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Electric Bus Market by Propulsion (BEV, FCEV), Battery (LFP, NMC, NCA), Length (<9, 9-14, >14m), Battery Capacity (=400 & >400kWh), Application, Seating Capacity, Range, Power Output, Autonomy Level, Component, Consumer and Region - Global Forecast to 2032

出版商 MarketsandMarkets產業別 Automotive & Transportation出版日期 2025-09-19頁數 430報告編號 AT7483

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報告摘要

The electric bus market is projected to grow from USD 23.80 billion in 2025 to USD 59.60 billion by 2032, at a CAGR of 14.0%. The global electric bus market is experiencing consistent growth, driven by government support and significant technological advancements. Improvements in battery energy density and charging speeds address concerns like range anxiety and allow electric buses to match the operational performance of diesel fleets. Developing advanced battery management systems and adopting LFP battery chemistry enhances safety, longevity, and efficiency. Additionally, the total cost of ownership (TCO) is one of the critical factors driving the demand for electric buses as they have lower fuel and maintenance costs over the vehicle's lifecycle. “The government sector is estimated to generate the largest demand for electric buses in 2025.” Electric buses are poised to have significant applications in the government sector, primarily through public transit fleets, due to large-scale subsidies and mandates that enable widespread deployment for urban and intercity routes. National and city-level governments actively push local transport authorities to procure electric buses through subsidies, binding regulations, and fleet replacement mandates. For instance, China's government has subsidized electric bus fleets in Shenzhen, resulting in over 16,000 public e-buses operated by municipal companies like Shenzhen Bus Group. In India, the FAME-II scheme provides ₹20-40 lakh subsidies per e-bus for state transport undertakings, leading to 7,120 public e-buses procured for municipal fleets like BEST in Mumbai, targeting 50,000 e-buses nationwide by 2027. The US Federal Transit Administration's USD 1.7 billion allocation under the Bipartisan Infrastructure Law has funded over 1,300 zero-emission public transit buses, as seen in Beaverton School District's 28 e-school buses, covering 70% of Oregon's public-school electric bus fleet. In Europe, the EU's Clean Bus Deployment Initiative has driven 7,779 e-bus registrations in 2024 for public operators like Hochbahn in Hamburg, with subsidies for zero-emission fleets achieving 100% electrification targets by 2030. In contrast, private sector applications, such as corporate shuttles or delivery fleets, remain niche but lag due to higher upfront costs without equivalent government support. Private companies in the Netherlands operate public buses under government contracts; the scale and funding favor government-led initiatives, with private adoption limited to specialized uses like airport shuttles, where e-buses save USD 125,000 in maintenance over diesel counterparts but require custom infrastructure. “The fuel cell electric bus market is projected to witness a positive growth rate during the forecast period.” Fuel-cell electric buses (FCEVs) are gaining attention as a counterpart to battery electric buses (BEVs), especially for longer routes and regions with limited charging infrastructure. According to an electric bus magazine, in Europe, registrations of FCEV buses increased from 207 in 2023 to 378 in 2024, an 82% jump, yet they still represent only about 4.6% of zero-emission buses. Major supply contracts related to FCEV buses include the public transport company (TPER) in Bologna, Italy, placing an order for 130 Solaris Urbino 12 hydrogen buses in late 2023, with deliveries planned from 2026. In the UK, Liverpool city introduced 20 Alexander Dennis Enviro400FCEVs in 2023, while Wrightbus (UK) delivered its Hydroliner FCEV double-decker buses to Cologne in 2024. In Asia, Hyundai’s Elec City FCEV has been commercially available since 2019 and has surpassed 1,000-unit sales in South Korea by September 2024. In India, the first hydrogen fuel-cell bus entered service in Ladakh in early 2025, marking an important milestone in challenging terrain. The benefits of fuel cell buses compared to BEVs lie in their fast-refueling times and extended driving range, which make them better suited for intercity and regional services. However, FCEVs are less energy efficient, converting only 60 to 70% of energy compared to 85 to 90% for BEVs. These buses are also twice to three times as expensive as BEV buses. A 2023 study in Bolzano, Italy, found that the running costs of FCEBs were more than twice those of battery buses, primarily due to hydrogen production, distribution, and fueling infrastructure costs. This cost gap explains why only governments and public transport agencies opt for FCEVs rather than private operators. “North America is projected to be one of the major electric bus markets.” North America, particularly the US and Canada, is emerging as one of the most important markets for electric buses during the forecast period. In the US, the electric school bus segment is leading the transition from diesel to electric buses. This is backed by the EPA’s Clean School Bus Program, which is providing USD 5 billion in funding till 2026 to support the replacement of diesel school buses with electric alternatives. By late 2024, the EPA had awarded grants for nearly 12,000 electric school buses across 1,000 school districts, making it the region's most significant single driver of demand. Transit agencies are also improving adoption, supported by the Federal Transit Administration’s Low-No Emission Vehicle Program (Low-No Program), which allocated USD 1.7 billion in 2023 and is expected to continue distributing funds through 2025 for zero-emission transit buses and charging infrastructure. Canada is following a similar path, with the Zero Emission Transit Fund (ZETF) providing USD 2 billion in support till 2026 to help municipalities procure electric transit buses and build charging facilities. As of 2024, more than 700 electric buses have been sold in Canada, which is expected to increase further in 2025. These federal and state-level incentives are positioning the US and Canada as leaders in e-bus adoption in North America. While China and Europe still dominate in overall sales of electric buses, North America’s focus on electrifying both school buses is a unique regional characteristic. The break-up of the profile of primary participants in the electric bus market is as follows: • By Company Type: Electric Bus OEM – 90%, Tier 1 – 10% • By Designation: C Level – 60%, Director-level – 30%, Others - 10% • By Region: North America– 10%, Europe – 40%, Asia Pacific – 50% Prominent companies include BYD Company Ltd. (China), Yutong Co., Ltd. (China), Xiamen King Long (China), CRRC Corporation Limited (China), and Zhejiang Geely Holding Group (China), which are the leading manufacturers of electric buses in the global market. Research Coverage: The study segments the electric bus market and forecasts the market size based on propulsion (BEVs, FCEVs), range (up to 300 miles, above 300 miles), the length of the bus (less than 9 m, 9-14 m, more than 14m), consumer (private, government), application (transit buses, coaches, school buses, and others), battery capacity (up to 400 kWh, Above 400 kWh), component (motors, batteries, fuel cell stacks, battery management systems, battery cooling systems, DC-DC converters, inverters, AC/DC chargers, EV connectors), the level of autonomy (semi-autonomous, autonomous), power output (up to 250 kW, above 250 kW), seating capacity (up to 40 seats, 40-70 seats, above 70 seats), by GVW (Up to 10 tonnes, 10 to 20 tonnes and above 20 tonnes), and region (Asia Pacific, North America, Middle East & Africa [MEA], Europe, and Latin America). This report covers the competitive analysis of upcoming startups/SMEs in the electric bus market ecosystem. Reasons to buy this report: The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall electric bus market and the subsegments. The report includes a comprehensive market share analysis, supply chain analysis, extensive lists and insights into component manufacturers, chapter segmentation based on materials, a thorough supply chain analysis, and a competitive landscape. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities. The report provides insights into the following points: • Analysis of key drivers (rising GHG emissions, government incentives and policies, overall targets to reduce fleet-level emissions and increasing demand for emission-free vehicles), restraints (CNG and biofuel buses slowing the adoption of electric buses, safety concerns in EV batteries and high development cost), opportunities (development of advanced battery technologies, transition towards hydrogen fuel cell electric mobility), and challenges (high cost of developing charging infrastructure) influencing the growth of the electric bus market • Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities, and product & service launches in the electric bus market • Market Development: Comprehensive information about lucrative markets (the report analyzes the electric bus market across varied regions) • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric bus market • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the electric bus market, such as BYD Company Ltd. (China), Yutong Co., Ltd. (China), Xiamen King Long (China), CRRC Corporation Limited (China), and Zhejiang Geely Holding Group (China) The report also helps stakeholders understand the pulse of the electric bus market by providing them with information on key market drivers, restraints, challenges, and opportunities.
