Mexico Electric Bus Market (2024-2030) | Analysis, Size, Revenue, Trends, Growth, Forecast, Industry, Outlook, Value & Segmentation

Market Forecast By Vehicle Types (Battery Electric Bus (BEB), Plug-In Electric Bus (PHEB) & Hybrid Electric Bus (HEB)), By Charging Infrastructure (Ground Contact, Roof Pantograph, Gantry Pantograph, Plug Only & Induction), By End Users (Public & Private), By Regions (Northern Region, Southern Region, Central Region, Eastern Region and Western Region) and Competitive Landscape.

Product Code: ETC000898 Publication Date: Jul 2024 Updated Date: Jul 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Mexico Electric Bus Market Competition 2023

Mexico Electric Bus market currently, in 2023, has witnessed an HHI of 10000, Which has decreased substantially as compared to the HHI of 10000 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Mexico Electric Bus Market Competition 2023

Topics Covered in the Mexico Electric Bus Market Report

The Mexico Electric Bus Market report thoroughly covers the market by Vehicle Type, by Charging Infrastructure, by End User, and by Regions. The market 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.

Mexico Electric Bus Market Synopsis

The Mexico Electric Bus Market has experienced substantial growth in recent years, driven by the government's initiatives towards sustainable transportation solutions by promoting low or zero-emission vehicles. This program has led to an increase in subsidies and incentives for electric buses, making them a more financially viable option for both private companies and public transport agencies. Mexico is one of the largest and most populous countries in Latin America, with a rapidly growing urban population and increasing concerns about pollution and climate change. As a result, there is a strong demand for cleaner and more efficient public transportation options.

According to 6Wresearch, the Mexico Electric Bus Market size is expected to grow at a significant CAGR of 8.4% during the forecast period 2024-2030. This growth is fueled by multiple factors, including increasing awareness about the harmful effects of traditional fossil fuel-powered vehicles on the environment. The government of Mexico has also played a crucial role in encouraging the adoption of electric buses. As a result, there is an increasing demand for electric buses in the market, which led the companies to invest in and expand their electric bus operations in the country.

Additionally, The government provides tax benefits and subsidies for the purchase of electric vehicles, making them more affordable for companies and public transport operators. Furthermore, the country has a vast potential for renewable energy sources, which can be utilized to power electric buses, further reducing their environmental impact.

Despite, the positive market potential Mexico Electric Bus Market has been facing various challenges in adopting this trend, One of the major challenges is the high upfront cost of electric buses compared to conventional diesel or gasoline-powered buses. This makes it difficult for bus operators to switch to electric buses. Another challenge is the lack of charging infrastructure. This poses a major hindrance to overall adoption due to limited routes that can be operated by electric buses. Moreover, Mexico government has yet to implement subsidies or incentives to encourage the adoption of electric buses. The lack of skilled and trained bus operators leads to reluctance to switch and limited demand for electric buses. Overcoming these challenges is crucial to accelerate market growth.

Mexico Electric Bus Market Leading Players

The Mexico Electric Bus Market is dominated by several key players. One of the major players is BYD Company Ltd., a Chinese multinational company specializing in clean energy vehicles. Another leading player is Volvo Buses and DINA has also entered the Mexican electric bus market and are actively working towards providing efficient and eco-friendly transportation solutions. This has not only raised competition in the market but has also made a shift to technological advancements, ultimately benefiting the consumers.

Mexico Electric Bus Market Government Regulations

The Mexican government's initiatives towards promoting electric buses have also played an influential role in the growth of this market.  In 2019, President Andrés Manuel López Obrador announced plans to gradually substitute all diesel-powered public transport vehicles with electric alternatives by 2030. For this plan, the government proposed incentives such as tax breaks and subsidies for purchasing electric buses, coupled with installing charging infrastructure across the country. Also, the Mexican government has set a goal to have 20% of all public transportation buses be electric by 2030. This ambitious target demonstrates the country's commitment to reducing carbon emissions and promoting sustainable transportation options.

Future Insights of the Market

Looking ahead, the future of the Mexico Electric Bus Market appears promising, with firmly expanding its efforts to reduce carbon emissions and shift towards renewable energy sources. As part of this initiative, the Mexican government has announced plans to transition to electric buses in major cities nationwide. While the market is still relatively small compared to other countries such as China and the United States, with the growing demand for sustainable transportation options it is expected that the market will experience significant transition in the coming years. The market also requires sufficient investment in research and advancement in infrastructure and technology for market extension and profitability.

