Europe Bus Market Research Study: Market Dynamics and Competitive Landscape 2026

MANHATTAN, N.Y. - June 7, 2023 - PRLog -- According to a recent report by TechSci Research, the Europe bus market had a value of approximately USD 4.81 billion in 2020. It is projected to grow at a compound annual growth rate (CAGR) of 4.70% over the next five years, reaching a market value of USD 6.92 billion by 2026. The market's growth is primarily attributed to the increased utilization of buses in the service sector and the growing population of middle-income commuters in Europe.

The deployment of electric buses in municipal environments across European countries has witnessed significant growth in recent years. The European governments' strong emphasis on environmental concerns has led to support for private fleet owners and public transport departments in adopting electric vehicles, including battery electric vehicles, plug-in hybrid electric vehicles, hybrid electric vehicles, fuel cell electric vehicles, and other alternative fuel-powered vehicles. These vehicles are not only more environmentally friendly but also offer lower operating and ownership costs, making them an attractive choice for charter bus companies.

Many European countries have joined forces with private enterprises and invested substantial funds in improving road transportation facilities, reflecting their commitment to enhancing infrastructure development and road networks. For instance, in 2016, there were 11 greenfield public-private partnership transactions for public transportation in Europe, with a combined value of USD 4.32 billion. This emphasis on infrastructure development and better road networks is expected to contribute to the growth of public transport facilities in Europe.

Seating capacity classification includes buses with capacities up to 30 seats, 31-40 seats, 41-50 seats, and above 50 seats. Longer buses with a seating capacity of 41-50 units and above 50 units are predominantly used for intercity travel, which constitutes a significant portion of the market. Bus length is categorized as 6-8 meters, 8-10 meters, 10-12 meters, and above 12 meters.

In terms of country, the market is segmented into Germany, France, United Kingdom, Nordic Countries, Italy, Spain, Switzerland, the Netherlands, and Portugal. The Nordic countries, including Denmark, Finland, Iceland, Norway, Sweden, the Faroe Islands, and Greenland, are an important part of the region.

Mercedes-Benz AG, Iveco Bus, MAN SE, AB Volvo, and EvoBus GmbH are some of the leading players in the Europe bus market.

Browse more than 87 market data Figures and 9 data Tables spread through 149 Pages and an in-depth TOC on "Europe Bus Market "

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