India's electric bus market showed signs of growth in early 2025 with 1,571 registrations but remains a small fraction of the overall bus industry. In 2024, electric buses accounted for only 12.5% of heavy passenger vehicle registrations. The market is highly concentrated, with the top five players making up over 90% of total sales. PMI Electro Mobility Solutions led the market with a 30.9% share, while other competitors like Switch and Olectra also showed significant contributions. Overall, the electric bus sector aligns with public sector strategies for fleet modernization and environmental goals.
While electric buses continue to represent a small share of the broader bus industry, they remain central to public sector fleet renewal strategies and state-level decarbonization targets.
The electric segment represented 12.5% of heavy passenger vehicle (HPV) registrations and only 6.2% of the total bus market.
The top five players-PMI, Switch, Olectra, JBM, and Tata-collectively accounted for over 90% of the market during this period, underlining the concentration of procurement-driven demand.
PMI Electro Mobility Solutions emerged as the market leader, registering 485 units, which accounts for 30.9% of total e-bus sales.
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