Electric Bus Market Size, Share, Growth Analysis, By Propulsion Type(Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle), By Range(Less than 200 Miles, More than 200 Miles), By Battery Capacity(Up to 400 kWh, Above 400 kWh), By length of bus(less than 9 meters, 9-14 meters, and above 14 meters), By component(battery, motor, fuel cell stack, battery management system), By power output(up to 250kW and above 250kW), By application(Intercity and intracity), By battery type(lithium-nickel-manganese-cobalt oxide, lithium-iron phosphate, and others), By Region - Industry Forecast 2024-2031

In 2021, the Asia Pacific region dominated the global market with more than 167 thousand units. Wherein, China leads the regional and global markets. China is known for its massive number of electric buses. The country has more electric buses than any other country in the world. China’s goal is to have 20 million electric buses on the roads by 2030. For the use of these types of buses, the Chinese government has created public transportation zones. The government's initiatives have increased the use of battery-powered buses in the region. Furthermore, the presence of the market leader BYD is fueling the market's growth in this region. This is further supported by rapidly expanding charging infrastructure in this region bodes well for the regional electric bus market.

As per our market analysis, Europe is the second-largest contributor to the globam market revenue and it is expected to grow at a healthy CAGR over the forecast period thanks to favorable government policies and growing efforts to control vehicular emissions. Many governments in this region have begun projects to make public transportation more sustainable by deploying clean and green transportation technologies.

North America is also expected to remain one of the key contributors to the global market. Wherein, the US is expected to dominate the regional market.