Us Fully Electric Bus Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Fully Electric Bus Market was valued at USD 16.13 Billion in 2022 and is projected to reach USD 35.84 Billion by 2030, growing at a CAGR of 10.7% from 2024 to 2030.
The US Fully Electric Bus Market is experiencing remarkable growth as the demand for sustainable transportation solutions rises. With advancements in electric vehicle (EV) technology, cities across the United States are embracing fully electric buses as an eco-friendly alternative to traditional diesel-powered buses. This transition is part of a broader effort to reduce greenhouse gas emissions and improve air quality in urban areas.
As of recent reports, the US electric bus market is projected to grow at a robust pace, driven by government incentives, technological advancements, and the increasing focus on sustainability in public transportation systems. In 2023, the market value was estimated at over USD 2 billion, and it is expected to reach nearly USD 8 billion by 2030, demonstrating an annual growth rate of more than 20%. These figures reflect the increasing adoption of electric buses in both urban and rural regions.
The shift to electric buses in the US is largely fueled by federal policies such as the Clean Energy Plan and various state-level initiatives that encourage the replacement of aging fleets with cleaner, more energy-efficient vehicles. For instance, the Biden administration has committed to investing in electric buses, with a $5 billion investment plan under the Bipartisan Infrastructure Law. Additionally, local municipalities are also introducing their own funding programs to help offset the cost of electric buses.
Key players in the market, such as Proterra, New Flyer, and BYD, have been instrumental in the development and production of electric buses. These companies are utilizing advanced battery technology to extend the range and improve the efficiency of their buses, ensuring that electric vehicles are not only environmentally friendly but also reliable and cost-effective for transit agencies.
The benefits of fully electric buses go beyond environmental concerns. The operational cost of an electric bus is significantly lower than that of a traditional diesel-powered bus. Electric buses have fewer moving parts, resulting in reduced maintenance costs and a longer lifespan. Moreover, the cost of charging infrastructure has been steadily decreasing, making it more affordable for transit authorities to deploy these buses on a wide scale.
With increasing awareness of environmental issues and the urgency of reducing carbon emissions, electric buses are becoming a key solution for future-proofing public transportation in the US. The US Fully Electric Bus Market is poised for significant expansion, offering both opportunities and challenges as it continues to grow and evolve.
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Dongfeng Motor Corporation
Yutong Bus
Daimler Truck
Geely Automobile
BYD
Xiamen King Long Motor Group
Beiqi Foton Motor
Chongqing Ruichi
Zhongtong Bus
New Flyer
Hunan CRRC Times Electric Vehicle
Traton
Volvo Trucks
Chery
Solaris Bus & Coach
Proterra
VDL Bus & Coach
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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 Fully Electric Bus Market
Single Deck Buses
Double Deck Buses
Midibus
Shuttle Buses
Coach Buses
Public Transportation
School Transportation
Corporate Transportation
Airport Shuttle Services
Tourism and Recreational Services
Lithium-ion Battery
Lithium Iron Phosphate (LiFePO4)
Solid-State Battery
Nickel Manganese Cobalt (NMC)
Sodium-ion Battery
Depot Charging
Opportunity Charging
Wireless Charging
Fast Charging Stations
Standard Charging Stations
Government Entities
Private Bus Operators
Transport Agencies
Educational Institutions
Corporate Fleets
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 Fully Electric Bus 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 Fully Electric Bus Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Fully Electric Bus Market, By Type
6. Global Fully Electric Bus Market, By Application
7. Global Fully Electric Bus Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Fully Electric Bus Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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