Europe bus market is anticipated to reach USD 6.92 Billion by 2026, registering a CAGR of 4.70% during the forecast period. Bus is the common mode of public transportation in Europe countries for connecting cities and rural areas. They are also the most cost-effective form of public transport. Most European cities are well-connected by roads and buses making it the best travelling option for the commuters in terms of cost and convenience. Many bus manufacturing companies focus on developing their product portfolio encompassing city buses. For instance, FlixBus accounts for the majority share in Germany bus market.
Increasing share of electric vehicle in the public transportation will help the government to address the problem of increasing green house emission as electric buses are greener alternative, environment friendly; therefore, private fleet owners are turning toward electric buses. Currently, diesel fuel type accounts for the largest share in the market, however, push from the government and launch of electric bus models by automakers are contributing to the increasing share of electric and hybrid fuel type. Besides, according to Techsci Research, electric and hybrid fuel type is projected to account for share of approx. 11% by 2026 end. As per the conducted survey by Techsci Survey, cost followed by brand is the major factor that influences purchaser’s decision. Electric buses are slightly on the higher side when compared with their IC counterparts and high price is crucial decision making factor. After cost, brand image creates major difference in terms of purchase. Mercedes Benz, Iveco, MAN and Volvo are some of the brand that buyers look up to for purchasing bus.
𝐌𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 in the Electric Bus report include:
• Mercedes-Benz AG (Daimler AG)
• IVECO - A CNH Industrial Company
• MAN Truck & Bus SE
• Scania AB
• AB Volvo
• Setra (EvoBus GmbH)
• Temsa Global Sanayi ve Ticaret AS
• Alexander Dennis Limited
• Solaris Bus & Coach sp. z o.o.
• Wrights Group Ltd (Wrightbus)