Electric Mid- And Large (9-14m) Bus Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

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Overview and Scope

The electric mid-and large (9-14m) buses market also consists of sales of battery electric buses, plug-in hybrid electric buses, fuel cell electric buses, and trolleybuses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast

The electric mid- and Large (9-14m) bus market size has grown rapidly in recent years. It will grow from $7.66 billion in 2023 to $8.84 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to environmental concerns and regulations, government policies and incentives, urbanization and public transport demand.

The electric mid- and Large (9-14m) bus market size is expected to see rapid growth in the next few years. It will grow to $15.83 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to electric drivetrain efficiency, government support and incentives, climate change mitigation, public demand for clean transport, and autonomous technology. Major trends in the forecast period include advancements in battery technology, integration of smart features, and expansion of charging infrastructure.

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Segmentation & Regional Insights

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

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.

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Major Driver Impacting Market Growth

The increasing demand for public transportation is expected to propel the growth of the electric mid- and large (9-14m) bus market going forward. Public transportation, also known as public transit or mass transit, refers to various modes of transportation available to the public that operate on set routes and schedules. The increasing demand for public transport is driven by a combination of demographic trends, environmental imperatives, economic considerations, technological advancements, and changes in societal attitudes. Mid- and large-sized buses (9-14 meters) are pivotal in enhancing public transportation systems’ capacity, efficiency, and sustainability. Their ability to transport large numbers of passengers, coupled with the benefits of modern electric bus technology, makes them an indispensable asset in meeting the growing demand for public transport in urban and suburban areas. For instance, according to the Metropolitan Transportation Authority, a US-based transportation network, the total annual bus ridership in the US increased from 71.4 million rides in 2021 to 82.6 million in 2022. Further, the total yearly subway ridership in the US increased from 75.9 million in 2021 to 1.01 billion rides in 2022. Therefore, increasing demand for public transportation is driving the growth of the electric mid- and large (9-14m) bus market.

Key Industry Players

Major companies operating in the electric mid- and large (9-14M) bus market are 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

The electric mid- and large (9-14m) bus market report table of contents includes:

1. Executive Summary
2. Electric Mid- And Large (9-14m) Bus Market Characteristics
3. Electric Mid- And Large (9-14m) Bus Market Trends And Strategies
4. Electric Mid- And Large (9-14m) Bus Market – Macro Economic Scenario
5. Global Electric Mid- And Large (9-14m) Bus Market Size and Growth
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32. Global Electric Mid- And Large (9-14m) Bus Market Competitive Benchmarking
33. Global Electric Mid- And Large (9-14m) Bus Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electric Mid- And Large (9-14m) Bus Market
35. Electric Mid- And Large (9-14m) Bus Market Future Outlook and Potential Analysis
36. Appendix