目錄 Table of Contents
1 INTRODUCTION 33 1.1 STUDY OBJECTIVES 33 1.2 MARKET DEFINITION 34 1.3 STUDY SCOPE 34 1.3.1 MARKET SEGMENTATION AND REGIONAL SNAPSHOT 34 1.3.2 INCLUSIONS AND EXCLUSIONS 35 1.4 YEARS CONSIDERED 36 1.5 CURRENCY CONSIDERED 36 1.6 STAKEHOLDERS 37 1.7 SUMMARY OF CHANGES 38 2 RESEARCH METHODOLOGY 39 2.1 RESEARCH DATA 39 2.1.1 SECONDARY DATA 41 2.1.1.1 Key secondary sources 41 2.1.1.2 Key data from secondary sources 42 2.1.2 PRIMARY DATA 42 2.1.2.1 Primary participants 43 2.2 MARKET SIZE ESTIMATION 45 2.2.1 BOTTOM-UP APPROACH 45 2.3 DATA TRIANGULATION 47 2.4 FACTOR ANALYSIS 48 2.5 RESEARCH ASSUMPTIONS AND RISK ASSESSMENT 49 2.6 RESEARCH LIMITATIONS 51 3 EXECUTIVE SUMMARY 52 4 PREMIUM INSIGHTS 56 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC BUS MARKET 56 4.2 ELECTRIC BUS MARKET, BY PROPULSION 56 4.3 ELECTRIC BUS MARKET, BY RANGE 57 4.4 ELECTRIC BUS MARKET, BY COMPONENT 57 4.5 ELECTRIC BUS MARKET, BY CONSUMER 58 4.6 ELECTRIC BUS MARKET, BY BATTERY CAPACITY 58 4.7 ELECTRIC BUS MARKET, BY BATTERY TYPE 59 4.8 ELECTRIC BUS MARKET, BY APPLICATION 59 4.9 ELECTRIC BUS MARKET, BY POWER OUTPUT 60 4.10 ELECTRIC BUS MARKET, BY LENGTH 60 4.11 ELECTRIC BUS MARKET, BY SEATING CAPACITY 61 4.12 ELECTRIC BUS MARKET, BY GVW 61 4.13 ELECTRIC BUS MARKET, BY REGION 62 5 MARKET OVERVIEW 63 5.1 INTRODUCTION 63 5.2 MARKET DYNAMICS 64 5.2.1 DRIVERS 65 5.2.1.1 Rising GHG emissions 65 5.2.1.1.1 Government incentives and policies 66 5.2.1.1.2 Target to reduce fleet-level emissions 68 5.2.1.2 Increasing demand for emission-free vehicles and decline in battery prices 68 5.2.2 RESTRAINTS 70 5.2.2.1 CNG and biofuel buses slowing adoption of electric buses 70 5.2.2.2 Safety concerns in EV batteries and high development costs 70 5.2.3 OPPORTUNITIES 73 5.2.3.1 Development of advanced battery technologies 73 5.2.3.2 Transition toward hydrogen fuel cell electric mobility 74 5.2.3.3 Emergence of charging services for electric buses 76 5.2.4 CHALLENGES 78 5.2.4.1 High cost of developing charging infrastructure 78 6 INDUSTRY TRENDS 80 6.1 IMPACT OF AI/GEN AI ON ELECTRIC BUS MARKET 80 6.2 TRADE ANALYSIS 80 6.2.1 IMPORT SCENARIO 80 6.2.2 EXPORT SCENARIO 83 6.3 ECOSYSTEM ANALYSIS 85 6.4 SUPPLY CHAIN ANALYSIS 87 6.5 TOTAL COST OF OWNERSHIP: DIESEL BUSES VS. ELECTRIC BUSES 88 6.5.1 COST COMPARISON: ELECTRIC BUSES VS. ICE BUSES 88 6.6 PRICING ANALYSIS 89 6.6.1 BY APPLICATION 89 6.6.2 BY PROPULSION 90 6.6.3 BY REGION 90 6.7 PATENT ANALYSIS 92 6.7.1 INTRODUCTION 92 6.8 REGULATORY LANDSCAPE 97 6.8.1 NORTH AMERICA 97 6.8.2 EUROPE 98 6.8.3 ASIA PACIFIC 99 6.8.4 LATIN AMERICA 100 6.8.5 MIDDLE EAST & AFRICA 100 6.8.6 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS, BY REGION 101 6.9 CASE STUDY ANALYSIS 105 6.9.1 COMPLETE TRANSITION TO ELECTRIC BUSES IN SHENZHEN, CHINA 105 6.9.2 ZENOBĒ HELPED STAGECOACH INCORPORATE CHARGING INFRASTRUCTURE AND INSTALL CUSTOM MANAGEMENT SOFTWARE SYSTEM 106 6.9.3 A COMPREHENSIVE ANALYSIS TO EVALUATE FINANCIAL FEASIBILITY OF DEPLOYING ELECTRIC BUS FLEETS THAT REDUCE EMISSIONS 106 6.9.4 ELECTRIC BUS DEPLOYMENT WITH INFRASTRUCTURAL CHANGES 108 6.9.5 HSL WAS AWARDED OPERATIONS BASED ON OPEN TENDERS UNDER CHARGING-AS-A-SERVICE (CAAS) BUSINESS MODEL 109 6.9.6 AI-POWERED SOFTWARE IMPLEMENTED TO HELP FLEET OPERATORS CHARGE ELECTRIC BUSES 109 6.9.7 HIGHLAND ELECTRIC FLEETS, IN PARTNERSHIP WITH NATIONAL GRID, PROVIDED ELECTRIC SCHOOL BUSES AND COORDINATED ITS PARTICIPATION IN V2G PROGRAM FOR SCHOOL BUSES 110 6.9.8 VERMONT ELECTRIC SCHOOL AND TRANSIT BUS PILOT PROGRAM IMPLEMENTED TO FACILITATE COST-EFFECTIVE ELECTRIFICATION 110 6.9.9 FLEET TEST & EVALUATION TEAM AT NREL SUPPORTED AVTA BY CONDUCTING ASSESSMENTS OF MEDIUM- AND HEAVY-DUTY VEHICLES, ELECTRIC BUSES, AND TROLLEYS 111 6.9.10 EVENERGI DEVELOPED FRAMEWORK TO DETERMINE OPTIMAL COMBINATION OF DEPOT LAYOUTS, CHARGER SPEEDS, AND CHARGER TYPES 111 6.10 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 112 6.11 BILL OF MATERIALS ANALYSIS 113 6.12 KEY CONFERENCES AND EVENTS, 2025–2026 114 6.13 KEY STAKEHOLDERS AND BUYING CRITERIA 114 6.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 115 6.13.2 BUYING CRITERIA 115 6.14 SUPPLIER ANALYSIS 116 6.14.1 MAJOR ELECTRIC BUS BATTERY CELL MANUFACTURERS 116 6.14.2 KEY ELECTRIC BUS AXLE MANUFACTURERS 117 6.14.3 KEY ELECTRIC BUS HVAC SYSTEM MANUFACTURERS 118 6.14.4 MAJOR ELECTRIC BUS MOTOR MANUFACTURERS 119 6.15 INVESTMENT AND FUNDING SCENARIO 119 7 OEM ANALYSIS 120 7.1 INTRODUCTION 120 7.2 ELECTRIC AND ICE BUS MODELS: LENGTH VS. NUMBER OF SEATS 120 7.3 ELECTRIC BUS MODELS: LENGTH VS. NUMBER OF SEATS 121 7.4 BATTERY CAPACITY VS. DRIVE RANGE VS. PAX 121 7.5 ELECTRIC BUS SALES BY OEMS, 2021–2025 123 7.6 ELECTRIC BUS DRIVE MOTOR SUPPLIERS, BY OEM AND REGION 124 7.7 ELECTRIC BUS BATTERY CELL SUPPLIERS, BY OEM AND REGION 125 7.8 ELECTRIC BUS, OEM-WISE INSTALLED BATTERY CAPACITIES, 2021–2025 (IN MWH) 126 8 TECHNOLOGY ANALYSIS 128 8.1 TECHNOLOGY ANALYSIS 128 8.1.1 FUTURE TECHNOLOGY OVERVIEW 128 8.1.2 TECHNOLOGY ROADMAP 129 8.2 KEY TECHNOLOGIES 129 8.2.1 AUTONOMOUS BUSES 129 8.3 ADJACENT TECHNOLOGIES 130 8.3.1 CHARGING AS A SERVICE 130 8.3.2 BATTERY AS A SERVICE 130 8.3.3 PACKAGED FUEL CELL SYSTEM MODULE 130 8.3.4 METHANE FUEL CELLS 131 8.4 COMPLEMENTARY TECHNOLOGIES 132 8.4.1 UPCOMING BATTERY TECHNOLOGIES 132 8.4.1.1 NMC4 132 8.4.1.2 Solid-state battery technology 132 8.4.1.3 Sodium-ion battery technology 132 8.4.2 INNOVATIVE CHARGING SOLUTIONS 133 8.4.2.1 Off-board top-down pantograph charging system 133 8.4.2.2 On-board bottom-up pantograph charging system 134 8.4.2.3 Ground-based static/dynamic charging system 134 9 ELECTRIC BUS MARKET, BY LENGTH OF BUS 135 9.1 INTRODUCTION 136 9.2 LESS THAN 9 M 137 9.2.1 EASY MANEUVERING ON COMPACT ROADS 137 9.3 9–14 M 139 9.3.1 SUITABLE FOR FULL-DAY OPERATIONS 139 9.4 MORE THAN 14 M 141 9.4.1 GROWING NUMBER OF ARTICULATED ELECTRIC BUSES TO DRIVE MARKET 141 9.5 KEY INDUSTRY INSIGHTS 142 10 ELECTRIC BUS MARKET, BY BATTERY TYPE 143 10.1 INTRODUCTION 144 10.2 NMC BATTERIES 146 10.2.1 INCREASED PREFERENCE FOR HIGH ENERGY DENSITY 146 10.3 LFP BATTERIES 148 10.3.1 DEMAND FOR LOW-COST AND GOOD THERMAL STABILITY 148   10.4 NCA BATTERIES 150 10.4.1 BENEFITS ASSOCIATED WITH HIGH ENERGY DENSITY AND LONG-LIFE CYCLE 150 10.5 OTHER BATTERIES 152 10.6 KEY INDUSTRY INSIGHTS 154 11 ELECTRIC BUS MARKET, BY BATTERY CAPACITY 155 11.1 INTRODUCTION 156 11.2 UP TO 400 KWH 157 11.2.1 DEPLOYMENT IN INTRACITY TRANSPORT TO PROPEL GROWTH 157 11.3 ABOVE 400 KWH 159 11.3.1 USED FOR LONG-DISTANCE COMMUTE 159 11.4 KEY INDUSTRY INSIGHTS 161 12 ELECTRIC BUS MARKET, BY POWER OUTPUT 162 12.1 INTRODUCTION 163 12.2 UP TO 250 KW 164 12.2.1 WIDELY USED IN PUBLIC TRANSPORT BUSES 164 12.3 ABOVE 250 KW 166 12.3.1 DEMAND FOR HIGH-PERFORMANCE ELECTRIC BUSES TO DRIVE MARKET 166 12.4 KEY PRIMARY INSIGHTS 168 13 ELECTRIC BUS MARKET, BY RANGE 169 13.1 INTRODUCTION 170 13.2 UP TO 300 MILES 172 13.2.1 SUITABLE FOR URBAN AND SUBURBAN ROUTES WITH FREQUENT STOPS AND SHORTER DISTANCES BETWEEN CHARGING POINTS 172 13.3 ABOVE 300 MILES 174 13.3.1 INCREASING DEMAND FOR INTERCITY ELECTRIC BUSES TO DRIVE MARKET 174 13.4 KEY PRIMARY INSIGHTS 176 14 ELECTRIC BUS MARKET, BY SEATING CAPACITY 177 14.1 INTRODUCTION 178 14.2 UP TO 40 SEATS 179 14.2.1 NEED FOR ELECTRIC BUSES FOR SHORT-DISTANCE SHUTTLES TO DRIVE DEMAND 179 14.3 40–70 SEATS 181 14.3.1 SUITABLE FOR DENSELY POPULATED AREAS 181 14.4 ABOVE 70 SEATS 183 14.4.1 NEED FOR HIGHER PASSENGER-CARRYING CAPABILITIES TO DRIVE DEMAND 183 14.5 KEY INDUSTRY INSIGHTS 184   15 ELECTRIC BUS MARKET, BY APPLICATION 185 15.1 INTRODUCTION 186 15.2 CITY/TRANSIT BUS 188 15.2.1 NEED TO IMPROVE AIR QUALITY IN CITIES TO DRIVE DEMAND 188 15.3 COACHES 189 15.3.1 INCREASING DEMAND FOR SUSTAINABLE LONG-DISTANCE TRAVEL TO DRIVE GROWTH 189 15.4 SCHOOL BUSES 191 15.4.1 GROWING DEMAND IN NORTH AMERICA TO DRIVE ELECTRIC SCHOOL BUS MARKET 191 15.5 OTHER APPLICATIONS 193 15.6 KEY INDUSTRY INSIGHTS 195 16 ELECTRIC BUS MARKET, BY CONSUMER 196 16.1 INTRODUCTION 197 16.2 PRIVATE 198 16.2.1 GOVERNMENT SUBSIDIES TO PROMOTE ADOPTION OF ELECTRIC BUSES 198 16.3 GOVERNMENT 200 16.3.1 USE OF ELECTRIC BUSES FOR PUBLIC TRANSPORTATION 200 16.4 KEY INDUSTRY INSIGHTS 202 17 ELECTRIC BUS MARKET, BY GROSS VEHICLE WEIGHT (GVW) 203 17.1 INTRODUCTION 204 17.2 UP TO 10 TONNES 205 17.2.1 NEED FOR ELECTRIC BUSES FOR SHORT-DISTANCE SHUTTLES TO DRIVE GROWTH 205 17.3 10–20 TONNES 206 17.3.1 ASIA PACIFIC TO LEAD MARKET IN THIS