How to Navigate Opportunities to Bridge Growth Gaps in the Global Bus Landscape?
Strong growth for zero-emission transit buses in Europe, North America, and India
Overview
The global bus industry is estimated to reach 2,34,000 units in 2024. The strong growth will be due to the bounce back in volumes in India and a healthy increase in Europe. Transit bus demand grew due to aging fleet replacement and government subsidies for alternate powertrains, while coach bus growth was driven by the thriving tourism industry and the return to normalcy after the COVID-19 pandemic.
On the electric bus (eBus) front, emission regulations, battery price drops, the emergence of low-emission zones, purchase subsidies, and tax exemptions will drive growth, while the growing adoption of electric transit buses has opened opportunities for the global sourcing and supply of alternate powertrain buses. The industry is fertile ground for strong collaboration among incumbent automakers, suppliers, and new participants trying to enter.
- How do emission regulations, battery price drops, the emergence of low-emission zones, purchase subsidies, and tax exemptions create new opportunities for business in the eBus landscape?
- What role does the PM-eBus Sewa scheme play in shaping the growth strategy for eBuses in India? How can you leverage government initiatives promoting green urban mobility to accelerate growth?
- What best practices should your team adopt to meet the demands of the zero-emission bus rapid-deployment accelerator (ZEBRA) program in Latin America?
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