The global Electric Mid- and Large (9-14m) Bus market size is expected to reach USD 12.25 Million by 2032, according to a new study by Polaris Market Research. The report “Electric Mid- and Large (9-14m) Bus Market Share, Size, Trends, Industry Analysis Report, By Propulsion (FCEV, Diesel/Gasoline/CNG-LNG, HEV/PHEV, BEV, LFP); By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global electric Mid- and Large (9-14m) bus industry is experiencing growth propelled by an increasing demand for environmentally friendly, air-purifying, and fuel-efficient buses. Major countries are undertaking initiatives to replace their conventional bus fleets with electric buses. The surge is further fueled by escalating environmental concerns, stringent regulations, and governmental efforts to achieve zero-emission targets.
The Chinese government's policies favor electric mid- & large buses over their internal combustion engine (ICE) counterparts, providing advantages such as exemptions from specific traffic restrictions or congestion charges, priority access to bus lanes, and preferential parking policies. The New Energy Vehicle Subsidy Program reinforces this preference by granting subsidies based on size and range for the procurement of new energy vehicles, including electric mid- & large buses. For instance, a 12-meter electric bus with a range of 200 kilometers may be eligible for a subsidy of ¥500,000 (USD 75,000). Consequently, China is positioned to wield a significant impact on the future of both the electric bus (ebus) and the overall bus market, maintaining a market share of over 40% for both until 2030.
There is a significant shift anticipated in the procurement practices of operators and cities within the electric mid- & large bus sector. This transition entails a departure from capital expenditure (CAPEX) towards operational expenditure (OPEX)-based purchasing. It involves the adoption of new business models like "bus-as-a-service," "battery-as-a-service," and "depot-as-a-service," driven by the heightened CAPEX costs of electric buses (eBuses) and the necessity for long-term support of batteries and infrastructure. Public transport operators are benefiting from smart card and NFC ticketing solutions introduced by NXP's Mifare, making the original transit cards obsolete in many cities.
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Countries seeking to replace their current public bus fleets to electric are exploring electric buses ranging from 9 to 14 meters. For instance, the Indian government is offering incentives, providing up to a 40% reduction in the cost of a bus, equivalent to USD 77,000 for a typical electric bus measuring 10 to 12 meters in length. Such initiatives are expected to boost the acceptance of electric buses in this category in the future.
Electric Mid- and Large (9-14m) Bus Market Report Highlights
Polaris Market Research has segmented the Electric Mid- and Large (9-14m) Bus market report based on propulsion, application, and region:
Electric Mid- and Large (9-14m) Bus, Propulsion Outlook (Revenue - USD Million, 2019 - 2032)
Electric Mid- and Large (9-14m) Bus, Application Outlook (Revenue - USD Million, 2019 - 2032)
Electric Mid- and Large (9-14m) Bus, Regional Outlook (Revenue - USD Million, 2019 - 2032)
Report Attributes |
Details |
Market size value in 2024 |
USD 10,717.2 million |
Revenue Forecast in 2032 |
USD 38,920.0 million |
CAGR |
17.5% from 2024 – 2032 |
Base year |
2023 |
Historical data |
2019 – 2022 |
Forecast period |
2024 – 2032 |
Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
Segments Covered |
By Propulsion, By Application, By Region |
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
For Specific Research Requirements |