U.S. Electric School Bus Market is expected to foresee significant growth. California to lead the growth!
- Himanshu Patni
- November 19, 2022
- Electric School Bus Market, Electric School Bus Market Analysis, Electric School Bus Market Growth, Electric School Bus Market Share, Electric School Bus Market Size, Electric School Bus Market Trends
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The U.S. Electric School Bus Market is estimated to grow at a CAGR of around 25% during 2021–2027. The key factors responsible for the growth of the market include environmental benefits, stricter regulatory measures to reduce emissions, the availability of local, state, and federal funding for zero-emission buses, long-term economic benefits to transit agencies, falling battery costs, and improving operational efficiencies. In addition, federal programs offer widespread opportunities to reduce the costs of electric school bus adoption. For instance, The School Bus Replacement Program nested under the Diesel Emissions Reductions Act (DERA) program specifically funds school bus replacements or retrofits. Funding amounts for this program have steadily increased—in 2019, DERA awarded $11.5 million to replace or retrofit old diesel school buses to school districts across the country.
The electric bus market has been significantly impacted by COVID-19. The entire ecology was disrupted, which led to a worldwide halt in the new electric bus’s manufacture and sales. OEMs’ operations were hampered by the need to delay manufacturing until lockdowns were lifted. The demand for automobiles in general, and electric vehicles (EVs) in particular, were hindered by the precautionary measures implemented by the federal and various state governments, such as complete lockdown and even curfew in hotspot locations. Significant commercial and financial disruptions in the EV business were triggered by COVID-19, which severely affected important American markets. However, the national, state, and local governments worked towards financial stability and provided support through regulations to encourage the purchase of low- or zero-emission vehicles (ZEVs). Thus, as a result of these reasons, the pandemic had little of an effect on the market for electric buses.
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Based on design, the market is bifurcated into Type A & B, Type C, and Type D. In 2020, Type C category buses accounted for a significant share of the market. Type C buses, typically carry up to a maximum of 60 and 72 students and tend to make longer trips than type A buses. Furthermore, almost every major manufacturer in the market offers a type C bus, giving school districts a variety of options. In addition, these manufacturers are continuously working on launching electric school buses with advanced and improved technology, offering higher distance range and running cost efficiency.
Based on type, the market is bifurcated into battery-electric buses and hybrid electric buses. The BEBs category is expected to witness the fastest growth in the U.S. electric bus market over the forecast period. This is mainly attributed to the fact that BEBs have evolved over time, especially in terms of batteries coupled with assistance from both government and private programs. Additionally, most urban areas in the country experience air quality problems, which is prompting private and government transit agencies to purchase BEBs.
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For a better understanding of the market, the report is analyzed based on different states including California, New York, Texas, Florida, and Pennsylvania, among others. In 2020, California is expected to witness the highest adoption of electric school buses in the country owing to better policy support and a higher number of registered school buses in the state. In addition, states like California have developed their own funding programs, which have provided significant incentives for school districts and accelerated the state’s transition. California legislation has also focused heavily on reducing diesel emissions, further driving the transition.
Some of the major players operating in the market include Blue Bird Corporation, The Lion Electric Co., BYD Motors Inc., GreenPower Motor Company Inc., Navistar International Corporation, Trans Tech Bus, Daimler AG, REV Group Inc., Starcraft Bus, and Micro Bird Inc.
U.S. Electric School Bus Market Segmentation
Market Insight, by Design
- Type A & B
- Type C
- Type D
Market Insight, by Type
- Battery Electric Bus
- Hybrid Electric Bus
Market Insight, by States
- New York
Top Company Profiles
- Blue Bird Corporation
- The Lion Electric Co.
- BYD Motors Inc.
- GreenPower Motor Company Inc.
- Navistar International Corporation
- Trans Tech Bus
- Daimler AG
- REV Group Inc.
- Starcraft Bus
- Micro Bird Inc.