According to the research report titled ‘Electric Bus Market Size By Type (All-electric, PHEV, FCEV), By Battery Capacity, By Seating Capacity (Below 40 Seats, 40 - 70 Seats, Above 70 Seats), By Application (Intracity, Intercity), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global electric bus market is projected to experience significant expansion between 2021-2027.
 

Surging demand for low-emission vehicles, stringent regulations regarding vehicular emissions, and increasing demand for intracity travel are key factors driving global electric bus industry growth. Moreover, flourishing travel & tourism sector is infusing growth in the market.
 

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For the unversed, an electric bus in any bus whose propulsion systems as well as accessories are completely powered by an electric source. This source can be onboard batteries, hydrogen-based fuel cells, or overhead wires which are non-emissive in nature. As concerns regarding global warming are intensifying, these vehicles will likely see increased demand in the coming years.
 

Moreover, growing focus on electrification of public transport worldwide, supportive government initiatives to develop adequate charging infrastructure, and rising inclination towards alternative fuels will accelerate global electric bus market expansion over the forecast period. Further, benefits like low maintenance costs and less energy use augment the demand for electric buses in the upcoming years.
 

While there is a positive attitude of bus operators regarding using electric, high initial costs will pose a challenge in the business sphere, claims the study.
 

Based on battery capacity, the industry is divided into below 100 kWh, 100-300 kWh, and above 300 kWh. Among these, the below 100kWh segment is anticipated to record surging demand between 2021-2027 owing to low cost in comparison to the counterparts.
 

Speaking of type, the market sphere is bifurcated into PHEV, FCEV, and all-electric. Of these, the PHEV segment is estimated to expand rapidly through 2027 due to growing regulations regarding vehicular emissions across the world.
 

As per seating capacity, global electric bus business sphere is classified into below 40 seats, 40-70 seats, and above 70 seats. Among these, the below 40 seats segment is slated to witness significant growth over the analysis period owing to rising demand for intracity travel.
 

Moving on to application scope, the industry is fragmented into intercity, and intracity. Expert analysts speculate that adoption of electric buses in transportation activities will fuel growth of intracity segment over the forecast timeframe.
 

Regionally speaking, Latin America market is projected to grow at a significant pace owing to surging demand for electric buses for travel & tourism purposes.
 

Key players influencing the overall electric bus industry trends are Anhui Ankai Automobile Co. Ltd., Zhongtong Bus Holding Co. Ltd., Beiqi Foton Motor Co. Ltd., Zhengzhou Yutong Bus Co. Ltd., BYD Co. Ltd., VDL Bus & Coach B.V., Daimler AG, Xiamen Golden Dragon Bus Co. Ltd., Ebusco, AB Volvo, Irizar Group, Tata Motors Limited, Iveco S.p.A, Solaris Bus & Coach sp. z o.o., Xiamen King Long United Automotive Industry Co. Ltd., Scania AB, MAN Truck & Bus SE, Proterra Inc., and NFI Group Inc.