The U.S. electric bus market generated revenue worth $445.7 million in 2018 and is projected to register a CAGR of 23.9% during 2019–2024. Among vehicles, hybrid electric vehicles held the largest share in the market during the historical period.
Advanced hybrid electric buses are currently being deployed by many transit agencies in the U.S. Moreover, public and private investments over the last two decades have facilitated development of the technology used in these buses to the point where it has become viable and competitive with respect to an internal combustion engine (ICE). This has supported the dominance of this category in the U.S. electric bus market.
Increasing Preference for Depot Charge Buses over On-Route Charge Buses
Growing preference for depot charge buses is the key trend observed in the U.S. electric bus market. Battery electric buses are currently offered in two models. One is a short-range bus that uses small on-board batteries for traction, which are charged en route. The other is an extended-range bus that is equipped with larger on-board batteries, which undergo slow overnight charging. In the past, the majority of the buses procured in the country were on-route charge buses; however, recent procurement orders have majorly been for depot charge buses. This is due to the similar operational characteristics of these buses as those of conventional diesel buses. Furthermore, with improving battery technology, the range of depot charge buses is improving, enabling longer route coverage.
Long-Term Economic Benefits to Transit Agencies Boosting the Market Growth
Unlike ICEs, electric buses offer life cycle-cost advantages, as they convert electric energy into motion more efficiently and have comparatively less moving parts. These factors make them less complicated and cheaper and also facilitate more power generation for propulsion and easy maintenance over the time. Due to these benefits, many local governments in the country are planning to make their bus fleets all-electric in the next few years. New York City, which has the largest bus network in the U.S. articulated that the city’s 5,700 buses will be zero-emission electric by 2040. Furthermore, Los Angeles, which has the country’s second-largest bus fleet network, plans to transform all 2,300 buses to electric by 2030. Thus, long-term economic benefits to transit agencies can be viewed as one of the major factors boosting the growth of the U.S. electric bus market.
Segmentation Analysis of U.S. Electric Bus Market
Competitive Landscape of U.S. Electric Bus Market
The U.S. electric bus market is currently in its nascent phase, with the presence of few key manufacturers. Some of the major battery electric bus manufacturers in the country are Proterra Inc., BYD Motors Inc., and NFI Group Inc. Furthermore, key hybrid electric bus manufacturers in the market are GILLIG LLC and NFI Group Inc.
Browse report overview with detailed TOC on "U.S. Electric Bus Market by Vehicle Type (BEB, PHEB, HEB), by Length (> 40 feet, < 40 feet), by Battery (Li-Ion, NiMH), by Charging Type (Plug-In, Pantograph, Inductive) – Market Size, Share, Development, Growth, and Demand Forecast, 2015–2024" at:https://www.psmarketresearch.com/market-analysis/us-electric-bus-market
In April 2019, Allison Transmission Inc. unveiled new ABE series, the first e-axle advanced ultra-low floor electric bus powertrain system at the Advanced Clean Advanced Clean Transportation Expo. Furthermore, in December 2018, NFI Group Inc. announced that it was awarded a contract for seven 40-foot battery electric Xcelsior Charge heavy-duty transit buses by the Victor Valley Transit Authority (VVTA).
Some other notable players operating in the U.S. electric bus market are Blue Bird Corporation, GreenPower Motor Company Inc., COBUS Industries GmbH, ElDorado National California Inc. and Nova Bus Corporation.