The electric mid- and large (9-14m) bus market is on a rapid growth path, expected to rise from $7.66 billion in 2023 to $8.84 billion in 2024, reflecting a CAGR of 15.4%. This growth is driven by urbanization and increased public transport demand. By 2028, the market could reach $15.83 billion, exhibiting a CAGR of 15.5%. Key trends include advancements in electric drivetrain efficiency and integration of smart features.
Major Driver In The Electric Mid And Large 9 14m Bus Market
The increasing demand for public transportation is projected to fuel the electric mid- and large (9-14m) bus market. Public transportation systems are essential for managing urban mobility, driven by demographic trends and environmental concerns. Electric mid- and large-sized buses enhance public transit capacity and sustainability. The Metropolitan Transportation Authority reported that total annual bus ridership in the US grew from 71.4 million rides in 2021 to 82.6 million in 2022, while subway ridership increased from 75.9 million to 1.01 billion rides in the same period. This growing demand for public transport supports the electric mid- and large bus market.
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Electric Mid And Large 9 14m Bus Market Competitive Landscape
BYD Company Ltd., Daimler Truck AG, Tata Motors, AB Volvo, CRRC Zhuzhou Locomotive Co. Ltd., Cummins Inc., Transdev, Yutong Bus Co. Ltd., NFI Group, Blue Bird Corporation, Solaris Bus & Coach sp. z o.o., Nova Bus, VDL Bus & Coach, Proterra Inc., Anhui Ankai Automobile Co. Ltd., Lion Electric Co., Pelican Engineering Group, GreenPower Motor Company, Jefferson Transit Authority, Eicher Motors Limited
Key Electric Mid And Large 9 14m Bus Market Trend
The electric mid- and large (9-14m) bus market is seeing the introduction of hydrogen-powered fuel cell electric vehicles (FCEVs) as an alternative zero-emission solution. In October 2023, Iveco Group N.V. and Hyundai Motor Company launched the IVECO BUS E-WAY H2, a 12-meter hydrogen-powered city bus. This bus features a 310-kW electric motor and a 69 kWh battery pack, offering a driving range of 450 km and advanced fuel cell technology.
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Electric Mid And Large 9 14m Bus Market Segmentation
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
By Geography:The regions covered in the electric mid- and large (9-14m) bus market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the electric mid- and large (9-14M) bus market in 2023.
The Electric Mid And Large 9 14m Bus Global Market Report 2024 furnishes information about the global electric mid and large 9 14m bus market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
