Market Share of Asia-Pacific Electric Bus Industry
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
BYD Auto Co. Ltd.
Olectra Greentech Ltd.
Tata Motors Ltd.
Switch Mobility Ltd.
Zhengzhou Yutong Bus Co. Ltd.
*Disclaimer: Major Players sorted in no particular order
