Development of advanced batteries for electric bus and ongoing electrification of public transportation sector are driving the growth of Europe electric bus market in the forecast period, 2023-2027.
According to TechSci Research report, “Europe Electric Bus Market By Propulsion (BEV, HEV, PHEV, FCEV), By Battery Type (Lead Acid and Li-ion), By Battery Capacity (<100 kWh, 100–200 kWh, 201–300 kWh, >300 kWh), By Range (0–150 Miles, 151–250 Miles, 251–500 Miles, >500 Miles), By Seating Capacity (Up to 30, 31-40, 41-50, Above 50), By Length (6-8 m, 8-10m, 10-12 m, Above 12), By Body Type (Customizable Body, Fully Build), By Region, Competition Forecast & Opportunities, 2027”, the Europe electric bus market is anticipated to grow at a rate of steady CAGR for the forecast period, 2023-2027.
The rise in demand for fuel-efficient, performance-driven, low-emission buses to curb the pollution level and support from the government to run vehicles on alternate sources of energy is driving the demand for electric buses in the region. Reduction in battery prices and the high-end investments to develop a sustainable public transportation sector is expected to create lucrative growth opportunities for the European electric bus market in the next five years.
However, the high manufacturing cost of electric buses may restrain the Europe electric bus market growth for the forecast period.
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The Europe Electric Bus market is segmented based on propulsion, battery type, battery capacity, range, seating capacity, length, body type, company, and country.
Based on propulsion, the market is divided into BEV, HEV, PHEV, and FCEV. Battery electric vehicle (BEV) is expected to hold the largest market share in the forecast period, 2023-2027. These buses store electricity onboard in the high-capacity batteries. Battery electric vehicles are preferred to run in urban cities because they boast fast charging time with a longer life cycle. Battery electric vehicles cover almost all the newly registered zero-emission buses in Europe. They are witnessing high demand with the growing investments to develop the public transportation sector.
Based on battery capacity, the market is divided into <100 kWh, 100–200 kWh, 201–300 kWh, and >300 kWh. >300 kWh battery capacity is expected to capture the largest market share in the forecast period. Electric buses belonging to this category are cheaper. Lightweight and more efficient than the other electric buses. Electric buses belonging to >300 kWh battery capacity can cover more considerable distances on a single charge.
Based on range, the market is divided into 0–150 miles, 151–250 miles, 251–500 miles, and >500 miles. 151-200 miles is expected to account for the largest market share in the next five years. Electric buses running in this range require less charging time and lower total operating costs. Reduction in the battery costs and improvement in technology to boost the fuel mileage are expected to boost the growth of the Europe electric bus market.
Based on seating capacity, the market is divided into up to 30, 31-40, 41-50, and above 50. The up to 30-seater electric bus segment is expected to account for significant market share in the forecast period. It can easily store large volumes of luggage and supports easy boarding on the bus.
Based on the country analysis, the Netherlands is expected to dominate the Europe electric bus market in the forecast period. In 2016, the Netherlands adopted the plan to fully decarbonize the public transportation sector with a 100% zero-emission inflow from 2025. The growing awareness about the benefits of availing electric public transportation services and the rapid electrification of public transport is expected to act as positive factors for the Europe electric bus market for the next five years.
Major market players operating in the Europe electric bus market are:
- Solaris Bus & Coach sp. z o.o.
- VDL Bus & Coach BV
- Ebusco B.V.
- MAN Truck & Bus SE
- AB Volvo, BYD Auto Co., Ltd.
- Scania AB
- IVECO S.p.A.
- Irizar Group
- Daimler AG
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“European countries, including the Netherlands, Luxembourg, Norway, Poland, Finland, and the United Kingdom, have registered many zero-emission electric buses of the Class I registrations in 2020. The increase in consumers’ preference to ride public transportation services and technological advancements to improve the performance of the electric bus is contributing significantly to decarbonizing the transportation sector. Leading authorities are making efforts to advance the existing transportation infrastructure, and promoting the adoption of electric buses to reduce pollution levels is expected to boost the demand for the Europe electric bus market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Europe Electric Bus Market By Propulsion (BEV, HEV, PHEV, FCEV), By Battery Type (Lead Acid and Li-ion), By Battery Capacity (<100 kWh, 100–200 kWh, 201–300 kWh, >300 kWh), By Range (0–150 Miles, 151–250 Miles, 251–500 Miles, >500 Miles), By Seating Capacity (Up to 30, 31-40, 41-50, Above 50), By Length (6-8 m, 8-10m, 10-12 m, Above 12), By Body Type (Customizable Body, Fully Build), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Europe electric bus market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe electric bus market.
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