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Electric Bus Market Share

Report ID: GMI4959
Published Date: Apr 2024
Report Format: PDF

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Electric Bus Market Share

Yutong and Traton held significant market share of over 20% market share in 2023. Yutong, a Chinese electric bus manufacturer, focuses on innovation and sustainability by developing advanced battery technologies and expanding its global presence through strategic partnerships. Traton, another prominent player, emphasizes product diversification and customer-centric solutions, offering a range of electric buses tailored to meet diverse transportation needs while prioritizing energy efficiency and environmental responsibility to stay competitive in the evolving electric bus market.

Manufacturers like Proterra and BYD are pioneering advanced battery technologies and efficient electric drivetrains, improving bus performance and range. Additionally, companies are partnering with governments and municipalities to develop charging infrastructure and offer financing options. These efforts, combined with rising environmental concerns, are boosting the demand for electric buses worldwide. As a result, the market is experiencing substantial growth, fueled by companies' targeted initiatives and innovations.

Electric Bus Market Companies

Major companies operating in the electric bus industry are:

Anhui Ankai Automobile Co., Ltd
BYD. Ltd.
MAN Bus
NFI Group
Proterra
Scania AB
Solaris Bus & Coach
VDL Bus & Coach
Volvo
Yutong Bus Co. Ltd.
Zhongtong Bus Co. Ltd.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric bus reached USD 81.3 billion in 2023 and will grow at over 14% CAGR between 2024 and 2032, led by rising partnerships and deals between leading companies.

The all-electric propulsion segment held over 45% of the market share in 2023, as they offer zero-emission solutions to combat air pollution and reduce carbon footprints.

Asia Pacific electric bus industry held a revenue share of over 90% in 2023, driven by rapid urbanization and increasing environmental concerns.

Anhui Ankai Automobile Co., Ltd, BYD. Ltd., MAN Bus, NFI Group, Proterra, Scania AB, Solaris Bus & Coach, VDL Bus & Coach, Volvo, and Yutong Bus Co. Ltd. among others.