Europe Electric Bus Market Will Significantly grow at a 33.9% CAGR during Forecast Period 2021-2027

The Europe electric bus market is anticipated to grow significantly at a 33.9% CAGR during 2021-2027 owing to the adoption of clean technologies in public transportation so as to cope with air pollution in urban areas. Factors attributing to the growth of Europe electric bus market include strict emission regulations, increased dependence on non-renewable fuels, robust growing environmental ethics, and rising need to integrate renewables into a network.

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Furthermore, the increased penetration of charging infrastructure will play a crucial role in the development of the electric bus market in Europe. Also, European companies are emphasizing R&D activities related to EV batteries to offer innovative solutions to consumers. Nevertheless, electric buses enhance energy efficiency, provides mass transit solutions, and offers passenger comfort, thereby creating opportunities for growth in the market.

COVID-19 Analysis:

The COVID-19 pandemic has had a substantial impact on the electric bus market. The production and sales of electric buses were temporarily halted during the crisis. However, the manufacturers of electric buses have to adjust their production post-crisis too so as to sustain themselves in the market.

Market Segmentation:

Based on vehicle type, battery-electric bus contributes to the largest share in the market as these vehicles are environment friendly and has reduced running cost, such as the reduction of energy and ownership cost, and also provides low or zero-emission of greenhouse gases.

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France, the UK, Poland, Nordics, Netherlands, and Germany account for more than half of Europe's total number of electric buses. By 2025, the Netherlands is mandating the sale of 100 percent zero-emission vehicle (ZEV) public transportation buses, with a 100 percent ZEV fleet by 2030, replacing all fossil-fuel vehicles.

Due to the increasing acceptance rate of electric vehicles, initiatives by government to support the usage of electric vehicles and the development of infrastructure associated with electric vehicles, the U.K. electric bus market accounted for the highest share in Europe electric bus market.

Recent News:

In July 2021, Irizar e-mobility has signed an agreement with RATP (Régie Autonome des Transports Parisiens) to offer zero-emission electric buses. It is one of Europe's largest electric bus procurement projects. Irizar e-mobility is gaining traction in the French market, and its electric buses will soon be heading to Paris. The 350 kWh Irizar batteries will be installed in the 12-metre-long vehicles, and they will be slowly charged in the depot. The Irizar Group, a pioneer in offering electromobility solutions with a holistic vision for cities, provides electronics, communications, and other essential components and systems of the buses.

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Major Players:

The prominent players in Europe electric bus industry include Sor Libchavy spol. s r.o., AB Volvo, Solaris Bus & Coach, VDL Bus & Coach BV, EBUSCO, Bozankaya A.S., Belkommunmash Holding, Irizar Group, Scania AB, BYD company limited, and Alexander Dennis Limited.

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