Electric School Bus Market Size, Share & Forecast 2022-2030
Provided By: Market Research Store
Electric School Bus Market Size, Share & Forecast 2022-2030
Provided By: Market Research Store
**Electric School Bus Market** Size, Trends and Insights By Battery Type (Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate), By Propulsion Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Hybrid Electric Vehicle), By Battery Capacity (Below 100 kWh, 100-300 kWh, Above 300 kWh), By Seating Capacity (Below 40 seats, 40-70 Seats, Above 700 Seats), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030
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Overview
Global Electric School Bus Market
Electric School Bus Market: Overview
According to Custom Market Insights (CMI), The Global Electric School Bus Market Size was valued at USD 18 billion in 2021 and is estimated to reach USD 40 billion by the end of 2030 at a CAGR of approximately 14% during the forecast period 2022-2030.
The report further provides an overview of drivers, restraints, and opportunities present in the Electric School Bus market. Moreover, the report examines the global competitive analysis for the Electric School Bus market.
The market research report for electric school buses has highlighted recent improvements in market quality and competitive strategies. Business owners can use the statistics presented in this report to direct their operations in the present. Access the historical data analyzed in this study from 2019 and a projection covering 2022 to 2030.
Commercial transport companies’ shifting attention to sustainable transportation will fuel the market demand. Additionally, to increase their commitment to creating a sustainable environment, governments are concentrating on expediting the adoption of e-buses.
The main element hampering market growth is the high initial cost of electric buses. Heavy capital expenditures and sizable down payments are necessary for the purchase of electric buses and PHEV buses. The demand for e-buses is also being negatively impacted by additional costs such as storage costs, taxes, loan interest, cost of insurance, and licensing.
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Electric School Bus Market: Growth Drivers
Developing sustainable and fuel-efficient urban public transportation systems is one of many positive initiatives performed by government bodies of various nations that are the main drivers of the worldwide market. This is a result of the growing worries about the depletion of fossil fuels. Additionally, the adoption of fuel-efficient and high-performance school buses results from the rising demand for alternative energy due to the continuously fluctuating fuel prices.
In keeping with this, the market is being stimulated by ongoing technological developments in the automotive sector, cheap access to electrical components and constantly improved charging infrastructure. The market is also influenced by other factors, such as falling lithium-ion (Li-ion) battery prices, rising disposable income levels, growing urbanization, intensive research and development (R\&D), and merger and acquisitions (M\&A) operations carried out by important players.
Report URL: https://www.custommarketinsights.com/report/electric-school-bus-market/
Electric School Bus Market: Regional Analysis
The Asia-Pacific region is anticipated to hold a significant market share during the projected period. The need to lessen urban pollution and dependence on fossil fuels, as well as to expand national government initiatives toward clean public transportation, are factors driving the growth of the electric bus market in the Asia Pacific region. Chinese businesses like BYD, Ankai, Yutong, and Zhongtong dominate domestic and international markets. Due to the decreasing prices of materials and components, these players have created and provided a wide selection of electric bus types.
TMB (Transportes Metropolitanos de Barcelona) placed BYD’s first order in November 2021 for 25 of its newest 40-foot electric buses, with delivery anticipated between 2022 and 2024. This decree is a part of the plan to eliminate Barcelona’s dirty diesel buses by 2025. The Chinese government has made significant investments to convert the fleet of traditional public transportation to electric. As a result, the nation is outpacing American and European nations in the market. Due to China’s rapid adoption of electric buses, the Asia Pacific region now dominates the industry. Other Asian nations have begun incorporating electric buses into their public transit fleets.
Electric School Bus Market: Recent Developments
- February 2021: The Chicago Transit Authority has placed a supply order with Nova Bus, a Volvo Buses affiliate. Six hundred brand-new 40-foot electric buses from Nova Bus are being ordered.
- April 2021: 32 electric buses will be supplied by VDL to Hermes, an Eindhoven-based public transportation provider. Beginning in January 2022, these buses will be part of the cityscape of Eindhoven.
- January 2021: The planning for the electrification of two lines in Switzerland was approved. The country’s market for electric buses is anticipated to grow due to this ongoing emphasis on fleet electrification.
Key Players:
- BYD
- Yutong
- CAF
- VDL Groep
- AB Volvo
- Dailmer AG
- NFI Group
- Ankai
- King Long
- Nissan Motor Corporation
- Toyota Motor Corporation
- SCANIA AB
- General Motors
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The global Electric School Bus market is segmented as follows:
By Battery Type
- Lithium Nickel Manganese Cobalt Oxide
- Lithium Iron Phosphate
By Propulsion Type
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Plug-in Hybrid Electric Vehicle
By Battery Capacity
- Below 100 kWh
- 100-300 kWh
- Above 300 kWh
By Seating Capacity
- Below 40 seats
- 40-70 Seats
- Above 700 Seats
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Browse Other Custom Market Insights coverage of the Global Energy And Power Industry
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Name | Type | Data dictionary | AWS Region |
|---|---|---|---|
Electric School Bus Market | Not included | US East (N. Virginia) |
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