SEGMENT 206 17.4 ABOVE 20 TONNES 207 17.4.1 ENGINEERED FOR BIGGER AND TEDIOUS OPERATIONS 207 17.5 KEY INDUSTRY INSIGHTS 208 18 ELECTRIC BUS MARKET, BY PROPULSION 209 18.1 INTRODUCTION 210 18.2 BATTERY ELECTRIC BUSES 211 18.2.1 FALLING BATTERY PRICES AND GOVERNMENT INCENTIVES TO ELECTRIFY PUBLIC BUS FLEETS 211 18.3 FUEL CELL ELECTRIC BUSES 213 18.3.1 SUSTAINABLE PRODUCTION OF HYDROGEN TO DRIVE GROWTH 213 18.4 KEY INDUSTRY INSIGHTS 215   19 ELECTRIC BUS MARKET, BY COMPONENT 216 19.1 INTRODUCTION 217 19.2 MOTORS 220 19.2.1 HIGHER EFFICIENCY THAN TRADITIONAL COMBUSTION ENGINES TO DRIVE GROWTH 220 19.3 BATTERIES 221 19.3.1 DECREASING PRICE OF LITHIUM-ION BATTERIES TO DRIVE GROWTH 221 19.4 FUEL CELL STACKS 223 19.4.1 INCREASING DEMAND FOR HYDROGEN FUEL CELL ELECTRIC BUSES TO DRIVE GROWTH 223 19.5 BATTERY MANAGEMENT SYSTEMS 225 19.5.1 NEED FOR EFFICIENT BATTERY OPTIMIZATION IN ELECTRIC BUSES TO DRIVE GROWTH 225 19.6 BATTERY COOLING SYSTEMS 227 19.6.1 GROWING FOCUS ON INCREASING BATTERY LIFE AND IMPROVING THERMAL MANAGEMENT TO DRIVE GROWTH 227 19.7 DC-DC CONVERTERS 229 19.7.1 KEY SAFETY SYSTEMS IN ELECTRIC BUSES 229 19.8 INVERTERS 230 19.8.1 GROWING DEMAND FOR ELECTRIC BUSES WITH HIGHER RANGE TO DRIVE GROWTH 230 19.9 AC/DC CHARGERS 232 19.9.1 CRITICAL TO OVERALL OPERATION AND EFFICIENCY OF ELECTRIC BUSES 232 19.10 EV CONNECTORS 233 19.10.1 INCREASING INVESTMENTS IN SUSTAINABLE URBAN TRANSPORTATION INITIATIVES TO DRIVE GROWTH 233 19.11 KEY INDUSTRY INSIGHTS 235 20 ELECTRIC BUS MARKET, BY LEVEL OF AUTONOMY 236 20.1 INTRODUCTION 236 20.2 SEMI-AUTONOMOUS 236 20.3 AUTONOMOUS 237 20.4 KEY INDUSTRY INSIGHTS 239 21 ELECTRIC BUS MARKET, BY REGION 240 21.1 INTRODUCTION 241 21.2 ASIA PACIFIC 243 21.2.1 MACROECONOMIC OUTLOOK 244 21.2.2 CHINA 248 21.2.2.1 Widespread adoption of electric buses in public transport and presence of leading OEMs to boost growth 248 21.2.3 JAPAN 250 21.2.3.1 Focus on developing advanced electric buses to drive market 250   21.2.4 INDIA 251 21.2.4.1 Government support for electrification of public transport to propel demand 251 21.2.5 SOUTH KOREA 252 21.2.5.1 Focus on electrification of public transport fleets to boost growth 252 21.2.6 SINGAPORE 254 21.2.6.1 Growing emphasis on promoting green public transport by 2040 to boost growth 254 21.2.7 INDONESIA 255 21.2.7.1 Government’s commitment to improving air quality to spur demand 255 21.2.8 AUSTRALIA 256 21.2.8.1 Increasing awareness regarding climate change to drive growth 256 21.3 EUROPE 258 21.3.1 MACROECONOMIC OUTLOOK 258 21.3.2 FRANCE 264 21.3.2.1 Aim for all-electric public transport fleet by 2025 to promote use of electric buses 264 21.3.3 GERMANY 266 21.3.3.1 Increased government incentives and investments for infrastructure development to boost market 266 21.3.4 SPAIN 267 21.3.4.1 Government’s focus on replacing existing public transport fleet with electric buses to boost growth 267 21.3.5 ITALY 268 21.3.5.1 Rising concerns about emissions to encourage government to adopt electrification of public transport system 268 21.3.6 NORWAY 269 21.3.6.1 Rising government support and schemes for electric buses to increase demand 269 21.3.7 SWEDEN 271 21.3.7.1 Presence of market-leading OEMs to support growth of electric bus market 271 21.3.8 DENMARK 272 21.3.8.1 Favorable government regulations to support growth of electric bus market 272 21.3.9 NETHERLANDS 273 21.3.9.1 Increased orders and deliveries of electric buses to boost demand 273 21.3.10 BELGIUM 275 21.3.10.1 Investments for electrification of public transport to drive growth 275 21.3.11 UK 276 21.3.11.1 Stringent regulations for emission-free buses to boost adoption of electric buses 276 21.3.12 FINLAND 277 21.3.12.1 Continuous need for reducing carbon emissions to drive growth 277   21.3.13 POLAND 278 21.3.13.1 Push toward sustainable public transportation to spur demand for electric buses 278 21.4 NORTH AMERICA 280 21.4.1 MACROECONOMIC OUTLOOK 280 21.4.2 US 284 21.4.2.1 Government programs to promote zero-emission vehicles to boost growth 284 21.4.3 CANADA 286 21.4.3.1 Government subsidies and presence of key players to boost adoption of electric school buses 286 21.5 LATIN AMERICA 287 21.5.1 MACROECONOMIC OUTLOOK 288 21.5.2 ARGENTINA 291 21.5.2.1 Demand for electrification of bus fleets to boost demand for advanced electric buses 291 21.5.3 BRAZIL 292 21.5.3.1 Growing environmental concerns to lead to demand for electric buses 292 21.5.4 CHILE 294 21.5.4.1 Government’s focus on promoting emission-free public transport to encourage use of electric buses 294 21.5.5 MEXICO 295 21.5.5.1 Rapid strategies undertaken by government to indicate growth of electric bus market 295 21.5.6 COLOMBIA 296 21.5.6.1 Increasing government initiatives for electric bus purchases to drive market 296 21.6 MIDDLE EAST & AFRICA 297 21.6.1 MACROECONOMIC OUTLOOK 298 21.6.2 SOUTH AFRICA 301 21.6.2.1 Investments by leading OEMs in advanced technologies in automotive sector to drive market 301 21.6.3 UAE 303 21.6.3.1 Growing electrification trend in cities to boost demand for electric buses 303 21.6.4 QATAR 304 21.6.4.1 Net-zero aims to push incorporation of electric buses 304 22 COMPETITIVE LANDSCAPE 306 22.1 OVERVIEW 306 22.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 306 22.3 ELECTRIC BUS MARKET SHARE ANALYSIS, 2024 308 22.3.1 ASIA: ELECTRIC BUS MARKET SHARE ANALYSIS, 2024 308 22.3.2 EUROPE: ELECTRIC BUS MARKET SHARE ANALYSIS, 2024 309 22.3.3 NORTH AMERICA: ELECTRIC BUS MARKET SHARE ANALYSIS, 2024 310 22.4 REVENUE ANALYSIS 313 22.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 313 22.5.1 STARS 313 22.5.2 EMERGING LEADERS 313 22.5.3 PERVASIVE PLAYERS 314 22.5.4 PARTICIPANTS 314 22.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 315 22.5.5.1 Consumer footprint 316 22.5.5.2 Region footprint 317 22.5.5.3 Application footprint 318 22.5.5.4 Propulsion footprint 318 22.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 319 22.6.1 PROGRESSIVE COMPANIES 319 22.6.2 RESPONSIVE COMPANIES 319 22.6.3 DYNAMIC COMPANIES 319 22.6.4 STARTING BLOCKS 319 22.6.5 COMPETITIVE BENCHMARKING 321 22.6.5.1 List of key startups/SMEs 321 22.6.5.2 Competitive benchmarking of key startups/SMEs 322 22.7 COMPANY VALUATION 323 22.8 FINANCIAL METRICS 323 22.9 BRAND/PRODUCT COMPARISON 324 22.10 COMPETITIVE SCENARIO 325 22.10.1 PRODUCT LAUNCHES, DEVELOPMENTS, AND ENHANCEMENTS, SEPTEMBER 2022–JULY 2025 325 22.10.2 DEALS, AUGUST 2022–MARCH 2025 327 22.10.3 EXPANSIONS, JUNE 2021–JULY 2025 329 22.10.4 OTHERS, OCTOBER 2022–JULY 2025 330 23 COMPANY PROFILES 332 23.1 KEY PLAYERS 332 23.1.1 BYD COMPANY LTD. 332 23.1.1.1 Business overview 332 23.1.1.2 Products/Solutions offered 333 23.1.1.3 Recent developments 335 23.1.1.3.1 Product launches 335 23.1.1.3.2 Deals 336 23.1.1.3.3 Expansions 338 23.1.1.3.4 Others 338 23.1.1.4 MnM view 340 23.1.1.4.1 Right to win 340   23.1.1.4.2 Strategic choices 340 23.1.1.4.3 Weaknesses & competitive threats 340 23.1.2 YUTONG BUS CO., LTD. 341 23.1.2.1 Business overview 341 23.1.2.2 Products/Solutions offered 342 23.1.2.3 Recent developments 344 23.1.2.3.1 Product launches/enhancements 344 23.1.2.3.2 Deals 345 23.1.2.3.3 Expansions 345 23.1.2.3.4 Others 346 23.1.2.4 MnM view 347 23.1.2.4.1 Right to win 347 23.1.2.4.2 Strategic choices 348 23.1.2.4.3 Weaknesses & competitive threats 348 23.1.3 ZHEJIANG GEELY HOLDING GROUP 349 23.1.3.1 Business overview 349 23.1.3.2 Products/Solutions offered 350 23.1.3.3 Recent developments 350 23.1.3.3.1 Product launches 350 23.1.3.3.2 Deals 351 23.1.3.3.3 Others 351 23.1.3.4 MnM view 351 23.1.3.4.1 Right to win 351 23.1.3.4.2 Strategic choices 352 23.1.3.4.3 Weaknesses & competitive threats 352 23.1.4 DAIMLER TRUCK AG 353 23.1.4.1 Business overview 353 23.1.4.2 Products/Solutions offered 354 23.1.4.3 Recent developments 355 23.1.4.3.1 Product launches 355 23.1.4.3.2 Deals 356 23.1.4.3.3 Expansions 356 23.1.4.3.4 Others 357 23.1.4.4 MnM view 359 23.1.4.4.1 Right to win 359 23.1.4.4.2 Strategic choices 359 23.1.4.4.3 Weaknesses & competitive threats 359 23.1.5 NFI GROUP 360 23.1.5.1 Business overview 360 23.1.5.2 Products/Solutions offered 361 23.1.5.3 Recent developments 362 23.1.5.3.1 Product launches/developments/enhancements 362 23.1.5.3.2 Deals 363 23.1.5.3.3 Others 363 23.1.5.4 MnM view 365 23.1.5.4.1 Right to win 365 23.1.5.4.2 Strategic choices 365 23.1.5.4.3 Weaknesses & competitive threats 365 23.1.6 AB VOLVO 366 23.1.6.1 Business