U.S. Electric School Bus Market: Current Analysis and Forecast (2021-2027)
Description
U.S. Electric School Bus Market: Current Analysis and Forecast (2021-2027)
The U.S. electric school bus market is estimated to grow at a CAGR of around 25% during 2021–2027. This is mainly due to the implementation of stringent policies, coupled with the rising environmental awareness, which is encouraging the deployment of low- and zero-emission transport systems in the country. Furthermore, major electric bus manufacturers in the market are continuously opting for strategic measures such as partnerships and collaboration with technology providers to improve their product offerings. For instance, in 2020, Nuvve and Blue Bird announced their collaboration to introduce V2G-compatible electric buses to the U.S. market and more intelligently integrate electric vehicles (EVs) into the grid using Nuvve’s V2G platform. All Blue Bird Type C and D electric buses are manufactured with Nuvve’s V2G integration which, when combined with a Nuvve V2G charging station, are able to store and discharge energy.
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.
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. are some of the key players in the market. Several strategic measures have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
"Amongst design, Type C category buses accounted for a significant share of the market in 2020”
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.
For instance, in 2018, Blue Bird Corporation unveiled its all-new Blue Bird Vision Electric Type C school bus at the NAPT conference in Columbus, Ohio. The electric powertrain is supplied by ADOMANI (ADOM), with drivetrain and vehicle control software developed and produced by their technology partner, Efficient Drivetrains Inc. (EDI). Blue Bird electric buses integrate the ADOMANI/EDI drivetrain and vehicle control software and telematics, delivering zero-emissions driving with outstanding vehicle performance and torque.
"Amongst type, BEBs category is expected to witness the fastest growth in the U.S. electric school bus market over the forecast period”
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 school 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. In addition, major OEMs in the market are continuously developing and launching new and improved versions of BEBs in the market. For instance, in January 2022, BYD introduced a Type A battery electric vehicle in the U.S., equipped with innovative vehicle-to-grid technology, allowing the vehicle to serve as a power storage resource when it’s not transporting students.
Similarly, in March 2022, GreenPower Motor announced the launch of the Nano Beast: a purpose-built, battery-electric, Type A school bus with a range of up to 150 miles per charge.
"California to witness significant growth during the forecast period”
The Californian electric bus market accounted for the largest revenue share, in 2020, in the U.S. California is a leader in electric school bus adoption and has established many programs that assist school districts in purchasing these buses. The CEC School Bus Replacement Program is a $94 million program that replaces old school buses with electric buses in public school districts and county offices of education. In addition, a huge population demands efficient transportation systems. The California Air Resources Board (CARB), a subsidiary of the California EPA, aids the implementation of state-wide clean air standards by funding innovative emissions reduction projects, such as CARBS’ Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). Furthermore, CARB’s HVIP operates similarly to NYTVIP, offering point-of-purchase rebate vouchers for eligible commercial vehicles, including electric school buses. CARB also manages the Rural School Bus Pilot Project that replaces older school buses in rural areas with clean vehicles, including electric school buses.
Reasons to buy this report:
The U.S. electric school bus market is estimated to grow at a CAGR of around 25% during 2021–2027. This is mainly due to the implementation of stringent policies, coupled with the rising environmental awareness, which is encouraging the deployment of low- and zero-emission transport systems in the country. Furthermore, major electric bus manufacturers in the market are continuously opting for strategic measures such as partnerships and collaboration with technology providers to improve their product offerings. For instance, in 2020, Nuvve and Blue Bird announced their collaboration to introduce V2G-compatible electric buses to the U.S. market and more intelligently integrate electric vehicles (EVs) into the grid using Nuvve’s V2G platform. All Blue Bird Type C and D electric buses are manufactured with Nuvve’s V2G integration which, when combined with a Nuvve V2G charging station, are able to store and discharge energy.
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.
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. are some of the key players in the market. Several strategic measures have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
"Amongst design, Type C category buses accounted for a significant share of the market in 2020”
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.
