Hydrogen Buses Market Outlook (2023 to 2033)

According to the research conducted by Future Market Insights, the hydrogen buses market is anticipated to rise at an astronomical CAGR of 31% during the forecast period. As per market estimates, the industry is likely to be worth US$ 12,558.5 Million by 2033, up from US$ 831 Million in 2023. Some of the prominent factors propelling the global hydrogen buses industry are:

  • Rising concerns pertaining to the surging level of air pollution which is propelling the demand for eco-friendly alternatives to public transport vehicles, such as hydrogen fuel cell buses.
  • Growing demand for environment-friendly, energy-efficient vehicles, which have zero emissions and offer a quick refuel system, is providing impetus to the market growth.
  • Increasing initiatives by government bodies to promote vehicles that lower oil dependency, and offer heightened safety, are propelling the demand for hydrogen buses.
  • Accelerating the adoption of green hydrogen to deeply decarbonize difficult-to-abate gases emitted from multiple industries, including the heavy transportation industry, is also increasing the operation of hydrogen buses.
  • Growing intrigue and demand for smooth traveling experience provided by hydrogen fuel cell buses. These buses have extra comfort systems for drivers and passengers.
Attribute Details
Hydrogen Buses Industry Size (2023) US$ 831 Million
Hydrogen Buses Industry Forecast Value (2033) US$ 12,558.5 Million
Hydrogen Buses Industry CAGR 31%

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Development of Hydrogen Charging Infrastructure Presenting Profitable Growth Prospects for the Market Operators

Continuous development and supply of hydrogen buses via collaboration with local and central governments are expected to create opportunities for the players operating in the hydrogen buses market. Many players are planning on extending their hydrogen-powered vehicles portfolio to go beyond hydrogen-powered buses. For example, Hyundai Motor Group aims to use hydrogen fuel cells in large vessels, Urban Air Mobility (UAM), and railways. Several players in the market are also actively participating in the development of hydrogen charging infrastructures to widen the market for hydrogen fuel cell vehicles.

Glimpses of the Historical Market Scenario and Current Growth Indicators

The global hydrogen buses market grew from US$ 311.8 Million to US$ 641.1 Million between 2018 and 2022. The market witnessed healthy growth in recent years on account of an increase in the price of diesel and petrol. This gave rise to the demand for alternative, fuel-efficient automobiles, such as hydrogen fuel cell buses. Further, the increasing interest in sustainable vehicles that release zero emissions and help curb the density of pollution in the air, especially in emerging economies, is creating lucrative opportunities for the key players.

Going forward, the market for hydrogen buses is estimated to attain US$ 831 Million in 2023. Further, the market is assessed to grow at a meteoric CAGR of 31% between 2023 and 2033, to exceed US$ 12,558.5 Million by 2033 end.

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Nikhil Kaitwade

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Country-wise Insights

Latest EV innovations in Germany to Substantiate its Leading Position

Europe is projected to attain a dominant share of the hydrogen buses market over the forecast period. One of the significant growth-inducing factors in the market is the high count of major hydrogen-powered bus manufacturers. Additionally, the heightened awareness regarding the availability of the latest EV technologies and the increasing adoption of passenger hydrogen vehicles in the European region is propelling the market expansion of hydrogen buses.

Germany is forecast to demonstrate its significance in the sphere of hydrogen buses over the anticipated period and emerge as a major market worldwide. Recently, Ebusco supplied its first 90 Ebusco buses to the biggest public transport company in Germany. Competitors in the market are expected to follow suit so that companies can provide climate-neutral services across longer distances.

North America Emphasizing Sustainable Transportation

Surging agreements between companies pertaining to the supply of hydrogen-stored cylinders for hydrogen buses are favorably impacting the USA hydrogen buses market. For instance, New Flyer Canada ULC, North America’s biggest mass mobility solutions provider, and New Flyer of America Inc., partnered with Hexagon Purus for the second consecutive year to supply hydrogen storage cylinders for zero-emission, hydrogen fuel cell e-transit buses, which comes under the category of Xcelsior Charge H2 of New Flyer, in 2022. The high-pressure hydrogen stored cylinders will enable a driving range of over 350 miles/ 560 km in one refueling session.

New Flyer has been playing an active role in making transportation in North America emission-free by encouraging the growth of sustainable buses and their infrastructure across Canada and the USA In a mere one year, i.e., 2021, Hexagon Purus provided hydrogen systems/ cylinders for approximately 30 fuel cell buses of New Flyer. The collaboration of New Flyer and Hexagon Purus has been propelling the growth of hydrogen buses in North America.

