A new market research report by Future Market Insights on the Trolley Bus market includes a European industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the Europe trolley bus market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the Europe trolley bus market is projected to experience moderate growth over the forecast period, on grounds of rising adoption of electric buses, and buses driven by alternative fuels, including hydrogen fuel batteries.
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The Europe Trolley Bus market is anticipated to be valued at ~US$ 650 Mn in 2019, increasing at a CAGR of ~3% during the forecast period of 2019-2029. The growth is prominently driven by the escalating demand for vehicles emitting minimal greenhouse gases, realizing mounting environmental concerns.
The ongoing ‘zero-emission’ movement across the European countries has compelled manufacturers to redefine their innovation and development strategies. As identified by the FMI analysis, stakeholders in the Europe trolley bus market are constantly leveraging cutting-edge technologies, in an attempt to offer environmentally as well as operationally efficient trolley buses.
Italy is Set to Exhibit Significant Market Opportunity Over the Stipulated Time Period
Italy accounts for a noteworthy share in the European trolley bus market, owing to the presence of reliable infrastructure for electric buses. Furthermore, leading manufacturers such as Van Hool, are entering into agreements with local transport ministry to launch trolley buses for local commute transportation. France and Greece are expected to lead Italy, in the view of supportive government policies, which are projected to flourish the sales for trolley buses over the coming years.
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Manufacturers Inclined Towards the Production of Dual Fuel Trolley Bus
The European market of trolley buses has been studied based on various types considering the countries, including Russia, Germany, U.K., Italy, Spain, France, Greece, Nordic, BENELUX, Ukraine, Romania, and Rest of Europe.
Europe Trolley Bus Market: Vendor Insights
The report highlights some of the market players in the CAF, Construcciones y Auxiliar de Ferrocarriles, S.A., OJSC “Holding Managing Company “Belkommunmash”, ŠKODA Transportation a.s., Kiepe Electric GmbH, Carrosserie Hess AG, Bohdan Motors JSC, Astra Bus SRL, Iveco S.p.A, Vanhool NV, and Scania AB.
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The manufacturers of trolley bus motor are focusing on technological advancement to provide additional power sources – battery with electric power, which is expected to boost the sales in the coming decades.
The Europe trolley bus market is consolidated with some players holding prominent shares of the market. Top four market players are expected to hold ~ 30% share in the Europe trolley Bus market.