Market Overview 2022-2027
The latest research study “Electric School Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global electric school bus market reached a value of US$ XX Million in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industry Definition and Application:
An electric school bus is an electric vehicle (EV) that runs on electric power as opposed to conventional school buses, which run on diesel, propane, gasoline, compressed natural gas (CNG), etc. It helps save money on operating costs, creates new jobs in green manufacturing, provides valuable storage for renewable energy through vehicle-to-grid (V2G) technologies, etc. As such, electric buses are widely used by schools to sell excess electricity to utility providers and generate additional revenue.
Global Electric School Bus Market Trends and Drivers:
The escalating fuel prices and traffic congestion levels across the globe are among the key factors driving the electric school bus market. In addition to this, these buses help connect socially excluded students who are living in far-flung areas with urban educational facilities. This, in turn, is further catalyzing the market growth. Moreover, as they are operated by professional drivers, buses usually have a lower accident rate when compared to other vehicles, which is also positively influencing the global market. Besides this, the introduction of smart traffic lights (STL) management systems in order to reduce road congestion is acting as another growth-inducing factor. In line with this, the launch of favorable policies by government bodies aimed at propelling the adoption of electric buses to reduce the emissions of greenhouse (GHGs) gases is also stimulating the market growth. Furthermore, the elevating popularity of concessionary travel bus passes and the rising usage of Big Data solutions to optimize routes, vehicle dispatch times, schedules, etc., are expected to bolster the electric school bus market in the coming years.
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|Electric School Bus Market Report Scope|
|Market size value in 2021||US$ XX Billion|
|Market forecast in 2027||US$ XX Billion|
|Growth Rate||CAGR of XX% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Capacity Design Type, Sales Channel, Application and Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||Beiqi Foton Motor Co. Ltd. (Beijing Automotive Group Co. Ltd.), Blue Bird Corporation, BYD Company Ltd., Collins Bus Corporation (REV Group Inc.), Dominion Energy Inc., Mercedes-Benz Group AG, Navistar International Corporation (Traton Group) and The Lion Electric Company.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Type:
- Battery Electric School Bus
- Hybrid School Bus
Breakup by Capacity Design Type:
- Type A
- Type C
- Type D
Breakup by Sales Channel:
- Direct Sales
Breakup by Application:
- Preschool Education
- Primary School
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Beiqi Foton Motor Co. Ltd. (Beijing Automotive Group Co. Ltd.), Blue Bird Corporation, BYD Company Ltd., Collins Bus Corporation (REV Group Inc.), Dominion Energy Inc., Mercedes-Benz Group AG, Navistar International Corporation (Traton Group) and The Lion Electric Company.
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