Why Does France Dominate Western Europe Heavy Ground Transportation Vehicles Market?
By 2030, the Western Europe heavy ground transportation vehicles market will be worth $271.5 billion. This can be attributed to the area's fast urbanization, automotive technology advancements, and commercial activity growth. Additionally, new use cases are being developed due to the push toward electrification and the development of digital technologies.
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Only 1% of new registrations in Europe in 2020 were for zero-emission heavy-duty vehicles (HDVs). 95% were battery-powered, and fuel-cell electric technologies were marginally present.
As a result, Europe's share of the worldwide HDV industry with no emissions in 2020 was a little under 3%. The adoption of zero-emission HDVs is anticipated to rise dramatically over the next ten years due to EU-wide laws on pollution reduction.
In addition, the population of Europe and the count of commercial and passenger vehicles in use are constantly increasing. The largest consumer marketplace in the EU, for instance, is Germany, which has a population of 83.2 million.
At some of the biggest trade shows in the world, such as Medica, Automechanika, the Hannover Fair, and the ITB tourist Show, a tremendous amount of business is transacted in Germany. Different forms of transportation are needed for these occasions, which enhances the market's growth potential for heavy ground transportation vehicles.
The region's bus business brought in nearly $8 billion in the past. The growing number of people earning middle-class wages fuels this industry's growth. Additionally, businesses have upped their R&D expenditures recently in preparation for introducing electric buses into the municipal fleets of Western European nations.
Governments support commercial fleet owners and public transportation agencies in utilizing BEBs, which are environmentally beneficial, due to their strong concern for the environment. France, the U.K., and Germany are responsible for more than 50% of all-electric buses in Western Europe.
The greatest revenue share in Western Europe was accounted for by France. With some of the most famous landmarks in the world, top-notch art and architecture, stunning scenery, and an incredible amount of history, the nation attracts tourists of all ages.