overview 366 23.1.6.2 Products/Solutions offered 367 23.1.6.3 Recent developments 368 23.1.6.3.1 Product launches 368 23.1.6.3.2 Deals 369 23.1.6.3.3 Others 370 23.1.7 CAF (SOLARIS BUS & COACH SP. Z O.O.) 371 23.1.7.1 Business overview 371 23.1.7.2 Products/Solutions offered 373 23.1.7.3 Recent developments 374 23.1.7.3.1 Product launches 374 23.1.7.3.2 Others 374 23.1.8 ZHONGTONG BUS HOLDING CO., LTD. 376 23.1.8.1 Business overview 376 23.1.8.2 Products/Solutions offered 377 23.1.8.3 Recent developments 378 23.1.8.3.1 Deals 378 23.1.9 CRRC CORPORATION LIMITED 379 23.1.9.1 Business overview 379 23.1.9.2 Products/Solutions offered 381 23.1.9.3 Recent developments 381 23.1.9.3.1 Product launches 381 23.1.9.3.2 Deals 381 23.1.9.3.3 Expansions 382 23.1.9.3.4 Others 382 23.1.10 VDL GROEP 383 23.1.10.1 Business overview 383 23.1.10.2 Products/Solutions offered 384 23.1.10.3 Recent developments 385 23.1.10.3.1 Product launches 385 23.1.10.3.2 Deals 385 23.1.10.3.3 Expansions 386 23.1.10.3.4 Others 386   23.1.11 EBUSCO 387 23.1.11.1 Business overview 387 23.1.11.2 Products/Solutions offered 388 23.1.11.3 Recent developments 389 23.1.11.3.1 Product enhancements 389 23.1.11.3.2 Deals 389 23.1.11.3.3 Others 390 23.1.12 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD. 391 23.1.12.1 Business overview 391 23.1.12.2 Products/Solutions offered 392 23.1.12.3 Recent developments 393 23.1.12.3.1 Product launches 393 23.1.12.3.2 Others 394 23.2 OTHER PLAYERS 395 23.2.1 BLUE BIRD CORPORATION 395 23.2.2 GILLIG LLC. 396 23.2.3 THE LION ELECTRIC COMPANY 397 23.2.4 TATA MOTORS LIMITED. 398 23.2.5 ASHOK LEYLAND 399 23.2.6 SUNDA NEW ENERGY TECHNOLOGY CO., LTD. 400 23.2.7 GREE ALTAIRNANO NEW ENERGY INC. 401 23.2.8 XIAMEN GOLDEN DRAGON BUS CO. LTD. 402 23.2.9 JBM GROUP 403 23.2.10 SCANIA AB 404 23.2.11 IRIZAR GROUP 405 23.2.12 IVECO S.P.A 406 23.2.13 BLUEBUS 407 23.2.14 BOZANKAYA 408 23.2.15 CAETANOBUS 409 23.2.16 CHARIOT MOTORS 410 23.2.17 HEULIEZ BUS 411 23.2.18 OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.Ş. 412 23.2.19 TEMSA 413 23.2.20 URSUS S.A. 414 23.2.21 VAN HOOL 415 23.2.22 KARSAN 416 23.2.23 MELLOR 417 23.2.24 HINO MOTORS, LTD. 418 23.2.25 ANHUI ANKAI AUTOMOBILE CO., LTD. 419 23.2.26 OLECTRA GREENTECH LIMITED 420   24 RECOMMENDATIONS BY MARKETSANDMARKETS 421 24.1 ASIA PACIFIC TO BE MAJOR ELECTRIC BUS MARKET 421 24.2 BATTERY ELECTRIC BUSES TO BE KEY FOCUS AREA FOR MANUFACTURERS 421 24.3 CONCLUSION 422 25 APPENDIX 423 25.1 KEY INDUSTRY INSIGHTS 423 25.2 DISCUSSION GUIDE 423 25.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 426 25.4 CUSTOMIZATION OPTIONS 428 25.5 RELATED REPORTS 428 25.6 AUTHOR DETAILS 429
圖表清單 List of Tables & Figures
TABLE 1 EXCHANGE RATE, 2021–2024 36 TABLE 2 COUNTRY/REGION-WISE INITIATIVES 67 TABLE 3 POTENTIAL MARKETS FOR NEW ZERO-EMISSION BUSES ACROSS EUROPE 68 TABLE 4 FUEL CELL ELECTRIC BUS MODELS 75 TABLE 5 US: FUEL CELL ELECTRIC BUS PROJECTS 75 TABLE 6 OEM-WISE DEVELOPMENTS 80 TABLE 7 ITALY: IMPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 81 TABLE 8 GERMANY: IMPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 81 TABLE 9 SOUTH KOREA: IMPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 81 TABLE 10 UK: IMPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 82 TABLE 11 US: IMPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 82 TABLE 12 BELGIUM: IMPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 82 TABLE 13 CHINA: EXPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 83 TABLE 14 POLAND: EXPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 83 TABLE 15 BELGIUM: EXPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 83 TABLE 16 ITLAY: EXPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 84 TABLE 17 TÜRKIYE: EXPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 84 TABLE 18 FRANCE: EXPORT SCENARIO FOR HS CODE: 870240, BY COUNTRY, 2020–2024 (USD) 84 TABLE 19 ELECTRIC BUS MARKET: ROLE OF COMPANIES IN ECOSYSTEM 86 TABLE 20 AVERAGE SELLING PRICE, BY APPLICATION, 2024 (USD) 89 TABLE 21 AVERAGE SELLING PRICE, BY PROPULSION, 2024 (USD) 90 TABLE 22 AVERAGE SELLING PRICE, BY REGION, 2024 (USD) 91 TABLE 23 LIST OF PATENTS GRANTED IN ELECTRIC BUS MARKET, 2020–2025 93 TABLE 24 NORTH AMERICA: POLICIES AND INITIATIVES SUPPORTING ELECTRIC & HYDROGEN-POWERED BUSES AND INFRASTRUCTURE 97 TABLE 25 EUROPE: POLICIES AND INITIATIVES SUPPORTING ELECTRIC & HYDROGEN-POWERED BUSES AND INFRASTRUCTURE 98 TABLE 26 ASIA PACIFIC: POLICIES AND INITIATIVES SUPPORTING ELECTRIC & HYDROGEN-POWERED BUSES AND INFRASTRUCTURE 99 TABLE 27 LATIN AMERICA: POLICIES AND INITIATIVES SUPPORTING ELECTRIC & HYDROGEN-POWERED BUSES AND INFRASTRUCTURE 100 TABLE 28 MIDDLE EAST & AFRICA: POLICIES AND INITIATIVES SUPPORTING ELECTRIC & HYDROGEN-POWERED BUSES AND INFRASTRUCTURE 100 TABLE 29 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 101 TABLE 30 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 102 TABLE 31 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 103 TABLE 32 MIDDLE EAST & AFRICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104 TABLE 33 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 105 TABLE 34 ANALYSIS TO EVALUATE FINANCIAL FEASIBILITY OF DEPLOYING ELECTRIC BUS FLEETS 107 TABLE 35 DEPLOYMENT OF ELECTRIC BUSES WITH ONGOING INFRASTRUCTURAL CHANGES 108 TABLE 36 KEY CONFERENCES AND EVENTS, 2025–2026 114 TABLE 37 INFLUENCE OF STAKEHOLDERS ON PURCHASE OF ELECTRIC BUSES 115 TABLE 38 KEY BUYING CRITERIA FOR ELECTRIC BUS, BY PROPULSION 115 TABLE 39 BATTERY CELL MANUFACTURERS 116 TABLE 40 AXLE MANUFACTURERS 117 TABLE 41 HVAC SYSTEM MANUFACTURERS 118 TABLE 42 MOTOR MANUFACTURERS 119 TABLE 43 OEM/BRAND-WISE SALES FOR ELECTRIC BUSES, 2021–2025 123 TABLE 44 ELECTRIC BUS DRIVE MOTOR SUPPLIERS, BY BRAND/OEM AND REGION 124 TABLE 45 ELECTRIC BUS BATTERY CELL SUPPLIERS, BY BRAND/OEM AND REGION 125 TABLE 46 ELECTRIC BUS BRAND/OEM-WISE INSTALLED BATTERY CAPACITIES IN MWH, 2021–2025 126 TABLE 47 ELECTRIC BUS MARKET, BY LENGTH OF BUS, 2021–2024 (UNITS) 136 TABLE 48 ELECTRIC BUS MARKET, BY LENGTH OF BUS, 2025–2032 (UNITS) 137 TABLE 49 ELECTRIC BUS MARKET, BY LENGTH OF BUS, 2021–2024 (USD MILLION) 137 TABLE 50 ELECTRIC BUS MARKET, BY LENGTH OF BUS, 2025–2032 (USD MILLION) 137 TABLE 51 LESS THAN 9 M: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 138 TABLE 52 LESS THAN 9 M: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 138 TABLE 53 LESS THAN 9 M: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 138 TABLE 54 LESS THAN 9 M: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 139 TABLE 55 9–14 M: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 139 TABLE 56 9–14 M: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 140 TABLE 57 9–14 M: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 140 TABLE 58 9–14 M: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 140 TABLE 59 MORE THAN 14 M: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 141 TABLE 60 MORE THAN 14 M: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 141 TABLE 61 MORE THAN 14 M: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 142 TABLE 62 MORE THAN 14 M: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 142 TABLE 63 ELECTRIC BUS MARKET, BY BATTERY TYPE, 2021–2024 (UNITS) 145 TABLE 64 ELECTRIC BUS MARKET, BY BATTERY TYPE, 2025–2032 (UNITS) 145 TABLE 65 ELECTRIC BUS MARKET, BY BATTERY TYPE, 2021–2024 (USD MILLION) 146 TABLE 66 ELECTRIC BUS MARKET, BY BATTERY TYPE, 2025–2032 (USD MILLION) 146 TABLE 67 NMC BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 147 TABLE 68 NMC BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 147 TABLE 69 NMC BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 147 TABLE 70 NMC BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 148 TABLE 71 LFP BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 149 TABLE 72 LFP BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 149 TABLE 73 LFP BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 149 TABLE 74 LFP BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 150 TABLE 75 NCA BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 150 TABLE 76 NCA BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 151 TABLE 77 NCA BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 151 TABLE 78 NCA BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 151 TABLE 79 OTHER BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 152 TABLE 80 OTHER BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 