Asia Pacific Electric Bus Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Asia Pacific Electric Bus Companies and the market is segmented by Vehicle Type (Battery Electric Bus and Plug-in Hybrid Electric Bus), By Power Source Type (DC/AC Inverter, DC/DC Converter, DC/DC Boost Converter, E-Motor, AC/DC Charger, and Motor Controller), Consumer (Government and Fleet Operators), and Country (China, India, Japan, South Korea and Rest of Asia-Pacific). The market size and forecasts are provided in terms of value (USD Billion) for all the above segments.

Asia Pacific Electric Bus Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Asia Pacific Electric Bus Market Size

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Market Summary.pptx
Study Period 2019 - 2030
Market Size (2025) USD 49.46 Billion
Market Size (2030) USD 81.67 Billion
CAGR (2025 - 2030) 10.55 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Asia-Pacific Electric Bus Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Asia Pacific Electric Bus Market Analysis

The Asia-Pacific Electric Bus Market size is estimated at USD 49.46 billion in 2025, and is expected to reach USD 81.67 billion by 2030, at a CAGR of 10.55% during the forecast period (2025-2030).

The Asia Pacific Electric Bus market suffered a big decline during the COVID-19 pandemic due to manufacturing shutdowns, lockdowns, and trade restrictions. Furthermore, the fall in automotive production restrictions on travel in public transport, and lack of labor significantly impacted the market. As automotive manufacturers have resumed operations due to steadily rising automobile sales in countries with a limited number of COVID-19 cases, the market is likely to recover during the forecast market. Furthermore, the manufacturers are implementing contingency plans to mitigate future business uncertainties to retain continuity with clients in the critical sectors of the automobile industry.

Over the long term, increasing investments in production capacity by major industry players, as well as various policies announced by the governments of China and India to completely electrify the public transport in their respective countries by 2030 , adoption of stringent automotive emission norms like Bharat Stage 6 norms in India and announcement by major countries like China, India, Japan and South Korea to ban sales of new ICE engine vehicles by 2040 are creating demand in the electromobility industry with a surge in sales of electric buses in the region. Higher purchasing price of electric buses than diesel/CNG buses, lack of charging infrastructure and prominence of diesel buses in markets like Japan and ASEAN are likely to be the major restraints for the growth of electric buses in Asia-Pacific.

Key players in the market are entering new markets to cater to the increased demand for electric buses. For instance, in May 2022 BYD announced the launch of its electric buses in Japan and announced the target of selling 4000 electric buses in Japan by 2030. Also in August 2022 CATL and Zhengzhou Yutong Bus Co. Ltd. extended their cooperation for electric batteries till 2032.

China is the largest market for electric buses due to the presence of large number of electric bus manufacturers and the government plan to decarbonise the public transport in the country before 2030. India is the fastest growing market for electric buses in the region largely due to government initiatives like allocation of USD 10 billion to purchase 50000 electric buses to make all the public transport in the country carbon neutral by 2030. Thus electric bus sales in Asia-Pacific are anticipated to grow at a healthy CAGR due to the confluence of the above factors.

Asia Pacific Electric Bus Industry Overview

The Asia-Pacific electric bus market is highly consolidated. The market is characterized by the presence of considerably large players who have secured long-term supply contracts with major municipal operators looking to completely electrify their public transport networks and reduce their carbon footprint. These players also engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions.

Some of the major players in the electric bus market include BYD, Tata Motors, Yutong, Switch Mobility (Ashok Leyland), Olectra Greentech Ltd., VE Electro Mobility Ltd., etc. Indian manufacturers like Ashok Leyland Ltd. are also securing major orders for electric buses which is rapidly expanding the market. For instance,

  • In August 2022, Ashok Leyland-owned Switch Mobility unveiled India's first air-conditioned electric double-decker bus for BEST in Mumbai.
  • In August 2022, Ashok Leyland owned Switch Mobility delivered 75 electric city buses to Bengaluru Metropolitan Transport Corporation (BMTC) as a part of 300 bus order.

Asia Pacific Electric Bus Market Leaders

  1. BYD Auto Co. Ltd.

  2. Olectra Greentech Ltd.

  3. Tata Motors Ltd.

  4. Switch Mobility Ltd.

  5. Zhengzhou Yutong Bus Co. Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
Asia-Pacific Electric Bus Market Concentration.jpg
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Asia Pacific Electric Bus Market News

