France Electric Bus Battery Pack - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

France Electric Bus Battery Pack - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The France Electric Bus Battery Pack Market size is estimated at 7.23 million USD in 2024, and is expected to reach 21.53 million USD by 2029, growing at a CAGR of 24.40% during the forecast period (2024-2029).

France's electric bus battery pack market surges as eco-friendly transportation gains traction

• The need for eco-friendly transportation options is fueling the expansion of the French electric bus battery pack market. Government programs intended to cut greenhouse gas emissions and encourage the use of electric buses are likely to have a considerable positive impact on the industry. The rising popularity of battery electric buses is one of the major factors propelling growth in the French electric bus battery pack market. Due to government incentives and subsidies, battery electric buses are viewed as a more ecologically friendly alternative to diesel buses and are growing in popularity in France. As a result, there was a rise in demand for battery packs for electric buses during 2017-2022.
• Another factor driving growth in the French electric bus battery pack market is the increasing focus on energy efficiency. Battery pack manufacturers are developing new technologies and materials to improve the efficiency and performance of battery packs, which, in turn, are helping drive down costs and improve the overall economics of electric buses.
• The market for electric bus battery packs also confronts a number of difficulties. The high price of battery packs is one of the largest obstacles and may be an important barrier for many bus operators. Additionally, some bus operators may find the restricted range and recharge capabilities of electric buses to be an obstruction. The market for battery packs for electric buses in France is expanding as a result of the rising consumer demand for eco-friendly transportation options. Although the sector has obstacles, it is anticipated that the growing acceptance of battery electric buses and the emphasis on energy conservation will lead to considerable development over the forecast period.

France Electric Bus Battery Pack Market Trends

Renault, Toyota Group, Peugeot, Hyundai, and Kia are the leading players in the French electric vehicle market

• The electric vehicle battery pack market in France is competitive, although five companies accounted for over 50% of the market as of 2022. These companies are, namely, Renault, Toyota Group, Peugeot, Hyundai, and Kia. Renault has witnessed the largest electric car sales, boasting a 23.12% share of the French electric vehicle battery pack market. As a domestic company, it enjoys a robust reputation among French consumers and has over 500 dealerships nationwide.
• The Toyota Group has a 15.94% share in the French electric vehicle battery pack market, ranking it second in terms of electric vehicle sales. The company's expansive service network, diverse product lineup, and trusted brand image contribute to its growth. Peugeot, another French brand, occupies the third place in the French electric vehicle battery pack market, with an 8.67% share. Catering to various client needs, the company thrives on a dependable supply and distribution chain.
• Hyundai, capturing 6.28% of the market share, stands as the fourth largest player in the French electric vehicle battery pack market. Its diverse offerings appeal to both mid-range and premium customers. Kia, holding roughly 4.90% of the market share, is the fifth largest player in the French electric vehicle battery pack market. Other notable companies in the French electric vehicle battery pack market include Mercedes-Benz, Dacia, Fiat, BMW, and Volkswagen.

Renault and Toyota sell more than 50% of EVs in France while employing the most battery packs

• Demand for electric vehicles in Europe is escalating, and France is witnessing a consistent uptick in this trend. The demand for electric compact SUVs is on the rise as consumer preference shifts toward sportier, adventurous driving experiences, accompanied by benefits comparable in price to sedans.
• In this burgeoning market, Renault Arkana sales have seen significant growth. The model appeals to those desiring an electric compact SUV that combines efficient mileage with affordability. The positive response to compact SUVs is evident in the French electric vehicle battery pack market. Consequently, the Renault Captur also emerged as a best-seller in 2022. Its offerings of a full hybrid and a slightly pricier plug-in hybrid, along with superior fuel efficiency, comfortable seating, and competitive pricing, have fueled its sales success.
• Several international brands are diversifying their portfolios in the French EV market with a range of electric SUVs and sedans. The Toyota Yaris hybrid has been a popular choice, registering impressive sales in 2022. Factors such as an extensive service network, competitive pricing, and a trusted brand image have driven the growth of Toyota models, exemplified by the 23,576 units of Toyota Yaris Cross sold in 2022. Competing alongside are models like Renault Clio, Peugeot 208, Tesla Model 3, Dacia Spring Electric, and Renault Megane, improving the EV landscape in France.

France Electric Bus Battery Pack Industry Overview

The France Electric Bus Battery Pack Market is fragmented, with the top five companies occupying 37.48%. The major players in this market are Akasol AG, Blue Solutions SA (Bolloré Group), Contemporary Amperex Technology Co. Ltd. (CATL), IRIZAR S.COOP. and Panasonic Holdings Corporation (sorted alphabetically).

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