European electric bus market is projected to grow at an exponential CAGR during the forecast period (2019-2025). The key factors that propel the growth of the market include the rising acceptance of the electric buses due to the rising environmental concerns along with the available government and private funding. In January 2021, according to the Transport and Environment (T&E), EU announced its aim to achieve zero emission by 2050. In 2019, Austria and Ireland had zero emission buses, while in Switzerland and Greece, less than 4% of new buses were emission free.
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Furthermore, according to the International Association of Public Transport (UITP), announced that around 45% of newly licensed units will be fully electric by 2030. In 2020, Germany took a step to provide 80% financing of the higher cost of electric buses and it also received funding of $326 million by EU commission for purchase of electric bus. Likewise, Poland government allocated fund of $351.60 for fully electrified transport by 2030, where the population in the cities is 100,000 or more. In May 2020, four cities including Bonn, Brussels, Dublin and Milan announced funding of $4.24 billion for EU to provide support post-COVID-19 for zero-emissions bus. Therefore, government funding is increasing and rising need of zero emission is propelling the growth of the electric bus industry in Europe.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Bus Type, By Battery Type, By End-user
- Region Covered-European
- Competitive Landscape- BYD co. Ltd., AB Volvo, MAN SE, Daimler AG, Irizar Corp., Ebusco Ltd., COBUS Industries GmbH and others.
European Electric Bus Market Report Segment
By Bus Type
- Hybrid Electric Bus
- Fuel Cell Electric Bus
- Battery Electric Bus
By Battery Type
- NiMH
- Li-ion
- Others
By End-User
- Government
- Fleet Owner
European Electric Bus Market- Countries Covered
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