  • In August 2022, Ashok Leyland's subsidiary Switch Mobility Ltd. secured an order to supply 200 air-conditioned electric double-decker buses from BEST in Mumbai. The double-decker buses are from EiV22 family and are powered by a 231 kWh battery, The buses will replace the existing fossil fuel powered double-decker buses in the BEST fleet. 
  • In August 2022, CAUSIS E-Mobility a part of London-based CAUSIS Group opened its office in Pune. In October 2021 the company has signed an MoU with the Government of Maharashtra to set up its second electric bus manufacturing facility in India at Pune. The company has secured an order to supply 700 electric buses to BEST in India, The company has already a manufacturing facility for electric buses in Jaipur.
  • In May 2022, Olectra Greentech Ltd. secured an order to supply 2100 electric buses to BEST in Mumbai worth INR 3675 million. 
  • In August 2022, Switch Mobility Ltd. (Ashok Leyland Ltd.) won an order to supply 5000 electric buses to integrated Indian transport company Chalo. The memorandum of Ubderstanding has been signed for an initial period of three years and will see Chalo deploy Switch EiV12 electric buses across all Indian cities it operates in. 
  • In July 2022, Tata Motors Ltd. bagged a prestigious order to supply 1500 electric buses to Delhi Transport Corporation (DTC). Tata Motors Ltd. will supply, operate and maintain 12 meter long electric buses built on Starbus platform for a period of 12 years under the contract signed with DTC. 
  • In August 2022, Volvo Eicher joint venture VE Commercial vehicles Ltd. floated a separate subsidiary for electric buses named as VE Electro Mobility to raise capital from investores and pursue aggressive expansion in the electromobility space including electric buses. 
  • In January 2022 CRRC Electric, a Chinese manufacturer of electric buses delivered 30 units of C11 electric buses to Seoul, South Korea. These buses are 11 meters in length. 
  • In February 2022 Toyota, Isuzu and Hino (Toyota subsidiary) announced to launch their first jointly developed electric bus in Japan by 2024.

Asia Pacific Electric Bus Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size in USD Billion)

  • 5.1 By Vehicle Type
    • 5.1.1 Battery Electric Bus
    • 5.1.2 Plug-in Hybrid Electric Bus
  • 5.2 By Power Source
    • 5.2.1 DC/AC Inverter
    • 5.2.2 DC/DC Converter
    • 5.2.3 DC/DC Boost Converter
    • 5.2.4 E-Motor
    • 5.2.5 AC/DC Charger
    • 5.2.6 Motor Controller
  • 5.3 By Consumer
    • 5.3.1 Government
    • 5.3.2 Fleet Operators
  • 5.4 By Country
    • 5.4.1 China
    • 5.4.2 India
    • 5.4.3 Japan
    • 5.4.4 South Korea
    • 5.4.5 Rest of Asia-Pacific

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 BYD Auto Co. Limited
    • 6.2.2 Tata Motors Limited
    • 6.2.3 Zhongtong Bus Holding Co. Limited
    • 6.2.4 King Long United Automotive Co. Limited
    • 6.2.5 Volvo Group
    • 6.2.6 Anhui Ankai Automobile Industries Co. Limited
    • 6.2.7 Nanjing Jiayuan EV
    • 6.2.8 Ashok Leyland Limited
    • 6.2.9 Scania AB
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Asia Pacific Electric Bus Industry Segmentation

An electric bus is a type of bus which uses electricity for its propulsion instead of any fossil fuel like diesel or CNG. The electric bus uses an electric motor that derives power from a rechargeable battery or fuel cells. The electric buses emit no emissions so they are classified as Zero Emission Vehicles (ZEVs) and are eligible for a number of government incentives and benefits aimed at promoting electric vehicles.

The Asia-Pacific electric bus market has been segmented by vehicle type, power source type, consumer, and country.

By vehicle type, the market is segmented into Battery Electric Bus and Plug-in Hybrid Bus. By power source type, the market is segmented into DC/AC Inverter, DC/DC Converter, DC/DC Boost Converter, E-Motor, AC/DC Charger, and Motor Controller.

By consumer, the market is segmented into Government and Fleet Operators. By country, the market is segmented into China, India, Japan, South Korea, and the Rest of Asia-Pacific. For each segment market sizing and forecast have been done on basis of value (USD billion).

By Vehicle Type Battery Electric Bus
Plug-in Hybrid Electric Bus
By Power Source DC/AC Inverter
DC/DC Converter
DC/DC Boost Converter
E-Motor
AC/DC Charger
Motor Controller
By Consumer Government
Fleet Operators
By Country China
India
Japan
South Korea
Rest of Asia-Pacific
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Asia Pacific Electric Bus Market Research FAQs

How big is the Asia-Pacific Electric Bus Market?

The Asia-Pacific Electric Bus Market size is expected to reach USD 49.46 billion in 2025 and grow at a CAGR of 10.55% to reach USD 81.67 billion by 2030.

What is the current Asia-Pacific Electric Bus Market size?

In 2025, the Asia-Pacific Electric Bus Market size is expected to reach USD 49.46 billion.

Who are the key players in Asia-Pacific Electric Bus Market?

BYD Auto Co. Ltd., Olectra Greentech Ltd., Tata Motors Ltd., Switch Mobility Ltd. and Zhengzhou Yutong Bus Co. Ltd. are the major companies operating in the Asia-Pacific Electric Bus Market.

Which is the fastest growing region in Asia-Pacific Electric Bus Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Asia-Pacific Electric Bus Market?

In 2025, the Asia-Pacific accounts for the largest market share in Asia-Pacific Electric Bus Market.

What years does this Asia-Pacific Electric Bus Market cover, and what was the market size in 2024?

In 2024, the Asia-Pacific Electric Bus Market size was estimated at USD 44.24 billion. The report covers the Asia-Pacific Electric Bus Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Electric Bus Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Asia Pacific Electric Bus Industry Report

Statistics for the 2025 Asia-Pacific Electric Bus market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Electric Bus analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.