Market Size of india electric bus Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 0.86 Billion |
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Market Size (2029) | USD 2.48 Billion |
|
Largest Share by Fuel Type | HEV |
|
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CAGR (2024 - 2029) | 23.59 % |
|
Fastest Growing by Fuel Type | BEV |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Electric Bus Market Analysis
The India Electric Bus Market size is estimated at USD 0.86 billion in 2024, and is expected to reach USD 2.48 billion by 2029, growing at a CAGR of 23.59% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - HEV : Hybrids can ideally improve fuel efficiency by about 25 percent and the lack of charging infrastructure for pure battery engines is also the reason for hybrid bus growth in India.
- 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 in India.
