Europe Electric Bus Market

Industry Overview

The European Electric Bus Market is projected to reach 12,866 units by 2030, registering a CAGR of 33.9% during the forecast period. Government support for electric vehicles, the increasing need to reduce greenhouse gas emissions, and advancements in technology, propelling the growth of the market.

Market Segmentation

Insight by Vehicle Type

Based on vehicle type, the European electric bus market is categorized into battery electric bus (BEB), hybrid electric bus (HEB), and plug-in hybrid electric bus (PHEB), wherein the BEB category accounted for the largest share in 2020. The category is expected to lead throughout the forecast period, owing to the low or zero emission of greenhouse gases, declining battery prices, and improving battery efficiency. The demand for hybrid electric buses is declining as the demand has majorly shifted towards battery electric buses.

Insight by Battery

Based on batteries, the European electric bus market is divided into lithium iron phosphate batteries (LFP), lithium nickel manganese cobalt oxide (NMC), and others. Among these categories, the LFP category accounted for the largest share in 2020. This is primarily due to the increasing traction for the lithium nickel manganese cobalt oxide batteries. The NMC batteries are anticipated to observe an increase of almost 5 times in its share by 2024 when compared to its share in 2018 in the European electric bus market.

Europe Electric Bus Market Report Coverage

Industry Dynamics

Growth Drivers

European electric bus market has been driven by several key factors, predominantly government support for electric vehicles, and the increasing need to reduce greenhouse gas emissions.

Different governments across Europe are taking initiatives to replace the petroleum-based automotive fleet with electric-powered vehicles. Different countries provide incentives and frame regulations to support electric vehicle adoption. In the European Union, governments are undertaking key initiatives to opt for green energy-driven vehicles. The policies related to electric buses in the EU are mainly focused on technological optimization and market development.

For instance, the European Commission supported a Europe-wide electromobility initiative, Green eMotion, worth €41.8 million (USD 46.9 million), in partnership with forty-two partners from industry, utilities, electric vehicle manufacturers, municipalities, universities, and technology and research institutions. The project developed prototypes to connect the islands of electromobility existing at the time of the project start. An overarching ICT architecture was defined and standards, especially for ICT interfaces, were set. New business models for public charging infrastructure were analyzed and ways were shown for its optimized integration into the grid.

Challenges

Key factors hindering the growth of the European electric bus market are the high price of electric buses and the growing popularity of natural gas-fueled buses.

Geographic Overview

Geographically, the U.K. electric bus market accounted for the largest share. This is attributed to the increasing adoption rate of electric vehicles, government support schemes for the adoption of electric vehicles, and for development of infrastructure related to electric vehicles including charging stations.

Competitive Insight

Some of the key players operating in the European electric bus market are Solaris Bus & Coach, VDL Bus & Coach BV, EBUSCO, Bozankaya A.S., Belkommunmash Holding, and Sor Libchavy spoil. s r.o., AB Volvo, Irizar Group, Scania AB, BYD company limited, and Alexander Dennis Limited.

Forecast Parameters

- Identifying variables and establishing market impact.
- Establishing market trends regionally.
- Analyzing opportunities and market penetration rates by understanding product commercialization, and regional expansion.
- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
- Analyzing sustainability strategies adhered to by market participants in an attempt to determine the future course of the market.
- Analyzing historical market trends and super-imposing them on the current and future variables to determine the year-on-year trends.
- Understanding adoption, production, export, import, and regulatory framework.

Data Validation

- Estimated and forecasted data was validated through industry experts.
- Apart from industry experts, data triangulation methods were used for validation.
- The bottom-up and top-down approaches have been used for the estimation and forecast of market data, whereas the top-down approach was used for validation.
- Demand, as well as supply-side surveys, were conducted to understand the industry dynamics and data validation.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising consumers are conducted to understand consumer behavior.

