North American Electric Bus Market size is predicted to reach USD 850 million by 2027, according to a latest forecast report by Graphical Research.
Low maintenance requirements in electric buses resulting in the reduction in the total ownership costs will propel their adoption over the forecast timeframe. The maintenance costs for electric motors are much lower than the conventional models as they have fewer moving parts as compared to conventional buses. Diesel, CNG, and hybrid buses have higher maintenance requirements. The type of maintenance in diesel buses include filter replacements, frequent oil changes, exhaust system repairs, periodic tune ups, and water pump, fuel pump & alternator replacements, etc. The Lithium-Ion Batteries (LIBs) that are used in electric buses require minimal maintenance.
The EV charging infrastructure in the U.S. is witnessing rapid development due to increasing public expenditure. For instance, in April 2021, the Department of Energy announced new funding and partnerships for charger-related research and development. President Biden’s American Jobs Plan includes USD 15 billion investment to fund this vision and construct a national network of 500,000 charging stations. Supportive government policies coupled with rising public infrastructure will boost the market growth.
Browse detailed statistical insights from the report, “North America Electric Bus Market Forecast 2027 By Battery Capacity (Below 100 kWh, 100 - 300 kWh, above 300 kWh), By Type (All-Electric, PHEV, FCEV), By Seating Capacity (Below 40 Seats, 40 - 70 Seats, above 70 Seats), By Application (Intracity, Intercity), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The outbreak of COVID-19 in the U.S. and Canada had a severe impact on the regional automotive industry, which was already experiencing a sluggish growth before the pandemic struck. This has subsequently resulted into a decline in sales revenues for electric bus manufacturers in the region. The sealing of international borders and restrictions on trade by several countries in Asia Pacific and Europe severely impacted the manufacturing sectors in the U.S. In the long run, the North America market is expected to be driven by supportive policy regulations, high focus on electrification of public transport, and introduction of new U.S. developed models.
The above 300 kWh battery capacity segment is witnessing a high growth during the forecast period owing to its increasing adoption in electric buses to provide better range, in terms of kilometers covered. The higher capacity of the charge stored by the battery is proportional to the kilometers covered by the bus. Market players, such as Volvo, Daimler, Scania AB, and Yutong, are increasingly focusing on integrating their electric buses with high-capacity battery packs.
The market for electric bus in North American research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
North America Market, By Type
North America Market, By Battery Capacity
- Below 100 kWh
- 100-300 kWh
- Above 300 kWh
North America Market, By Seating Capacity
- Below 40 seats
- 40-70 seats
- Above 70 seats
North America Market, By Application
The above information has been provided for the following countries: