Europe Electric Bus Market

Market Overview:

The Europe electric bus market is expected to exhibit a growth rate (CAGR) of 16.4% during 2023-2028. The rising environmental concerns, stringent regulations for reducing carbon dioxide (CO₂) emissions, and expansion of charging infrastructure represent some of the key factors driving the market.

An electric bus refers to an electric vehicle (EV) powered by an electric motor. It consists of a charging system, power electronics, regenerative braking system, and battery pack. It produces zero tailpipe emissions and does not emit harmful pollutants, such as nitrogen oxides and sulfur dioxide. It is quieter and emits minimum greenhouse gas (GHG) as compared to a conventional bus that runs on fossil fuel. It also assists in improving the overall health and well-being of the people and facilitates passengers a comfortable journey. Moreover, it requires less maintenance and low operating cost and offers smoother acceleration and high energy efficiency. As a result, the electric bus is gaining widespread adoption across Europe.

Europe Electric Bus Market Trends:

At present, rising environmental concerns and stringent regulations to reduce carbon dioxide (CO₂) emissions from conventional fuel vehicles represent one of the key factors positively influencing the market in Europe. In addition, the expansion of charging infrastructure and development of testing facilities for analyzing electric motors, controllers, and battery chargers is offering lucrative growth opportunities to key market players operating in the region. In line with this, governing agencies of various countries in Europe are promoting the uptake of e-buses and supporting the expansion of existing e-fleets through the eBussed project. The project contributes to the objective of improving low-carbon economy policies by encouraging regions to develop and deliver better policies related to the deployment of e-buses. It also facilitates the integration of electricity production based on renewables and low-carbon electrified public transport, which is strengthening the market growth. Apart from this, leading market players are focusing on improving the motor efficiency of electric buses. They are also collaborating with the private and public sectors to develop, demonstrate, and deploy technologies that enhance the performance of electric drive vehicles. Additionally, the increasing awareness among people about the benefits of using electric-powered transports, coupled with the inflating prices of petroleum products, are fueling the growth of the market. Furthermore, increasing investments in research and development (R&D) activities to increase energy storage of batteries are stimulating the growth of the market across the region.  

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe electric bus market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on propulsion type, battery type, length, range and battery capacity.

Propulsion Type Insights:

• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
   

The report has provided a detailed breakup and analysis of the Europe electric bus market based on the propulsion type. This includes battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), and plug-in hybrid electric vehicle (PHEV). According to the report, battery electric vehicle (BEV) represented the largest segment.

Battery Type Insights:

• Lithium-ion Battery
• Nickel-Metal Hydride Battery (NiMH)
• Others
   

A detailed breakup and analysis of the Europe electric bus market based on the battery type has also been provided in the report. This includes lithium-ion battery, nickel-metal hydride battery (NiMH) and others. According to the report, lithium-ion battery accounted for the largest market share.

Length Insights:

• Less than 9 Meters
• 9-14 Meters
• Above 14 Meters
   

A detailed breakup and analysis of the Europe electric bus market based on the length has also been provided in the report. This includes less than 9 meters, 9-14 meters, and above 14 meters. According to the report, 9-14 meters accounted for the largest market share.

Range Insights:

• Less than 200 Miles
• More than 200 Miles
   

A detailed breakup and analysis of the Europe electric bus market based on the range has also been provided in the report. This includes less than 200 miles and more than 200 miles. According to the report, less than 200 miles accounted for the largest market share.

Battery Capacity Insights:

• Up to 400 kWh
• Above 400 kWh
   

A detailed breakup and analysis of the Europe electric bus market based on the battery capacity has also been provided in the report. This includes up to 400 kWh and above 40 kWh. According to the report, up to 400 kWh accounted for the largest market share.

Country Insights:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Germany, France, United Kingdom, Italy, Spain, and others. According to the report, Germany was the largest market for Europe electric bus. Some of the factors driving the Germany electric bus market included rising environmental concerns, stringent regulations to reduce CO₂ emissions, expansion of charging infrastructure, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the Europe electric Bus market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Europe electric bus market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Europe electric bus market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe electric bus industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.