Asia Pacific to Witness Fastest Growth

The Asia Pacific region is anticipated to witness the fastest growth over the forthcoming years. The robust growth in the region can be credited to rapid population growth, rising demand for passenger buses, and swiftly expanding production scale, which are all propelling market expansion for hydrogen buses in the region.

India Hydrogen Buses Market Outlook

Increasing government initiatives to realize the ‘Hydrogen Vision’ of the country to develop a self-reliant India by meeting weather change goals, creating employment in the respective sector, and promoting the adoption of clean energy, are collectively driving the hydrogen buses market in India. In August 2022, India’s first-ever indigenously produced Hydrogen fuel cell bus, backed by the Union Minister of State for Science and Technology, was revealed in Pune. The rising demand for eco-friendly modes of transportation is projected to facilitate the Indian hydrogen buses market in the coming years.

Hydrogen Buses Market in China

As per the estimates released by the China Association of Automobile Manufacturers (CAAM), China manufactured 1,742 units of hydrogen fuel cell automotive in 2021, an increase of 48.2% y-o-y. In the same year, 1,586 units of these vehicles were sold, representing an increase of 34.7% y-o-y. The growing demand for hydrogen fuel cell buses due to their high reliability, ability to be quickly refueled with hydrogen, and continuous and consistent driving capacity over long distances is resulting in a positive market outlook for hydrogen buses in China.

Japan Hydrogen Buses Industry

The hydrogen buses market in Japan is being stimulated by the favorable actions taken by the government to tackle global warming. For instance, Tokyo Metropolitan Government is promoting the use of hydrogen as a renewable energy source to charge vehicles, thus accomplishing the process of decarbonizing society. Tokyo, in partnership with the Fukushima region, intends to outfit 300+ buses with hydrogen fuel cells by 2030 end, thus making hydrogen-powered buses a norm in Tokyo.

South Korea Hydrogen Buses Market Outlook

With state funding of over 300 million won, South Korea’s Ministry of Environment has entered into a cooperation agreement with Hyundai Motor, Busan City, South Gyeongsang Province, and Ulsan City to adopt hydrogen buses. Additionally, in an initiative to achieve net zero CO2 emissions by 2050, Seoul, South Korea’s capital, is increasing the adoption of hydrogen and e-buses.

The capital is dedicated to operating over 1,000 hydrogen-powered buses and constructing 11 hydrogen charging stations by 2025 end. The aforementioned developments in South Korea are expected to propel market expansion over the forecast period.

Category-wise Insights

Proton Exchange Membrane Fuel Cell to Observe Rapid Demand

The proton exchange membrane fuel cell technology is projected to witness tremendous growth over the forecast period. The swift growth of this segment can be attributed to its ability to convert chemical energy into electrical energy. This technology is suitable for fuel cell automotive and is the most requested fuel cell in the EV industry.

<150 kW Power Output to Dominate the Hydrogen Buses Landscape

Based on power output, the <150 kW segment is forecast to grow at a rapid pace over the coming years. Fuel cells with a power output of less than 150 kW are highly requested in passenger vehicles, industrial cars, and buses. Thus, the increasing number of these automotive is rapidly propelling the sales rate of <150 kW fuel cells, consequently dominating the global market share.

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Top Start-ups to Keep an Eye on

Start-up Company Hydrolux
Country Canada
Description Hydrolux offers hydrogen-powered buses, trucks, cars, and forklifts. The startup’s vehicles combine the low weight of vehicles running on diesel with the advantages of EVs.
Start-up Company NanoSUN
Country Britain
Description The startup delivers solutions for hydrogen refueling. The FillSafe Fuelling Hoses developed by NanoSUN provide high-pressure refueling of EVs powered by hydrogen. These solutions are cost-effective, easy to use and install and prevent over-pressurization.
Start-up Company Hymotiv
Country India
Description Hymotiv produces a hydrogen fuel cell EV. The technology utilized by the company includes hydrogen-propelled automobile propulsion systems, which can be retrofitted into fossil fuel-based vehicles. These systems enable clean and green energy solutions for heavy-duty vehicles, and passenger cars, as well as energy storage.
Start-up Company KEYOU
Country Germany
Description KEYOU manufactures new engines for brand-new commercial vehicles. For this, the startup procures a base engine from OEM and reengineers it to make it run on hydrogen.

