Market Size of Europe Electric Bus Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.76 Billion |
| Market Size (2029) | USD 3.48 Billion |
| CAGR (2024 - 2029) | 14.56 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Electric Bus Market Analysis
The Europe Electric Bus Market size is estimated at USD 1.76 billion in 2024, and is expected to reach USD 3.48 billion by 2029, growing at a CAGR of 14.56% during the forecast period (2024-2029).
- Clean technologies in public transportation are more and more needed in the current scenario to cope with air pollution in urban areas. The demand for electric buses in Europe has augmented dramatically over the last decade.
- The factors which are driving the Electric Bus (EB) demand in Europe are stringent emission regulations, high dependence on conventional or non-renewable fuels, strong environmental ethics, and the growing need to integrate renewables into a network. The penetration of charging infrastructure also plays an important role in market development.
- The electric bus market is growing significantly in Europe. However, there are a few challenges in the market, such as charging a large number of EBs is the potential impact on the grid and on the batteries, simultaneous charging of an EBs fleet could drive to a tremendous high power peak, oversizing of infrastructures, equipment, and grid supply subscription could generate extra costs.
- Major European Electric Bus markets include the United Kingdom, Netherlands, Norway, Luxembourg, and Poland. The United Kingdom and other Central European countries are upgrading their fleet with low or zero-emission buses and retrofitting the old buses with low-emission powertrains, which in turn is projected to intensify the growth of the electric bus market in Europe during the forecast period.
