Market Size of north america electric bus Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 0.59 Billion |
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Market Size (2030) | USD 1.47 Billion |
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Largest Share by Fuel Category | HEV |
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CAGR (2024 - 2030) | 16.56 % |
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Largest Share by Country | US |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Electric Bus Market Analysis
The North America Electric Bus Market size is estimated at 0.59 billion USD in 2024, and is expected to reach 1.47 billion USD by 2030, growing at a CAGR of 16.56% during the forecast period (2024-2030).
0.59 Billion
Market Size in 2024 (USD)
1.47 Billion
Market Size in 2030 (USD)
12.22 %
CAGR (2017-2023)
16.56 %
CAGR (2024-2030)
Largest Segment by Fuel Category
49.25 %
value share, HEV, 2023
HEVs lead the fuel category due to their widespread adoption, offering a balance between traditional internal combustion engines and electric power, resulting in improved fuel economy.
Fastest-growing Segment by Fuel Category
23.95 %
Projected CAGR, FCEV, 2024-2030
FCEVs are experiencing the fastest growth driven by technological advancements in hydrogen fuel cells, increased government incentives, and growing consumer awareness of environmental sustainability.
Largest Segment by Country
57.90 %
value share, US, 2023
The US is the largest segment by country due to its extensive commercial vehicle market, significant consumer demand, and robust infrastructure supporting a wide variety of fuel types.
Leading Market Player
24.32 %
market share, Proterra INC., 2023
Domestic production, the largest energy storage of any 40-foot electric bus in North America, and the offering of pure electric bus models keep Proterra as a leading player in the electric bus market.
Second leading Market Player
16.61 %
market share, NFI Group Inc., 2023
With more than 3,500,000 sq. ft. of manufacturing space, 14 ZEB-capable production facilities, and the capability to generate up to 8,000 units annually, NFI is the market leader in North America.
The North American electric bus market is inclining toward sustainable public transportation
- By 2027, the North American electric bus market is projected to surpass USD 850 million in market share. Both the US and Canadian governments are actively devising plans to establish robust charging infrastructure across the region. In June 2021, the Federal Transit Administration (FTA), a division of the US Department of Transportation, granted awards totaling approximately USD 182 million. These incentives are expected to be utilized by around 49 electric bus projects spanning 46 states.
- Key players in the North American electric bus market include Daimler, Volvo, Scania AB, BYD Company Limited, and GreenPower Motor Company Inc. To enhance battery performance across various capacities (below 100 kWh, 100-300 kWh, and above 300 kWh), manufacturers are employing innovative technologies. Seating capacity classifications for electric buses include less than 40, 40-70, and over 70, catering to both intercity and intracity travel.
- Currently, there are approximately 386,000 electric buses in operation globally, with China accounting for a staggering 99% and the US lagging behind at less than 0.1% (a mere 350 buses). Projections indicate that by 2030, 84% of new municipal bus sales will be electric, and by 2025, half of the global municipal bus fleet will be electric. Estimates suggest that by 2040, 80% of metropolitan bus fleets (excluding intercity and charter buses) and 33% of all cars worldwide will be electric. With their shorter travel distances and the convenience of recharging at central depots, city buses are an ideal fit for electric power. While battery-charged electric buses typically offer a driving range of 70-100 miles, some models can go up to 265 miles before requiring a recharge (in contrast, diesel buses average a range of 690 miles).
Understand The Key Trends Shaping This Market
Environmental concerns and the need to reduce carbon emissions have pushed governments and transportation authorities to adopt cleaner and more sustainable modes of transportation
- The demand for electric buses in the North American region is growing significantly. The United States is one of the top countries with the highest sales of electric buses, followed by Canada and Mexico. Factors such as expanding populations, rising traffic, and a change in priorities for using public transit are contributing to the growth of electric buses in the region.
- The electric bus market faced a setback during the COVID-19 pandemic, which brought the transportation sector to a standstill. However, as the region emerged from the pandemic, there was a notable uptick in public transportation demand, positively impacting the electric bus market. Consequently, North America saw a rise in electric bus sales in 2022 compared to 2021.
- By 2027, the market value of electric buses in North America is projected to exceed USD 850 million. Both the United States and Canadian governments are devising plans to establish robust charging infrastructure across the region. In June 2021, the Federal Transit Administration (FTA), a division of the US Department of Transportation, awarded approximately USD 182 million. These funds are expected to benefit around 49 electric bus projects spanning 46 states. Through its Low-No Program, the FTA aims to facilitate the adoption of green technologies and fuels, assisting transportation organizations in procuring electric and hydrogen buses. These initiatives are poised to further propel the growth of the North American electric bus market in the future.
North America Electric Bus Industry Segmentation
BEV, FCEV, HEV are covered as segments by Fuel Category. Canada, Mexico, US are covered as segments by Country.
- By 2027, the North American electric bus market is projected to surpass USD 850 million in market share. Both the US and Canadian governments are actively devising plans to establish robust charging infrastructure across the region. In June 2021, the Federal Transit Administration (FTA), a division of the US Department of Transportation, granted awards totaling approximately USD 182 million. These incentives are expected to be utilized by around 49 electric bus projects spanning 46 states.
- Key players in the North American electric bus market include Daimler, Volvo, Scania AB, BYD Company Limited, and GreenPower Motor Company Inc. To enhance battery performance across various capacities (below 100 kWh, 100-300 kWh, and above 300 kWh), manufacturers are employing innovative technologies. Seating capacity classifications for electric buses include less than 40, 40-70, and over 70, catering to both intercity and intracity travel.
- Currently, there are approximately 386,000 electric buses in operation globally, with China accounting for a staggering 99% and the US lagging behind at less than 0.1% (a mere 350 buses). Projections indicate that by 2030, 84% of new municipal bus sales will be electric, and by 2025, half of the global municipal bus fleet will be electric. Estimates suggest that by 2040, 80% of metropolitan bus fleets (excluding intercity and charter buses) and 33% of all cars worldwide will be electric. With their shorter travel distances and the convenience of recharging at central depots, city buses are an ideal fit for electric power. While battery-charged electric buses typically offer a driving range of 70-100 miles, some models can go up to 265 miles before requiring a recharge (in contrast, diesel buses average a range of 690 miles).
| Fuel Category | |
| BEV | |
| FCEV | |
| HEV |
| Country | |
| Canada | |
| Mexico | |
| US |
Need A Different Region Or Segment?
North America Electric Bus Market Size Summary
The North America Electric Bus Market is experiencing significant growth, driven by increasing demand for sustainable public transportation solutions. The market is characterized by a strong focus on developing robust charging infrastructure, supported by government initiatives in the United States and Canada. Key players such as Daimler, Volvo, Scania AB, BYD Company Limited, and GreenPower Motor Company Inc. are actively enhancing battery performance and expanding their product offerings to cater to various travel needs. The market's expansion is further bolstered by government incentives and programs aimed at promoting green technologies, which are expected to play a crucial role in the adoption of electric buses across the region.
Despite challenges posed by the COVID-19 pandemic, which temporarily impacted the transportation sector, the market has shown resilience and is poised for substantial growth. The resurgence in public transportation demand has led to increased electric bus sales, with projections indicating a significant rise in market value over the coming years. The market is fairly consolidated, with major companies holding a substantial share. Initiatives such as federal rebates for electric vehicles and substantial investments by automakers like Volkswagen are expected to drive further growth, making electric buses an integral part of North America's public transit landscape.
North America Electric Bus Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Fuel Category
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1.1.1 BEV
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1.1.2 FCEV
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1.1.3 HEV
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1.2 Country
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1.2.1 Canada
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1.2.2 Mexico
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1.2.3 US
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North America Electric Bus Market Size FAQs
How big is the North America Electric Bus Market?
The North America Electric Bus Market size is expected to reach USD 585.46 million in 2024 and grow at a CAGR of 16.56% to reach USD 1.47 billion by 2030.
What is the current North America Electric Bus Market size?
In 2024, the North America Electric Bus Market size is expected to reach USD 585.46 million.
