What are Factors Expected to Drive Progress of Electric Bus Market in United State in Future?

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According to the market research report published by P&S Intelligence, U.S. electric bus market size is projected to reach $1,948.5 million by 2024, registering a CAGR of 18.5% during the forecast period. The growth of the market is primarily driven by several federal, regional, and state grants and incentive programs. In addition, low cost of ownership, coupled with low maintenance cost of electric bus, specially battery electric bus (BEB) is expected to benefit the market during the forecast period.



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BEBs are currently available in two generalized models: a short-range bus with a smaller on-board battery that requires more frequent, on-route charging; and an extended range bus with a larger on-board battery that is designed to charge more slowly overnight (depot charge BEB). While many of the early buses deployed were on-route charge buses, the most recent orders are for depot charge buses, as they have more similar operational characteristics to a diesel bus. As battery technology improves, so do depot charge bus ranges, enabling longer route coverage.

According to the National Transit Database, nearly 38% of the nation’s active diesel buses were manufactured prior to 2007 (the year in which more stringent diesel standards went into effect). An additional around 10.5% of the buses in fleet, were manufactured between 2007 and 2010, and have not been rebuilt, so they may not meet current standards for nitrogen oxide and hydrocarbon pollution.

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The U.S. electric bus market is still in its nascent phase, with the presence of few major players. Some of the major BEB manufacturers in the market are Proterra Inc., BYD Motors Inc., and NFI Group Inc. NFI Group Inc. and Gillig LLC are the two major HEB manufacturers. Other key players operating in the market include Blue Bird Corporation, Nova Bus Corporation, ELDORADO NATIONAL-CALIFORNIA Inc., and The Lion Electric Co.

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