Mexico Electric Bus Market Report and Forecast 2025-2034
Description
The Mexico electric bus market size reached USD 245.32 Million in 2024. The market is projected to grow at a CAGR of 27.60% between 2025 and 2034, reaching almost USD 2806.98 Million by 2034.
Some of the key factors aiding the Mexico electric bus market expansion are the shift towards renewable resources and the growing focus on promoting decarbonisation in the country. Expanding EV charging infrastructure in the country is also surging the deployment of electric buses.
Proactive government measures to save crucial mineral resources and develop an electrification roadmap are expected to propel the Mexico electric bus market. For example, lithium was recognised as a strategic mineral reserve by the Mexican government in April 2022 and it announced that a newly established public entity would manage its value chain entirely. This is one of the key Mexico electric bus market trends.
Collaboration with neighbouring countries like the USA for mitigating the adverse effects of climate change is expected to favour the Mexico electric bus market growth. The Mexican government has set a target of electrifying 50% of all vehicle production by 2030 and the United States is expected to play a key role in strengthening regional supply chain networks for electric vehicles (including buses) in the market.
Private ownership is expected to account for a significant Mexico automotiveelectric bus marketshare due to their innovative technologies. For example, Volvo’s BZL technology aids the design of powerful and noiseless electric buses. Its latest buses launched in the Mexican market have predictive safety systems that ensure the security of cyclists/pedestrians. This is expected to drive the market growth in the forecast period.
Market Segmentation
Mexico Electric Bus Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Propulsion:
Battery Electric Vehicle
Plug-in Hybrid Electric Vehicle
Fuel Cell Electric Vehicle
Market Breakup by Length:
Less Than 9 Meters
9-14 Meters
Above 14 Meters
Market Breakup by Power Output:
Up to 250kW
Above 250kW
Market Breakup by Battery Capacity:
Up to 400 kWh
Above 400 kWh
Market Breakup by Application:
Intercity
Intracity
Market Breakup by Ownership:
Private
Government
Competitive Landscape
The key Mexico electric bus market players are:
BYD Motors Inc.
Mercedes-Benz Group AG
AB Volvo
Hyundai Motor Co.
Yutong Bus Co., Ltd.
Higer Bus Company Limited
Liaoning SG Automotive Group Co., Ltd.
Xiamen King Long International Trading Co., Ltd.
Anhui Ankai Automobile Co. Ltd.
Others
Some of the key factors aiding the Mexico electric bus market expansion are the shift towards renewable resources and the growing focus on promoting decarbonisation in the country. Expanding EV charging infrastructure in the country is also surging the deployment of electric buses.
Proactive government measures to save crucial mineral resources and develop an electrification roadmap are expected to propel the Mexico electric bus market. For example, lithium was recognised as a strategic mineral reserve by the Mexican government in April 2022 and it announced that a newly established public entity would manage its value chain entirely. This is one of the key Mexico electric bus market trends.
Collaboration with neighbouring countries like the USA for mitigating the adverse effects of climate change is expected to favour the Mexico electric bus market growth. The Mexican government has set a target of electrifying 50% of all vehicle production by 2030 and the United States is expected to play a key role in strengthening regional supply chain networks for electric vehicles (including buses) in the market.
Private ownership is expected to account for a significant Mexico automotiveelectric bus marketshare due to their innovative technologies. For example, Volvo’s BZL technology aids the design of powerful and noiseless electric buses. Its latest buses launched in the Mexican market have predictive safety systems that ensure the security of cyclists/pedestrians. This is expected to drive the market growth in the forecast period.
Market Segmentation
Mexico Electric Bus Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Propulsion:
Battery Electric Vehicle
Plug-in Hybrid Electric Vehicle
Fuel Cell Electric Vehicle
Market Breakup by Length:
Less Than 9 Meters
9-14 Meters
Above 14 Meters
Market Breakup by Power Output:
Up to 250kW
Above 250kW
Market Breakup by Battery Capacity:
Up to 400 kWh
Above 400 kWh
Market Breakup by Application:
Intercity
Intracity
Market Breakup by Ownership:
Private
Government
Competitive Landscape
The key Mexico electric bus market players are:
BYD Motors Inc.
Mercedes-Benz Group AG
AB Volvo
Hyundai Motor Co.
Yutong Bus Co., Ltd.
Higer Bus Company Limited
Liaoning SG Automotive Group Co., Ltd.
Xiamen King Long International Trading Co., Ltd.
Anhui Ankai Automobile Co. Ltd.
