Automotive Electric Bus Market to Proliferate at Double-Digit CAGR during the Forecast Period

Market Research Future (MRFR) has published on the “Global automotive electric bus market ”.

The automotive electric bus market is estimated to register a CAGR of 36.6% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global automotive electric bus market— MAN, Volvo, Yutong, BYD, Proterra, VDL GROEP, Mercedes Benz AG, NFI group, EBUSCO, and Zhong tong Bus Holding and others.

Market Highlights

The global automotive electric bus market is accounted for to register a CAGR of 36.6% during the forecast period and is estimated to reach USD  4499850.6  million by 2032.

Increasing concerns over air pollution and climate change have led to the implementation of stricter emission standards and regulations by governments worldwide. Electric buses offer a cleaner and greener alternative to traditional diesel or gasoline-powered buses, helping cities and governments meet their sustainability goals. Several governments around the world are providing incentives & subsidies to encourage the adoption of electric buses. These incentives can include financial assistance for purchasing electric buses, tax breaks, and grants for charging infrastructure development. Such support has stimulated the demand for electric buses, especially in urban areas. Electric buses have lower operating costs compared to conventional buses. Although electric buses have a higher upfront cost, they have lower fuel and maintenance expenses over their lifetime. Electric buses benefit from lower electricity prices compared to fossil fuels, and they require less maintenance due to fewer moving parts and simplified drivetrains. Thus, the combination of environmental concerns, cost savings, government support, and the need for sustainable transportation solutions are driving the growth of the global automotive electric bus market.

Segment Analysis

The global automotive electric bus market has been segmented based on type, propulsion, and length.

Based on type, the global automotive electric bus market is segmented into single-decker and double-decker. The single-decker held the majority share in 2022, contributing around ~79.05% to the market revenue. Single-decker is segmented into school bus, trolley bus, midi bus, intercity bus, coaches, city bus, and others. A single-decker bus, often known as a single-decker bus, is a vehicle with only one passenger deck.

Based on propulsion, the global automotive electric bus market is segmented into Battery Electric Vehicle (BEV), Plug-in hybrid electric vehicles (PHEV), and Fuel cell electric vehicles (FCEV). The Battery Electric Vehicle (BEV) segment held the majority share in 2022.

Based on length, the global automotive electric bus market is segmented into 6 to 8m, 9 to 12m, and Above 12m. The 9 to 12m segment held the majority share in 2022.

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Regional Analysis

The global automotive electric bus market, based on region, has been divided into the into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America consists of US, Canada, and Mexico. The Europe automotive electric bus market comprises of Germany, France, the UK, Italy, Russia, and the rest of Europe. The Automotive electric bus market in Asia-Pacific has been segmented into China, India, Japan, South Korea, and the rest of Asia-Pacific. The South America, automotive electric bus market comprises of Brazil, Argentina, and rest of South America.

Several countries in the Asia-Pacific region, such as China, India, and South Korea, have implemented ambitious targets and supportive policies to promote electric vehicles, including electric buses. These governments provide financial incentives, subsidies, and favourable regulations to encourage the adoption of electric buses, leading to significant market growth.

Europe has made significant investments in charging infrastructure development. The availability of a well-established network of charging stations, including fast-charging options, has increased the confidence of fleet operators in adopting electric buses.

North American electric bus manufacturers have formed strategic partnerships with technology companies, such as Proterra's collaboration with LG Chem and BYD's collaboration with Berkshire Hathaway's subsidiary, MidAmerican Energy. These partnerships have accelerated innovation, improved battery technology, and increased the competitiveness of electric buses in the market.

Key Findings of the Study

• The global automotive electric bus market is expected to reach USD 4499850.6 million by 2032, at a CAGR of 36.6% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. In Asia-Pacific, the electric bus market has been pushed by the need to reduce urban pollution and reliance on fossil fuels, as well as to expand national government initiatives toward clean public transportation.


• Based on propulsion, Battery Electric Vehicle (BEV) segment had the largest global market revenue share, with an approximate market share of 60.7%.


• MAN, Volvo, Yutong, BYD, Proterra, VDL GROEP, Mercedes Benz AG, NFI group, EBUSCO, and Zhong tong Bus Holding are the key market players.