In the EU market, overall new commercial vehicle sales fell 19.8% in Q2 of 2022, according to the European Automobile Manufacturer’s Association. This continues a general stagnation that began with the COVID-19 pandemic and has been perpetuated by supply chain disruption, factory shutdowns, and hiring gaps. However, despite these ongoing issues, buses bucked the trend and achieved year-on-year growth of 32.8%.
According to Global Market Insights, the future success of buses may be closely linked to the parallel rise of autonomous vehicle (AV) capabilities. As of 2021, the research firm valued the global autonomous bus market at US$1bn. Assuming a CAGR of 19% between 2022 and 2028, it calculated that the sector could be worth over US$4bn by the end of the decade.
