Skip navigation
Reports & Analysis Strategic Insights Research Subscriptions
Sign In / Create Account Cart
Sign In / Create Account Cart
  • Reports & Analysis
  • Strategic Insights
  • Research Subscriptions

Resources

  • Analyst Buzz
  • Press Releases
  • Blog
  • Resources & Downloads

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Freedonia Market Research Press Releases Electric and Hybrid Bus Sales to Increase 8.8% Annually Through 2023

Electric and Hybrid Bus Sales to Increase 8.8% Annually Through 2023

by Corinne Gangloff

August 2, 2019

Global electric and hybrid bus demand is forecast to increase 8.8% per annum to 114,200 units in 2023, registering faster growth than all other bus types. The popularity of electric and hybrid models will continue to grow due to their:

  • limited impact on the environment
  • greater fuel efficiency than conventional buses
  • lower fuel and maintenance costs
  • ability to operate more quietly than combustion engine-driven models

 

Electric and hybrid buses will also become more competitive relative to other bus types as producers develop new models that have a greater range and offer superior performance. Additionally, increasing electric and hybrid bus manufacturing capabilities in China, India, and other developing nations will restrain product price increases going forward. These and other trends are presented in Global Buses, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/global-buses-3733.htm

For all types of buses combined, demand is forecast to be more conservative at 4.7% annually to 606,500 units in 2023, bringing the number of buses in use to 9.6 million units. Numerous trends are expected to contribute to gains, including:

  • advances in government spending on public transportation as part of efforts to expand transit services, reduce traffic congestion, and improve air quality
  • continued expansion of global tourism and private transportation
  • a shift from the use of conventional (diesel and gasoline) fuel to CNG/LNG, electric, and hybrid models in urban transit systems, which will prompt the early upgrade of bus fleets to achieve fuel cost savings

 

Global Buses (published 06/2019, 414 pages) is available for $6300 from The Freedonia Group. Please contact Corinne Gangloff at +1.440.684.9600 or [email protected] for an interview with the analyst Gleb Mytko.

Have unique research needs?

Freedonia Strategic Insights listens intently to your needs and objectives. Then we work diligently to define and deliver a service to meet them.
Learn About Our Custom Research Services

Subscribe to Our Blog

Stay up to date with the latest information about new market research and news in areas relevant to your business from our analysts and team members.

Freedonia Focus Blog Subscription

Provide the following details to subscribe.

The Freedonia Group needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.
  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press Contact
  • User Agreement
  • Privacy Policy
  • Site Map

Additional Resources

  • Market Size Resources
  • Lawn & Garden Market Research
  • Roofing Market Research
  • Pet Products Market Research
  • Countertops Market Research
  • Power Tools Market Research
  • Publishing for the PreK-12 Market Research
  • Insulation Market Resaerch
  • Cabinets Market Research
  • Flooring Market Research
  • Pet Supplements Market Research
  • Agricultural Equipment Market Research
  • Open Access Publishing Market Research
  • Silicones Market Research
  • For Legal Inquiries, contact Cohen & Cohen
Copyright © 2025 The Freedonia Group, Inc. All rights reserved.