The Hybrid Powertrain Systems Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• Vehicle Type
  • Battery Electric Bus (BEB)
  • Hybrid Electric Bus (HEB)
  • Plug-In Hybrid Electric Bus (PHEB)
• Battery
  • Lithium Iron Phosphate Battery (LFP)
  • Lithium Nickel Manganese Cobalt Oxide (NMC)
  • Others
• Length
  • < 10m
  • > 10m

Geographical Segmentation

Electric Bus Market by Country

• U.K.
• Germany
• France
• Spain
• Netherlands
• Sweden
• Austria
• Poland
• Belgium
• Rest of Europe

Source: VynZ Research

Source: VynZ Research

1. RESEARCH OVERVIEW 

        1.1 Report Offers 
        1.2 Market Coverage 
                1.2.1 Market Estimate and Forecast by Vehicle Type 
                1.2.2 Market Estimate and Forecast by Battery 
                1.2.3 Market Estimate and Forecast by Length 
                1.2.4 Market Estimate and Forecast by Country 
        1.3 Research Phases 
        1.4 Limitations 
        1.5 Market Size Estimation and Forecast 
                1.5.1 Data Sources
                        1.5.1.1 Primary Research 
                        1.5.1.2 Secondary Research 
                1.5.2 Methodology 
                        1.5.2.1 Data Mining & Exploration 
                        1.5.2.2 Forecast Parameters 
                        1.5.2.3 Data Validation 
                        1.5.2.4 Data Triangulation 
                        1.5.2.5 Assumptions 
                1.5.3 Study Period 
                1.5.4 Data Reporting Unit 

2. MARKET DEFINITION 

        2.1 By Vehicle Type 
                2.1.1 Battery Electric Bus (BEB) 
                2.1.2 Hybrid Electric Bus (HEB) 
                2.1.3 Plug-In Hybrid Electric Bus (PHEB) 
        2.2 By Length 
                2.2.1 More Than 10 M 
                2.2.2 Less Than 10 M 
        2.3 By Battery 
                2.3.1 Lithium Iron Phosphate (LFP) Battery 
                2.3.2 Lithium Nickel Manganese Cobalt Oxide (NMC) 
                2.3.3 Others 

3. INDUSTRY OVERVIEW 

        3.1 Industry Dynamics 
                3.1.1 Market Drivers 
                        3.1.1.1 Government Support for Electric Vehicles 
                        3.1.1.2 Advancement in Technology 
                        3.1.1.3 Increasing Need to Reduce Greenhouse Gas Emission 
                3.1.2 Market Restraints 
                        3.1.2.1 High Price of Electric Bus 
                        3.1.2.2 Growing Popularity of Natural Gas Fueled Buses 
                3.1.3 Trend 
                        3.1.3.1 Increasing Product Portfolio of Electric Bus Manufacturers 
                3.1.4 Opportunity 
                        3.1.4.1 Opportunity for Large Range Electric Buses 
        3.2 Industry Ecosystem 
                3.2.1 Regulatory Framework 
                        3.2.1.1 Germany 
                        3.2.1.2 United Kingdom 
                        3.2.1.3 France 
                        3.2.1.4 Spain 
                        3.2.1.5 Poland 
                        3.2.1.6 Belgium 
                3.2.2 Value Chain Analysis 
                3.2.3 Porter’s Five Forces Analysis 
                        3.2.3.1 Bargaining Power of Buyer 
                        3.2.3.2 Bargaining Power of Supplier 
                        3.2.3.3 Intensity of Rivalry 
                        3.2.3.4 Threat of New Entrants 
                        3.2.3.5 Threat of Substitutes 
                3.2.4 Strategic Development Analysis 
        3.3 Competitive Insight 
                3.3.1 Competitive Analysis of Key Players 
                3.3.2 Market Share Analysis of Key Players 
                3.3.3 Pricing Analysis 

4. EUROPE MARKET ESTIMATE AND FORECAST 

        4.1 Europe Market Estimate and Forecast by Vehicle Type 
        4.2 Europe Market Estimate and Forecast by Battery 
        4.3 Europe Market Estimate and Forecast by Length 
        4.4 Europe Market Estimate and Forecast by Country 

