Mexico Electric Bus Market Report and Forecast 2025-2034

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