Market Segmentation by Vehicle Type

According to Dhaval, Research Manager, 6Wresearch, Battery Electric Buses (BEB) have acquired a major share in the Mexican Electric Bas Market. The rising concerns about air pollution have led to a significant increase in demand for BEBs, as they provide a cleaner alternative to traditional diesel or gasoline-powered buses. 

Market Segmentation by Charging Infrastructure

Among all other categories of charging infrastructure available, it is observed that ground contact technology holds the highest share in the Mexican electric bus market. These sockets are strategically placed along bus routes or at designated depots, allowing for quick and convenient recharging.  

Market Segmentation by End User

Presently, it appears that the majority of the share in the market is held by public end users. This can be attributed to several factors, such as government initiatives and eco-friendly transportation options, rising concerns over air pollution levels in urban areas, and funding opportunities for implementing electric buses into existing public transportation systems

Market Segmentation by Regions

While each region plays an essential role in the Market Electric Bus Market growth, the Central and Northern regions have seen the highest demand. However, with increasing awareness about sustainable transportation and government initiatives to encourage electric buses, a balanced distribution of demand across all regions shortly is expected. 

Key Attractiveness of the Report

  • 10 Years Market Numbers.
  • Historical Data Starting from 2020 to 2023.
  • Base Year 2023
  • Forecast Data until 2030.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Mexico Electric Bus Market Overview
  • Mexico Electric Bus Market Outlook
  • Mexico Electric Bus Market Forecast
  • Historical Data of Mexico Electric Bus Market Revenues & Volume for the Period 2020-2030
  • Mexico Electric Bus Market Size and Forecast of Revenues & Volume, Until 2030
  • Historical Data of Mexico Electric Bus Market Revenues & Volume, by vehicle types, for the Period 2020-2030
  • Market Size & Forecast of Mexico Electric Bus Market Revenues & Volume, by vehicle types, Until 2030
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By Charging Infrastructure, for the Period 2020-2030
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By Charging Infrastructure, Until 2030
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By End Users, for the Period 2020-2030
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By End Users, Until 2030
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By Regions, for the Period 2020-2030
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By Regions, Until 2030
  • Market Drivers and Restraints
  • Mexico Electric Bus Market Price Trends
  • Mexico Electric Bus Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • Mexico Electric Bus Market Share, By Regions
  • Mexico Electric Bus Market Share, By Players
  • Mexico Electric Bus Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments

By Vehicle Types

  • Battery Electric Bus (BEB)
  • Plug-In Electric Bus (PHEB)
  • Hybrid Electric Bus (HEB)

