North America Electric Bus Market size exceeded USD 250 million in 2020 and is expected to witness over 18% CAGR from 2021 to 2027. The increasing focus on reducing hazardous emissions and ensuring a cleaner environment has boosted the development of electric public transport systems. Growing advancements in transportation technology and rising tourism across North America are propelling the demand for electric buses.
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Transportation authorities in the U.S. and Canada are undertaking initiatives to develop the charging infrastructure in the region. For instance, in June 2021, the U.S. Department of Transportation’s Federal Transit Administration (FTA) allocated USD 182 million in grants to 49 electric bus projects in 46 states. The FTA has also initiated the Low-No Program, which helps transportation agencies to lease or purchase hydrogen buses, electric buses, and other vehicles that use clean technologies. The program also supports the U.S. goal of reducing carbon emissions by 50% by 2030.
North America Market, By Type
The all-electric bus segment is set to witness significant growth through 2027, due to increasing government focus on strengthening the charging infrastructure of electric vehicles. The growing demand to improve carbon footprints has encouraged government authorities in various countries to invest in electric buses.
North America Market, By Seating Capacity
70+ seater electric bus market will gain substantial popularity in North America during the forecast period, owing to their large seating capacity and space-efficient interiors. These buses are used for intracity and intercity travel. The spacious floor design, increased luggage capacity over long distances, a wide-angle view, and comfortable seats are among the key contributors to the increasing adoption.
Competitive Industry Landscape
Prominent players in the North America electric bus market include Anhui Ankai Automobile Co., Ltd., BYD Company Limited, Daimler AG, NFI Group, Inc., Proterra, Inc., GreenPower Motor Company Inc., and New Flyer of America.
Manufacturers are focusing on introducing new electric bus models with high battery efficiencies to strengthen their market position. For instance, in March 2021, New Flyer launched an electric bus, Xcelsior Charge NG in Minnesota, U.S. It is a heavy-duty transit bus equipped with next-generation high-energy batteries. This launch will aid the company to strengthen its electric bus product portfolio.