153 TABLE 81 OTHER BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 153 TABLE 82 OTHER BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 153 TABLE 83 ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021–2024 (UNITS) 156 TABLE 84 ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2025–2032 (UNITS) 156 TABLE 85 ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2021–2024 (USD MILLION) 157 TABLE 86 ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2025–2032 (USD MILLION) 157 TABLE 87 UP TO 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 158 TABLE 88 UP TO 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 158 TABLE 89 UP TO 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 158 TABLE 90 UP TO 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 159 TABLE 91 ABOVE 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 160 TABLE 92 ABOVE 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 160 TABLE 93 ABOVE 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 160 TABLE 94 ABOVE 400 KWH: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 161 TABLE 95 ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021–2024 (UNITS) 163 TABLE 96 ELECTRIC BUS MARKET, BY POWER OUTPUT, 2025–2032 (UNITS) 163 TABLE 97 ELECTRIC BUS MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION) 164 TABLE 98 ELECTRIC BUS MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION) 164 TABLE 99 UP TO 250 KW: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 165 TABLE 100 UP TO 250 KW: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 165 TABLE 101 UP TO 250 KW: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 165 TABLE 102 UP TO 250 KW: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 166 TABLE 103 ABOVE 250 KW: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 167 TABLE 104 ABOVE 250 KW: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 167 TABLE 105 ABOVE 250 KW: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 167 TABLE 106 ABOVE 250 KW: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 168 TABLE 107 ELECTRIC BUS MARKET, BY RANGE, 2021–2024 (UNITS) 171 TABLE 108 ELECTRIC BUS MARKET, BY RANGE, 2025–2032 (UNITS) 171 TABLE 109 ELECTRIC BUS MARKET, BY RANGE, 2021–2024 (USD MILLION) 171 TABLE 110 ELECTRIC BUS MARKET, BY RANGE, 2025–2032 (USD MILLION) 172 TABLE 111 UP TO 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 172 TABLE 112 UP TO 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 173 TABLE 113 UP TO 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 173 TABLE 114 UP TO 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 173 TABLE 115 ABOVE 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 174 TABLE 116 ABOVE 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 175 TABLE 117 ABOVE 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 175 TABLE 118 ABOVE 300 MILES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 175 TABLE 119 ELECTRIC BUS MARKET, BY SEATING CAPACITY, 2021–2024 (UNITS) 178 TABLE 120 ELECTRIC BUS MARKET, BY SEATING CAPACITY, 2025–2032 (UNITS) 178 TABLE 121 ELECTRIC BUS MARKET, BY SEATING CAPACITY, 2021–2024 (USD MILLION) 179 TABLE 122 ELECTRIC BUS MARKET, BY SEATING CAPACITY, 2025–2032 (USD MILLION) 179 TABLE 123 UP TO 40 SEATS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 180 TABLE 124 UP TO 40 SEATS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 180 TABLE 125 UP TO 40 SEATS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 180 TABLE 126 UP TO 40 SEATS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 181 TABLE 127 40–70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 181 TABLE 128 40–70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 182 TABLE 129 40–70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 182 TABLE 130 40–70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 182 TABLE 131 ABOVE 70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 183 TABLE 132 ABOVE 70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 183 TABLE 133 ABOVE 70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 184 TABLE 134 ABOVE 70 SEATS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 184 TABLE 135 ELECTRIC BUS MARKET, BY APPLICATION, 2021–2024 (UNITS) 186 TABLE 136 ELECTRIC BUS MARKET, BY APPLICATION, 2025–2032 (UNITS) 187 TABLE 137 ELECTRIC BUS MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 187 TABLE 138 ELECTRIC BUS MARKET, BY APPLICATION, 2025–2032 (USD MILLION) 187 TABLE 139 CITY/TRANSIT BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 188 TABLE 140 CITY/TRANSIT BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 188 TABLE 141 CITY/TRANSIT BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 189 TABLE 142 CITY/TRANSIT BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 189 TABLE 143 COACHES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 190 TABLE 144 COACHES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 190 TABLE 145 COACHES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 190 TABLE 146 COACHES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 191 TABLE 147 SCHOOL BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 192 TABLE 148 SCHOOL BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 192 TABLE 149 SCHOOL BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 192 TABLE 150 SCHOOL BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 193 TABLE 151 OTHER APPLICATIONS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 193 TABLE 152 OTHER APPLICATIONS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 194 TABLE 153 OTHER APPLICATIONS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 194 TABLE 154 OTHER APPLICATIONS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 194 TABLE 155 ELECTRIC BUS MARKET, BY CONSUMER, 2021–2024 (UNITS) 197 TABLE 156 ELECTRIC BUS MARKET, BY CONSUMER, 2025–2032 (UNITS) 198 TABLE 157 ELECTRIC BUS MARKET, BY CONSUMER, 2021–2024 (USD MILLION) 198 TABLE 158 ELECTRIC BUS MARKET, BY CONSUMER, 2025–2032 (USD MILLION) 198 TABLE 159 PRIVATE: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 199 TABLE 160 PRIVATE: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 199 TABLE 161 PRIVATE: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 199 TABLE 162 PRIVATE: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 200 TABLE 163 GOVERNMENT: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 201 TABLE 164 GOVERNMENT: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 201 TABLE 165 GOVERNMENT: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 201 TABLE 166 GOVERNMENT: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 202 TABLE 167 ELECTRIC BUS MARKET, BY GVW, 2021–2024 (UNITS) 204 TABLE 168 ELECTRIC BUS MARKET, BY GVW, 2025–2032 (UNITS) 204 TABLE 169 UP TO 10 TONNES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 205 TABLE 170 UP TO 10 TONNES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 205 TABLE 171 10 – 20 TONNES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 206 TABLE 172 10 – 20 TONNES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 206 TABLE 173 ABOVE 20 TONNES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 207 TABLE 174 ABOVE 20 TONNES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 207 TABLE 175 ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 210 TABLE 176 ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 210 TABLE 177 ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 211 TABLE 178 ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 211 TABLE 179 BATTERY ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 212 TABLE 180 BATTERY ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 212 TABLE 181 BATTERY ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 212 TABLE 182 BATTERY ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 213 TABLE 183 FUEL CELL ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 214 TABLE 184 FUEL CELL ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 214 TABLE 185 FUEL CELL ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 214 TABLE 186 FUEL CELL ELECTRIC BUSES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 215 TABLE 187 ELECTRIC BUS MARKET, BY COMPONENT, 2021–2024 (UNITS) 218 TABLE 188 ELECTRIC BUS MARKET, BY COMPONENT, 2025–2032 (UNITS) 218 TABLE 189 ELECTRIC BUS MARKET, BY COMPONENT, 2021–2024 (USD MILLION) 219 TABLE 190 ELECTRIC BUS MARKET, BY COMPONENT, 2025–2032 (USD