Electric buses become a huge $500 billion market

This is what market research group IDTechEx from Boston predicts in their recent report Electric Buses 2018-2038. It covers hybrid and pure electric buses, often in many new forms. Most of the top 15 EV manufacturers in the world make, or will soon make buses, including Tesla.

The causes of the growing boom in bus purchases are examined in this report, such as increasing city populations and the legal control of pollution and private car usage. Significant new developments include reinvention of buses in format and function with small buses gaining favour and seeing the most radical changes first such as autonomy and multi-functionality between car, taxi and bus. Bus Rapid Transit is getting more popular and at least 500,000 school buses are going to be pure electric to prevent pollution deaths and save a lot of money.

The world of buses is changing rapidly now and detailed new infograms and ten year forecasts in Electric Buses 2018-2038 [https://www.idtechex.com/buses ] make sense of it all, revealing many gaps in the market for new entrants.

A detailed 20 year technology roadmap predicts the radical change in most electrical and electronic parts in buses – a huge opportunity for parts suppliers with the old Tier One Supplier system breaking down.

There is a large chapter on China because most of the world’s buses are made and used there and this will not change. Indeed, the Chinese have the most ambitious rollout of bus production across the world and the most radical innovations in many cases.