What Is The Scope Of The Global Electric Mid- And Large (9-14m) Bus Market?
Electric mid-and large (9-14m) buses refer to buses that are powered by electricity and have lengths ranging from 9 to 14 meters. These buses offer a sustainable and environmentally friendly alternative to traditional diesel or gasoline-powered buses. These buses are increasingly being adopted by cities and transit authorities worldwide to promote sustainable urban mobility and reduce the environmental impact of public transportation systems.
Electric Mid- And Large (9-14m) Bus Global Market Report 2024 provides data on the global electric mid- and large (9-14m) bus market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The electric mid- and large (9-14m) bus market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Electric Mid- And Large (9-14m) Bus Market Expected To Grow In Size And Annual Rates?
The electric mid- and large (9-14m) bus market has grown rapidly, and it is set to grow from $7.66 billion in 2023 to $8.84 billion in 2024, at a CAGR of 15.4%. This growth is driven by environmental concerns, regulations, government policies, and increased demand for public transport. The market is projected to reach $15.83 billion by 2028, at a CAGR of 15.7%. The growth is expected to be propelled by electric drivetrain efficiency, government support, climate change mitigation efforts, public demand for clean transport, and advances in autonomous technology. Trends in the forecast period include advancements in battery technology, integration of smart features, and expansion of charging infrastructure.
What Main Forces Are Fueling Expansion In The Electric Mid- And Large (9-14m) Bus Market?
The growing demand for public transportation is projected to propel the electric mid- and large bus market. Public transportation systems are essential in urban areas, driven by demographic trends, economic factors, environmental needs, and technological progress. Mid- and large-sized electric buses (9-14 meters) play a critical role in addressing the increasing demand for efficient, sustainable transport. In 2022, the U.S. Metropolitan Transportation Authority reported that bus ridership increased by 11.2% from 2021, further emphasizing the need for electric buses to support growing transit needs.
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What Are The Primary Segments In The Global Electric Mid- And Large (9-14m) Bus Market?
The electric mid- and large (9-14M) bus market covered in this report is segmented –
1) By Propulsion: Fuel Cell Electric Vehicle (FCEV), Diesel, Gasoline, Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), Hybrid Electric Vehicle (HEV) And Plug-in Electric Vehicle (PEV), Battery Electric Vehicle (BEV), Lithium Iron Phosphate (LFP)
2) By Seating Capacity: 70 Seats And Above, Below 70 Seats
3) By Level Of Autonomy: Autonomous, Manual, Semi-Autonomous
4) By Application: Coaches, City Or Transit Bus, School Bus, Midi Bus
5) By End-Use: Private, Public
Which Key Trends Are Driving Changes In The Electric Mid- And Large (9-14m) Bus Market?
Key companies in the electric mid- and large (9-14m) bus market are innovating with hydrogen-powered fuel cell electric vehicles (FCEVs) to offer zero-emission alternatives to battery-electric buses. These vehicles convert hydrogen into electricity through fuel cells. For instance, in October 2023, Iveco Group N.V. and Hyundai Motor Company jointly introduced the IVECO BUS E-WAY H2, a 12-meter hydrogen-powered city bus. Equipped with a 310-kW motor, four hydrogen tanks, and a 69 kWh battery, it offers a range of 450 km. Its hybrid-mid power design maximizes battery and fuel cell efficiency, providing a sustainable transport solution for urban areas.
What Is The Leading Region In The Electric Mid- And Large (9-14m) Bus Market?
North America was the largest region in the electric mid- and large (9-14M) bus market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric mid- and large (9-14m) bus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