MILLION) 219 TABLE 191 MOTORS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 220 TABLE 192 MOTORS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 220 TABLE 193 MOTORS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 221 TABLE 194 MOTORS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 221 TABLE 195 BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 222 TABLE 196 BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 222 TABLE 197 BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 223 TABLE 198 BATTERIES: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 223 TABLE 199 FUEL CELL STACKS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 224 TABLE 200 FUEL CELL STACKS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 224 TABLE 201 FUEL CELL STACKS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 224 TABLE 202 FUEL CELL STACKS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 225 TABLE 203 BATTERY MANAGEMENT SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 225 TABLE 204 BATTERY MANAGEMENT SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 226 TABLE 205 BATTERY MANAGEMENT SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 226 TABLE 206 BATTERY MANAGEMENT SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 226 TABLE 207 BATTERY COOLING SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 227 TABLE 208 BATTERY COOLING SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 227 TABLE 209 BATTERY COOLING SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 228 TABLE 210 BATTERY COOLING SYSTEMS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 228 TABLE 211 DC-DC CONVERTERS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 229 TABLE 212 DC-DC CONVERTERS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 229 TABLE 213 DC-DC CONVERTERS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 229 TABLE 214 DC-DC CONVERTERS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 230 TABLE 215 INVERTERS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 230 TABLE 216 INVERTERS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 231 TABLE 217 INVERTERS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 231 TABLE 218 INVERTERS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 231 TABLE 219 AC/DC CHARGERS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 232 TABLE 220 AC/DC CHARGERS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 232 TABLE 221 AC/DC CHARGERS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 233 TABLE 222 AC/DC CHARGERS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 233 TABLE 223 EV CONNECTORS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 234 TABLE 224 EV CONNECTORS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 234 TABLE 225 EV CONNECTORS: ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 234 TABLE 226 EV CONNECTORS: ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 235 TABLE 227 SEMI-AUTONOMOUS ELECTRIC BUS MODELS AND THEIR FEATURES, 2022 237 TABLE 228 AUTONOMOUS ELECTRIC BUS MODELS AND THEIR FEATURES, 2023 238 TABLE 229 ELECTRIC BUS MARKET, BY REGION, 2021–2024 (UNITS) 242 TABLE 230 ELECTRIC BUS MARKET, BY REGION, 2025–2032 (UNITS) 242 TABLE 231 ELECTRIC BUS MARKET, BY REGION, 2021–2024 (USD MILLION) 243 TABLE 232 ELECTRIC BUS MARKET, BY REGION, 2025–2032 (USD MILLION) 243 TABLE 233 ASIA PACIFIC: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (UNITS) 247 TABLE 234 ASIA PACIFIC: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (UNITS) 247 TABLE 235 ASIA PACIFIC: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 247 TABLE 236 ASIA PACIFIC: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (USD MILLION) 248 TABLE 237 CHINA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 249 TABLE 238 CHINA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 249 TABLE 239 CHINA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 249 TABLE 240 CHINA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 249 TABLE 241 JAPAN: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 250 TABLE 242 JAPAN: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 250 TABLE 243 JAPAN: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 250 TABLE 244 JAPAN: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 251 TABLE 245 INDIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 251 TABLE 246 INDIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 252 TABLE 247 INDIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 252 TABLE 248 INDIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 252 TABLE 249 SOUTH KOREA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 253 TABLE 250 SOUTH KOREA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 253 TABLE 251 SOUTH KOREA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 253 TABLE 252 SOUTH KOREA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 253 TABLE 253 SINGAPORE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 254 TABLE 254 SINGAPORE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 254 TABLE 255 SINGAPORE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 255 TABLE 256 SINGAPORE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 255 TABLE 257 INDONESIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 255 TABLE 258 INDONESIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 256 TABLE 259 INDONESIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 256 TABLE 260 INDONESIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 256 TABLE 261 AUSTRALIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 257 TABLE 262 AUSTRALIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 257 TABLE 263 AUSTRALIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 257 TABLE 264 AUSTRALIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 257 TABLE 265 EUROPE: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (UNITS) 262 TABLE 266 EUROPE: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (UNITS) 263 TABLE 267 EUROPE: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 263 TABLE 268 EUROPE: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (USD MILLION) 264 TABLE 269 FRANCE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 265 TABLE 270 FRANCE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 265 TABLE 271 FRANCE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 265 TABLE 272 FRANCE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 265 TABLE 273 GERMANY: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 266 TABLE 274 GERMANY: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 266 TABLE 275 GERMANY: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 266 TABLE 276 GERMANY: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 267 TABLE 277 SPAIN: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 267 TABLE 278 SPAIN: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 267 TABLE 279 SPAIN: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 268 TABLE 280 SPAIN: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 268 TABLE 281 ITALY: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 268 TABLE 282 ITALY: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 269 TABLE 283 ITALY: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 269 TABLE 284 ITALY: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 269 TABLE 285 NORWAY: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 270 TABLE 286 NORWAY: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 270 TABLE 287 NORWAY: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 270 TABLE 288 NORWAY: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 270 TABLE 289 SWEDEN: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 271 TABLE 290 SWEDEN: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 271 TABLE 291 SWEDEN: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 271 TABLE 292 SWEDEN: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 272 TABLE 293 DENMARK: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 272 TABLE 294 DENMARK: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 273 TABLE 295 DENMARK: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 273 TABLE 296 DENMARK: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 273 TABLE 297 NETHERLANDS: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 274 TABLE 298 NETHERLANDS: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 274 TABLE 299 NETHERLANDS: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 