For instance, in 2018, Blue Bird Corporation unveiled its all-new Blue Bird Vision Electric Type C school bus at the NAPT conference in Columbus, Ohio. The electric powertrain is supplied by ADOMANI (ADOM), with drivetrain and vehicle control software developed and produced by their technology partner, Efficient Drivetrains Inc. (EDI). Blue Bird electric buses integrate the ADOMANI/EDI drivetrain and vehicle control software and telematics, delivering zero-emissions driving with outstanding vehicle performance and torque.
"Amongst type, BEBs category is expected to witness the fastest growth in the U.S. electric school bus market over the forecast period”
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 school 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. In addition, major OEMs in the market are continuously developing and launching new and improved versions of BEBs in the market. For instance, in January 2022, BYD introduced a Type A battery electric vehicle in the U.S., equipped with innovative vehicle-to-grid technology, allowing the vehicle to serve as a power storage resource when it’s not transporting students.
Similarly, in March 2022, GreenPower Motor announced the launch of the Nano Beast: a purpose-built, battery-electric, Type A school bus with a range of up to 150 miles per charge.
"California to witness significant growth during the forecast period”
The Californian electric bus market accounted for the largest revenue share, in 2020, in the U.S. California is a leader in electric school bus adoption and has established many programs that assist school districts in purchasing these buses. The CEC School Bus Replacement Program is a $94 million program that replaces old school buses with electric buses in public school districts and county offices of education. In addition, a huge population demands efficient transportation systems. The California Air Resources Board (CARB), a subsidiary of the California EPA, aids the implementation of state-wide clean air standards by funding innovative emissions reduction projects, such as CARBS’ Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). Furthermore, CARB’s HVIP operates similarly to NYTVIP, offering point-of-purchase rebate vouchers for eligible commercial vehicles, including electric school buses. CARB also manages the Rural School Bus Pilot Project that replaces older school buses in rural areas with clean vehicles, including electric school buses.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Table of Contents
212 Pages
- 1 MARKET INTRODUCTION
- 1.1. Market Definitions
- 1.2. Limitation
- 1.3. Stakeholders
- 1.4. Currency used in Report
- 2 RESEARCH METHODOLOGY OR ASSUMPTION
- 2.1. Research Process of the U.S. Electric School Bus Market
- 2.2. Research Methodology of the U.S. Electric School Bus Market
- 2.3. Forecasting Method
- 2.4. Respondent Profile
- 2.5. Main Objective of the U.S. Electric School Bus Market Study
- 3 MARKET SYNOPSIS
- 4 EXECUTIVE SUMMARY
- 5 IMPACT OF COVID-19 ON THE U.S. ELECTRIC SCHOOL BUS MARKET
- 6 U.S. ELECTRIC SCHOOL BUS MARKET REVENUE (USD BN), 2019-2027F
- 7 MARKET INSIGHTS BY DESIGN
- 7.1. Type A & B
- 7.2. Type C
- 7.3. Type D
- 8 MARKET INSIGHTS BY TYPE
- 8.1. Battery Electric Bus
- 8.2. Hybrid Electric Bus
- 9 MARKET INSIGHTS BY STATES
- 9.1. California
- 9.2. New York
- 9.3. Texas
- 9.4. Florida
- 9.5. Pennsylvania
- 9.6. Others
- 10 U.S. ELECTRIC SCHOOL BUS MARKET DYNAMICS
- 10.1. Market Drivers
- 10.2. Market Challenges
- 10.3. Impact Analysis
- 11 U.S. ELECTRIC SCHOOL BUS MARKET OPPORTUNITIES
- 12 U.S. ELECTRIC SCHOOL BUS MARKET TRENDS
- 13 DEMAND AND SUPPLY-SIDE ANALYSIS
- 13.1. Demand Side Analysis
- 13.2. Supply Side Analysis
- 14 COMPETITIVE SCENARIO
- 14.1. Competitive Landscape
- 14.1.1. Porter’s Five Forces Analysis
- 15 COMPANY PROFILED
- 15.1. Blue Bird Corporation
- 15.2. The Lion Electric Co.
- 15.3. BYD Motors Inc.
- 15.4. GreenPower Motor Company Inc.
- 15.5. Navistar International Corporation
- 15.6. Trans Tech Bus
- 15.7. Daimler AG
- 15.8. REV Group Inc.
- 15.9. Starcraft Bus
- 15.10. Micro Bird Inc
- 16 DISCLAIMER
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