IMARC Group, a leading market research company, has recently releases report titled “Europe Electric Bus Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Europe electric bus market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Europe Electric Bus Market?

The Europe electric bus market size is expected to exhibit a growth rate (CAGR) of 16.4% during 2023-2028. 

Electric buses are electric vehicles (EVs) that are powered by zero-emissions electricity sources, including hydrogen fuel cells, overhead wires, and onboard batteries. They can be recharged through regenerative braking, off-board chargers, storage battery banks, and solar panels. It consists of velocity control (VCU), mono inverter, battery management system (BMS), power steering alternator, air compressor, air conditioner (A/c) heater pump (HP), braking resistor, high voltage (HV) connections, HV cables routing, traction motor cooling system, onboard, and off-board charger. They operate by sending a signal to the powertrain system controller, which powers the high-voltage battery and transforms stored chemical energy into electrical energy. As they are eco-friendly, affordable, and have low maintenance costs, electric buses are gaining traction over conventional buses across Europe.

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What are the growth prospects and trends in the Europe electric bus industry?

The market is primarily driven by the rising awareness regarding the effects of air pollution on the environment and human health. In addition, the surging need for electrified transit systems and eco-friendly alternatives to internal combustion engine (ICE) buses due to the inflating costs of fossil fuels is contributing to the market growth.

Moreover, the European government is implementing intense emissions policies to help cities and communities with electric buses as a zero-emission solution to meet environmental objectives without compromising transportation infrastructure, which acts as another major growth-inducing factor.

Furthermore, various innovations by key market players, including the launch of new, autonomous pantograph chargers that allow faster charging, are also creating a positive market outlook.

Other factors, including the growing population, rising urbanization, and increasing adoption of electric buses in educational institutions, are accelerating the product adoption rate across the region.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup By Propulsion Type:

·  Battery Electric Vehicle (BEV)

·  Fuel Cell Electric Vehicle (FCEV)

·  Plug-in Hybrid Electric Vehicle (PHEV)

Breakup By Battery Type:

·  Lithium-ion Battery

·  Nickel-Metal Hydride Battery (NiMH)

·  Others

Breakup By Length:

·  Less than 9 Meters

·  9-14 Meters

·  Above 14 Meters

Breakup By Range:

·  Less than 200 Miles

·  More than 200 Miles

Breakup By Battery Capacity:

·  Up to 400 kWh

·  Above 400 kWh

Breakup by Country:

·  Germany

·  France

·  United Kingdom

·  Italy

·  Spain

·  Others

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