Europe Electric Bus Market

The Europe electric bus market is expected to grow from US$ 1,493.80 million in 2021 to US$ 5,882.93 million by 2028; it is estimated to grow at a CAGR of 21.6% from 2021 to 2028

 

An electric powertrain is combined with fuel cell systems, controlled technology, and batteries to power hydrogen-fueled buses. These buses are considered next-generation green transportation because their lifespan is far longer than a typical electric bus. The hydrogen fuel cell bus can refuel quickly and has many directions. With such benefits, the demand for hydrogen fuel cell buses is skyrocketing. For instance, over a thousand hydrogen buses are expected to be launched during the next few years. The deployment will grow significantly over the next decade, with the scalability factor outweighing the high procurement costs. For instance, within the scope of three initiatives in Cwmbran, Warwickshire, and Ballymena, the UK Business Secretary announced a GBP 54 million fund to create the next generation of electric trucks and hydrogen-powered buses. The initiatives are expected to create around 10,000 jobs and reduce 45 million tons of carbon emissions across the UK. Thus, the increasing demand for hydrogen-fueled buses is driving the electric bus market across the region.    

 

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe electric bus market. The Europe electric bus market is expected to grow at a good CAGR during the forecast period. 

 

 Europe Electric Bus Market Revenue and Forecast to 2028 (US$ Million)      

 

 

Europe Electric Bus Market Segmentation       

 

The Europe electric bus market is segmented based on vehicle type, hybrid powertrain, battery, end user, and country. Based on vehicle type, the market is segmented into the battery-electric bus, hybrid electric bus, and plug-in hybrid electric bus. The battery-electric bus

segment dominated the market in 2021. Based on hybrid powertrain, the market is segmented into series-parallel hybrid, parallel hybrid, and series hybrid. The parallel hybrid segment dominated the market in 2021. Based on battery, the market is bifurcated into lithium iron phosphate (LIP) and lithium nickel manganese cobalt oxide (NMC). The lithium iron phosphate (LIP) segment dominated the market in 2021. Based on end user, the market is bifurcated into public and private. The public segment dominated the market in 2021. Based on country, the Europe electric bus market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. The UK dominated the market in 2021.          

 

AB Volvo; BYD Company Ltd; CAF Group (Solaris Bus & Coach); Daimler AG; Ebusco; King Long United Automotive Industry Co., Ltd; NFI Group; Shenzhen Wuzhoulong Motors Co., Ltd; and Van Hool NV are among the leading companies in the Europe electric bus market. 

Europe Electric Bus Strategic Insights

Strategic insights for the Europe Electric Bus provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Electric Bus Report Scope

Europe Electric Bus Regional Insights

The geographic scope of the Europe Electric Bus refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.