Market Overview
The United Kingdom electric bus market size witnessed significant growth in the past and is expected to grow at a CAGR of around 13.81% during the forecast period (2023-2030).
E-buses are battery-powered. They're cheaper than gas/diesel buses. Demand for fuel-efficient, high-performance, low-emission buses, government vehicle emission restrictions, and lowering battery prices drive the electric bus market.
Manufacturing costs, fuel economy, and serviceability limit market growth. Technology and strong government regulations to promote bus use give significant potential. Gasoline will run out. Use sustainable fuels. Electric buses are cheaper than gas-powered ones. These factors demand fuel-efficient technology and electric buses.
Highlights
- BEV dominates the market by propulsion type.
- Battery dominates the market by component.
- Fleet operator dominates the market by consumer segment.
- 9-14m dominates the market by the length of the bus.
- Intracity dominates the market by application.
- Less than 200 miles dominates the market by vehicle range.
- Up to 400 kWh dominates the market by battery capacity.
- Up to 250kw dominates the market by power output.
- Lithium-nickel-phosphate dominates the market by battery type.
Market Dynamics
The United Kingdom Electric Bus Market Drivers
Government Regulations
The UK government has lofty greenhouse gas emissions and air quality targets. The government has launched several programs to promote electric bus use. In 2019, the UK government announced a £48 million ULEB Scheme investment to finance 263 new electric buses in England. Using this support, bus operators upgraded their fleets and increased UK electric bus numbers.
The United Kingdom Electric Bus Market Restraints
High Cost
Electric buses cost more than diesel buses. Electric buses are more expensive, which can limit bus operators' finances. OLEV incentive schemes, which help bus companies buy electric buses. The Ultra-Low Emission Bus Scheme and Zero Emission Bus Regional Areas Scheme are OLEV incentives. These funds assist bus operators in affording electric buses' higher initial expenses.
The United Kingdom Electric Bus Market Opportunities
Technological Advancement
Electric bus technology is advancing rapidly.UK bus companies use the BYD ADL Enviro400EV. In 2019, London's largest bus operator, Go-Ahead London, debuted 37 BYD ADL Enviro400EV electric buses. Central London buses provide clean, quiet transit. Technology has increased UK electric bus uptake, according to LowCVP data. According to their research, UK electric bus registrations surged 164% in 2020. Electric bus models with longer battery ranges and faster charging have contributed to this growth.
Segmental Analysis
The United Kingdom Electric Bus market is segmented based on propulsion type, component, consumer segment, bus length, application, vehicle range, battery capacity, power input, battery type, and country.
Propulsion Type further segments the market into BEV, PHEV, and FCEV.
BEV segment dominates the market and is expected to grow at a CAGR of 13.87% during the forecast period.
Component further segments the market into Motor, Battery, Fuel Cell Stack, Battery Management System, Battery Cooling System, and E.V. Connectors.
Battery dominated the market and is expected to register a CAGR of 14.24% over the forecast period.
Consumer Segment further segments the market into Fleet Operators, Government.
The Fleet Operator segment dominates the market and is expected to grow at a CAGR of 13.54% during the forecast period.
The market is further segmented by Length Of The Bus into Less Than 9m, 9-14m, and Above 14m.
The 9-14m segment dominates the market and is expected to grow at a CAGR of 13.96% during the forecast period.
The market is further segmented by application into Intercity, Intracity.
Intracity dominated the market and is expected to register a CAGR of 13.97% over the forecast period.
The market is further segmented by Vehicle Range into Less Than 200 Miles, Above Miles.
The less than 200 miles segment dominates the market and is expected to grow at a CAGR of 13.60% during the forecast period.
Battery Capacity further segments the market into up to 400kwh and above 400kwh.
The up to 400 kWh segment dominates the market and is expected to grow at a CAGR of 13.28% during the forecast period.
The market is further segmented by Power Input into Up to 250kw, Above 250kw.
Up to 250kw dominated the market and is expected to register a CAGR of 14.01% over the forecast period.
The market is further segmented by Battery type into Lithium-Nickel-Manganese-Cobalt-Oxide, Lithium-Iron-Phosphate.
The lithium-Iron-Phosphate segment dominates the market and is expected to grow at a CAGR of 14.00% during the forecast period.