5. COMPANY PROFILES 

        5.1 Solaris Bus & Coach 
                5.1.1 Snapshot 
                5.1.2 Overview 
                5.1.3 Offerings 
        5.2 VDL Bus & Coach BV 
                5.2.1 Snapshot
                5.2.2 Overview 
                5.2.3 Offerings 
        5.3 EBUSCO 
                5.3.1 Snapshot 
                5.3.2 Overview 
                5.3.3 Offerings 
        5.4 Bozankaya A.S.
                5.4.1 Snapshot 
                5.4.2 Overview 
                5.4.3 Offerings 
        5.5 Belkommunmash Holding 
                5.5.1 Snapshot 
                5.5.2 Overview 
                5.5.3 Offerings 
        5.6 SOR Libchavy spol. s r.o. 
                5.6.1 Snapshot 
                5.6.2 Overview 
                5.6.3 Offerings 
        5.7 AB Volvo 
                5.7.1 Snapshot 
                5.7.2 Overview 
                5.7.3 Offerings 
                5.7.4 Financial Insights 
        5.8 Irizar Group 
                5.8.1 Snapshot 
                5.8.2 Overview 
                5.8.3 Offerings 
        5.9 Scania AB 
                5.9.1 Snapshot 
                5.9.2 Overview 
                5.9.3 Offerings 
                5.9.4 Financial Insights 
        5.10 BYD Company Limited 
                5.10.1 Snapshot 
                5.10.2 Overview 
                5.10.3 Offerings 
                5.10.4 Financial Insights 
        5.11 Alexander Dennis Limited 
                5.11.1 Snapshot 
                5.11.2 Overview 
                5.11.3 Offerings

LIST OF TABLES 

TABLE 1 SOURCES 
TABLE 2 ELECTRIC BUS COMPONENT PRICE 2021 
TABLE 3 COMPETITIVE ANALYSIS 
TABLE 4 AVERAGE PRICES OF DIFFERENT ELECTRIC BUS MANUFACTURERS FOR 12 M ELECTRIC BUS 
TABLE 5 EUROPE ELECTRIC BUS MARKET SIZE, BY VEHICLE TYPE, UNITS (2018 – 2023) 
TABLE 6 EUROPETable 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Europe Electric Bus Market Size, by Vehicle Type, 2018 – 2023 (USD Billion)
Table 5 Global Europe Electric Bus Market Size, by Vehicle Type, 2025 – 2030 (USD Billion)
Table 6 Global Europe Electric Bus Market Size, by Battery, 2018 – 2023 (USD Billion)
Table 7 Global Europe Electric Bus Market Size, by Battery, 2025 – 2030 (USD Billion)
Table 10 Global Europe Electric Bus Market Size, by Region, 2018 – 2023 (USD Billion)
Table 11 Global Europe Electric Bus Market Size, by Region, 2025 – 2030 (USD Billion)
Table 12 North America Europe Electric Bus MarketSize, by Vehicle Type, 2018 – 2023 (USD Billion)
Table 13 North America Europe Electric Bus Market Size, by Vehicle Type, 2025 – 2030 (USD Billion)
Table 14 North America Europe Electric Bus Market Size, by Battery, 2015–2019 (USD Mn)
Table 15 North America Europe Electric Bus Market Size, by Battery, 2020–2025 (USD Mn)
Table 18 North America Europe Electric Bus Market Size, by Country, 2018 – 2023 (USD Billion)
Table 19 North America Europe Electric Bus Market Size, by Country, 2025 – 2030 (USD Billion)
Table 20 Europe Europe Electric Bus Market Size, by Vehicle Type, 2018 – 2023 (USD Billion)
Table 21 Europe Europe Electric Bus Market Size, by Vehicle Type, 2025 – 2030 (USD Billion)
Table 22 Europe Europe Electric Bus Market Size, by Battery, 2018 – 2023 (USD Billion)
Table 23 Europe Europe Electric Bus Market Size, by Battery, 2025 – 2030 (USD Billion)
Table 26 Europe Europe Electric Bus Market Size, by Country, 2018 – 2023 (USD Billion)
Table 27 Europe Europe Electric Bus Market Size, by Country, 2025 – 2030 (USD Billion)
Table 28 Asia-Pacific Europe Electric Bus Market Size, by Vehicle Type, 2018 – 2023 (USD Billion)
Table 29 Asia-Pacific Europe Electric Bus Market Size, by Vehicle Type, 2025 – 2030 (USD Billion)
Table 30 Asia-Pacific Europe Electric Bus Market Size, by Battery, 2015–19 (USD Billion)
Table 31 Asia-Pacific Europe Electric Bus Market Size, by Battery, 2020–25 (USD Billion)
Table 34 Asia-Pacific Europe Electric Bus Market Size, by Country, 2018 – 2023 (USD Billion)
Table 35 Asia-Pacific Europe Electric Bus Market Size, by Country, 2025 – 2030 (USD Billion)
Table 36 RoW Europe Electric Bus Market Size, by Vehicle Type, 2018 – 2023 (USD Billion)
Table 37 RoW Europe Electric Bus Market Size by Vehicle Type, 2025 – 2030 (USD Billion)
Table 38 RoW Europe Electric Bus Market Size, by Battery, 2018 – 2023 (USD Billion)
Table 39 RoW Europe Electric Bus Market Size, by Battery, 2025 – 2030 (USD Billion)
Table 42 RoW Europe Electric Bus Market Size, by Country, 2018 – 2023 (USD Billion)
Table 43 RoW Europe Electric Bus Market Size, by Country, 2025 – 2030 (USD Billion)
Table 44 Snapshot – Solaris Bus & Coach
Table 45 Snapshot – VDL Bus & Coach BV
Table 46 Snapshot – EBUSCO
Table 47 Snapshot – Bozankaya A.S.
Table 48 Snapshot – Belkommunmash Holding
Table 49 Snapshot – Sor Libchavy spol. s r.o.
Table 50 Snapshot – AB Volvo
Table 51 Snapshot – Irizar Group
Table 52 Snapshot – Scania AB
Table 53 Snapshot – BYD Company Limited
Table 54 Snapshot – Alexander Dennis Limited

