Electric Mid- and Large (9-14m) Bus Market

Electric Mid- and Large (9-14m) Bus Market Overview

The global Electric Mid- and Large (9-14m) Bus Market size was valued at USD 8.41 billion in 2023 and is predicted to reach USD 24.61 billion by 2030 with a CAGR of 16.6% from 2024-2030.

The electric mid- and large (9-14m) bus market consists of electric-powered buses designed for public and commercial transportation. These buses operate using electric motors driven by rechargeable batteries and offers a sustainable alternative to diesel and gasoline-powered models. They are increasingly being adopted in urban public transit, school transportation, and corporate fleets to meet the rising demand for cleaner alternatives as they provide zero emissions and operate with significantly lower noise levels. Electric models when compared with traditional buses, deliver superior energy efficiency and require less maintenance that thereby, makes them an appealing solution for transit authorities and operators aiming to upgrade their transportation systems.

Market Dynamics and Trends

The rising urbanization across the world driven by population growth and economic development fuels the growth of the market, as with the expansion of urban areas, the demand for efficient and environmentally friendly public transportation option increases, leading city planners and transit authorities to invest in electric buses. As per the latest report published by the UN Population Division, the global urban population accounted for 4.52 billion in 2022 as compared to 4.45 billion in 2021, representing a growth of 1.57% from 2021. The surge in urban population highlights the electric mid- and large (9-14m) bus market demand for electric buses to provide sustainable and eco-friendly public transport.

Additionally, the global expansion in battery packs propel the growth of the market as increased battery manufacturing capacity led to improved energy density, enabling electric buses to achieve longer ranges and faster charging times. As per the latest report published by the International Energy Agency (IEA), the global value for battery packs in electric vehicles (EVs) accounted to USD 108 billion in 2023 and is projected to grow to USD 431 billion by 2030 . The rise in higher battery availability encourages transit operators to invest in electric mid and large buses for eco-friendly transportation.

Moreover, the increasing level of carbon dioxide emissions facilitate the transition towards sustainable transportation solutions that further fuels the electric mid- and large (9-14m) bus market growth. As concerns about air quality and climate change intensify, city planners and governments increasingly invest in electric buses to lower emissions and improve the sustainability of public transport systems.

As per the latest report published by the National Oceanic Atmospheric Administration (NOAA) Global Monitoring Lab, the global average carbon di oxide recorded 426.9 ppm in June 2024 as compared to 420.9 ppm in June 2022. The growth in carbon-di-oxide emissions increases the demand for the electric buses to reduce air pollution and combat climatic change.

However, high upfront and installation costs associated with charging infrastructure and supporting systems restraints the market, making it challenging for smaller operators to adopt these technologies.

On the contrary, the integration of wireless charging in electric mid- and large (9-14m) buses is anticipated to create a growth of the market. This technology minimizes downtime and allows buses to recharge while stationary or at designated stops and enhances operational efficiency and service flexibility. It further extends battery lifespan by reducing the need for rapid, high-power charging, supporting effective management.

Market Segmentations and Scope of the Study

The electric mid- and large (9-14m) bus market report is segmented on the basis of charging infrastructure, propulsion, configuration, application, and region. On the basis of charging infrastructure, the market is divided into depot charging, opportunity charging, and wireless charging. On the basis of propulsion, the market is segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV), and fuel cell electric vehicle (FCEV). On the basis of configuration, the market is bifurcated into light duty and heavy duty. On the basis of application, the market is classified into city or transit bus, coach bus, and midi or school bus. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia-Pacific holds the dominant in electric mid- and large (9-14m) bus market share and is projected to continue its dominance throughout the forecast period. This is attributed to the growing adoption of electric vehicles (EVs) in the region that promotes city planners and transit authorities to enhance their public transportation offerings with electric mid- and large buses for cleaner and more sustainable transportation options grows.

As per the latest report published by the International Energy Agency (IEA), the total electric car sales in China accounted for 10.1 million in 2024 as compared to 8.1 million in 2023, representing a growth rate of 24.7% from 2023. The surge in electric sales accelerates the investment in more electric buses for reducing emissions and improving air quality within the region.

