Market Overview:
The United States electric bus market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 12.9% during 2024-2032.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 1.9 Billion |
Market Forecast in 2032
|
US$ 5.8 Billion |
Market Growth Rate 2024-2032 |
12.9% |
An electric bus (also known as an e-bus) operates using electric motors instead of the conventional internal combustion engine (ICE). Generally driven by onboard electric motors that receive the power from a set of batteries, these buses can also function using an external energy source, such as a power grid. E-buses are widely employed across the United States as a preferred means of transportation due to their eco-friendly nature, low to zero emissions, quiet operations, minimal maintenance, and long-term cost-effectiveness.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
United States Electric Bus Market Trends:
The market is primarily driven by the lowering costs of lithium-ion (Li-ion) batteries, which form an essential component in electric buses. In addition to this, the growing concerns among environmental agencies and local governments regarding the deteriorating environmental conditions are significantly contributing to the adoption of electric buses across the country. This can be attributed to the emissions by urban vehicles and an enhanced focus on sustainable development. In line with this, the implementation of strict emission control regulations across the US promoting zero-emission vehicles is boosting the market growth. Moreover, a considerable increase in federal funding for expanding the deployment of zero-emission buses with improved operational efficiencies is acting as another major growth-inducing factor. The market is further driven by continual improvements in the electric bus charging infrastructure and the widespread adoption of inductive charging technology. Some of the other factors that are providing an impetus to the market include the escalating preference for fuel-efficient and low-emission buses, the increasing oil prices in the country, and the rising concerns over the rapid depletion of fossil fuels.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the United States electric bus market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on propulsion type, battery type, length, range and battery capacity.
Breakup by Propulsion Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Breakup by Battery Type:
- Lithium-ion Battery
- Nickel-Metal Hydride Battery (NiMH)
- Others
Breakup by Length:
- Less than 9 Meters
- 9-14 Meters
- Above 14 Meters
Breakup by Range:
- Less than 200 Miles
- More than 200 Miles
Breakup by Battery Capacity:
- Up to 400 kWh
- Above 400 kWh
Breakup by Region:
- Northeast
- Midwest
- South
- West
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Propulsion Type, Battery Type, Length, Range, Battery Capacity, Region |
Region Covered |
Northeast, Midwest, South, West |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the United States electric bus market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the United States electric bus market?
- What are the key regional markets?
- What is the breakup of the market based on the propulsion type?
- What is the breakup of the market based on the battery type?
- What is the breakup of the market based on the length?
- What is the breakup of the market based on the range?
- What is the breakup of the market based on the battery capacity?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the United States electric bus market and who are the key players?
- What is the degree of competition in the industry?