Posted by United States Electric Bus Market Overview 2024-2032
The latest report by IMARC Group, titled “United States Electric Bus Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the market share. The United States electric bus market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 12.9% during 2024-2032.
Electric buses, characterized by their use of electric motors for propulsion, are increasingly being adopted across various transit agencies due to their environmental and economic benefits. These buses operate on electricity, typically stored in onboard batteries, which can be recharged from the grid. This technology starkly contrasts with traditional buses that rely on combustion engines, emitting pollutants. Electric buses offer a quieter, smoother ride, and are capable of significantly reducing operational costs over time due to lower fuel and maintenance expenses.
They include a variety of models such as battery-electric buses (BEBs), hybrid electric buses (HEBs), and fuel cell electric buses (FCEBs). Each type serves different operational needs and infrastructure capabilities. BEBs, which run solely on battery power, are particularly popular in urban settings due to their zero tailpipe emissions. The adaptation of electric buses supports efforts toward achieving reduced greenhouse gas emissions, aligning with federal and state regulations aimed at combating climate change and promoting air quality.
United States Electric Bus Market Trends and Drivers:
The growth of the electric bus market in the United States is propelled by the increasing environmental awareness and regulatory pressures. Federal and state mandates aimed at reducing carbon footprints have led to significant investments in electric bus fleets and the necessary charging infrastructure. For instance, California’s innovative clean transit (ICT) regulation requires all public transit agencies to transition to a fully zero-emission bus fleet by 2040, which has set a precedent for other states.
Economic incentives also play a crucial role in this market expansion. Various grants and funding opportunities, such as those provided by the Federal Transit Administration’s Low or No Emission Grant program, reduce the upfront cost barriers associated with acquiring electric buses and building charging stations. This financial support makes the transition more feasible for public and private transportation entities alike. Technological advancements are further accelerating the adoption of electric buses. Improvements in battery technology have led to longer ranges and shorter charging times, making electric buses more practical for a wider range of transit applications. Additionally, the integration of renewable energy sources with charging infrastructure is becoming more prevalent, enhancing the sustainability profile of electric transit solutions.
Moreover, the shift toward smart transportation solutions and digitalization is influencing the electric bus market. Features such as real-time tracking, automated routing systems, and advanced safety protocols are being integrated into electric bus operations, enhancing efficiency and passenger satisfaction.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/united-states-electric-bus-market/requestsample
United States Electric Bus Market 2024-2032 Analysis and Segmentation:
The report segmented the market on the basis of region, propulsion type, battery type, length, range and battery capacity.
Breakup by Propulsion Type:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Breakup by Battery Type:
- Lithium-ion Battery
- Nickel-Metal Hydride Battery (NiMH)
- Others
Breakup by Length:
- Less than 9 Meters
- 9-14 Meters
- Above 14 Meters
Breakup by Range:
- Less than 200 Miles
- More than 200 Miles
Breakup by Battery Capacity:
- Up to 400 kWh
- Above 400 kWh
Breakup by Region:
- Northeast
- Midwest
- South
- West
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024- 2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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