By Charging Infrastructure

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

By End User

  • Public
  • Private

By Regions

  • Northern Region
  • Southern Region
  • Eastern Region
  • Central Region
  • Western Region
Mexico Electric Bus Market (2024-2030); FAQs
Mexico Electric Bus Market size is expected to grow at a significant CAGR of 8.4% during the forecast period 2024-2030
The market growth is driven by several factors including, increasing awareness about the environment, rising demand for electric buses in the market, financial benefits, and subsidies for the purchase.
One of the major challenges is the high upfront cost of electric buses compared to conventional diesel or gasoline-powered buses
Some significant market players are BASF SE, Sika AG, and GCP Applied Technologies.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1. Executive Summary
2. Introduction
2.1 Report Description
2.2 Key Highlights of The Report
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3. Mexico Electric Bus  Market Overview
3.1 Mexico Country Indicators
3.2 Mexico Electric Bus Market Revenues & Volume 2020-2030F
3.3 Mexico Electric Bus Market Revenue Share, By Vehicle Types, 2020 & 2030F
3.4 Mexico Electric Bus Market Revenue Share, By Charging Infrastructure, 2020 & 2030F
3.5 Mexico Electric Bus Market Revenue Share, By End User, 2020 & 2030F
3.6 Mexico Electric Bus Market Revenue Share, By Regions, 2020 & 2030F
3.7 Mexico Electric Bus Market - Industry Life Cycle
3.8 Mexico Electric Bus Market - Porter’s Five Forces
4. Mexico Electric Bus  Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5. Mexico Electric Bus  Market Trends
6. Mexico Electric Bus Market Overview, By Vehicle Types
6.1 Mexico Electric Bus Market Revenues & Volume, by Hybrid 2020-2030F
6.2 Mexico Electric Bus Market Revenues & Volume, by Battery 2020-2030F
6.3 Mexico Electric Bus Market Revenues & Volume, by Plug-in Hybrid 2020-2030F
7. Mexico Electric Bus Market Overview, By Charging Infrastructure
7.1 Mexico Electric Bus Market Revenues, By Ground Contact, 2020-2030F
7.2 Mexico Electric Bus Market Revenues, By Roof Pantograph, 2020-2030F
7.3 Mexico Electric Bus Market Revenues, By Gantry Pantograph, 2020-2030F
7.4 Mexico Electric Bus Market Revenues, By Plug Only, 2020-2030F
7.5 Mexico Electric Bus Market Revenues, By Induction, 2020-2030F
8. Mexico Electric Bus Market Overview, By End User
8.1 Mexico Electric Bus Market Revenues & Volume, By Public, 2020-2030F
8.2 Mexico Electric Bus Market Revenues & Volume, By Private, 2020-2030F
9. Mexico Electric Bus Market Overview, By Regions
9.1 Mexico Electric Bus Market Revenues, By Northern Region, 2020-2030F
9.2 Mexico Electric Bus Market Revenues, By Southern Region, 2020-2030F
9.3 Mexico Electric Bus Market Revenues, By Central Region, 2020-2030F
9.4 Mexico Electric Bus Market Revenues, By Eastern Region, 2020-2030F
9.5 Mexico Electric Bus Market Revenues, By Western Region, 2020-2030F
10. Mexico Electric Bus Market - Key Performance Indicators
11. Mexico Electric Bus Market - Opportunity Assessment
11.1 Mexico Electric Bus Market Opportunity Assessment, By Vehicle Types 2030F
11.2 Mexico Electric Bus Market Opportunity Assessment, By Infrastructure 2030F
11.3 Mexico Electric Bus Market Opportunity Assessment, By End User, 2030F
12. Mexico Electric Bus Market Competitive Landscape
12.1 Mexico Electric Bus Market Revenue Share, By Company, 2023
12.2 Mexico Electric Bus Market Competitive Benchmarking, By Operating & Technical Parameters
13. Company Profiles
14. Key Recommendations
15. Disclaimer
 

Market Forecast By Vehicle Types (Battery Electric Bus (BEB), Plug-In Electric Bus (PHEB) & Hybrid Electric Bus (HEB)), By Charging Infrastructure (Ground Contact, Roof Pantograph, Gantry Pantograph, Plug Only & Induction), By End Users (Public & Private), By Regions (Northern Region, Southern Region, Central Region, Eastern Region and Western Region) and Competitive Landscape.

Product Code: ETC000898 Publication Date: Sep 2021 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Latest 2023 Developments of the Mexico Electric Bus Market Synopsis

Mexico Electric Bus Market developments include the shift of market players from diesel and petrol buses to electric buses to deal with rising environmental concerns. In January 2020, Mexico added 63 electric trolleybuses to its public transportation fleet under the Trolebici project, which aims to improve transport and commuting infrastructure in Mexico City. In January 2021, Volvo Buses starts testing the 7900 electric buses in Mexico City. The 12-meter-long bus has begun tests on Metrobus Line 4, the BRT transport system of the city.

Mexico Electric Bus Market Synopsis

Developing a transition from traditional fuel-based municipal buses to emission-free transportation would be a major factor driving the demand for Electric buses in the region. Increasing government investment in public transportation would further push the market growth over the coming years. However, the high cost of acquisition would restrain the growth of Mexico electric bus market.

According to 6Wresearch, the Mexico Electric Bus Market size is anticipated to register growth during 2019-2025. In the overall Mexico electric bus market share, Southern regions of Mexico including Mexico City and Guadalajara have accounted for a major share of market revenues in 2018 and are expected to lead throughout the forecast period as well. However, the North and Eastern regions of Mexico including Hermosillo and Monterrey are expected to witness high growth over the coming years on the back of the growing public transportation network in the region.

On the basis of charging infrastructure, the Mexico electric bus market can be broadly categorized into ground contact, roof pantograph, gantry pantograph, plug only and induction. Induction wireless charging of electric vehicles is expected to experience the highest growth over the coming years.

The Mexico Electric Bus market report thoroughly covers the market by vehicle types, charging infrastructure, end users, and regions. The Mexico Electric Bus market outlook report provides an unbiased and detailed analysis of the ongoing Mexico Electric Bus 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.

