-friendly and low-emission transportation solutions, rising concerns over air pollution, and government initiatives towards the adoption of electric vehicles. The battery-electric buses market is segmented on the basis of type into BEV, PHEV, and FCEV. The BEV segment is expected to account for a major share of the global battery-electric buses market in 2018 owing to its high efficiency and low emissions as compared to other types of electric vehicles. However, FCEVs are anticipated to witness higher growth rates during the forecast period due their ability to travel longer distances without recharging when compared with BEVs or PHEVs. On the basis of application, the battery-electric buses market can be divided into intercity and intra-city bus segments. The intra-city bus segment is projected register higher growth rates than intercity bus segments duringthe forecast period owingto growing urbanization across all regions worldwide coupled with rising public transportation needs in cities.
Product Definition:
A battery-electric bus is a bus that runs on electricity stored in batteries. Battery-electric buses are important because they reduce air pollution and greenhouse gas emissions.
BEV:
Battery Electric Vehicle (BEV) is a battery-powered vehicle using electric motors and rechargeable batteries for power in the absence of an external source of energy. The BEV market has been growing at a rapid pace owing to increasing government regulations on emission control, rising fuel prices, and decreasing the cost of batteries.
The global BEV market size was valued at USD 14.4 billion in 2016.
PHEV:
Plug-in Hybrid Electric Vehicle (PHEV) is a hybrid electric vehicle that uses both electricity and fossil fuels. It has a small internal combustion engine which can power the vehicle using either gasoline or diesel fuel. The PHEVs use battery packs to power the electric motor, which in turn increases the driving range by up to 20%.
Application Insights:
The market is segmented by application into intercity buses and intra-city buses. The intercity bus segment dominated the global battery-electric buses market in 2017, accounting for over 60% of the revenue share. This growth can be attributed to factors such as increasing number of public transport operators adopting electric vehicles due to benefits such as cost reduction, emission reduction and improved passenger experience.
Intra-city bus is expected to be one of the fastest growing segments owing to rising demand for flexible schedules coupled with reduced costs associated with operating conventional diesel or gasoline powered buses within cities. Furthermore, increased focus on reducing air pollution within major cities will further drive this segment over the forecast period.
Regional Analysis:
Asia Pacific regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid urbanization, which has resulted in increased demand for public transport buses. Countries such as China and Japan are among the major contributors to regional growth owing to their large population, high per capita income levels, growing economy, and increasing adoption of advanced technologies.
China is projected to dominate Asia Pacific BEB market over the forecast period owing to government initiatives favoring battery-operated vehicles along with rising investments by manufacturers operating within China's borders or collaborating with Chinese companies. For instance; BYD Auto Co., Ltd., a manufacturer based in Shenzhen city (SZ), Guangdong province partnered with Tianjin Hybrid Electric Vehicle Co., Ltd.
Growth Factors:
- Increasing demand for electric buses from the public and private sectors due to environmental concerns and benefits of using electric buses over traditional diesel buses such as improved air quality, noise reduction, and fuel efficiency.
- Government initiatives in developed countries to replace conventional vehicles with battery-electric buses in order to reduce greenhouse gas emissions and improve air quality are expected to drive the market growth. For instance, the UK government has announced a plan to phase out all diesel-powered double decker buses by 2040 and replace them with zero emission battery-electric models.
- The falling cost of lithium ion batteries is expected to make electric bus more affordable, which is likely to boost market growth over the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Battery-Electric Buses Market Research Report
By Type
BEV, PHEV, FCEV
By Application
Intercity, Intra-city
By Companies
BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), AB Volvo (Sweden)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
197
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Battery-Electric Buses Market Report Segments:
The global Battery-Electric Buses market is segmented on the basis of:
Types
BEV, PHEV, FCEV
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Intercity, Intra-city
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BYD (China)
- Yutong (China)
- Proterra (US)
- VDL Groep (Netherlands)
- AB Volvo (Sweden)
Highlights of The Battery-Electric Buses Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- BEV
- PHEV
- FCEV
- By Application:
- Intercity
- Intra-city
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Battery-Electric Buses Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Battery-electric buses are buses that use batteries to power the electric motors. This type of bus is more environmentally friendly than traditional diesel or gasoline buses because it doesn't produce emissions from the engine.
Some of the key players operating in the battery-electric buses market are BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), AB Volvo (Sweden).
The battery-electric buses market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Battery-Electric Buses Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Battery-Electric Buses Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Battery-Electric Buses Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Battery-Electric Buses Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Battery-Electric Buses Market Size & Forecast, 2020-2028
4.5.1 Battery-Electric Buses Market Size and Y-o-Y Growth
4.5.2 Battery-Electric Buses Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 BEV
5.2.2 PHEV
5.2.3 FCEV
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Intercity
6.2.2 Intra-city
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Battery-Electric Buses Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Battery-Electric Buses Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 BEV
9.6.2 PHEV
9.6.3 FCEV
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Intercity
9.10.2 Intra-city
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 BEV
10.6.2 PHEV
10.6.3 FCEV
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Intercity
10.10.2 Intra-city
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 BEV
11.6.2 PHEV
11.6.3 FCEV
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Intercity
11.10.2 Intra-city
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 BEV
12.6.2 PHEV
12.6.3 FCEV
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Intercity
12.10.2 Intra-city
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 BEV
13.6.2 PHEV
13.6.3 FCEV
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Intercity
13.10.2 Intra-city
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Battery-Electric Buses Market: Competitive Dashboard
14.2 Global Battery-Electric Buses Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BYD (China)
14.3.2 Yutong (China)
14.3.3 Proterra (US)
14.3.4 VDL Groep (Netherlands)
14.3.5 AB Volvo (Sweden)
