India Electric Bus Market to Register a CAGR of 22.84% through 2030
The growing demand for sustainable transportation, government incentives for electric vehicles, and advancements in electric bus technology are the factors driving the market in the forecast period.
According to TechSci Research report, “India Electric Bus Market
– By Region, Competition, Opportunities, and Forecast, 2020-2030F”, the
India electric bus market was valued at USD 322.66 Million in 2024 and is
expected to reach USD 1108.88 Million by 2030 with a CAGR of 22.84% during the
forecast period. The India Electric Bus
Market is witnessing significant growth driven by the nation's emphasis on
sustainable transportation and reducing carbon emissions. Policies supporting
electric vehicle (EV) adoption, along with initiatives that encourage the shift
from conventional fuel-powered vehicles, are fueling the market. Growing
urbanization and rising air pollution in metropolitan cities are increasing the
demand for electric buses as an eco-friendly alternative to traditional
transport. Technological progress in
battery development, including more efficient lithium-ion batteries, is
enhancing the performance and range of electric buses. This progress, along
with improvements in the EV charging infrastructure, is making electric buses
more feasible for urban transportation. The integration of advanced battery
management systems and fuel cell technologies is further increasing the
efficiency of electric buses, solidifying their position as a preferred option
for public transit systems.
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India Electric Bus Market is segmented By Propulsion Type, Length, Application, and By Region.
The India electric bus market is segmented by application into intercity and intracity categories. Intercity electric buses are used for long-distance travel between cities, catering to passengers who require transportation over larger distances. These buses are typically designed with higher capacity, longer battery life, and enhanced comfort features to meet the needs of travelers on extended routes. They play a crucial role in reducing carbon emissions between cities, offering a sustainable alternative to traditional diesel-powered buses. As the demand for green transportation options grows, intercity electric buses are gaining popularity due to their cost-effectiveness and environmental benefits over long distances.
Intracity electric buses are focused on short-distance travel within cities, providing public transportation solutions for daily commuting. These buses are designed to handle the high-frequency needs of urban commuters, offering efficient, reliable, and eco-friendly solutions for city transit systems. The intracity market benefits from the increasing congestion in urban areas and the growing push toward reducing pollution. Electric buses in urban settings are seen as a cleaner, quieter, and more efficient mode of transportation compared to conventional fossil fuel-based buses. With more cities opting for electric buses to address air quality concerns and promote sustainable urban mobility, intracity electric buses are becoming a core part of India’s public transport infrastructure. Both applications are driven by the need for reducing pollution, improving energy efficiency, and meeting government sustainability targets. As urbanization continues and environmental awareness grows, both intercity and intracity electric buses are expected to play a vital role in transforming India's transportation landscape toward more sustainable practices.
In 2024, South India emerged as the fastest growing region in the India electric bus market. The region’s strong infrastructure development, growing urbanization, and commitment to sustainability have contributed to the increasing adoption of electric buses. Cities such as Bengaluru, Chennai, and Hyderabad have been at the forefront of transitioning to electric mobility solutions, driven by rising concerns over air pollution and the need for cleaner public transportation. South India’s emphasis on green transportation is supported by both government policies and local initiatives promoting electric vehicles (EVs). State governments in this region have introduced favorable policies, subsidies, and incentives to encourage the use of electric buses, making them more financially viable for urban transport systems. Moreover, the region’s rapid growth in urban areas and the rising population density have created a demand for more efficient, eco-friendly modes of transportation to address congestion and pollution issues. As more cities in South India integrate electric buses into their public transport fleets, the region is poised to lead the charge in India’s electric bus market. The combination of supportive policies, growing environmental awareness, and increasing investment in EV infrastructure ensures that South India remains the fastest growing region in the electric bus sector.
Major market players
operating in India Electric Bus Market are:
- Eicher Motors Ltd.
- JBM Auto Limited
- Olectra Greentech Ltd.
- Solaris Bus & Coach sp. z o.o.
- PMI Electro Mobility Solutions Pvt. Ltd.
- Switch Mobility Limited (Ashok Leyland Limited)
- Tata Motors Limited
- GreenCell Mobility Private Limited
- BYD Motors, Inc.
- Volvo Buses India Private Limited
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“The rising demand for
electric buses in India is fueled by factors such as government support for
electric mobility, increasing environmental awareness, and the need for
cost-effective public transport solutions. As cities focus on reducing
emissions, the adoption of electric buses is accelerating, especially with the
push for sustainable and energy-efficient transportation. Furthermore, the
shift towards cleaner energy sources and electric vehicle (EV) infrastructure
development is further boosting the market for electric buses, leading to
substantial growth in the sector", said Mr. Karan Chechi, Research
Director of TechSci Research, a global management consulting and research firm.
“India Electric Bus Market By Propulsion Type (BEV, FCEV, HEV, PHEV), Length (Less Than 10 m, More Than 10 m), Application (Intercity, Intracity), By Region, Competition Forecast & Opportunities, 2020-2030F”, evaluates the
future growth potential of the India electric bus market and provides
statistics & information on market size, structure, and future market
growth. The report aims to provide advanced market insights and assist decision-makers
in making informed investment choices. Additionally, it identifies and analyzes
emerging trends, drivers, challenges, and opportunities in the India electric
bus market.
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