Moreover, the expansion in carbon dioxide levels within the region accelerates the demand of electric buses as cities seek eco-friendly public transportation alternatives to combat rising emissions.  As per the latest report published by the Climate Watch, the carbon dioxide (CO2) emissions in India recorded to 2760 metric tonnes in 2022. The high carbon dioxide content in the environment promotes governments and transit authorities to invest in electric buses to reduce emissions and support better air quality that further propels the growth of the market.

On the other hand, North America shows a steady growth in the market due to the rising government initiatives in the region. As authorities implement stricter emission standards and provide financial incentives for green transportation, public and private sectors increasingly adopt electric mid- and large (9-14m) buses to enhance sustainable urban transportation networks.

As per the latest report published by the U.S. Department of Transportation’s Federal Highway Administration (FHWA), the government launched the National Electric Vehicle Infrastructure (NEVI) program in the U.S. that provides USD 5 billion to build national electric vehicle charging network and make electric vehicle charging accessible to all Americans. The increase in such government programs accelerates the shift towards electric buses for advancing greener public transportation facilities that in turn boosts the growth of the market.

Moreover, the presence of key market players in this region such as Proterra Inc., BYD Company Ltd, and others are further driving the innovation and growth of the market through various strategies including merger and collaborations. For instance, in May 2024, Proterra collaborated with Daimler Truck North America to supply battery technologies for electric school buses and the truck. Through this collaboration, Proterra’s high-performance battery systems enabled delivery of over 1,000 electric buses across North America and advancing electric bus technology in the commercial sector. These strategic partnerships by leading players accelerates the advancement of the devices and thereby propels the market.

Competitive Landscape

The electric mid-and large (9-14m) bus industry comprises of various key players that includes Yutong Bus Co. Ltd., AB Volvo, VDL Bus & Coach, Zhongtong Bus Holding Co. Ltd., King Long United Automotive Industry Co. Ltd., Solaris Bus & Coach sp z o.o., Tata Motors Ltd., PMI Electro Mobility, Hyundai Motor Company, Nova Bus, and others. These companies are adopting various strategies such as product launch and collaboration to maintain their dominance in the market.

For instance, in March 2024, Volvo Buses launched Volvo 8900 electric intercity bus that is designed for energy efficiency and low emissions, supporting sustainable long-distance travel. It aims at offering increased passenger capacity and a long battery range suited to intercity routes and serves the growing demand for electric solutions in intercity travel.

Additionally, in October 2023, Iveco collaborated with Hyundai and launched the IVECO BUS E-WAY H2 incorporating Hyundai’s advanced fuel cell system and designed for urban transit. It offers range of up to 450 km with flexible refueling options through hydrogen or plug-in charging. This collaboration aims at providing sustainable and low-carbon urban mobility solutions in global markets.

Moreover, in October 2022, Nova Bus collaborated with BAE Systems to deliver zero-emission buses to Texas. Through this partnership, it aims to enhance the availability of environment friendly public transportation and contributing to greener future.

Key Benefits

• The report provides quantitative analysis and estimations of the electric mid- and large (9-14m) bus industry from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the current and future electric mid- and large (9-14m) bus market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the electric mid- and large (9-14m) bus industry is provided in the report.

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders

Electric Mid- and Large (9-14m) Bus Market Key Segments

By Charging Infrastructure

• Depot Charging

• Opportunity Charging

• Wireless Charging

By Propulsion

• Battery Electric Vehicle (BEV)

• Hybrid Electric Vehicle (HEV)

• Fuel Cell Electric Vehicle (FCEV)

By Configuration

• Light Duty

• Heavy Duty

By Application

• City or Transit Bus

• Coach Bus

• Midi or School Bus

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• Yutong Bus Co. Ltd.

• AB Volvo 

• VDL Bus & Coach

• Zhongtong Bus Holding Co. Ltd.

• King Long United Automotive Industry Co. Ltd.

• Solaris Bus & Coach sp z o.o.

• Tata Motors Ltd.

• PMI Electro Mobility

• Hyundai Motor Company

• Nova Bus

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	USD 8.41 Billion
Revenue Forecast in 2030	USD 24.61 Billion
Growth Rate	CAGR of 16.6% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	The rising urbanization drives the growth of the market. The global expansion in battery packs fuels the market. The increasing carbon dioxide gas in the environment propels the market.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.