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Europe Electric Bus Battery Pack Market Size

The European electric bus battery pack market is experiencing significant growth, driven by the increasing adoption of electric vehicles and advancements in battery technology. The market's expansion is supported by government incentives and regulations aimed at reducing CO2 emissions, as well as the declining costs of battery packs. Technological innovations, such as solid-state batteries, are expected to further enhance market potential by offering higher energy density and improved safety. Germany and France are leading in market growth due to strong government support and consumer demand, while Italy, despite slower growth, is also witnessing an upward trend. The market's future is promising, with continued advancements and opportunities for sustainable mobility.

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Market Size of europe electric bus battery pack Industry

Europe Electric Bus Battery Pack Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 300.9 Million
svg icon Market Size (2029) USD 483.6 Million
svg icon Largest Share by Propulsion Type BEV
svg icon CAGR (2024 - 2029) 9.95 %
svg icon Largest Share by Country Poland
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Europe Electric Bus Battery Pack Market Analysis

The Europe Electric Bus Battery Pack Market size is estimated at 300.9 million USD in 2024, and is expected to reach 483.6 million USD by 2029, growing at a CAGR of 9.95% during the forecast period (2024-2029).

300.9 Million

Market Size in 2024 (USD)

483.6 Million

Market Size in 2029 (USD)

-9.29 %

CAGR (2017-2023)

9.95 %

CAGR (2024-2029)

Largest Segment by Propulsion Type

100 %

value share, BEV, 2023

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BEVs offer zero-emission transportation, contributing to the region's sustainability goals and improving air quality in urban areas.

Largest Segment by Battery Chemistry

45.15 %

value share, NCM, 2023

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NCM batteries are the most popular type of batteries in electric buses because of their fast charging, high energy density, and low weight.

Largest Segment by Battery Form

59.49 %

value share, Pouch, 2023

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The pouch battery, which offers flexibility and effective space utilisation for improved performance and range, leads the market for electric car battery packs in Europe.

Leading Market Player

12.22 %

market share, BYD Company Ltd., 2022

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The company has battery plants in Europe, Asia, and the United States. BYD's batteries are used in a variety of electric buses, including the BYD K9 and the BYD E6.

Largest Segment by Capacity

60.60 %

value share, 40 kWh to 80 kWh, 2023

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This range is prevalent, ensuring ample power for long-distance operations and facilitating the adoption of sustainable public transportation solutions across the region.

Europe's EV adoption driving growth in the electric bus market, fueled by government incentives and advancing battery technologies

  • The adoption of EVs in Europe increased significantly from 2017 to 2020, with new registrations reaching 1.4 million in 2020, representing a 137% increase compared to 2017. The European electric bus market is also experiencing growth, with a CAGR of 28.7% predicted from 2020 to 2027. This growth is expected to be driven by government incentives and regulations, such as the European Union's target to reduce CO2 emissions by 55% by 2030, as well as advancements in battery technologies.
  • The demand for battery packs in BEBs is growing, with increasing battery density and range and declining battery costs. Battery costs have decreased significantly in recent years, in line with the average cost of lithium-ion batteries for electric vehicles declining by 89% from 2010 to 2020. It is expected that battery costs will continue to decline, reaching USD 58/kWh by 2030. Additionally, solid-state batteries offer even higher energy density, faster charging, and improved safety. Such technological advancements are expected to boost the market further.
  • The future of the European electric bus battery pack market is promising, with continued technological advancements and new opportunities for growth. For instance, battery electric buses are predicted to save over 900 million liters of diesel annually in Europe by 2030. The integration of battery storage systems with renewable energy sources, such as solar and wind, is a recent trend that has created "smart grids" capable of balancing energy supply and demand. The development of solid-state batteries and the exploration of new battery chemistries offer exciting opportunities for the battery pack industry in the European electric bus market.
Europe Electric Bus Battery Pack Market

Germany leads the market with a significant value increase, supported by government support and the automotive industry

  • The European electric bus battery pack market is a dynamic and growing market. The market is expected to continue to grow in the coming years, driven by the increasing adoption of EVs and the declining cost of battery packs. In addition to the factors mentioned above, several other factors are expected to drive the growth of the European electric vehicle battery pack market in the coming years.
  • Germany stands out as a leading player in the market, with a remarkable increase in value over the years. This growth can be attributed to various factors, such as government support for electric vehicles, rising consumer demand for EVs, and advancements in battery technology. Germany's robust automotive industry, combined with substantial investments by major automakers in electric vehicle production, has significantly contributed to the surge in demand for battery packs.
  • France, another prominent European country, has witnessed notable growth in the battery pack market. France's commitment to promoting the adoption of electric vehicles through favorable policies and incentives has played a significant role in driving the growth of the battery pack market. Italy, exhibiting slower growth compared to Germany and France, has still experienced an upward trend in the battery pack market. Factors such as increasing consumer awareness of electric vehicles, government incentives, and technological advancements have contributed to the market's growth in Italy. As the demand for electric vehicles continues to rise, battery packs are expected to play a crucial role in supporting the transition toward sustainable mobility in Italy.

Europe Electric Bus Battery Pack Industry Segmentation

BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type. France, Germany, Hungary, Italy, Poland, Sweden, UK, Rest-of-Europe are covered as segments by Country.

