China Electric Bus Market Size
Study Period | 2017 - 2029 | |
Market Size (2025) | USD 42.64 Billion | |
Market Size (2029) | USD 51.14 Billion | |
Largest Share by Vehicle Body Type | Buses | |
CAGR (2025 - 2029) | 4.65 % | |
Fastest Growing by Vehicle Body Type | Buses | |
Market Concentration | Medium |
China Electric Bus Market Analysis
The China Electric Bus Market size is estimated at 42.64 billion USD in 2025, and is expected to reach 51.14 billion USD by 2029, growing at a CAGR of 4.65% during the forecast period (2025-2029).
42.64 Billion
Market Size in 2025 (USD)
51.14 Billion
Market Size in 2029 (USD)
14.26 %
CAGR (2017-2024)
4.65 %
CAGR (2025-2029)
Largest Segment by Fuel Category
95.27 %
value share, BEV, 2024
BEVs dominate China's electric bus market due to government subsidies, extensive urban demand, and a focus on reducing air pollution through sustainable public transport.
Fastest-growing Segment by Fuel Category
22.37 %
Projected CAGR, FCEV, 2025-2029
FCEVs are growing rapidly in China due to advancements in hydrogen technology, expanding refueling infrastructure, and strong governmental support for clean energy vehicles.
Leading Market Player
26.60 %
market share, Zhejiang Geely Holding Group Co. Ltd,
Zhejiang Geely Holding Group Co. Ltd. leads the market with its innovative electric bus models, extensive manufacturing capacity, and strong government support for sustainable transportation solutions.
Second leading Market Player
13.50 %
market share, Chery Automobile Co. Ltd.,
Chery Automobile Co. Ltd. is a significant player due to its popular electric bus models, strong R&D capabilities, and commitment to expanding its electric vehicle offerings in the public transport sector.
Third Leading Market Player
11 %
market share, Chongqing Changan Automobile Company Limited,
Chongqing Changan Automobile Company Limited ranks high in the market due to its diverse electric bus lineup, robust manufacturing infrastructure, and strategic collaborations enhancing its market position.
China Electric Bus Industry Overview
China Electric Bus Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Population
- 4.2 GDP Per Capita
- 4.3 Consumer Spending For Vehicle Purchase (cvp)
- 4.4 Inflation
- 4.5 Interest Rate For Auto Loans
- 4.6 Shared Rides
- 4.7 Impact Of Electrification
- 4.8 EV Charging Station
- 4.9 Battery Pack Price
- 4.10 New Xev Models Announced
- 4.11 Fuel Price
- 4.12 Oem-wise Production Statistics
- 4.13 Regulatory Framework
- 4.14 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
-
5.1 Fuel Category
- 5.1.1 BEV
- 5.1.2 FCEV
- 5.1.3 HEV
- 5.1.4 PHEV
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
-
6.4 Company Profiles
- 6.4.1 Anhui Ankai Automobile Co. Ltd.
- 6.4.2 BYD Auto Co. Ltd.
- 6.4.3 Chery Automobile Co. Ltd.
- 6.4.4 Chongqing Changan Automobile Company Limited
- 6.4.5 CRRC Electric Vehicle Co. Ltd.
- 6.4.6 FAW Toyota Motor Co. Ltd.
- 6.4.7 Higer Bus Company Ltd.
- 6.4.8 King Long United Automotive Industry Co. Ltd.
- 6.4.9 Nanjing Golden Dragon Bus Co. Ltd.
- 6.4.10 Shanghai Sunwin Bus Corporation.Ltd.
- 6.4.11 Zhejiang Geely Holding Group Co. Ltd
- 6.4.12 Zhengzhou Yutong Bus Co. Ltd.
- 6.4.13 Zhongtong Bus Holding Co. Ltd.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
-
8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- POPULATION TRENDS, VOLUME IN UNITS, CHINA, 2017 - 2030
- Figure 2:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, CHINA, 2017 - 2030
- Figure 3:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, CHINA, 2017 - 2030
- Figure 4:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, CHINA, 2017 - 2030
- Figure 5:
- USED CAR MARKET, REVENUE IN USD, CHINA, 2017 - 2030
- Figure 6:
- ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, CHINA, 2017 - 2030
- Figure 7:
- CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, CHINA, 2017 - 2022
- Figure 8:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, CHINA, 2017 - 2030
- Figure 9:
- ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, CHINA, 2023 - 2027
- Figure 10:
- FUEL PRICE, BY FUEL TYPE, USD/LITER, CHINA, 2017 - 2022
- Figure 11:
- OEM-WISE PRODUCTION STATISTICS, VOLUME IN UNITS, CHINA, 2017 - 2022
- Figure 12:
- CHINA ELECTRIC BUS MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 13:
- CHINA ELECTRIC BUS MARKET, VALUE IN USD, 2017 - 2030
- Figure 14:
- CHINA ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 15:
- CHINA ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 16:
- CHINA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 17:
- CHINA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 18:
- CHINA ELECTRIC BUS MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 19:
- CHINA ELECTRIC BUS MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 20:
- CHINA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 21:
- CHINA ELECTRIC BUS MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 22:
- CHINA ELECTRIC BUS MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 23:
- CHINA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 24:
- CHINA ELECTRIC BUS MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 25:
- CHINA ELECTRIC BUS MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 26:
- CHINA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 27:
- CHINA ELECTRIC BUS MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 28:
- CHINA ELECTRIC BUS MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 29:
- CHINA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 30:
- CHINA ELECTRIC BUS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 31:
- CHINA ELECTRIC BUS MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 32:
- CHINA ELECTRIC BUS MARKET SHARE(%), BY MAJOR PLAYERS
China Electric Bus Industry Segmentation
BEV, FCEV, HEV, PHEV are covered as segments by Fuel Category.
Fuel Category | BEV |
FCEV | |
HEV | |
PHEV |
Market Definition
- Vehicle Type - The category includes Medium and Heavy Duty Buses.
- Vehicle Body Type - This include Bus category.
- Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
Keyword | Definition |
---|---|
Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.