Market Overview
The North American electric bus market size witnessed significant growth in the past and is expected to grow at a CAGR of around 13.09% during the forecast period (2023-2030).
E-buses use electric motors instead of ICE engines. E-bus motors are battery-powered. They're cheaper than gas/diesel buses. Demand for fuel-efficient, high-performance, low-emission buses, government vehicle emission restrictions, and lowering battery prices drive the electric bus market.
Highlights
- BEV dominates the market by propulsion type.
- Battery dominates the market by component.
- Fleet operator dominates the market by consumer segment.
- 9-14m dominates the market by the length of the bus.
- Intracity dominates the market by application.
- Less than 200 miles dominates the market by vehicle range.
- Up to 400 kWh dominates the market by battery capacity.
- Up to 250kw dominates the market by power output.
- Lithium-nickel-phosphate dominates the market by battery type.
Market Dynamics
North America Electric Bus Market Drivers
Growing Demand for Energy-Saving and Emission-Free Mass Transit Options
Transportation is a major source of GHG emissions. Due to the high cost of developing electric buses and coaches and related parts like batteries and monitoring systems, electric bus manufacturers are severely constrained by urban and regional air pollution, making up about a quarter of all energy-related greenhouse gas (GHG) emissions, according to UNEP. According to the EPA, buses also emitted 1.1% of the transportation sector's GHGs in 2019. 29% of ozone-depleting pollutants come from automobile exhaust. Many governments have implemented electric bus schemes to increase urban public transportation sustainability and fuel economy. The Federal Transit Administration (FTA) of the U.S. Department of Transportation announced USD 130 million for Low or No Emissions in June 2020.
North America Electric Bus Market Restraints
Limited Availability of Charging Infrastructure
Electric bus charging infrastructure can limit utilization. A large-scale charging infrastructure network requires significant investment and planning. Many places lack fast-charging stations for electric buses. 65% of transit agencies surveyed by the U.S. National Renewable Energy Laboratory (NREL) said the lack of charging infrastructure or its incompatibility was a major impediment to electric bus adoption. This constraint might cause range anxiety and operational issues for electric bus fleets.
North America Electric Bus Market Opportunities
Advancements in Battery Technology
Battery technology is expanding electric bus options. Battery energy density, charging speed, and durability improve electric bus range and performance. Electric buses will become more viable as battery costs drop. California-based Proterra pioneered electric bus battery technology. Proterra EnergyTM is their high-performance battery system. These battery solutions have an industry-leading energy density, allowing electric buses to travel farther per charge. Solid-state batteries could transform electric bus capabilities in the future.
Regional Analysis
The North American electric bus market is analyzed across the U.S., Canada, and Mexico. The U.S. dominated the market and is expected to grow at a CAGR of 13.27% during the forecast period.
North America is predicted to experience definite expansion. The U.S. is expected to continue to grow steadily in this area. The industry is projected to grow in the upcoming years due to the nation's strict emission regulations. North American demand for electric buses is rising due to the infrastructure's expansion, including installing more stations and charging stations. Government initiatives to enhance public transportation while lowering pollution have allowed electric buses to be developed. Governments are also ready to spend money and lower automobile levies.
Additionally, the growing emphasis on reducing carbon emissions and boosting public sector revenue has sparked the expansion of the electric bus market. They are improving transportation and greenhouse gas reduction targets.
Segmental Analysis
The North American electric bus market is segmented based on propulsion type, component, consumer segment, bus length, application, vehicle range, battery capacity, power input, battery type, and country.
Propulsion Type further segments the market into BEV, PHEV, and FCEV.
BEV segment dominates the market and is expected to grow at a CAGR of 13.14% during the forecast period.
Component further segments the market into Motor, Battery, Fuel Cell Stack, Battery Management System, Battery Cooling System, and E.V. Connectors.
Battery dominated the market and is expected to register a CAGR of 13.56% over the forecast period.
Consumer Segment further segments the market into Fleet Operators, Government.
The Fleet Operator segment dominates the market and is expected to grow at a CAGR of 12.67% during the forecast period.
The market is further segmented by Length Of The Bus into Less Than 9m, 9-14m, and Above 14m.
The 9-14m segment dominates the market and is expected to grow at a CAGR of 13.29% during the forecast period.
The market is further segmented by application into Intercity, Intracity.
Intracity dominated the market and is expected to register a CAGR of 13.38% over the forecast period.
The market is further segmented by Vehicle Range into Less Than 200 Miles, Above Miles.
The less than 200 miles segment dominates the market and is expected to grow at a CAGR of 13.40% during the forecast period.
Battery Capacity further segments the market into up to 400kwh and above 400kwh.
Up To 400 kWh segment dominates the market and is expected to grow at a CAGR of 12.90% during the forecast period.
The market is further segmented by Power Input into Up to 250kw, Above 250kw.
Up to 250kw dominated the market and is expected to register a CAGR of 12.89% over the forecast period.
The market is further segmented by Battery type into Lithium-Nickel-Manganese-Cobalt-Oxide, Lithium-Iron-Phosphate.
The lithium-Iron-Phosphate segment dominates the market and is expected to grow at a CAGR of 13.36% during the forecast period.
Top Key Players
BYD Auto
PROTERRA INC
AB VOLVO
Blue Bird Corporation
Gillig
The Lion Electric Company
Tata Motors
JBM Auto Limited (JBM Group)
Scania
Škoda Transportation
NFI Group
Others
