Europe Bus Market, By Length (6-8m, 8-10m, 10-12m & Above 12m), By Seating Capacity (Up to 30, 31-40, 41-50 & Above 50 Seats), By Application (Intercity, Intracity, School Buses / Others), By Fuel Type (Diesel, Petrol / Gasoline, Electric & Hybrid, Fuel Cell and Alternative Fuels), By Body Type (Fully Built Vs. Customizable Body), By Country, Competition Forecast & Opportunities, 2026
Europe bus market was valued around USD4.81 billion in 2020 and is forecast to grow at a CAGR of 4.70% in the next five years to reach USD 6.92 billion by 2026. The increasing middle group of population catching up with the strong pace of growth in the service sector is forecast to drive the sales in the European countries over the coming years. Meanwhile, the deployment of electric buses in municipal environment of European countries has dramatically increased in the past few years. In European countries, the government is very much concerned about the environment, promoting private fleet owners and public transport departments to acquire battery electric vehicles, plug-in hybrid electric vehicles, hybrid electric vehicles, fuel cell electric vehicles, and other alternate fuel powered vehicles. These vehicles are environment friendly and lead to lower running cost, such as the reduction of energy and ownership cost; hence most of the charter bus running companies are rapidly adopting these electric vehicles. All the above factors can open the door to economic growth and lead to the growth of Europe Bus Market.
One of the major trends witnessed in the Europe Bus Market is the adoption of electric bus in the fleet. Electric buses are the only buses which are classified as zero emission vehicle (ZEV). A ZEV, which runs on battery-fitted electric motor, does not use any alternate fuel and does not emit CO2. Thus, governments all over Europe are introducing subsidies for electric vehicles, owing to rising concerns regarding constantly increasing pollution. Growing demand for electric buses is being witnessed in different countries of Europe including the United Kingdom, the Netherlands, Switzerland, Poland and Germany. In order to accelerate the deployment of electric buses, governments in countries like France, Germany, Italy and the UK are coming up with policies and frameworks to promote vehicles with reduced environmental impact and energy consumption. Moreover, rising awareness among customers towards safer environment and large acceptance of electric buses by public-transit operators is further driving the electric bus market in Europe.
Europe Bus Market is segmented based on application type, fuel type, length, body type, seating capacity and country. Based on application type, the market is segmented into inter-city bus, intra-city bus, and school buses/others. The intercity transportation buses come with seating capacity of more than 41 seats and length of above 12 meters and hence, the above mentioned segments are gaining popularity among the European countries. Based on fuel type, the market is segmented into diesel, petrol/gasoline, electric & hybrid, fuel cell and alternative fuels. Based on body type, the market is segmented into fully built and customizable built body. By country, the market is segmented into Germany, France, United Kingdom, Nordic Countries, Italy, Spain, Switzerland, Netherlands and Portugal. In 2020, Germany accounted for the largest share in Europe Bus Market with 19.14% share and is anticipated to help in the market growth in the forecast period also.
Mercedes-Benz AG, Iveco Bus, MAN SE, AB Volvo, EvoBus GmbH, etc., are some of the major leading players currently operating in the Europe Bus Market. Apart from these companies, other bus manufacturers are raising their brand awareness, price schemes and product portfolio in the region to gain customer base. Major companies in the Europe Bus Market are also concentrating on broadening their dealer and distributor network and their reach to governments and municipal communities to capture a bigger share in the region’s bus market.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
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