NEW YORK, Nov. 25, 2019 (GLOBE NEWSWIRE) -- The European electric bus market is projected to reach USD 11,866 Units by 2024, registering a CAGR of 32.9% during the forecast period. Government support for electric vehicles, increasing need to reduce greenhouse gas emission, and advancement in technology, propelling the growth of the market.
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Less than 10m category accounted for the larger revenue share in the electric bus market
Based on length, the European electric bus market is categorized into less than 10m, and more than 10m. Of all, the less than 10m category accounted for larger share in 2018 due to preference of smaller than 10m buses by the transport authority.
Explore key industry insights in 23 tables and 15 figures from the 87 pages of report, “Europe Electric Bus Market Analysis and Forecast to 2024 - Industry Insights by Vehicle Type (Battery Electric Bus [BEB], Hybrid Electric Bus [HEB], Plug-In Hybrid Electric Bus [PHEB]), by Battery (Lithium Iron Phosphate Battery [LFP], Lithium Nickel Manganese Cobalt Oxide [NMC], Others), by Length (Less Than 10m, More Than 10m)”
Primary factor for the growth of the European electric bus market is the government support for electric vehicles
Different governments across Europe are taking initiatives to replace the petroleum based automotive fleet with electric powered vehicles. Different countries provide incentive and frame regulations to support the electric vehicles adoption. In the European Union, governments are undertaking key initiatives to opt for green energy driven vehicles. The policies related to electric buses in EU are mainly focused on technological optimization and market development. For instance, the European Commission supported a Europe-wide electromobility initiative, Green eMotion, worth €41.8 million (USD 46.9 million), in partnership with forty-two partners from industry, utilities, electric vehicle manufacturers, municipalities, universities and technology and research institutions.
Competitive Insight
Some of the key players operating in the European electric bus market are Solaris Bus & Coach, VDL Bus & Coach BV, EBUSCO, Bozankaya A.S., Belkommunmash Holding, Sor Libchavy spol. s r.o., AB Volvo, Irizar Group, Scania AB, BYD company limited, and Alexander Dennis Limited.
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Key Takeaways from the Report:
- Among all vehicle types, the battery electric bus (BEB) category accounted for largest share in 2018.
- Of all the batteries, lithium iron phosphate battery (LFP) category accounted for largest share in 2018.
- Less than 10m category accounted for larger share in 2018.
The Report Offers:
- Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
- Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
- Market insights by in-depth segmentation with industry dynamics.
- Competitive analysis and benchmarking of the industry leaders and their product offerings
- Profiles of leading players and innovators, their financial overview and product portfolio
- Analysis of key industry trends and recent developments
- Value chain analysis and distribution channel analysis with opportunity assessment
- Market share analysis of major players
- Pricing analysis of electric buses
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of volume (Units). The report segments the Europe electric bus market on the basis of vehicle type, battery, length, and country.
Europe Electric Bus Market Coverage
Vehicle Type Insight and Forecast 2014-2024
- Battery Electric Bus (BEB)
- Hybrid Electric Bus (HEB)
- Plug-In Hybrid Electric Bus (PHEB)
Battery Insight and Forecast 2014-2024
- Lithium Iron Phosphate Battery (LFP)
- Lithium Nickel Manganese Cobalt Oxide (NMC)
- Others
Length Insight and Forecast 2014-2024
- < 10m
- > 10m
Geographical Segmentation
Electric Bus Market by Country
- U.K.
- Germany
- France
- Spain
- Netherlands
- Sweden
- Austria
- Poland
- Belgium
- Rest of Europe
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