Market Size of global electric bus Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 45.00 Billion |
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Market Size (2029) | USD 116.46 Billion |
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CAGR (2024 - 2029) | 20.95 % |
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Largest Share by Fuel Type | HEV |
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Largest Share by Region | North America |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Electric Bus Market Analysis
The Global Electric Bus Market size is estimated at USD 45 billion in 2024, and is expected to reach USD 116.46 billion by 2029, growing at a CAGR of 20.95% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - HEV : Public and private investments made over the last two decades have developed the buses to compete with ICE-based buses. Which is making Hybrid buses the largest fuel type in global e-bus market.
- Fastest-growing Segment by Fuel Type - BEV : The government practices and private programs to cut carbon emission, and development in charging infrastructure is making BEV the fastest growing fuel type in buses Globally.
- Largest Segment by Country - US : China is a major player in the electric bus market, accounting for 98% of all-electric buses worldwide. This is due to the major e-bus manufacturers being from china.
- Second leading Market Player - HEV : The company has a strong focus on R&D activities. Variety of e bus models offering and strong hold on the Chinese market makes Zhongtong Bus Holding Co Ltd 2nd leading player in global bus market.