  • The adoption of EVs in Europe increased significantly from 2017 to 2020, with new registrations reaching 1.4 million in 2020, representing a 137% increase compared to 2017. The European electric bus market is also experiencing growth, with a CAGR of 28.7% predicted from 2020 to 2027. This growth is expected to be driven by government incentives and regulations, such as the European Union's target to reduce CO2 emissions by 55% by 2030, as well as advancements in battery technologies.
  • The demand for battery packs in BEBs is growing, with increasing battery density and range and declining battery costs. Battery costs have decreased significantly in recent years, in line with the average cost of lithium-ion batteries for electric vehicles declining by 89% from 2010 to 2020. It is expected that battery costs will continue to decline, reaching USD 58/kWh by 2030. Additionally, solid-state batteries offer even higher energy density, faster charging, and improved safety. Such technological advancements are expected to boost the market further.
  • The future of the European electric bus battery pack market is promising, with continued technological advancements and new opportunities for growth. For instance, battery electric buses are predicted to save over 900 million liters of diesel annually in Europe by 2030. The integration of battery storage systems with renewable energy sources, such as solar and wind, is a recent trend that has created "smart grids" capable of balancing energy supply and demand. The development of solid-state batteries and the exploration of new battery chemistries offer exciting opportunities for the battery pack industry in the European electric bus market.
Propulsion Type
BEV
PHEV
Battery Chemistry
LFP
NCA
NCM
NMC
Others
Capacity
15 kWh to 40 kWh
40 kWh to 80 kWh
Above 80 kWh
Less than 15 kWh
Battery Form
Cylindrical
Pouch
Prismatic
Method
Laser
Wire
Component
Anode
Cathode
Electrolyte
Separator
Material Type
Cobalt
Lithium
Manganese
Natural Graphite
Nickel
Other Materials
Country
France
Germany
Hungary
Italy
Poland
Sweden
UK
Rest-of-Europe
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Europe Electric Bus Battery Pack Market Size Summary

The European electric bus battery pack market is poised for significant growth, driven by the increasing adoption of electric vehicles and advancements in battery technology. The market is expected to expand substantially over the forecast period, supported by government incentives and regulations aimed at reducing carbon emissions. The decline in battery costs, coupled with improvements in battery density and range, is further propelling market growth. Technological advancements, such as the development of solid-state batteries, are anticipated to enhance energy density, charging speed, and safety, offering new opportunities for the industry. The integration of battery storage systems with renewable energy sources is also emerging as a trend, contributing to the creation of smart grids that balance energy supply and demand.

Germany and France are leading the charge in the European electric bus battery pack market, with substantial government support and consumer demand driving growth. Germany's robust automotive industry and significant investments by major automakers have bolstered demand for battery packs. France's favorable policies and incentives have similarly supported market expansion. While Italy's growth is slower, it still reflects an upward trend due to increased consumer awareness and government incentives. The market is dominated by major players, with companies like Akasol AG, BYD Company Ltd., and Contemporary Amperex Technology Co. Ltd. holding significant shares. The demand for electric vehicles, particularly SUVs, is rising across Europe, with models like the Tesla Model Y and Renault Arkana gaining popularity. The market's consolidation is evident, with the top companies accounting for a substantial portion of the market share, indicating a competitive landscape with ongoing innovations and strategic partnerships.

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Europe Electric Bus Battery Pack Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Propulsion Type

      1. 1.1.1 BEV

      2. 1.1.2 PHEV

    2. 1.2 Battery Chemistry

      1. 1.2.1 LFP

      2. 1.2.2 NCA

      3. 1.2.3 NCM

      4. 1.2.4 NMC

      5. 1.2.5 Others

    3. 1.3 Capacity

      1. 1.3.1 15 kWh to 40 kWh

      2. 1.3.2 40 kWh to 80 kWh

      3. 1.3.3 Above 80 kWh

      4. 1.3.4 Less than 15 kWh

    4. 1.4 Battery Form

      1. 1.4.1 Cylindrical

      2. 1.4.2 Pouch

      3. 1.4.3 Prismatic

    5. 1.5 Method

      1. 1.5.1 Laser

      2. 1.5.2 Wire

    6. 1.6 Component

      1. 1.6.1 Anode

      2. 1.6.2 Cathode

      3. 1.6.3 Electrolyte

      4. 1.6.4 Separator

    7. 1.7 Material Type

      1. 1.7.1 Cobalt

      2. 1.7.2 Lithium

      3. 1.7.3 Manganese

      4. 1.7.4 Natural Graphite

      5. 1.7.5 Nickel

      6. 1.7.6 Other Materials

    8. 1.8 Country

      1. 1.8.1 France

      2. 1.8.2 Germany

      3. 1.8.3 Hungary

      4. 1.8.4 Italy

      5. 1.8.5 Poland

      6. 1.8.6 Sweden

      7. 1.8.7 UK

      8. 1.8.8 Rest-of-Europe

Europe Electric Bus Battery Pack Market Size FAQs

The Europe Electric Bus Battery Pack Market size is expected to reach USD 300.93 million in 2024 and grow at a CAGR of 9.95% to reach USD 483.59 million by 2029.

In 2024, the Europe Electric Bus Battery Pack Market size is expected to reach USD 300.93 million.

Europe Electric Bus Battery Pack Market Report Snapshots

Europe Electric Bus Battery Pack Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029