Product Innovation is to Start-ups what Partnership with Governments is to Established Players

With numerous players competing to bag a large share, the market is likely to remain fragmented over the forecast period. Since hydrogen buses have witnessed a rapid evolution in recent times, there is a high scope for innovation. With the assistance of advanced technologies, market players further get an edge to project their products in the best light. As a result, product innovation is the default move of new players to compete with established players.

While the automotive sector stays guarded heavily with government compliance on reducing CO2 emissions, market players formulate strategies to work towards clean mobility. This trend is highly dominant among players operating in developed countries, especially European ones. All-in-all, new players ride on the waves of technology to strengthen their market hold and catapult towards advancement, while the established players seek to extend their services with the government and bring their products into the market on a large scale.

Recent developments that are shaping up the hydrogen buses market include:

  • In September 2022, Solaris revealed its Urbino 18 hydrogen bus. This articulated model is second in line in Solaris’s zero-emission portfolio. With this launch, the company aims to provide its clients with zero-emission vehicles.
  • In July 2022, Iveco announced its intention to produce 3,000+ zero and low-emission buses over the coming years.
  • In June 2021, one of the largest commercial vehicle companies and major bus manufacturers in India, Tata Motors, revealed that it has received a tender from Indian Oil Corporation Limited (IOCL) to deliver 15 hydrogen-powered Proton Exchange Membrane (PEM) fuel cell buses.
  • In June 2021, Hyundai Motor announced that it has begun the testing of hydrogen fuel cell buses in the European region, which will help develop the vehicles further, to meet the requirements of European customers.

Some of the key companies proliferating in the market are

  • Tata Motors Limited
  • Thor Industries
  • Hyundai
  • Ballard Power Systems
  • NovaBus Corporation
  • New Flyer Industries Ltd
  • EvoBus
  • New Flyer
  • Hino Motors Ltd.
  • SunLine Transit Agency

Hydrogen Buses Industry report scope

Attribute Details
Forecast period 2023 to 2033
Historical data available for 2018 to 2022
Industry analysis US$ Million in value
Key regions covered
  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa
Key countries covered
  • USA
  • Germany
  • France
  • Italy
  • Canada
  • The United Kingdom
  • Spain
  • China
  • India
  • Australia
Key segments covered
  • By Technology
  • By Power Output
  • By Transit Bus Models
  • Region
Key companies profiled
  • Tata Motors Limited
  • Thor Industries
  • Hyundai
  • Ballard Power Systems
  • NovaBus Corporation
  • New Flyer Industries Ltd
  • EvoBus
  • New Flyer
  • Hino Motors Ltd.
  • SunLine Transit Agency
Report Coverage
  • Industry Forecast
  • Company Share Analysis
  • Industry Dynamics
  • Challenges
  • Competitive Landscape
  • Drivers, Restraints, Opportunities, and Threats Analysis
  • Strategic Growth Initiatives
Customization and Pricing
  • Available upon request

Hydrogen Buses Industry Segmentation by Category

By Technology:

  • Proton Exchange Membrane Fuel Cells
  • Direct Methanol Fuel Cells
  • Phosphoric Acid Fuel Cells
  • Zinc-Air Fuel Cells
  • Solid Oxide Fuel Cells

By Power Output:

  • <150 kW
  • 150–250 kW
  • >250 kW

By Transit Bus Models:

  • 30-Foot Transit Buses
  • 40-Foot Transit Buses
  • 60-Foot Transit Buses

By Region:

  • North America
  • Latin America
  • East Asia
  • Eastern Europe
  • Western Europe
  • South Asia & Pacific
  • Middle East & Africa

Frequently Asked Questions

How Big is the Hydrogen Buses Industry?

The hydrogen buses industry size is assessed to be US$ 831 Million in 2023.

At What Rate is the Hydrogen Buses Industry Expected to Rise?

The hydrogen buses industry is expected to rapidly rise at a CAGR of 31% during the forecast period.

What is the Demand Outlook Forecast for the Hydrogen Buses Industry?

The global hydrogen buses industry is forecast to surpass US$ 12,558.5 Million by 2033.

Which Region is a Major Contributor to Market Growth?

Europe is the major contributor to the market growth of hydrogen buses.