Others
Table of Contents
140 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Latin America Electric Bus Market Overview
- 5.1 Key Industry Highlights
- 5.2 Latin America Electric Bus Historical Market (2018-2024)
- 5.3 Latin America Electric Bus Market Forecast (2025-2034)
- 5.4 Latin America Electric Bus Market Breakup by Country
- 5.4.1 Brazil
- 5.4.2 Mexico
- 5.4.3 Argentina
- 5.4.4 Others
- 6 Mexico Electric Bus Market Overview
- 6.1 Key Industry Highlights
- 6.2 Mexico Electric Bus Historical Market (2018-2024)
- 6.3 Mexico Electric Bus Market Forecast (2025-2034)
- 7 Mexico Electric Bus Market by Propulsion
- 7.1 Battery Electric Vehicle
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Plug-in Hybrid Electric Vehicle
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Fuel Cell Electric Vehicle
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 8 Mexico Electric Bus Market by Length
- 8.1 Less Than 9 Meters
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 9-14 Meters
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Above 14 Meters
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 9 Mexico Electric Bus Market by Power Output
- 9.1 Up to 250kW
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Above 250kW
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Mexico Electric Bus Market by Battery Capacity
- 10.1 Up to 400 kWh
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Above 400 kWh
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 11 Mexico Electric Bus Market by Application
- 11.1 Intercity
- 11.1.1 Historical Trend (2018-2024)
- 11.1.2 Forecast Trend (2025-2034)
- 11.2 Intracity
- 11.2.1 Historical Trend (2018-2024)
- 11.2.2 Forecast Trend (2025-2034)
- 12 Mexico Electric Bus Market by Ownership
- 12.1 Private
- 12.1.1 Historical Trend (2018-2024)
- 12.1.2 Forecast Trend (2025-2034)
- 12.2 Government
- 12.2.1 Historical Trend (2018-2024)
- 12.2.2 Forecast Trend (2025-2034)
- 13 Market Dynamics
- 13.1 SWOT Analysis
- 13.1.1 Strengths
- 13.1.2 Weaknesses
- 13.1.3 Opportunities
- 13.1.4 Threats
- 13.2 Porter’s Five Forces Analysis
- 13.2.1 Supplier’s Power
- 13.2.2 Buyer’s Power
- 13.2.3 Threat of New Entrants
- 13.2.4 Degree of Rivalry
- 13.2.5 Threat of Substitutes
- 13.3 Key Indicators for Demand
- 13.4 Key Indicators for Price
- 14 Competitive Landscape
- 14.1 Supplier Selection
- 14.2 Key Global Players
- 14.3 Key Regional Players
- 14.4 Key Player Strategies
- 14.5 Company Profiles
- 14.5.1 BYD Motors Inc.
- 14.5.1.1 Company Overview
- 14.5.1.2 Product Portfolio
- 14.5.1.3 Demographic Reach and Achievements
- 14.5.1.4 Certifications
- 14.5.2 Mercedes-Benz Group AG
- 14.5.2.1 Company Overview
- 14.5.2.2 Product Portfolio
- 14.5.2.3 Demographic Reach and Achievements
- 14.5.2.4 Certifications
- 14.5.3 AB Volvo
- 14.5.3.1 Company Overview
- 14.5.3.2 Product Portfolio
- 14.5.3.3 Demographic Reach and Achievements
- 14.5.3.4 Certifications
- 14.5.4 Hyundai Motor Co.
- 14.5.4.1 Company Overview
- 14.5.4.2 Product Portfolio
- 14.5.4.3 Demographic Reach and Achievements
- 14.5.4.4 Certifications
- 14.5.5 Yutong Bus Co., Ltd.
- 14.5.5.1 Company Overview
- 14.5.5.2 Product Portfolio
- 14.5.5.3 Demographic Reach and Achievements
- 14.5.5.4 Certifications
- 14.5.6 Higer Bus Company Limited
- 14.5.6.1 Company Overview
- 14.5.6.2 Product Portfolio
- 14.5.6.3 Demographic Reach and Achievements
- 14.5.6.4 Certifications
- 14.5.7 Liaoning SG Automotive Group Co., Ltd.
- 14.5.7.1 Company Overview
- 14.5.7.2 Product Portfolio
- 14.5.7.3 Demographic Reach and Achievements
- 14.5.7.4 Certifications
- 14.5.8 Xiamen King Long International Trading Co., Ltd.
- 14.5.8.1 Company Overview
- 14.5.8.2 Product Portfolio
- 14.5.8.3 Demographic Reach and Achievements
- 14.5.8.4 Certifications
- 14.5.9 Anhui Ankai Automobile Co. Ltd.
- 14.5.9.1 Company Overview
- 14.5.9.2 Product Portfolio
- 14.5.9.3 Demographic Reach and Achievements
- 14.5.9.4 Certifications
- 14.5.10 Others
Pricing
Currency Rates
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