Europe Electric Bus Market Size, Share, Analysis and Forecast by 2024

The European electric bus market is projected to reach USD 11,866 Units by 2024, registering a CAGR of 32.9% during the forecast period. Government support for electric vehicles, increasing the need to reduce greenhouse gas emission, and advancement in technology, propelling the growth of the market.

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Different governments across Europe are taking initiatives to replace the petroleum-based automotive fleet with electric-powered vehicles. Different countries provide incentives and frame regulations to support the adoption of the electric vehicle.

For instance, the European Commission supported a Europe-wide electromobility initiative, Green eMotion, worth €41.8 million (USD 46.9 million), in partnership with forty-two partners from industry, utilities, electric vehicle manufacturers, municipalities, universities and technology and research institutions.

Some of the key players operating in the European electric bus market are Solaris Bus & Coach, VDL Bus & Coach BV, EBUSCO, Bozankaya A.S., Belkommunmash Holding, Sor Libchavy spol. s r.o., AB Volvo, Irizar Group, Scania AB, BYD company limited, and Alexander Dennis Limited.

Source: VynZ Research