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The latest report by IMARC Group, titled “Europe Electric Bus Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, provides a deep insight into the europe electric bus market.
Electric buses are a type of electric vehicle that operate using zero-emission electricity sources, such as hydrogen fuel cells, overhead wires, or onboard batteries. They can be charged through various methods, including regenerative braking, off-board chargers, storage battery banks, and solar panels. Electric buses are equipped with components such as a velocity control unit, mono inverter, battery management system, power steering alternator, air compressor, air conditioning and heating system, and traction motor cooling system, among others. They work by transmitting a signal to the powertrain system controller, which powers the high-voltage battery and converts stored chemical energy into electrical energy. Due to their eco-friendliness, affordability, and low maintenance costs, electric buses are gaining popularity over traditional buses throughout Europe.
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 ecofriendly 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.
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Market Summary:
Breakup By Propulsion Type:
• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
Breakup By Range:
• Less than 200 Miles
• More than 200 Miles
Breakup By Battery Capacity:
• Up to 400 kWh
• Above 400 kWh
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
On account of the aforementioned factors, the market is anticipated to witness strong growth during 2023-2028.
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