The latest research study “Europe Electric Bus Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Europe electric bus market is expected to exhibit a CAGR of 18.60% during 2022-2027.
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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.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Europe Electric Bus Market Trends and Drivers:
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.
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Europe Electric Bus Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, propulsion type, battery type, length, range and battery capacity.
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)
Market 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
Market Breakup by Country:
- United Kingdom
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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