Table of Content
1. Executive Summary | Hydrogen Buses Market
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Product Life Cycle Analysis
    3.5. Supply Chain Analysis
        3.5.1. Supply Side Participants and their Roles
            3.5.1.1. Producers
            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
            3.5.1.3. Wholesalers and Distributors
        3.5.2. Value Added and Value Created at Node in the Supply Chain
        3.5.3. List of Raw Material Suppliers
        3.5.4. List of Existing and Potential Buyers
    3.6. Investment Feasibility Matrix
    3.7. Value Chain Analysis
        3.7.1. Profit Margin Analysis
        3.7.2. Wholesalers and Distributors
        3.7.3. Retailers
    3.8. PESTLE and Porter’s Analysis
    3.9. Regulatory Landscape
        3.9.1. By Key Regions
        3.9.2. By Key Countries
    3.10. Regional Parent Market Outlook
    3.11. Production and Consumption Statistics
    3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2018 to 2022
    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2023 to 2033
        5.3.1. Proton Exchange Membrane Fuel Cells
        5.3.2. Direct Methanol Fuel Cells
        5.3.3. Phosphoric Acid Fuel Cells
        5.3.4. Zinc-Air Fuel Cells
        5.3.5. Solid Oxide Fuel Cells
    5.4. Y-o-Y Growth Trend Analysis By Technology, 2018 to 2022
    5.5. Absolute $ Opportunity Analysis By Technology, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Power Output
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Power Output, 2018 to 2022
    6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Power Output, 2023 to 2033
        6.3.1. <150 KW
        6.3.2. 150–250 KW
        6.3.3. >250 KW
    6.4. Y-o-Y Growth Trend Analysis By Power Output, 2018 to 2022
    6.5. Absolute $ Opportunity Analysis By Power Output, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Transit Bus Models 
    7.1. Introduction / Key Findings
    7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Transit Bus Models, 2018 to 2022
    7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Transit Bus Models, 2023 to 2033
        7.3.1. 30-Foot Transit Buses
        7.3.2. 40-Foot Transit Buses
        7.3.3. 60-Foot Transit Buses
    7.4. Y-o-Y Growth Trend Analysis By Transit Bus Models, 2018 to 2022
    7.5. Absolute $ Opportunity Analysis By Transit Bus Models, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    8.1. Introduction
    8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
    8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
        8.3.1. North America
        8.3.2. Latin America
        8.3.3. Europe
        8.3.4. Asia Pacific
        8.3.5. Middle East and Africa(MEA)
    8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        9.2.1. By Country
            9.2.1.1. USA
            9.2.1.2. Canada
        9.2.2. By Technology
        9.2.3. By Power Output
        9.2.4. By Transit Bus Models
    9.3. Market Attractiveness Analysis
        9.3.1. By Country
        9.3.2. By Technology
        9.3.3. By Power Output
        9.3.4. By Transit Bus Models
    9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        10.2.1. By Country
            10.2.1.1. Brazil
            10.2.1.2. Mexico
            10.2.1.3. Rest of Latin America
        10.2.2. By Technology
        10.2.3. By Power Output
        10.2.4. By Transit Bus Models
    10.3. Market Attractiveness Analysis
        10.3.1. By Country
        10.3.2. By Technology
        10.3.3. By Power Output
        10.3.4. By Transit Bus Models
    10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        11.2.1. By Country
            11.2.1.1. Germany
            11.2.1.2. United Kingdom
            11.2.1.3. France
            11.2.1.4. Spain
            11.2.1.5. Italy
            11.2.1.6. Rest of Europe
        11.2.2. By Technology
        11.2.3. By Power Output
        11.2.4. By Transit Bus Models
    11.3. Market Attractiveness Analysis
        11.3.1. By Country
        11.3.2. By Technology
        11.3.3. By Power Output
        11.3.4. By Transit Bus Models
    11.4. Key Takeaways
12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        12.2.1. By Country
            12.2.1.1. China
            12.2.1.2. Japan
            12.2.1.3. South Korea
            12.2.1.4. Singapore
            12.2.1.5. Thailand
            12.2.1.6. Indonesia
            12.2.1.7. Australia
            12.2.1.8. New Zealand
            12.2.1.9. Rest of Asia Pacific
        12.2.2. By Technology
        12.2.3. By Power Output
        12.2.4. By Transit Bus Models
