Electric Bus Market: Why the U.S. Is Forecast to Grow at 17.5%
The Electric Bus Market was valued at USD 49.81 billion in 2023 and is projected to reach USD 110.44 billion by 2030, growing at a CAGR of 12.1% from 2024 to 2030. 2024 estimate: USD 55.58 billion Leading region (2023): Asia Pacific, with a 91.44% revenue share Leading type (2023): Battery electric vehicles, with a 67.6% revenue share Market Size and Growth The global Electric Bus Market was worth USD 49.81 billion in 2023 and is estimated at USD 55.58 billion in 2024. At a 12.1% CAGR, revenue should reach USD 110.44 billion by 2030. That adds roughly USD 60.6 billion in annual revenue over the forecast window, and 2030 revenue would be more than double the 2023 base. The Volume Gap Behind the Value Story Volume tells a more cautious story. According to International Energy Agency data cited in the report, nearly 50,000 electric buses were sold worldwide in 2023, only 3% of total bus sales, which lifted the global stock to around 635,000 units. Yet China, Norway, Belgium a...