Electric Bus Motor Market was valued at USD 2.8 Billion in 2022 and is projected to reach USD 12.1 Billion by 2030, growing at a CAGR of 20.8% from 2024 to 2030.
n India, the electric bus market size reached US$ 305.2 million in 2023.ooking forward, it is expected to reach US$ 1,774 million by 2032, exhibiting a growth rate (CAGR) of 20.50% during 2024-2032.citeturn0search1 he adoption of electric buses has been propelled by several factors: - **Government Initiatives**: olicies and subsidies have encouraged the shift from traditional diesel buses to electric alternatives. - **Technological Advancements**: mprovements in battery technology have enhanced the efficiency and range of electric buses. - **Environmental Concerns**: growing emphasis on reducing urban air pollution has made electric buses a preferred choice for public transportation. etween 2018 and 2022, the market witnessed: - **Increased Production**: anufacturers ramped up production to meet the rising demand. - **Infrastructure Development**: xpansion of charging facilities to support the growing fleet of electric buses. - **Cost Reduction**: eclining battery prices made electric buses more economically viable. ooking ahead to the demand forecast from 2023 to 2033, the market is poised for substantial growth: - **Projected Market Size**: he global electric bus market is anticipated to reach USD 110.44 billion by 2030, expanding at a CAGR of 12.1% from 2024 to 2030.citeturn0search0 - **Regional Growth**: ountries like India are expected to see significant increases in electric bus adoption, driven by government support and urbanization. - **Technological Innovations**: ngoing research and development are likely to yield more efficient and cost-effective electric bus motors. n my experience, the transition to electric buses has been transformative for urban transportation systems.he quiet operation and zero-emission profile of these vehicles have not only improved air quality but also enhanced the passenger experience.s cities continue to prioritize sustainable mobility solutions, the demand for electric bus motors is expected to remain robust well into the next decade.
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The electric bus motor market has experienced significant growth between 2018 and 2022, driven by technological advancements and increased environmental awareness. uring this period, the global electric bus market size was valued at 246,089 units in 2023 and is projected to grow from 279,236 units in 2024 to 1,064,250 units by 2032, exhibiting a CAGR of 18.2% during the forecast period.citeturn0search4
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Fukuta
BYD
Broad Ocean
ZF Friedrichshafen AG
Bosch
Jing-Jin Electric (JJE)
Anhui JEE
Mitsubishi Motors Corporation
Hitachi
USES
HASCO
MAGNA
Shenzhen Greatland Electrics Inc Hepu Power
Zhejiang Founder Motor Co.
Ltd
Zhuhai Inpower
Denso
Tesla Motors
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Bus Motor Market
PHEV
BEV
Based on Types the Market is categorized into Below types that held the largest Electric Bus Motor market share In 2023.
Permanent Magnet Synchronous Motor
Asynchronous Motor
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electric Bus Motor Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Bus Motor Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Bus Motor Market, By Type
6. Global Electric Bus Motor Market, By Application
7. Global Electric Bus Motor Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Bus Motor Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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