The advance of electric buses will be even more rapid than for electric cars, according to the latest long-term forecast from Bloomberg New Energy Finance (BNEF).
Thanks to falling battery costs and larger-scale manufacturing, sales of electric buses are expected to rise to 84 per cent of their respective global markets by 2030, with sales of electric cars predicted to reach 28 per cent.
It shows electric buses in almost all charging configurations having a lower total cost of ownership than conventional municipal buses by 2019.
There are already over 300,000 e-buses on the road in China, and electric models are on track to dominate the global market by the late 2020s.
Colin McKerracher, lead analyst on advanced transportation for BNEF, commented: “The big new feature of this forecast is electric buses. China has led this market in spectacular style, accounting for 99% of the world total last year. The rest of the world will follow, and by 2040 we expect 80% of the global municipal bus fleet to be electric.”