Europe Electric Bus Market Size & Outlook, 2023-2030

The electric bus market in Europe is expected to reach a projected revenue of US$ 12,518.9 million by 2030. A compound annual growth rate of 24.5% is expected of Europe electric bus market from 2024 to 2030.
Revenue, 2023 (US$M)
$2,706.3
Forecast, 2030 (US$M)
$12,518.9
CAGR, 2024 - 2030
24.5%
Report Coverage
Europe

Europe electric bus market highlights

  • The Europe electric bus market generated a revenue of USD 2,706.3 million in 2023.
  • The market is expected to grow at a CAGR of 24.5% from 2024 to 2030.
  • In terms of segment, lithium iron phosphate was the largest revenue generating battery type in 2023.
  • Lithium Nickel Manganese Cobalt Oxide is the most lucrative battery type segment registering the fastest growth during the forecast period.
  • Country-wise, France is expected to register the highest CAGR from 2024 to 2030.

Europe data book summary

Market revenue in 2023USD 2,706.3 million
Market revenue in 2030USD 12,518.9 million
Growth rate24.5% (CAGR from 2023 to 2030)
Largest segmentLithium iron phosphate
Fastest growing segmentLithium Nickel Manganese Cobalt Oxide
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationLithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate
Key market players worldwideBYD Co Ltd ADR, Volvo AB ADR, Volkswagen AG, Nissan Motor Co Ltd, Daimler Truck Holding AG ADR, Hyundai Motor Co, Ashok Leyland, Zhengzhou Yutong Bus, Tata Motors, Proterra

Other key industry trends

  • In terms of revenue, Europe region accounted for 8.1% of the global electric bus market in 2023.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
  • North America is the fastest growing regional market and is projected to reach USD 28,416.3 million by 2030.

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Electric Bus Market Companies

Name Profile # Employees HQ Website

Europe electric bus market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric bus market will help companies and investors design strategic landscapes.


Lithium iron phosphate was the largest segment with a revenue share of 94.32% in 2023. Horizon Databook has segmented the Europe electric bus market based on lithium nickel manganese cobalt oxide, lithium iron phosphate covering the revenue growth of each sub-segment from 2018 to 2030.


  • Europe Electric Bus Battery type Outlook (Revenue, USD Million, 2018-2030)
    • Lithium Nickel Manganese Cobalt Oxide
    • Lithium Iron Phosphate

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  • Our clientele includes a mix of electric bus market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe electric bus market , including forecasts for subscribers. This continent databook contains high-level insights into Europe electric bus market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Europe electric bus market size, by country, 2018-2030 (US$M)

Europe Electric Bus Market Outlook Share, 2023 & 2030 (US$M)

Europe electric bus market size, by country, 2018-2030 (US$M)

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