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Europe Electric Bus Market Size, Share, Trends, Growth: By Propulsion Type: Battery Electric Bus, Plug-in Hybrid Electric Bus, Fuel Cell Electric Bus; By Length: Less than 9 Meters, 9-14 Meters, Above 14 Meters; By Battery Type; By Range; By Battery Capacity; By End User; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Europe Electric Bus Market Outlook
The Europe electric bus market size was approximately USD 2.23 billion in 2023. The market is assessed to grow at a CAGR of 18.5% between 2024 and 2032, reaching a value of around USD 10.71 billion by 2032.
Key Trends in the Market
Electric buses refer to vehicles that use electric motors to generate mechanical energy. They reduce local and global emissions and boast lower operating costs than their conventional counterparts. Several countries worldwide are adopting electric mobility solutions, including electric buses, to reduce emissions from the transportation sector.
Electric buses can cut pollutants and lower the level of carbon emissions, thereby improving the quality of air and life. A conventional vehicle with an internal combustion engine, on average, produces 1.3kg CO2 per km travelled, whereas an electric bus produces none.
- The Europe electric bus market demand is being driven by rapid urbanisation, increasing traffic congestion, growing environmental concerns, and changing mobility patterns. In the first half of 2023, Europe deployed approximately 2567 electric buses, surpassing the number of electric buses adopted in 2022.
- The introduction of several initiatives by the European Union, governments, and key organisations to promote the usage of electric vehicles is positively impacting the Europe electric bus market growth . The European Commission aims to deploy only zero-emission city buses by 2030 to combat the climate crisis and reach zero-emission goals.
- Various countries in the region are phasing out internal combustion engine (ICE) vehicles to decarbonise the transportation sector, boosting sales of e-buses. For instance, the Netherlands, Ireland, and Austria have set targets to phase out sales of internal combustion engines used in buses by 2025, 2030, and 2032 respectively. Moreover, more than half of European capital cities are planning to deploy zero-emission buses by 2040 amid stringent government regulations.
- The Europe electric bus market expansion is further being supported by technological advancements and innovations, coupled with increasing adoption of autonomous e-buses that can enhance the safety and comfortability of public transportation. For instance, Karsan’s Level-4 autonomous e-buses, which can detect road and environmental conditions at defined routes and offer maximum safety to passengers, have been adopted in Romania.
Europe Electric Bus Market Segmentation
Based on the propulsion type, the market is segmented into battery electric bus, plug-in hybrid electric bus, and fuel cell electric bus. On the basis of length, the market can be divided into less than 9 meters, 9-14 meters, and above 14 meters. Based on battery type, the market is segmented into lithium-ion battery, and nickel-metal hydride battery (NiMH), among others.
Based on range, the market is categorised into less than 200 miles and more than 200 miles. On the basis of battery capacity, the market is bifurcated into up to 400 kWh and above 400 kWh. Based on end user, the market is divided into private and public. By country, the market is divided into Germany, the United Kingdom, France, and Italy, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Europe electric bus market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Yutong Bus Co., Ltd.
- Daimler Truck AG
- IVECO S.p.A
- Solaris Bus & Coach sp. z o.o.
- AB Volvo
- Traton SE
- Karsan Otomotiv San. ve Tic. A.S
- Xiamen Golden Dragon Bus Co.,LTD
- TAM-Europe d.o.o.
- BYD Europe B.V.
- Others
Market Share by Propulsion Type
According to the Europe electric bus market analysis, plug-in hybrid electric buses (PHEVs) are gaining significant demand as they use batteries to power an electric motor and fuels such as gasoline to operate an internal combustion engine (ICE). Initially, the vehicle runs on electric power, and when the battery is depleted, it automatically switches to the internal combustion engine.
The main components of a plug-in hybrid electric bus are batteries, charge ports, electric traction motors, and fuel tanks, among others. Meanwhile, fuel-cell electric buses are gaining popularity in Europe owing to their ability to incorporate both hydrogen fuel cells and batteries/capacitors.
Market Share by Country
The United Kingdom holds a substantial portion of the Europe electric bus market share as the country is committed to decarbonise road transport by 2040. To support this goal, the UK government introduced the ZEBRA (Zero Emissions Bus Regional Areas) scheme in 2021 aimed at promoting the use of zero-emissions buses and developing robust infrastructure.
Moreover, to support the electrification of buses, the Department for Transport (DfT) in the United Kingdom has also invested £320m (€362m) to fund 4,000 zero-emission (ZE) buses by 2025.
Competitive Landscape
AB Volvo was established in 1927 and is headquartered in Gothenburg, Sweden. It is a multinational manufacturing corporation that deals in the production and distribution of trucks, buses, construction equipment, and power solutions for marine and industrial applications.
Xiamen Golden Dragon Bus Co., LTD was founded in 1992 and is a joint venture company which is headquartered in Xiamen, China. It specialises in developing, manufacturing, and selling luxury buses and light vans in medium to large sizes. Its products include Intour electric bus, Astar, Polestar electric bus, and E12 electric bus series, among others.
BYD Europe B.V. was founded in 1998 and is a pioneer in battery technology. The leading European e-bus manufacturer aims to transform the global transportation sector through electrification. It offers a wide range of electric buses, including BYD eBus B11, BYD eBus B13, and BYD eBUS B15, among others.
