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Europe Electric Bus Market Forecast 2027 By Seating Capacity (Below 40 Seats, 40 - 70 Seats, above 70 Seats), By Type (All-electric, PHEV, FCEV), By Battery Capacity (Below 100 kWh, 100 - 300 kWh, above 300 kWh), By Application (Intracity, Intercity), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: September 2021 | Publisher: Graphical Research Report ID: GR1949 | Delivery : PDF  Request Free Sample

Europe Electric Bus Market size crossed USD 950 million in 2020 and is anticipated to expand at a CAGR of 23% from 2021 to 2027. The increasing focus of European manufacturers on boosting the production of electric vehicle batteries will drive the market growth. Several European companies are focusing on R&D associated with EV batteries to launch innovative solutions.
 

Europe Electric Bus Market Size, By Region

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The EU government has announced plans to create several new jobs as industries are increasing their capacity to supply lithium-ion batteries needed for electric vehicle production. Planned giga-factories across Europe will produce between seven million to eight million batteries annually. The government aims to significantly increase the production of e-vehicle batteries by 2025. To uplift local firms, the European Commission has approved around USD 3.5 billion in funding in 2020 for the electric-vehicle battery supply chain.

Europe Market, By Type

The PHEV electric bus market in Europe will register steady growth during the forecast period. Plug-in hybrid buses run on a combination of electric and diesel/gasoline engines, providing them with an enhanced range in terms of kilometers. The low cost of these buses compared to all-electric, and FCEVs will augment their market representation.

Europe Market, By Application

The rising demand for intracity electric buses is credited to stringent government regulations on vehicular emissions and low operating costs of electric buses. Technologically advanced batteries have various benefits including low energy consumption and provide a good range on a single charge, thus reducing operating costs. Growing urbanization, rising population, and growing adoption of electric buses in educational institutions are fueling the demand of intracity electric buses in Europe.

Competitive Industry Landscape

Major companies operating in the Europe electric bus market include Anhui Ankai Automobile Co., Ltd., Beiqi Foton Motor Co., Ltd., Daimler AG, Ebusco, Irizar S.C., Iveco SPA, MAN SE, NFI Group, Inc., and Proterra, Inc.

Industry players are adopting several strategies, such as mergers & acquisitions, and partnerships. For instance, in November 2020, Ebusco partnered with Rocsys, a supplier of plug-in robots, for the automation of its bus depot project. The bus depot automation through robotization was expected to be in service by April 2021. Companies are also focusing on new bus launches to increase their revenue share and expand their market presence.
 

Frequently Asked Question(FAQ) :

The market size for electric bus in Europe was surpassed USD 950 million in 2020 and will grow at a strong CAGR of 23% through 2027 with increasing production of EV batteries.
Plug-in hybrid electric bus will account for considerable share of Europe market through 2027 owing to low cost and improved range.
The market share for electric bus in Europe from intracity will grow at a notable rate due to rigorous government regulations on emissions and adoption of technologically advanced batteries.
The industry for electric bus in Europe has become competitive with companies, such as Iveco SPA, NFI Group, Inc., Beigi Foton Motor Co., Ltd, Anhui Ankai Automobile Co., Ltd., Daimler, Proterra, Inc., and Ebusco, among others.

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