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Technology
        12.3.3. By Power Output
        12.3.4. By Transit Bus Models
    12.4. Key Takeaways
13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        13.2.1. By Country
            13.2.1.1. GCC Countries
            13.2.1.2. South Africa
            13.2.1.3. Israel
            13.2.1.4. Rest of Middle East and Africa(MEA)
        13.2.2. By Technology
        13.2.3. By Power Output
        13.2.4. By Transit Bus Models
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Technology
        13.3.3. By Power Output
        13.3.4. By Transit Bus Models
    13.4. Key Takeaways
14. Key Countries Market Analysis
    14.1. USA
        14.1.1. Pricing Analysis
        14.1.2. Market Share Analysis, 2022
            14.1.2.1. By Technology
            14.1.2.2. By Power Output
            14.1.2.3. By Transit Bus Models
    14.2. Canada
        14.2.1. Pricing Analysis
        14.2.2. Market Share Analysis, 2022
            14.2.2.1. By Technology
            14.2.2.2. By Power Output
            14.2.2.3. By Transit Bus Models
    14.3. Brazil
        14.3.1. Pricing Analysis
        14.3.2. Market Share Analysis, 2022
            14.3.2.1. By Technology
            14.3.2.2. By Power Output
            14.3.2.3. By Transit Bus Models
    14.4. Mexico
        14.4.1. Pricing Analysis
        14.4.2. Market Share Analysis, 2022
            14.4.2.1. By Technology
            14.4.2.2. By Power Output
            14.4.2.3. By Transit Bus Models
    14.5. Germany
        14.5.1. Pricing Analysis
        14.5.2. Market Share Analysis, 2022
            14.5.2.1. By Technology
            14.5.2.2. By Power Output
            14.5.2.3. By Transit Bus Models
    14.6. United Kingdom
        14.6.1. Pricing Analysis
        14.6.2. Market Share Analysis, 2022
            14.6.2.1. By Technology
            14.6.2.2. By Power Output
            14.6.2.3. By Transit Bus Models
    14.7. France
        14.7.1. Pricing Analysis
        14.7.2. Market Share Analysis, 2022
            14.7.2.1. By Technology
            14.7.2.2. By Power Output
            14.7.2.3. By Transit Bus Models
    14.8. Spain
        14.8.1. Pricing Analysis
        14.8.2. Market Share Analysis, 2022
            14.8.2.1. By Technology
            14.8.2.2. By Power Output
            14.8.2.3. By Transit Bus Models
    14.9. Italy
        14.9.1. Pricing Analysis
        14.9.2. Market Share Analysis, 2022
            14.9.2.1. By Technology
            14.9.2.2. By Power Output
            14.9.2.3. By Transit Bus Models
    14.10. China
        14.10.1. Pricing Analysis
        14.10.2. Market Share Analysis, 2022
            14.10.2.1. By Technology
            14.10.2.2. By Power Output
            14.10.2.3. By Transit Bus Models
    14.11. Japan
        14.11.1. Pricing Analysis
        14.11.2. Market Share Analysis, 2022
            14.11.2.1. By Technology
            14.11.2.2. By Power Output
            14.11.2.3. By Transit Bus Models
    14.12. South Korea
        14.12.1. Pricing Analysis
        14.12.2. Market Share Analysis, 2022
            14.12.2.1. By Technology
            14.12.2.2. By Power Output
            14.12.2.3. By Transit Bus Models
    14.13. Singapore
        14.13.1. Pricing Analysis
        14.13.2. Market Share Analysis, 2022
            14.13.2.1. By Technology
            14.13.2.2. By Power Output
            14.13.2.3. By Transit Bus Models
    14.14. Thailand
        14.14.1. Pricing Analysis
        14.14.2. Market Share Analysis, 2022
            14.14.2.1. By Technology
            14.14.2.2. By Power Output
            14.14.2.3. By Transit Bus Models
    14.15. Indonesia
        14.15.1. Pricing Analysis
        14.15.2. Market Share Analysis, 2022
            14.15.2.1. By Technology
            14.15.2.2. By Power Output
            14.15.2.3. By Transit Bus Models
    14.16. Australia
        14.16.1. Pricing Analysis
        14.16.2. Market Share Analysis, 2022
            14.16.2.1. By Technology
            14.16.2.2. By Power Output
            14.16.2.3. By Transit Bus Models
    14.17. New Zealand
        14.17.1. Pricing Analysis
        14.17.2. Market Share Analysis, 2022
            14.17.2.1. By Technology
            14.17.2.2. By Power Output
            14.17.2.3. By Transit Bus Models
    14.18. GCC Countries
        14.18.1. Pricing Analysis
        14.18.2. Market Share Analysis, 2022
            14.18.2.1. By Technology
            14.18.2.2. By Power Output
            14.18.2.3. By Transit Bus Models
