Global Electric Bus Market Size & Outlook, 2023-2030
Global electric bus market, 2018-2030 (US$M)
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Global electric bus market highlights
- The global electric bus market generated a revenue of USD 33,297.3 million in 2023 and is expected to reach USD 121,988.8 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 20.4% by 2030.
- In terms of segment, lithium iron phosphate accounted for a revenue of USD 31,120.9 million in 2023.
- Lithium Nickel Manganese Cobalt Oxide is the most lucrative battery type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 33,297.3 million |
| Market revenue in 2030 | USD 121,988.8 million |
| Growth rate | 20.4% (CAGR from 2023 to 2030) |
| Largest segment | Lithium iron phosphate |
| Fastest growing segment | Lithium Nickel Manganese Cobalt Oxide |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate |
Other key industry trends
- In terms of revenue, the North America accounted for 9.1% of the global electric bus market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, China is the fastest growing regional market and is projected to reach USD 60,071.0 million by 2030.
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Electric Bus Market Scope
Electric Bus Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global electric bus market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric bus market will help companies and investors design strategic landscapes.
Lithium iron phosphate was the largest segment with a revenue share of 93.46% in 2023. Horizon Databook has segmented the Global electric bus market based on lithium nickel manganese cobalt oxide, lithium iron phosphate covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Electric Bus Battery type Outlook (Revenue, USD Million, 2018-2030)
- Lithium Nickel Manganese Cobalt Oxide
- Lithium Iron Phosphate
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Horizon Databook provides a detailed overview of global-level data and insights on the Global electric bus market , including forecasts for subscribers. This global databook contains high-level insights into Global electric bus market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global electric bus market size, by region, 2018-2030 (US$M)
Top 10 countries: Electric bus market size, 2023 (US$M)
Global electric bus market share, by battery type, 2023 & 2030 (%, US$M)
Electric bus market: Opportunity assessment by country
Global electric bus market, by region, 2023 (US$M)
| Battery type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Latin America | 456.2 | 338.8 | 312.7 | 250.7 | 297.0 | 356.1 | 429.4 | 520.5 | 634.5 | 777.8 | 958.6 | 1,187.9 | 1,480.0 | 22.8% |
| Europe | 2,643.3 | 2,027.3 | 1,927.4 | 1,832.6 | 2,215.1 | 2,706.3 | 3,321.4 | 4,095.0 | 5,072.5 | 6,312.7 | 7,893.4 | 9,916.9 | 12,518.9 | 25.2% |
| North America | 459.2 | 686.3 | 939.0 | 1,231.9 | 2,004.9 | 3,032.4 | 4,385.3 | 6,167.9 | 8,519.4 | 11,625.2 | 15,734.2 | 21,180.9 | 28,416.3 | 38.1% |
| MEA | 147.5 | 107.5 | 97.4 | 76.7 | 89.3 | 105.3 | 124.8 | 148.8 | 178.5 | 215.3 | 261.3 | 318.8 | 391.4 | 21.1% |
| Asia Pacific | 43,471.0 | 31,154.7 | 27,746.8 | 20,985.5 | 23,710.0 | 27,097.3 | 31,126.5 | 35,934.8 | 41,691.0 | 48,602.7 | 56,928.3 | 66,988.5 | 79,182.2 | 17.4% |
| Overall | 47,177.2 | 34,314.6 | 31,023.3 | 24,377.5 | 28,316.3 | 33,297.3 | 39,387.3 | 46,867.0 | 56,095.9 | 67,533.6 | 81,775.6 | 99,593.0 | 121,988.8 | 20.4% |
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