Other Europe electric bus market players include Yutong Bus Co., Ltd., Daimler Truck AG, IVECO S.p.A, Solaris Bus & Coach sp. z o.o., Traton SE, Karsan Otomotiv San. ve Tic. A.S, TAM-Europe d.o.o., BYD Europe B.V., and others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Propulsion Type |
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| Breakup by Length |
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| Breakup by Battery Type |
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| Breakup by Range |
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| Breakup by Battery Capacity |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Electric Bus Market Overview
8.1 Key Industry Highlights
8.2 Global Electric Bus Historical Market (2018-2023)
8.3 Global Electric Bus Market Forecast (2024-2032)
8.4 Global Electric Bus Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Europe Electric Bus Market Overview
9.1 Key Industry Highlights
9.2 Europe Electric Bus Historical Market (2018-2023)
9.3 Europe Electric Bus Market Forecast (2024-2032)
10 Europe Electric Bus Market by Propulsion Type
10.1 Battery Electric Bus
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Plug-in Hybrid Electric Bus
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Fuel Cell Electric Bus
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Europe Electric Bus Market by Length
11.1 Less than 9 Meters
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 9-14 Meters
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Above 14 Meters
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Europe Electric Bus Market by Battery Type
12.1 Lithium-ion Battery
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Nickel-Metal Hydride Battery (NiMH)
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Others
13 Europe Electric Bus Market by Range
13.1 Less than 200 Miles
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 More than 200 Miles
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Europe Electric Bus Market by Battery Capacity
14.1 Up to 400 kWh
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Above 400 kWh
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Europe Electric Bus Market by End User
15.1 Private
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Public
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
16 Europe Electric Bus Market by Country
16.1 Germany
16.1.1 Historical Trend (2018-2023)
16.1.2 Forecast Trend (2024-2032)
16.2 United Kingdom
16.2.1 Historical Trend (2018-2023)
16.2.2 Forecast Trend (2024-2032)
16.3 France
16.3.1 Historical Trend (2018-2023)
16.3.2 Forecast Trend (2024-2032)
16.4 Italy
16.4.1 Historical Trend (2018-2023)
16.4.2 Forecast Trend (2024-2032)
16.5 Others
17 Market Dynamics
17.1 SWOT Analysis
17.1.1 Strengths
17.1.2 Weaknesses
17.1.3 Opportunities
17.1.4 Threats
17.2 Porter’s Five Forces Analysis
17.2.1 Supplier’s Power
17.2.2 Buyer’s Power
17.2.3 Threat of New Entrants
17.2.4 Degree of Rivalry
17.2.5 Threat of Substitutes
17.3 Key Indicators of Demand
17.4 Key Indicators of Price
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Yutong Bus Co., Ltd.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Daimler Truck AG
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 IVECO S.p.A
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Solaris Bus & Coach sp. z o.o.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 AB Volvo
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Traton SE
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Karsan Otomotiv San. ve Tic. A.S
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Xiamen Golden Dragon Bus Co.,LTD
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 TAM-Europe d.o.o.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 BYD Europe B.V.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Bus Market: Key Industry Highlights, 2018 and 2032
2. Europe Electric Bus Market: Key Industry Highlights, 2018 and 2032
3. Europe Electric Bus Historical Market: Breakup by Propulsion Type (USD Billion), 2018-2023
4. Europe Electric Bus Market Forecast: Breakup by Propulsion Type (USD Billion), 2024-2032
5. Europe Electric Bus Historical Market: Breakup by Length (USD Billion), 2018-2023
6. Europe Electric Bus Market Forecast: Breakup by Length (USD Billion), 2024-2032
7. Europe Electric Bus Historical Market: Breakup by Battery Type (USD Billion), 2018-2023
8. Europe Electric Bus Market Forecast: Breakup by Battery Type (USD Billion), 2024-2032
9. Europe Electric Bus Historical Market: Breakup by Range (USD Billion), 2018-2023
10. Europe Electric Bus Market Forecast: Breakup by Range (USD Billion), 2024-2032
11. Europe Electric Bus Historical Market: Breakup by Battery Capacity (USD Billion), 2018-2023
12. Europe Electric Bus Market Forecast: Breakup by Battery Capacity (USD Billion), 2024-2032
13. Europe Electric Bus Historical Market: Breakup by End User (USD Billion), 2018-2023
14. Europe Electric Bus Market Forecast: Breakup by End User (USD Billion), 2024-2032
15. Europe Electric Bus Historical Market: Breakup by Country (USD Billion), 2018-2023
16. Europe Electric Bus Market Forecast: Breakup by Country (USD Billion), 2024-2032
17. Europe Electric Bus Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 2.23 billion.
The market is estimated to grow at a CAGR of 18.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 10.71 billion by 2032.
The market is being driven by the rapid urbanisation, evolving mobility patterns, and the introduction of government initiatives aimed at decarbonising the transportation sector.
The key trends aiding the market expansion are technological advancements and innovations and the rising adoption of fuel cell electric buses.
The major propulsion types of electric bus are battery electric bus, plug-in hybrid electric bus, and fuel cell electric bus.
The different battery types in the market are lithium-ion battery and nickel-metal hydride battery (NiMH), among others.
The major key players in the market are Yutong Bus Co., Ltd., Daimler Truck AG, IVECO S.p.A, Solaris Bus & Coach sp. z o.o., AB Volvo, Traton SE, Karsan Otomotiv San. ve Tic. A.S, Xiamen Golden Dragon Bus Co.,LTD, TAM-Europe d.o.o., and BYD Europe B.V., among others.
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