China Electric Bus Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The China Electric Bus Market is segmented by Vehicle Type (Battery Electric Bus and Plug-in Hybrid Electric Bus) and Consumer Type (Government and Fleet Operators).

Market Snapshot

china e-bus market_overview
Study Period: 2018 - 2026
Base Year: 2020
CAGR: >26 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Chinese electric bus market was valued at USD 23 billion in 2020 and is expected to reach USD 94 billion by 2026, registering a CAGR of about 26% during the forecast period (2021 - 2026).

The outbreak of COVID-19 and the subsequent shutdowns have affected the e-bus market in several countries. The negative impacts of the pandemic are visible in the global supply chains as several orders get delayed. Hence, the reduction in production rate at the start of the year due to the pandemic-induced disruptions affected the market in 2020. However, the market regained its growth by the end of 2020.

China is a key player in the global electric bus market and is anticipated to sustain its dominance during the forecast period. In May 2020, more than 420,000 electric buses were in China, which is about 99.0% of the global fleet. The keen focus on electrification of public transit with prevalent subsidies and national regulations is a major factor contributing to China's high market share in the global electric bus industry.

Furthermore, the Ministry of Transport in China is offering subsidies and other benefits for the development of low emission bus fleets, thereby further positively influencing the market. For instance, more than 61,000 new energy buses were sold by Chinese bus makers during 2020 despite the pandemic. The bus production in China accounted for around 15,000 units during 2020.

During the forecast period, China may continue to witness growth in the adoption of electric buses, as more than 30 Chinese cities have made plans to achieve 100% electrified public transit by the start of 2021, including Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan in the Pearl River Delta, along with Nanjing, Hangzhou, Shaanxi, and Shandong.

Scope of the Report

Electric buses, which run by consuming electrical energy, have been considered under the scope of the market. Electric buses are being operated in two modes, electric-only and hybrid (electrical energy may be the primary fuel, thus, consuming less petroleum), which can be recharged from a standard electrical outlet. The China electric bus market is segmented by vehicle type (battery electric bus and plug-in hybrid electric bus) and consumer type (government and fleet operators). The market report covers details about the latest trends, technologies, AND COVID-19 impact on the market during the forecast period. For each segment, market sizing has been done on the basis of value (USD billion).

Vehicle Type
Battery Electric Bus
Plug-in Hybrid Electric Bus
Consumer Type
Government
Fleet Operators

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increased Adoption of Electric Buses in the Country

China is one of the largest manufacturers and consumers of electric buses in the world. The country’s domestic demand has been supported by the national sales targets, favorable laws, and supportive subsidies.

China has been one of the few developing countries that have been taking initiatives to curb vehicular pollution with the introduction of electric buses. By 2019, it was expected that 25% of the state government vehicle purchases of electric buses in China might feature zero-emission technology. Moreover, in 2020, Chinese bus makers sold around 61,000 new energy buses, whereas the total bus production in China accounted for around 150,000 units.

China is a key player in the global electric bus market and is anticipated to sustain its dominance during the forecast period. The keen focus on electrification of public transit with prevalent subsidies and national regulations is a major factor contributing toward the high market share of China in the electric bus market. For instance,

  • In November 2020, Yutong Bus signed an agreement with Qatar Free Zones Authority (QFZA) and Mowasalat to establish a KD factory in Qatar. The company will be supplying 741 units of e-buses for FIFA World Cup 2022.
  • In January 2021, -BYD announced that it had bagged a cumulative order to supply 1,002-unit pure-electric buses to Bogota, Colombia. These buses are scheduled to be delivered during 2021 and into the first half of 2022 and will be put into operation on 34 bus routes across five regions of the city.

During the forecast period, China may continue to witness growth in the adoption of electric buses, as more than 30 Chinese cities have made plans to achieve 100% electrified public transit by the start of 2021, including Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan in the Pearl River Delta, along with Nanjing, Hangzhou, Shaanxi, and Shandong.

China Electric Bus Market_trend 1

Shenzhen Leading the Chinese Electric Bus Market

With the growing focus on replacing IC engine vehicles with battery-powered vehicles, Shenzhen is leading the country. It has also become the world's first city with an entire bus fleet that runs on electricity. As per the city authorities, they received significant support from the Chinese government, along with funding. As of December 2018, all 16,000 buses in the city were electric, and it is expected that soon all 22,000 taxis will be converted into electric taxis.

To achieve the complete electric fleet goal, a Shenzhen public bus operator was granted a total of CNY 500,000 (USD 72,150) worth of subsidies every year for each vehicle it runs. Additionally, CNY 400,000 was granted from Shenzhen authorities and CNY 100,000 from the central government per vehicle to encourage the use of e-bus nationwide. Apart from that, Shenzhen Bus Group estimated that it has been able to conserve 160,000 metric ton of coal per year and has reduced annual CO2 emissions by 440,000 metric ton. It also reduced fuel consumption by 50%.

China Electric Bus Market _trend 2

Competitive Landscape

The electric bus market in the country is consolidated by major players, like BYD, Zhongtong Bus Holding Co. Ltd, eHiger, CRRC Electric, and Yutong. BYD continues to rank top in the market studied, owing to its increasing orders for electric buses from the domestic and international markets. The major players in the market have also adopted different strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position. For instance,

  • In June 2019, Yutong launched ZK6907H of the new 7 Series. It also launched four-star models, namely, the T7 3.5T gasoline version, new high-end intelligent connected city bus U10, L4 self-driving bus, and hydrogen fuel cell bus F8.
  • In December 2019, BYD Co. Ltd announced to double its bus manufacturing capacity in India and announced its plans to open bookings for its multi-purpose electric vehicle (MPV) product T3 soon, to foray into the emerging EV market in the country.

Recent Developments

  • In January 2020, Ankai leading electric bus manufacturer in China, announced that it had received a subsidy of about USD 5.4 million through new energy vehicle promotion and application subsidy provided by the Chinese government. Much of the China electric bus market has grown on the back of subsidies given by the government.
  • In January 2021, BYD Ltd received orders to supply more than 1,000-unit pure-electric buses to the capital of Colombia, Bogota. For completion of this project, BYD may partner with local bus manufacturers Superpolo and BUSSCAR.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Vehicle Type

      1. 5.1.1 Battery Electric Bus

      2. 5.1.2 Plug-in Hybrid Electric Bus

    2. 5.2 Consumer Type

      1. 5.2.1 Government

      2. 5.2.2 Fleet Operators

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 BYD Auto Co. Ltd

      2. 6.2.2 Yutong

      3. 6.2.3 Anhui Ankai Automobile

      4. 6.2.4 King Long

      5. 6.2.5 Volvo Volvo

      6. 6.2.6 Nanjing Jiayuan EV

      7. 6.2.7 Suzhou Eagle Electric Vehicle

      8. 6.2.8 Zhongtong Bus Holding Co. Ltd

      9. 6.2.9 CRRC Yongji Electric Co. Ltd

      10. 6.2.10 Higer Bus Company Limited

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The China Electric Bus Market market is studied from 2018 - 2026.

The China Electric Bus Market is growing at a CAGR of >26% over the next 5 years.

The China Electric Bus Market is valued at 23 Billion USD in 2018.

The China Electric Bus Market is valued at 94 Billion USD in 2026.

BYD Auto Co. Ltd, Zhongtong Bus Holding Co. Ltd, Yutong, Higer Bus Company Limited, Zhejiang crrc electric vehicle co. ltd are the major companies operating in China Electric Bus Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!