Sweden-based hydraulics technology company Concentric has extended a deal worth SEK 14 million ($1.3 million) annually to provide EMP-branded electric water pumps to a major North American electric school bus OEM.

The global electric bus market was estimated at $35.3 billion in 2021 and is expected to hit $439.7 billion by 2031, registering a compound annual growth rate (CAGR) of 29.5% from 2022 to 2031, according to Allied Market Research

“We believe that the partnership with this customer solidifies our technology in this rapidly growing sector and ensures we continue to contribute towards a greener, more sustainable future,” says Martin Kunz, President and CEO at Concentric.

Source: Concentric