Top 6 Companies Leading the Global Electric Bus Market

BYD Motors Inc., Solaris Bus & Coach sp. z o.o., Volvo Group, Yutong Bus Co., Ltd., VDL Bus & Coach BV, and Hyundai Motor Company are leading players in the global electric bus market. Other significant companies include Edison Motors Co., Ltd., Zhongtong Bus Holding Co., Ltd., IVECO S.p.A., EvoBus GmbH (Daimler Truck), and others.

The global electric bus market would likely grow at a CAGR of 13.6% during 2023-2028. The demand for electric buses is rising due to the fact that cities, private transit companies and schools are seeking alternatives to conventional buses; electric buses are considered more environmentally-friendly and economical. Many major countries across the world are looking to transform their bus fleets into electric. Asia, North America and Europe are likely to be key markets.

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Top 6 Companies Leading the Global Electric Bus Market

BYD Motors Inc.

BYD Motors Inc. is a leading high-tech Chinese enterprise that specializes in IT, new energy, and automobile. The company is a key supplier of rechargeable batteries, and holds the largest market share for handset Li-ion batteries, Nickel-cadmium batteries, cell-phone chargers and keypads across the world. BYD Auto is a key player in the domain of EVs with distinct technologies. In the domain of new energy, the company has developed green products including electric vehicle, battery energy storage station, solar farm, LED, etc. Specialties include Automobile, IT components, LED Lighting, Energy Storage, Solar Power, and Electric Vehicles.

Solaris Bus & Coach sp. z o.o.

Solaris Bus & Coach sp. z o.o. is a key European bus and trolleybus manufacturer. Solaris influences the quality of city transport in several cities across Europe. The firm focuses on the electromobility sector, and electric buses, trolleybuses and hydrogen buses produced by the company are advanced solutions for zero emission public transport. Solaris products have been repeatedly awarded for innovation and quality.  

Volvo Group

Volvo Group is a renowned international manufacturer of construction equipment, buses, trucks, and marine and industrial engines. The Group also offers solutions related to financing and service. It employs almost a hundred thousand people, has production facilities in eighteen nations, and sells its products in over 190 markets. Specialties include Construction Equipment, Trucks, Industrial & Marine Engines, Buses, Innovation, Financial Services, Automation, Electromobility, Connectivity, Transportation, and Automotive.

Yutong Bus Co. Ltd.

Yutong Bus Co. Ltd. is a key branch of the Yutong Group and large-scale modern manufacturing company that specializes in the R&D, production and sales of bus products. Specialties include high-end commercial vehicles, AI, school bus, new energy bus, recreational vehicle, airfield bus, autonomous driving, auto parts, intelligent transportation, internet of vehicle, automobile electronic, battery, vehicle electronic, software, EIC system, auto seat, passenger vehicles, auto sales, commercial vehicle, chassis, vehicle engineering, Intelligent manufacturing, cloud computing, smart city, and big data.

VDL Bus & Coach BV

VDL Bus & Coach BV is engaged in the development, production, sales and after-sales service of a variety of buses, coaches and chassis modules and the buying and sales of second-hand buses. Through practical innovations, the company seeks to contribute to a cleaner environment, decreased energy consumption, and a healthier and quieter living environment. 

Hyundai Motor Company

Hyundai Motor Company is a renowned international automobile producer and exporter of its branded vehicles to more than two hundred countries. Hyundai Motor has acquired sophisticated environmentally-friendly technologies to enable the shift to electrified vehicles.