274 TABLE 300 NETHERLANDS: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 274 TABLE 301 BELGIUM: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 275 TABLE 302 BELGIUM: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 275 TABLE 303 BELGIUM: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 275 TABLE 304 BELGIUM: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 276 TABLE 305 UK: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 276 TABLE 306 UK: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 276 TABLE 307 UK: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 277 TABLE 308 UK: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 277 TABLE 309 FINLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 277 TABLE 310 FINLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 278 TABLE 311 FINLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 278 TABLE 312 FINLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 278 TABLE 313 POLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 279 TABLE 314 POLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 279 TABLE 315 POLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 279 TABLE 316 POLAND: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 279 TABLE 317 NORTH AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (UNITS) 283 TABLE 318 NORTH AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (UNITS) 283 TABLE 319 NORTH AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 284 TABLE 320 NORTH AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (USD MILLION) 284 TABLE 321 US: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 285 TABLE 322 US: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 285 TABLE 323 US: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 285 TABLE 324 US: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 285 TABLE 325 CANADA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 286 TABLE 326 CANADA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 286 TABLE 327 CANADA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 286 TABLE 328 CANADA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 287 TABLE 329 LATIN AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (UNITS) 290 TABLE 330 LATIN AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (UNITS) 290 TABLE 331 LATIN AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 290 TABLE 332 LATIN AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (USD MILLION) 291 TABLE 333 ARGENTINA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 291 TABLE 334 ARGENTINA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 292 TABLE 335 ARGENTINA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 292 TABLE 336 ARGENTINA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 292 TABLE 337 BRAZIL: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 293 TABLE 338 BRAZIL: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 293 TABLE 339 BRAZIL: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 293 TABLE 340 BRAZIL: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 293 TABLE 341 CHILE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 294 TABLE 342 CHILE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 294 TABLE 343 CHILE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 294 TABLE 344 CHILE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 295 TABLE 345 MEXICO: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 295 TABLE 346 MEXICO: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 295 TABLE 347 MEXICO: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 296 TABLE 348 MEXICO: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 296 TABLE 349 COLOMBIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 296 TABLE 350 COLOMBIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 297 TABLE 351 COLOMBIA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 297 TABLE 352 COLOMBIA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 297 TABLE 353 MIDDLE EAST & AFRICA: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (UNITS) 300 TABLE 354 MIDDLE EAST & AFRICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (UNITS) 300 TABLE 355 MIDDLE EAST & AFRICA: ELECTRIC BUS MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 301 TABLE 356 MIDDLE EAST & AFRICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025–2032 (USD MILLION) 301 TABLE 357 SOUTH AFRICA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 302 TABLE 358 SOUTH AFRICA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 302 TABLE 359 SOUTH AFRICA: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 302 TABLE 360 SOUTH AFRICA: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 302 TABLE 361 UAE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 303 TABLE 362 UAE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 303 TABLE 363 UAE: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 303 TABLE 364 UAE: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 304 TABLE 365 QATAR: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (UNITS) 304 TABLE 366 QATAR: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (UNITS) 305 TABLE 367 QATAR: ELECTRIC BUS MARKET, BY PROPULSION, 2021–2024 (USD MILLION) 305 TABLE 368 QATAR: ELECTRIC BUS MARKET, BY PROPULSION, 2025–2032 (USD MILLION) 305 TABLE 369 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2024 307 TABLE 370 ASIAN ELECTRIC BUS MARKET: DEGREE OF COMPETITION, 2024 309 TABLE 371 EUROPEAN ELECTRIC BUS MARKET: DEGREE OF COMPETITION, 2024 310 TABLE 372 NORTH AMERICAN ELECTRIC BUS MARKET: DEGREE OF COMPETITION, 2024 311 TABLE 373 ELECTRIC BUS MARKET: CONSUMER FOOTPRINT, 2024 316 TABLE 374 ELECTRIC BUS MARKET: REGION FOOTPRINT, 2024 317 TABLE 375 ELECTRIC BUS MARKET: APPLICATION FOOTPRINT, 2024 318 TABLE 376 ELECTRIC BUS MARKET: PROPULSION FOOTPRINT, 2024 318 TABLE 377 ELECTRIC BUS MARKET: LIST OF KEY STARTUPS/SMES 321 TABLE 378 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 322 TABLE 379 ELECTRIC BUS MARKET: PRODUCT LAUNCHES/ENHANCEMENTS/DEVELOPMENTS, SEPTEMBER 2022–JULY 2025 325 TABLE 380 ELECTRIC BUS MARKET: DEALS, AUGUST 2022–MARCH 2025 327 TABLE 381 ELECTRIC BUS MARKET: EXPANSIONS, JUNE 2021–JULY 2025 329 TABLE 382 ELECTRIC BUS MARKET: OTHERS, OCTOBER 2022–JULY 2025 330 TABLE 383 BYD COMPANY LTD.: COMPANY OVERVIEW 332 TABLE 384 BYD COMPANY LTD.: PRODUCTS/SOLUTIONS OFFERED 333 TABLE 385 BYD COMPANY LTD.: PRODUCT LAUNCHES 335 TABLE 386 BYD COMPANY LTD.: DEALS 336 TABLE 387 BYD COMPANY LTD.: EXPANSIONS 338 TABLE 388 BYD COMPANY LTD.: OTHERS 338 TABLE 389 YUTONG BUS CO., LTD.: COMPANY OVERVIEW 341 TABLE 390 YUTONG BUS CO., LTD.: PRODUCTS/SOLUTIONS OFFERED 342 TABLE 391 YUTONG BUS CO., LTD.: PRODUCT LAUNCHES/ENHANCEMENTS 344 TABLE 392 YUTONG BUS CO., LTD.: DEALS 345 TABLE 393 YUTONG BUS CO., LTD.: EXPANSIONS 345 TABLE 394 YUTONG BUS CO., LTD.: OTHERS 346 TABLE 395 ZHEJIANG GEELY HOLDING GROUP: COMPANY OVERVIEW 349 TABLE 396 ZHEJIANG GEELY HOLDING GROUP: PRODUCTS/SOLUTIONS OFFERED 350 TABLE 397 ZHEJIANG GEELY HOLDING GROUP: PRODUCT LAUNCHES 350 TABLE 398 ZHEJIANG GEELY HOLDING GROUP: DEALS 351 TABLE 399 ZHEJIANG GEELY HOLDING GROUP: OTHERS 351 TABLE 400 DAIMLER TRUCK AG: COMPANY OVERVIEW 353 TABLE 401 DAIMLER TRUCK AG: PRODUCTS/SOLUTIONS OFFERED 354 TABLE 402 DAIMLER TRUCK AG: PRODUCT LAUNCHES 355 TABLE 403 DAIMLER TRUCK AG: DEALS 356 TABLE 404 DAIMLER TRUCK AG: EXPANSIONS 356 TABLE 405 DAIMLER TRUCK AG: OTHERS 357 TABLE 406 NFI GROUP: COMPANY OVERVIEW 360 TABLE 407 NFI GROUP: PRODUCTS/SOLUTIONS OFFERED 361 TABLE 408 NFI GROUP: PRODUCT LAUNCHES/DEVELOPMENTS/ENHANCEMENTS 362 TABLE 409 NFI GROUP: DEALS 363 TABLE 410 NFI GROUP: OTHERS 363 TABLE 411 AB VOLVO: COMPANY OVERVIEW 366 TABLE 412 AB VOLVO: PRODUCTS/SOLUTIONS OFFERED 367 TABLE 413 AB VOLVO: PRODUCT LAUNCHES 368 TABLE 414 AB VOLVO: DEALS 369 TABLE 415 AB VOLVO: OTHERS 370 TABLE 416 CAF (SOLARIS BUS & COACH SP. Z O.O.): COMPANY OVERVIEW 371 TABLE 417 CAF (SOLARIS BUS & COACH SP. Z O.O.): PRODUCTS/SOLUTIONS OFFERED 373 TABLE 418 CAF (SOLARIS BUS & COACH SP. Z O.O.): PRODUCT LAUNCHES 374 TABLE 419 CAF (SOLARIS BUS & COACH SP. Z O.O.): OTHERS 374   TABLE 420 ZHONGTONG BUS HOLDING CO., LTD.: COMPANY OVERVIEW 376 TABLE 421 ZHONGTONG BUS HOLDING CO., LTD.: PRODUCTS/SOLUTIONS OFFERED 377 TABLE 422 ZHONGTONG BUS HOLDING CO., LTD.: DEALS 378 TABLE 423 CRRC CORPORATION LIMITED: COMPANY OVERVIEW 379 TABLE 424 CRRC CORPORATION