Electric Bus Market Booms: 60% Sales by 2050
The global electric bus market is booming, with projections showing a significant shift towards electric vehicles by 2050. Latin America, the United States, and Europe are leading the charge, while India is also making strides in its electric bus adoption.
By 2050, electric buses are expected to make up 60% of sales and 86% of the global fleet. In Latin America, the electric bus fleet has doubled between 2020 and 2023, with Santiago de Chile aiming for 4,400 e-buses by 2025. The United States saw a 12% increase in zero-emission bus adoption in 2023, totaling over 6,100 vehicles.
In Europe, the top manufacturers of e-buses in 2024 include BYD, Daimler Buses, MAN Truck & Bus, Solaris, and Chinese companies CRRC and Higer Bus. Yutong, Daimler Buses, and Wrightbus have shown significant growth in electric bus registrations. Meanwhile, India's NEBP program aims to introduce 50,000 electric buses by 2030, with Tata Motors leading the way in 2024 with 3,616 registrations.
The market share of European electric bus manufacturers has dropped from 74% to 54% since 2017, while Chinese manufacturers have increased to 24%. Analysts predict that electric buses will account for 83% of global sales by 2040, indicating a promising future for e-buses worldwide.