    14.19. South Africa
        14.19.1. Pricing Analysis
        14.19.2. Market Share Analysis, 2022
            14.19.2.1. By Technology
            14.19.2.2. By Power Output
            14.19.2.3. By Transit Bus Models
    14.20. Israel
        14.20.1. Pricing Analysis
        14.20.2. Market Share Analysis, 2022
            14.20.2.1. By Technology
            14.20.2.2. By Power Output
            14.20.2.3. By Transit Bus Models
15. Market Structure Analysis
    15.1. Competition Dashboard
    15.2. Competition Benchmarking
    15.3. Market Share Analysis of Top Players
        15.3.1. By Regional
        15.3.2. By Technology
        15.3.3. By Power Output
        15.3.4. By Transit Bus Models
16. Competition Analysis
    16.1. Competition Deep Dive
        16.1.1. Tata Motors Limited
            16.1.1.1. Overview
            16.1.1.2. Product Portfolio
            16.1.1.3. Profitability by Market Segments
            16.1.1.4. Sales Footprint
            16.1.1.5. Strategy Overview
                16.1.1.5.1. Marketing Strategy
                16.1.1.5.2. Product Strategy
                16.1.1.5.3. Channel Strategy
        16.1.2. Thor Industries
            16.1.2.1. Overview
            16.1.2.2. Product Portfolio
            16.1.2.3. Profitability by Market Segments
            16.1.2.4. Sales Footprint
            16.1.2.5. Strategy Overview
                16.1.2.5.1. Marketing Strategy
                16.1.2.5.2. Product Strategy
                16.1.2.5.3. Channel Strategy
        16.1.3. Hyundai
            16.1.3.1. Overview
            16.1.3.2. Product Portfolio
            16.1.3.3. Profitability by Market Segments
            16.1.3.4. Sales Footprint
            16.1.3.5. Strategy Overview
                16.1.3.5.1. Marketing Strategy
                16.1.3.5.2. Product Strategy
                16.1.3.5.3. Channel Strategy
        16.1.4. New Flyer Industries Ltd
            16.1.4.1. Overview
            16.1.4.2. Product Portfolio
            16.1.4.3. Profitability by Market Segments
            16.1.4.4. Sales Footprint
            16.1.4.5. Strategy Overview
                16.1.4.5.1. Marketing Strategy
                16.1.4.5.2. Product Strategy
                16.1.4.5.3. Channel Strategy
        16.1.5. Ballard Power Systems
            16.1.5.1. Overview
            16.1.5.2. Product Portfolio
            16.1.5.3. Profitability by Market Segments
            16.1.5.4. Sales Footprint
            16.1.5.5. Strategy Overview
                16.1.5.5.1. Marketing Strategy
                16.1.5.5.2. Product Strategy
                16.1.5.5.3. Channel Strategy
        16.1.6. NovaBus Corporation
            16.1.6.1. Overview
            16.1.6.2. Product Portfolio
            16.1.6.3. Profitability by Market Segments
            16.1.6.4. Sales Footprint
            16.1.6.5. Strategy Overview
                16.1.6.5.1. Marketing Strategy
                16.1.6.5.2. Product Strategy
                16.1.6.5.3. Channel Strategy
        16.1.7. EvoBus
            16.1.7.1. Overview
            16.1.7.2. Product Portfolio
            16.1.7.3. Profitability by Market Segments
            16.1.7.4. Sales Footprint
            16.1.7.5. Strategy Overview
                16.1.7.5.1. Marketing Strategy
                16.1.7.5.2. Product Strategy
                16.1.7.5.3. Channel Strategy
        16.1.8. Toyota Motor Corporation
            16.1.8.1. Overview
            16.1.8.2. Product Portfolio
            16.1.8.3. Profitability by Market Segments
            16.1.8.4. Sales Footprint
            16.1.8.5. Strategy Overview
                16.1.8.5.1. Marketing Strategy
                16.1.8.5.2. Product Strategy
                16.1.8.5.3. Channel Strategy
        16.1.9. Hino Motors Ltd.
            16.1.9.1. Overview
            16.1.9.2. Product Portfolio
            16.1.9.3. Profitability by Market Segments
            16.1.9.4. Sales Footprint
            16.1.9.5. Strategy Overview
                16.1.9.5.1. Marketing Strategy
                16.1.9.5.2. Product Strategy
                16.1.9.5.3. Channel Strategy
        16.1.10. SunLine Transit Agency
            16.1.10.1. Overview
            16.1.10.2. Product Portfolio
            16.1.10.3. Profitability by Market Segments
            16.1.10.4. Sales Footprint
            16.1.10.5. Strategy Overview
                16.1.10.5.1. Marketing Strategy
                16.1.10.5.2. Product Strategy
                16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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