LIMITED: PRODUCTS/SOLUTIONS OFFERED 381 TABLE 425 CRRC CORPORATION LIMITED: PRODUCT LAUNCHES 381 TABLE 426 CRRC CORPORATION LIMITED: DEALS 381 TABLE 427 CRRC CORPORATION LIMITED: EXPANSIONS 382 TABLE 428 CRRC CORPORATION LIMITED: OTHERS 382 TABLE 429 VDL GROEP: COMPANY OVERVIEW 383 TABLE 430 VDL GROEP: PRODUCTS/SOLUTIONS OFFERED 384 TABLE 431 VDL GROEP: PRODUCT LAUNCHES 385 TABLE 432 VDL GROEP: DEALS 385 TABLE 433 VDL GROEP: EXPANSIONS 386 TABLE 434 VDL GROEP: OTHERS 386 TABLE 435 EBUSCO: COMPANY OVERVIEW 387 TABLE 436 EBUSCO: PRODUCTS/SOLUTIONS OFFERED 388 TABLE 437 EBUSCO: PRODUCT ENHANCEMENTS 389 TABLE 438 EBUSCO: DEALS 389 TABLE 439 EBUSCO: OTHERS 390 TABLE 440 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: COMPANY OVERVIEW 391 TABLE 441 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: PRODUCTS/SOLUTIONS OFFERED 392 TABLE 442 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: PRODUCT LAUNCHES 393 TABLE 443 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: OTHERS 394 FIGURE 1 RESEARCH DESIGN 39 FIGURE 2 RESEARCH DESIGN MODEL 40 FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS 43 FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 44 FIGURE 5 BOTTOM-UP APPROACH 45 FIGURE 6 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH METHODOLOGY 46 FIGURE 7 DATA TRIANGULATION 47 FIGURE 8 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES 48 FIGURE 9 KEY FACTORS IMPACTING ELECTRIC BUS MARKET 48 FIGURE 10 REPORT SUMMARY 52 FIGURE 11 ELECTRIC BUS MARKET, BY REGION, 2025 VS. 2032 (USD MILLION) 53 FIGURE 12 ELECTRIC BUS MARKET, BY PROPULSION, 2025 VS. 2032 (USD MILLION) 54 FIGURE 13 INCREASING DEMAND FOR SUSTAINABLE TRANSPORT SOLUTIONS AND GREEN TRANSPORTATION TO DRIVE MARKET 56 FIGURE 14 BATTERY ELECTRIC BUSES TO BE DOMINANT SEGMENT IN 2032 56 FIGURE 15 UP TO 300 MILES SEGMENT TO HOLD DOMINANT MARKET SHARE IN 2032 57 FIGURE 16 BATTERIES TO HOLD LARGEST MARKET SHARE IN 2032 57 FIGURE 17 GOVERNMENT SEGMENT TO DOMINATE IN 2032 58 FIGURE 18 UP TO 400 KWH TO BE DOMINANT SEGMENT IN 2032 58 FIGURE 19 LFP TO BE LARGEST BATTERY TYPE IN 2032 59 FIGURE 20 CITY/TRANSIT BUSES TO BE LARGEST SEGMENT IN 2032 59 FIGURE 21 UP TO 250 KW TO BE DOMINANT SEGMENT IN 2032 60 FIGURE 22 9-14 M TO BE LARGEST SEGMENT IN 2032 60 FIGURE 23 40–70 SEATS TO BE LARGEST SEGMENT IN 2032 61 FIGURE 24 10–20 TONNES SEGMENT TO BE LARGEST SEGMENT DURING FORECAST PERIOD 61 FIGURE 25 ASIA PACIFIC TO LEAD ELECTRIC BUS MARKET IN 2025 62 FIGURE 26 ELECTRIC BUS MARKET DYNAMICS 64 FIGURE 27 REGION-WISE PROGRAMS FOR ELECTRIC BUS ADOPTION 65 FIGURE 28 INCREASING DEMAND FOR GREEN VEHICLES 69 FIGURE 29 DECLINE IN BATTERY PRICE/KWH, 2010–2030 69 FIGURE 30 SAFETY CONCERNS IN ELECTRIC VEHICLE BATTERIES 71 FIGURE 31 BATTERY SAFETY ARCHITECTURE OUTLINE 72 FIGURE 32 AVERAGE COST OF OPERATIONS: DIESEL BUS VS. ELECTRIC BUS (USD/YEAR) 72 FIGURE 33 FUEL CELL PRODUCT LIFECYCLE 74 FIGURE 34 ELECTRIC BUS AS A SERVICE 77 FIGURE 35 ELECTRIC BUS MARKET ECOSYSTEM ANALYSIS 85 FIGURE 36 ECOSYSTEM MAPPING 85 FIGURE 37 ELECTRIC BUS MARKET: SUPPLY CHAIN ANALYSIS 87 FIGURE 38 TOTAL COST OF OWNERSHIP: 12-M ELECTRIC BUSES VS. 12-M DIESEL BUSES (USD) 88 FIGURE 39 AVERAGE SELLING PRICE, BY APPLICATION, 2024 (USD) 89 FIGURE 40 AVERAGE SELLING PRICE, BY PROPULSION, 2024 (USD) 90 FIGURE 41 AVERAGE SELLING PRICE, BY REGION, 2024 (USD) 91 FIGURE 42 NUMBER OF PATENTS GRANTED FOR ELECTRIC BUSES, JANUARY 2015–APRIL 2025 92 FIGURE 43 OPEX-BASED ELECTRIC BUS DEPLOYMENT 106 FIGURE 44 ELECTRIFICATION OF DOHA PUBLIC TRANSPORT IN 2022 108 FIGURE 45 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 112 FIGURE 46 BILL OF MATERIALS ANALYSIS 113 FIGURE 47 KEY BUYING CRITERIA FOR ELECTRIC BUSES, BY PROPULSION 115 FIGURE 48 KEY SUPPLIERS FOR MAJOR COMPONENTS OF ELECTRIC BUSES 116 FIGURE 49 INVESTMENT AND FUNDING SCENARIO, 2021–2025 119 FIGURE 50 ELECTRIC AND ICE BUS MODELS: BUS LENGTH VS. NUMBER OF SEATS 120 FIGURE 51 ELECTRIC BUS MODELS: BUS LENGTH VS. NUMBER OF SEATS 121 FIGURE 52 ELECTRIC BUS: BATTERY CAPACITY VS. DRIVE RANGE VS. PAX FOR MERCEDES-BENZ E-CITARO 122 FIGURE 53 ELECTRIC BUS MARKET: FUTURE TECHNOLOGY OVERVIEW 128 FIGURE 54 ELECTRIC BUS MARKET: TECHNOLOGY ROADMAP 129 FIGURE 55 NEW PACKAGED FUEL CELL SYSTEM MODULE BY TOYOTA 131 FIGURE 56 ELECTRIC BUS MARKET, BY LENGTH OF BUS, 2025 VS. 2032 (USD MILLION) 136 FIGURE 57 ELECTRIC BUS MARKET, BY BATTERY TYPE, 2025 VS. 2032 (USD MILLION) 145 FIGURE 58 ELECTRIC BUS MARKET, BY BATTERY CAPACITY, 2025 VS. 2032 (USD MILLION) 156 FIGURE 59 ELECTRIC BUS MARKET, BY POWER OUTPUT, 2025 VS. 2032 (USD MILLION) 163 FIGURE 60 ELECTRIC BUS MARKET, BY RANGE, 2025 VS. 2032 (USD MILLION) 170 FIGURE 61 ELECTRIC BUS MARKET: RANGE VS. DIFFERENT DRIVING CONDITIONS 171 FIGURE 62 ELECTRIC BUS MARKET, BY SEATING CAPACITY, 2025 VS. 2032 (USD MILLION) 178 FIGURE 63 ELECTRIC BUS MARKET, BY APPLICATION, 2025 VS. 2032 (USD MILLION) 186 FIGURE 64 ELECTRIC BUS MARKET, BY CONSUMER, 2025 VS. 2032 (USD MILLION) 197 FIGURE 65 ELECTRIC BUS MARKET, BY GVW, 2025 VS. 2032 (UNITS) 204 FIGURE 66 ELECTRIC BUS MARKET, BY PROPULSION, 2025 VS. 2032 (USD MILLION) 210 FIGURE 67 ELECTRIC BUS MARKET, BY COMPONENT, 2025 VS. 2032 (USD MILLION) 217 FIGURE 68 ELECTRIC BUS MARKET, BY REGION, 2025 VS. 2032 (USD MILLION) 242 FIGURE 69 ASIA PACIFIC: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 244 FIGURE 70 ASIA PACIFIC: GDP PER CAPITA, BY COUNTRY, 2024–2026 245 FIGURE 71 ASIA PACIFIC: INFLATION RATE AVERAGE CONSUMER PRICES, BY COUNTRY, 2024–2026 245 FIGURE 72 ASIA PACIFIC: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 245 FIGURE 73 ASIA PACIFIC: ELECTRIC BUS MARKET SNAPSHOT 246 FIGURE 74 EUROPE: REAL GDP GROWTH RATE, BY COUNTRY, 2024-2026 259 FIGURE 75 EUROPE: GDP PER CAPITA, BY COUNTRY, 2024-2026 259 FIGURE 76 EUROPE: INFLATION RATE AVERAGE CONSUMER PRICES, BY COUNTRY, 2024-2026 260 FIGURE 77 EUROPE MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 260 FIGURE 78 EUROPE: ELECTRIC BUS MARKET, BY COUNTRY, 2025 VS. 2032 (USD MILLION) 262 FIGURE 79 NORTH AMERICA: REAL GDP GROWTH RATE, BY COUNTRY, 2024-2026 281 FIGURE 80 NORTH AMERICA: GDP PER CAPITA, BY COUNTRY, 2024-2026 281 FIGURE 81 NORTH AMERICA: CPI INFLATION RATE, BY COUNTRY, 2024-2026 282 FIGURE 82 NORTH AMERICA MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 282 FIGURE 83 NORTH AMERICA: ELECTRIC BUS MARKET SNAPSHOT 283 FIGURE 84 LATIN AMERICA: REAL GDP ANNUAL PERCENTAGE CHANGE, 2024–2026 288 FIGURE 85 LATIN AMERICA: GDP PER CAPITA, 2024–2026 288 FIGURE 86 LATIN AMERICA: AVERAGE CPI INFLATION RATE, 2024–2026 289 FIGURE 87 LATIN AMERICA: MANUFACTURING INDUSTRY’S VALUE (AS PART OF GDP), 2024 289 FIGURE 88 LATIN AMERICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025 VS. 2032 (USD MILLION) 289 FIGURE 89 MIDDLE EAST & AFRICA: REAL GDP ANNUAL PERCENTAGE CHANGE, 2024–2026 298 FIGURE 90 MIDDLE EAST & AFRICA: GDP PER CAPITA, 2024–2026 299 FIGURE 91 MIDDLE EAST & AFRICA: AVERAGE CPI INFLATION RATE, 2024–2026 299 FIGURE 92 MIDDLE EAST & AFRICA: MANUFACTURING INDUSTRY’S VALUE (AS PART OF GDP), 2024 299 FIGURE 93 MIDDLE EAST & AFRICA: ELECTRIC BUS MARKET, BY COUNTRY, 2025 VS. 2032 (USD MILLION) 300 FIGURE 94 ASIA: MARKET SHARE OF KEY PLAYERS, 2024 308 FIGURE 95 EUROPE: MARKET SHARE OF KEY PLAYERS, 2024 309 FIGURE 96 NORTH AMERICA: MARKET SHARE OF KEY PLAYERS, 2024 310 FIGURE 97 REVENUE ANALYSIS FOR TOP LISTED PLAYERS, 2020–2024 313 FIGURE 98 ELECTRIC BUS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 314 FIGURE 99 ELECTRIC BUS MARKET: COMPANY FOOTPRINT, 2024 315 FIGURE 100 ELECTRIC BUS MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 320 FIGURE 101 COMPANY VALUATION FOR KEY PLAYERS, 2024 (USD BILLION) 323 FIGURE 102 EV/EBITDA OF KEY PLAYERS, 2024 323 FIGURE 103 ELECTRIC BUS MARKET: BRAND/PRODUCT COMPARISON 324 FIGURE 104 BYD COMPANY LTD.: COMPANY SNAPSHOT 333 FIGURE 105 YUTONG BUS CO., LTD.: COMPANY SNAPSHOT 342 FIGURE 106 DAIMLER TRUCK AG: COMPANY SNAPSHOT 354 FIGURE 107 NFI GROUP: COMPANY SNAPSHOT 361 FIGURE 108 AB VOLVO: COMPANY SNAPSHOT 367 FIGURE 109 CAF (SOLARIS BUS & COACH SP. Z O.O.): COMPANY SNAPSHOT 372 FIGURE 110 ZHONGTONG BUS HOLDING CO., LTD.: COMPANY SNAPSHOT 377 FIGURE 111 CRRC CORPORATION LIMITED: COMPANY SNAPSHOT 380 FIGURE 112 VDL GROEP: COMPANY SNAPSHOT 384 FIGURE 113 EBUSCO: COMPANY SNAPSHOT 387 FIGURE 114 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: COMPANY SNAPSHOT 392

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