Home » Electric School Bus Market Size, Share | Forecast Report 2022-27

Electric School Bus Market Size, Share | Forecast Report 2022-27

by Nathan Zachary
Electric School Bus Market Report by IMARC Group

The latest research study “Electric School Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global electric school bus market is expected to exhibit a CAGR of 34.5% during 2022-2027.

An electric school bus is an electric vehicle (EV) that operates smoothly without noise, enabling the driver to concentrate on the road ahead. It requires less maintenance than conventional fuel-powered school buses that run on diesel, compressed natural gas (CNG), propane, or gasoline. It also reduces operational costs, generates new jobs in green manufacturing, and provides valuable storage for renewable energy via vehicle-to-grid (V2G) technologies. At present, electric school bus finds extensive applications in schools for generating additional revenue by selling excess electricity to energy providers.

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Year considered to estimate the market size:

  • Base year of the analysis: 2021
  • Historical period: 2016-2021
  • Forecast period: 2022-2027

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

What are the key industry trends of the global electric school bus market?

The global electric school bus market is primarily driven by the rising demand for high-performance and fuel-efficient school buses. Additionally, there is a rise in cognitive development and physical health issues among students due to the widespread use of diesel school buses. Along with this, technological advancements in the automotive industry are contributing to market growth. Moreover, the increasing awareness about numerous benefits of electric school buses, such as functional safety and high voltage, reliability, durability, and cold weather performance, has augmented the product demand.

Besides this, the easy availability of charging infrastructure and electronic components has catalyzed market growth. Furthermore, several key players are providing technical assistance to school districts and developing localized electric school bus transition plans, which in turn is driving the market further. Other factors, including favorable government policies, declining battery prices, surging air pollution levels, and rapid urbanization, are also anticipated to create a positive market outlook.

Who are the leading players in electric school bus market?

Beiqi Foton Motor Co. Ltd. (Beijing Automotive Group Co. Ltd.), BYD Company Ltd., Collins Bus Corporation (REV Group Inc.), Dominion Energy Inc., Blue Bird Corporation, Mercedes-Benz Group AG, Navistar International Corporation (Traton Group) and The Lion Electric Company.

Get the table of contents with all detailed informationhttps://www.imarcgroup.com/electric-school-bus-market

Key Market Segmentation:

The report has segmented the market on the basis of region, type, capacity design type, sales channel and application.

Breakup by Type:

  • Battery Electric School Bus
  • Hybrid School Bus

Breakup by Capacity Design Type:

  • Type A
  • Type C
  • Type D

The Breakup by Sales Channel:

  • Direct Sales
  • Distributor

Breakup by Application:

  • Preschool Education
  • Primary School
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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