Electric Bus Market - Forecast(2025 - 2031)
Electric Bus Market Overview
The global market for Electric Bus is forecast to reach $10.2 billion by 2030, growing at CAGR 15.7% from 2024 to 2030.
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Buses are most preferred mode of public transportation by many people in day to day life. The growing population in urban areas has increased the demand for buses. Increasing pollution and increasing emission has encouraged the many to convert to electric vehicles in the bus fleet. Also governments' initiatives towards improving public transportation along with the growth of on-demand bus services are expected to propel the market growth. Innovation and manufacturing of vehicles have helped the industry to grow into a profitable one, especially for electric buses. The demand is also increasing for varied bus types primarily double decker and articulated buses. The increasing investment into development of gyrobuses that use flywheel energy storage, rather than overhead lines, will also drive market growth. These factors are set to boosts the market growth for Bus during the forecast period 2024-2030.