Electric Bus Market Analysis

Autonomy (Semi-Autonomous, Autonomous)

The global electric bus market is segmented and analyzed for demand and supply by autonomy segment into semi-autonomous and autonomous. Amongst these segments, the autonomous segment is anticipated to garner the largest revenue by the end of 2037, backed by the increasing use of self-driving vehicles across many cities along with the rising number of new purchases to avoid road accidents. Further, it is estimated that autonomous vehicles attribute to approximately 10% of total car registrations occurring by the end of the year 2030 across the globe. The increasing number of road accidents owing to manual errors and high speed is estimated to project the growth of the market’s segment as per the market analysis. The rising penetration of the internet and growing digitalization across the world is increasing the demand for self-driven vehicles or intelligent vehicles. The increasing concern for safety among people, and the convenience offered by autonomous cars are expected to rise the segment’s growth in the coming years.

Propulsion Type {Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)}

The global electric bus market is also segmented and analyzed for demand and supply by the propulsion type into battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). Among these, the battery electric vehicle (BEV) segment is estimated to garner significant growth. The rising number of government initiatives to reduce fuel emissions into the environment, public concern to purchase eco-friendly products, and increasing investment in the research and advancement of battery electric vehicles are projected to propel the market’s segment growth. The growth of battery vehicles in turn increases the growth of the global electric bus market. The battery can be rechargeable at power stations, which improves the efficiency of the vehicles. The battery powered vehicles decrease the cost of maintenance and increase profit for the manufacturer and consumer. The number of battery electric vehicles used across the world in the year 2021 as per the statistical estimations was more than 11 million.

Our in-depth analysis of the global market includes the following segments: