The "Europe Electric Bus Market Forecast to 2028 COVID-19 Impact and Regional Analysis by Vehicle Type, Hybrid Powertrain, Battery and End User" report has been added to ResearchAndMarkets.com's offering.
The Europe electric bus market is expected to grow from US$ 1,493.80 million in 2021 to US$ 5,882.93 million by 2028; it is estimated to grow at a CAGR of 21.6% from 2021 to 2028.
An electric powertrain is combined with fuel cell systems, controlled technology, and batteries to power hydrogen-fueled buses. These buses are considered next-generation green transportation because their lifespan is far longer than a typical electric bus. The hydrogen fuel cell bus can refuel quickly and has many directions. With such benefits, the demand for hydrogen fuel cell buses is skyrocketing.
For instance, over a thousand hydrogen buses are expected to be launched during the next few years. The deployment will grow significantly over the next decade, with the scalability factor outweighing the high procurement costs. Within the scope of three initiatives in Cwmbran, Warwickshire, and Ballymena, the UK Business Secretary announced a GBP 54 million fund to create the next generation of electric trucks and hydrogen-powered buses. The initiatives are expected to create around 10,000 jobs and reduce 45 million tons of carbon emissions across the UK. Thus, the increasing demand for hydrogen-fueled buses is driving the electric bus market across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe electric bus market The Europe electric bus market is expected to grow at a good CAGR during the forecast period.
Europe Electric Bus Market Segmentation
The Europe electric bus market is segmented based on vehicle type, hybrid powertrain, battery, end user, and country.
Based on vehicle type, the market is segmented into the battery-electric bus, hybrid electric bus, and plug-in hybrid electric bus. The battery-electric bus segment dominated the market in 2021.
Based on hybrid powertrain, the market is segmented into series-parallel hybrid, parallel hybrid, and series hybrid. The parallel hybrid segment dominated the market in 2021.
Based on battery, the market is bifurcated into lithium iron phosphate (LIP) and lithium nickel manganese cobalt oxide (NMC). The lithium iron phosphate (LIP) segment dominated the market in 2021.
Based on end user, the market is bifurcated into public and private. The public segment dominated the market in 2021.
Market Dynamics
Market Drivers
- Surging Demand for Hydrogen Fuel Bus
- Stiff Government Emission Regulations
Market Restraints
- High Initial and Development Cost
Market Opportunities
- Rising Production of Low-cost Lithium ion-Phosphate Batteries
Future Trends
- Emergence of Autonomous and Semi-Autonomous Transportation Systems
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Europe Electric Bus Market Landscape
5. Europe Electric Bus Market Key Market Dynamics
6. Electric Bus Market Europe Analysis
7. Europe Electric Bus Market Analysis By Vehicle Type
8. Europe Electric Bus Market Analysis By Hybrid Powertrain
9. Europe Electric Bus Market Analysis By Battery
10. Europe Electric Bus Market Analysis By End User
11. Europe Electric Bus Market Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- AB Volvo
- BYD Company Ltd
- CAF Group (Solaris Bus Coach)
- Daimler AG
- Ebusco
- King Long United Automotive Industry Co., Ltd
- NFI Group
- Shenzhen Wuzhoulong Motors Co., Ltd
- Van Hool NV
For more information about this report visit https://www.researchandmarkets.com/r/bt4szk
View source version on businesswire.com: https://www.businesswire.com/news/home/20221019005821/en/
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