How is the Electric Mid- And Large (9-14m) Bus Market Poised for Growth: Trends and Opportunities Through 2034
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How has the electric mid- and large (9-14m) bus market grown over the years?
The electric mid- and large (9-14m) bus market has expanded rapidly in recent years. It will grow from $8.84 billion in 2024 to $10.25 billion in 2025, at a CAGR of 16.0%. The growth is driven by concerns over environmental impact, government policies and incentives, urbanization, and increasing demand for public transportation.
What Is the forecasted market size and growth rate for the electric mid- and large (9-14m) bus market?
The electric mid- and large (9-14m) bus market is expected to see rapid growth, reaching $18.28 billion by 2029 at a CAGR of 15.6%. This growth is driven by electric drivetrain efficiency, government incentives, climate change mitigation efforts, public demand for clean transport, and autonomous technology. Trends include battery technology advancements, smart feature integration, and expanded charging infrastructure.
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What are the major factors driving growth in the electric mid- and large (9-14m) bus market?
The growing demand for public transportation is expected to drive the expansion of the electric mid- and large (9-14m) bus market. This demand is driven by demographic trends, environmental concerns, and technological advancements. Electric mid- and large-sized buses are essential for meeting the increasing need for efficient public transportation. For example, in 2022, the Metropolitan Transportation Authority reported a rise in U.S. bus ridership from 71.4 million rides in 2021 to 82.6 million in 2022. This growth in public transportation demand is driving the electric mid- and large bus market.
What key areas define the segmentation of the global electric mid- and large (9-14m) bus Market?
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
Subsegments:
1) By Fuel Cell Electric Vehicle (Fcev): Proton Exchange Membrane Fuel Cells (Pemfc), Solid Oxide Fuel Cells (Sofc)
2) By Diesel: Standard Diesel Buses, Low Emission Diesel Buses
3) By Gasoline: Standard Gasoline Buses, Low Emission Gasoline Buses
4) By Compressed Natural Gas (Cng): Cng Buses For Urban Transport, Cng Buses For Intercity Routes
5) By Liquefied Natural Gas (Lng): Lng Buses For Long-Distance Routes, Lng Buses For High Capacity Urban Routes
6) By Hybrid Electric Vehicle (Hev) And Plug-In Electric Vehicle (Pev): Hev (Hybrid), Pev (Plug-In Hybrid)
7) By Battery Electric Vehicle (Bev): Standard Battery Electric Buses, Fast Charging Battery Electric Buses, Overnight Charging Battery Electric Buses
8) By Lithium Iron Phosphate (Lfp): Lfp Battery-Powered Buses For Urban Transport, Lfp Battery-Powered Buses For Long-Distance Routes
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What are the top market players propelling the growth of the electric mid- and large (9-14m) bus industry?
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
What are the key trends shaping the future of the electric mid- and large (9-14m) bus market?
Major companies in the electric mid- and large (9-14m) bus market are focusing on developing hydrogen-powered fuel cell electric vehicles (FCEVs) to provide a zero-emission alternative to battery-electric buses. In October 2023, Iveco Group N.V., an Italian automobile company, and Hyundai Motor Company, a South Korean automotive manufacturer, launched the IVECO BUS E-WAY H2, a 12-meter hydrogen-powered fuel cell city bus. The bus features a hybrid-mid power concept, a 310-kW electric motor, four hydrogen tanks, and a 69 kWh battery pack, providing a 450 km driving range.
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What regions are dominating the electric mid- and large (9-14m) bus market growth?
North America was the largest region in the electric mid- and large (9-14M) bus market in 2024. 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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