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Report
China Electric Bus Market Report and Forecast 2024-2032
Market Report I 2024-03-27 I 124 Pages I EMR Inc.
China Electric Bus Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the China electric bus market reached a value of USD 34.50 billion in 2023. Aided by the government initiatives, technological advancements, and environmental awareness, the market is projected to further grow at a CAGR of 7.20% between 2024 and 2032 to reach a value of USD 64.50 billion by 2032.
Electric buses represent a pivotal element in China's green transportation ecosystem, offering a cleaner alternative to traditional fossil fuel-powered buses. These vehicles are powered by electric batteries, providing significant advantages in terms of reducing air pollution and operational costs. The rapid expansion of China's electric bus market is a testament to the country's prowess in manufacturing and innovation in the electric vehicle (EV) sector.
Several key factors fuel the expansion of China electric bus market growth. First and foremost, the Chinese government's aggressive environmental policies and subsidies for electric vehicles have been instrumental. Initiatives aimed at curbing urban air pollution have led to the adoption of strict emission standards and financial incentives for electric bus manufacturers and purchasers, accelerating the market's growth.
Technological advancements in battery technology and electric drivetrains have also played a crucial role. Improvements in battery efficiency, life span, and cost reduction have made electric buses more viable for mass transit. Furthermore, China's robust EV charging infrastructure development has alleviated range anxiety, enabling wider adoption of electric buses across cities.
Another significant driver of the China electric bus market demand is the increasing urbanisation and public demand for cleaner, more sustainable modes of transportation. As urban populations grow, the need for efficient and environmentally friendly public transit solutions becomes paramount, pushing the demand for electric buses.
The future of the market looks promising, with continued growth anticipated as the country advances its agenda for cleaner transportation and energy independence. The ongoing development of electric vehicle technologies, coupled with supportive government policies, is expected to drive further innovations and cost reductions, making electric buses an increasingly attractive option for cities around the world.
According to the China electric bus market analysis, as the market matures, sustainability and integration with smart city initiatives will likely become key themes. Electric buses will not only contribute to reducing greenhouse gas emissions but also play a crucial role in the development of intelligent transportation systems, enhancing mobility, and quality of life in urban areas.
Market Segmentation
The market can be divided based on propulsion, length, power output, battery capacity, application, and ownership.
Market Breakup by Propulsion
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
Market Breakup by Length
- Less Than 9 Meters
- 9-14 Meters
- Above 14 Meters
Market Breakup by Power Output
- Up to 250kW
- Above 250kW
Market Breakup by Battery Capacity
- Up to 400 kWh
- Above 400 kWh
Market Breakup by Application
- Intercity
- Intracity
Market Breakup by Ownership
- Private
- Government
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the China electric bus market. Some of the major players explored in the report by Expert Market Research are as follows:
- BYD Company Limited
- Zhengzhou Yutong Bus Co., Ltd.
- Anhui Ankai Automobile Co. Ltd.
- Xiamen King Long Motor Group Co., Ltd.
- AB Volvo
- Dongfeng Motor Corporation
- Liaoning SG Automotive Group Co., Ltd.
- Higer Bus Company Limited
- Zhongtong Bus Holding Co., Ltd.
- Yangzhou Yaxing Motor Coach Co., Ltd.
- Yinlong Energy International Pte Ltd.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Electric Bus Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Electric Bus Historical Market (2018-2023)
8.3 Asia Pacific Electric Bus Market Forecast (2024-2032)
8.4 Asia Pacific Electric Bus Market breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Others
9 China Electric Bus Market Overview
9.1 Key Industry Highlights
9.2 China Electric Bus Historical Market (2018-2023)
9.3 China Electric Bus Market Forecast (2024-2032)
10 China Electric Bus Market by Propulsion
10.1 Battery Electric Vehicle
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Plug-in Hybrid Electric Vehicle
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Fuel Cell Electric Vehicle
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 China Electric Bus Market by Length
11.1 Less Than 9 Meters
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 9-14 Meters
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Above 14 Meters
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 China Electric Bus Market by Power Output
12.1 Up to 250kW
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Above 250kW
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 China Electric Bus Market by Battery Capacity
13.1 Up to 400 kWh
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Above 400 kWh
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 China Electric Bus Market by Application
14.1 Intercity
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Intracity
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 China Electric Bus Market by Ownership
15.1 Private
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Government
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter's Five Forces Analysis
16.2.1 Supplier's Power
16.2.2 Buyer's Power
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators for Demand
16.4 Key Indicators for Price
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 BYD Company Limited
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Zhengzhou Yutong Bus Co., Ltd.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Anhui Ankai Automobile Co. Ltd.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Xiamen King Long Motor Group Co., Ltd.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 AB Volvo
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Dongfeng Motor Corporation
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Liaoning SG Automotive Group Co., Ltd.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Higer Bus Company Limited
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Zhongtong Bus Holding Co., Ltd.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Yangzhou Yaxing Motor Coach Co., Ltd.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Yinlong Energy International Pte Ltd.
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Electric Bus Market: Key Industry Highlights, 2018 and 2032
2. China Electric Bus Market: Key Industry Highlights, 2018 and 2032
3. China Electric Bus Historical Market: Breakup by Propulsion (USD Billion), 2018-2023
4. China Electric Bus Market Forecast: Breakup by Propulsion (USD Billion), 2024-2032
5. China Electric Bus Historical Market: Breakup by Length (USD Billion), 2018-2023
6. China Electric Bus Market Forecast: Breakup by Length (USD Billion), 2024-2032
7. China Electric Bus Historical Market: Breakup by Power Output (USD Billion), 2018-2023
8. China Electric Bus Market Forecast: Breakup by Power Output (USD Billion), 2024-2032
9. China Electric Bus Historical Market: Breakup by Battery Capacity (USD Billion), 2018-2023
10. China Electric Bus Market Forecast: Breakup by Battery Capacity (USD Billion), 2024-2032
11. China Electric Bus Historical Market: Breakup by Application (USD Billion), 2018-2023
12. China Electric Bus Market Forecast: Breakup by Application (USD Billion), 2024-2032
13. China Electric Bus Historical Market: Breakup by Ownership (USD Billion), 2018-2023
14. China Electric Bus Market Forecast: Breakup by Ownership (USD Billion), 2024-2032
15. China Electric Bus Market Structure
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