Electric Bus Market Is Expected To Reach 912,354 Sales Units by 2030

The requirement for electric buses is increasing as a result of actions and measures being taken by governments across Europe to reduce pollution. According to WHO data, air pollution causes up to 100,000 fatalities annually in Europe, reducing life expectancy by an average of one year.

Because of the risks associated with air pollution, governments in both developed and developing nations are working to reduce this threat. By pledging to electrify their bus fleets, governments from several countries have started reforms in public transportation networks.

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An electric bus now costs less overall than a comparable diesel model thanks to strong government assistance in the form of subsidies. Thus, the electric bus market sales volume is expected to reach 912,354 units by 2030, as per P&S Intelligence.

The BEB category holds 68.6% of the market share in Europe. The operational costs of BEBs are now comparable to those of ICE-based buses in European nations because of advancements in battery technology and rising BEB manufacturing.

Moreover, governments and environmental organizations' growing worries about the deterioration of air quality as a result of rising emissions from urban vehicles have prompted the creation of strict environmental regulations.

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As a result, the adoption of strict rules and people's growing environmental consciousness stimulate the use of zero- and low-emission transportation systems everywhere in the globe.
Additionally, as technology develops, the battery capacity may rise to satisfy the desire for a greater driving range. Because cobalt is a costly raw material utilized in these batteries, manufacturers are always attempting to achieve a better energy density. This would raise the operating efficiency of such batteries and reduce their cost, respectively.

Furthermore, the global crude oil prices have increased as a result of the main oil-producing nations' declining oil reserves. Since the majority of developing nations spend a lot of money importing crude oil, the rise in its price has forced governments to reduce their oil imports by switching to alternate fuels.

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