Key Highlights of the Report:

  • Mexico Electric Bus Market Overview
  • Mexico Electric Bus Market Outlook
  • Mexico Electric Bus Market Forecast
  • Historical Data of Mexico Electric Bus Market Revenues & Volume for the Period 2015-2018
  • Mexico Electric Bus Market Size and Forecast of Revenues & Volume, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues & Volume, by vehicle types, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues & Volume, by vehicle types, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By Charging Infrastructure, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By Charging Infrastructure, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By End Users, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By End Users, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By Regions, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By Regions, Until 2025
  • Market Drivers and Restraints
  • Mexico Electric Bus Market Price Trends
  • Mexico Electric Bus Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • Mexico Electric Bus Market Share, By Regions
  • Mexico Electric Bus Market Share, By Players
  • Mexico Electric Bus Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The Mexico Electric Bus Market report provides a detailed analysis of the following market segments:

By Vehicle Types:

  • Battery Electric Bus (BEB)
  • Plug-In Electric Bus (PHEB)
  • Hybrid Electric Bus (HEB)

By Charging Infrastructure:

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

By End Users:

  • Public
  • Private

By Regions:

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

Market Forecast By Vehicle Types (Battery Electric Bus (BEB), Plug-In Electric Bus (PHEB) & Hybrid Electric Bus (HEB)), By Charging Infrastructure (Ground Contact, Roof Pantograph, Gantry Pantograph, Plug Only & Induction), By End Users (Public & Private), By Regions (Northern Region, Southern Region, Central Region, Eastern Region and Western Region) and Competitive Landscape.

Product Code: ETC000898 Publication Date: Sep 2021 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Latest 2023 Developments of the Mexico Electric Bus Market Synopsis

Mexico Electric Bus Market developments include the shift of market players from diesel and petrol buses to electric buses to deal with rising environmental concerns. In January 2020, Mexico added 63 electric trolleybuses to its public transportation fleet under the Trolebici project, which aims to improve transport and commuting infrastructure in Mexico City. In January 2021, Volvo Buses starts testing the 7900 electric buses in Mexico City. The 12-meter-long bus has begun tests on Metrobus Line 4, the BRT transport system of the city.

Mexico Electric Bus Market Synopsis

Developing a transition from traditional fuel-based municipal buses to emission-free transportation would be a major factor driving the demand for Electric buses in the region. Increasing government investment in public transportation would further push the market growth over the coming years. However, the high cost of acquisition would restrain the growth of Mexico electric bus market.

According to 6Wresearch, the Mexico Electric Bus Market size is anticipated to register growth during 2019-2025. In the overall Mexico electric bus market share, Southern regions of Mexico including Mexico City and Guadalajara have accounted for a major share of market revenues in 2018 and are expected to lead throughout the forecast period as well. However, the North and Eastern regions of Mexico including Hermosillo and Monterrey are expected to witness high growth over the coming years on the back of the growing public transportation network in the region.

On the basis of charging infrastructure, the Mexico electric bus market can be broadly categorized into ground contact, roof pantograph, gantry pantograph, plug only and induction. Induction wireless charging of electric vehicles is expected to experience the highest growth over the coming years.

The Mexico Electric Bus market report thoroughly covers the market by vehicle types, charging infrastructure, end users, and regions. The Mexico Electric Bus market outlook report provides an unbiased and detailed analysis of the ongoing Mexico Electric Bus 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.

Key Highlights of the Report:

  • Mexico Electric Bus Market Overview
  • Mexico Electric Bus Market Outlook
  • Mexico Electric Bus Market Forecast
  • Historical Data of Mexico Electric Bus Market Revenues & Volume for the Period 2015-2018
  • Mexico Electric Bus Market Size and Forecast of Revenues & Volume, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues & Volume, by vehicle types, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues & Volume, by vehicle types, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By Charging Infrastructure, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By Charging Infrastructure, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By End Users, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By End Users, Until 2025
  • Historical Data of Mexico Electric Bus Market Revenues and Volume, By Regions, for the Period 2015-2018
  • Market Size & Forecast of Mexico Electric Bus Market Revenues and Volume, By Regions, Until 2025
  • Market Drivers and Restraints
  • Mexico Electric Bus Market Price Trends
  • Mexico Electric Bus Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • Mexico Electric Bus Market Share, By Regions
  • Mexico Electric Bus Market Share, By Players
  • Mexico Electric Bus Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The Mexico Electric Bus Market report provides a detailed analysis of the following market segments:

By Vehicle Types:

  • Battery Electric Bus (BEB)
  • Plug-In Electric Bus (PHEB)
  • Hybrid Electric Bus (HEB)

By Charging Infrastructure:

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

By End Users:

  • Public
  • Private

By Regions:

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

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