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9  Global Europe Electric Bus Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Europe Electric Bus Market Highlight
Figure 12 Global Europe Electric Bus Market Size,  by Vehicle Type, 2018 – 2030 (USD Billion)
Figure 13 Global Europe Electric Bus Market Size, by Battery 2018 – 2030 (USD Billion)
Figure 15 Global Europe Electric Bus Market Size, by Region, 2018 – 2030 (USD Billion)
Figure 16 North America Europe Electric Bus Market Highlight
Figure 17 North America Europe Electric Bus Market Size,  by Vehicle Type, 2018 – 2030 (USD Billion)
Figure 18 North America Europe Electric Bus Market Size, by Battery 2015–2025 (USD Billion)
Figure 20 North America Europe Electric Bus Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 21 Europe Europe Electric Bus Market Highlight
Figure 22 Europe Europe Electric Bus Market Size,  by Vehicle Type, 2018 – 2030 (USD Billion)
Figure 23 Europe Europe Electric Bus Market Size, by Battery 2018 – 2030 (USD Billion)
Figure 25 Europe Europe Electric Bus Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 26 Asia-Pacific Europe Electric Bus Market Highlight
Figure 27 Asia-Pacific Europe Electric Bus Market Size,  by Vehicle Type, 2018 – 2030 (USD Billion)
Figure 28 Asia-Pacific Europe Electric Bus Market Size, by Battery 2018 – 2030 (USD Billion)
Figure 30 Asia-Pacific Europe Electric Bus Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 31 RoW Europe Electric Bus Market Highlight
Figure 32 RoW Europe Electric Bus Market Size,  by Vehicle Type, 2018 – 2030 (USD Billion)
Figure 33 RoW Europe Electric Bus Market Size, by Battery 2018 – 2030 (USD Billion)
Figure 35 RoW Europe Electric Bus Market Size, by Country, 2018 – 2030 (USD Billion)