Automotive and Transportation Europe Electric Bus Market Analysis and Forecast | Page 3

Europe Electric Bus Market
As per the current scenario, the number of circulation of such buses in Europe is relatively smaller than APAC
and North America. Government subsidies, urban air quality targets and the availability of debt funding are
some of the key factors bolstering the demand of electrically operated buses in Europe.
According to an analysis done by Union Internationale des Transports Publics (UITP), approximately 50% of the
buses sold in Europe are operating according to the Euro 3 standard or older. To reduce carbon foot prints in the
region, European emission standards has been introduced that required all the buses shipped in the region have
to meet the Euro 6 emissions standards. Stringent regulations pertaining to energy conservation and carbon
footprint reduction are also playing a significant role in market growth.
According to European Environmental Agency report, ‘Air Quality Europe’, presented in 2013, the level of air
pollution in Europe is above the accepted level. Except Dublin, most of the cities in every European country,
surpassed the Europe’s NOx target. To control air pollution and greenhouse gas emissions, diesel fleets across
the region are being replaced by electric models. As compared to 2015, a larger number of such buses were sold
in the region in 2016. This revolution is part of a comprehensive industrial heave towards these buses. Based on
our study, the shipment of such buses in the region is projected to grow at CAGR of 41.7%, during the forecast
period.
P&S Intelligence