India Electric Bus Market (2023-2029) | Value, Companies, Share, Analysis, Forecast, Outlook, Revenue, Trends, Size, Industry & Growth

India Electric Bus Market Highlights

Report Name	India Electric Bus Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate (CAGR)	7.63%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Types, By Applications
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
Pricing and Purchase Options	Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in the India Electric Bus Market

India Electric Bus Market report thoroughly covers the market by vehicle types, end users, charging infrastructure, and regions. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Some Ongoing Trends of the India Electric Bus Market

India Electric Bus Market is estimated to gain traction in the coming years underpinned by some ongoing latest market developments such rising expansion of electric bus fleets, especially in Delhi, Mumbai, and Bengaluru. Moreover, the rising replacement of diesel and CNG-based buses with electric buses to reduce GHG levels in the country is having a positive impact on the India Electric Bus Market growth. Domestic manufacturers such as Tata Motors, Ashok Leyland, and Mahindra Electric are now actively investing in manufacturing electric buses in the influence to maintain increasing carbon rate. Also, the rising charging infrastructure development in the country at the bus stops ensures seamless operation of electric buses. This is estimated to create an opportunity for the electric bus market to grow seamlessly in the country.

India Electric Bus Market Synopsis

India Electric Bus Market is estimated to register a sound growth in the country with the rising adoption of electric buses and replacement of diesel-based buses with electric ones. Additionally, the rise in the electric buses adoption in the country is boosting the development of charging infrastructure, leaving a positive impact on the market growth. The high carbon rate is a major concern for the country, hence electric buses have come up as the top solution in the transportation sector and are estimated to be one of the leading factors to fuel electric buses adoption. 

According to 6Wresearch, the India Electric Bus Market size is likely to grow at a CAGR of 7.63% during the forecast period 2023-2029. The market is securing tremendous growth on the back of rising infrastructure coupled with increasing numbers of charging stations to power electrical batteries overnight which is essential for electrical vehicles for uninterruptible mobility which tends to increase the deployment of electric buses and would spur the market in the coming years. Additionally, a rise in the elimination rate of diesel engines which are emitting harmful substances along with raising the concerns for cyclists and pedestrians coupled with increasing adoption of electric buses would proliferate the potential growth of India electric bus market. These are some growth proliferating factors simultaneously boosting the India Electric Bus Market share at a massive rate. 

Government Initiatives Introduced in the India Electric Bus Market

The government is encouraging the electric buses use in the country, hence has introduced many favourable policies & programmes including priority Lanes, where some cities have created bus lanes with the purpose of improving operations and efficiency, encouraging more people to use public transportation. Additionally, the government are investing in the development of vehicle charging infrastructure, especially in key areas like bus stops and public places to achieve seamless electric bus operations. Smart City mission is one of the leading missions boosting the electric buses use, which allows to decrease carbon footprints and make the country more sustainable.

COVID-19 Impact on the India Electric Bus Market

COVID-19 had a significant impact on the India Electric Bus Market which is a part of the Asia Pacific electric bus market. The lockdowns and restrictions in the country led to a decrease in public transportation demand, including buses. In addition to this, supply chain disruption resulted in a major delay in manufacturing, which further led to a reduction in the delivery of electric buses. 

Key Players of the India Electric Bus Market

Below mentioned are some leading key players in the country shaping the market growth with their continuous efforts. 

• Tata Motors
• Ashok Leyland
• Mahindra Electric
• BYD India
• Volvo Buses India
• JBM Auto

Market Analysis by Vehicle Type.

According to Nitesh Kumar, Research Manager, 6Wresearch it is difficult to say which is currently dominating in the country. Their growth is currently influenced by several aspects such as government policies, budget availability, and charging infrastructure development.

Market Analysis by Charging Infrastructure,

Based on Charging Infrastructure, these segments are growing in the market, driven by government incentives, funding availability, and the need for fast-charging solutions to ensure efficient operations. 

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Electric Bus Market Overview
• India Electric Bus Market Outlook
• India Electric Bus Market Trends
• India Electric Bus Market Forecast
• Historical Data of India Electric Bus Market Revenues and Volume for the Period 2019-2029
• India Electric Bus Market Size and India Electric Bus Market Forecast Revenues until 2029
• Historical Data of India Electric Bus Market Revenues and Volume, by Vehicle Types, for the Period 2019-2029
• Market Size & Forecast of India Electric Bus Market Revenues and Volume, by Vehicle Types, until 2029
• Historical Data of India Electric Bus Market Revenues, by End Users, for the Period 2019-2029
• Market Size & Forecast of India Electric Bus Market Revenues, by End Users, until 2029
• Historical Data of India Electric Bus Market Revenues and Volume, by Charging Infrastructure, for the Period 2019-2029
• Market Size & Forecast of India Electric Bus Market Revenues and Volume, by Charging Infrastructure, until 2029
• Historical Data of India Electric Bus Market Revenues and Volume, by Regions, for the Period 2019-2029
• Market Size & Forecast of India Electric Bus Market Revenues and Volume, by Regions, until 2029
• Market Drivers and Restraints
• Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• India Electric Bus Market Overview on Competitive Benchmarking
• Company Profiles
• India Electric Bus Market Share, by Companies
• India Electric Bus Market Share, by Regions
• Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Vehicle Types

• Plug-In Electric Bus
• Hybrid Electric Bus
• Battery Electric Bus

By End Users

• Public
• Private

By Charging Infrastructure

• Ground Contact
• Roof Pantograph
• Gantry Pantograph
• Plug Only
• Induction

By Regions

• Northern Region
• Western Region
• Eastern Region
• Southern Region
•  Central Region