According to the research report ‘Global Electric Bus Market (Value, Volume) - Analysis By Propulsion Type (Battery, Hybrid, Fuel Cell), Consumer, By Region, By Country (2022 Edition): COVID-19 Implications, Competition, and Forecast (2022-2027)’, available with MarketStudyReport, global electric bus market was worth USD 33.72 billion in 2021 and is anticipated to accumulate notable valuation by the year 2027.

Report findings suggests that rising disposable income of individuals in developing nations with booming population, and growing usage of electronic vehicles around the world are the major growth stimulants for global electric bus market.

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Furthermore, advancements in electric buses, in consort with their penetration across various sectors, and stringent government regulations concerning the environment are expected to augment the marketplace in the coming years.

In terms of consumer type, the market is divided into fleet operator, and government. Among these, the government segment is slated to account for major revenue share during the analysis timeframe, due to increasing focus to provide convenience in transportation and better comfort to commuters, while ensuring lesser pollution and greener environment.

Based on propulsion type, worldwide electric bus industry is branched into fuel cell electric bus, hybrid electric bus, and battery electric bus. Among these, the battery electric bus segment is slated to grow significantly over the stipulated timeframe, owing to higher concentration of electric bus manufacturers across the globe, and stricter emission laws.

Regionally speaking, the industry trends are studied across North America (U.S., Canada), Europe (France, UK, Germany, France), and Asia Pacific (China, India, Japan, Australia). Among these, Asia Pacific market is poised to hold substantial revenue share over the stipulated timeframe, owing to surging urban population, soaring electronic technologies, and rising disposable income of individuals in the region.

Volvo Group, NFI Group, VDL Groep, Xiamen King Long United Automotive Industry Co., Ltd., Daimler AG, Proterra Inc., Scania AB, CAF Group, Forsee Power, and BYD Auto Co., Ltd. are the leading players in global electric bus market. These giants are focusing on strategies like mergers & acquisitions, collaborations & partnerships, and innovative launches to reinforce their position in the market.