Western Europe Heavy Ground Transportation Vehicles Market

Researchnews2406 Jun, 2023Business

In 2021, the Western European heavy ground transportation vehicles market valued $155.4 billion, which is expected to increase to $271.5 billion by 2030, at a 6.4% CAGR. A lot of people from bordering countries come to France to explore its iconic monuments, taste its fine wines, wander in its beautiful countryside, and partake in its haute cuisine, thereby driving the demand for transit buses in Western Europe at a high rate. Although the bus market in the region is small presently, it offers lucrative opportunities to OEMs, component providers, and aftermarket firms, especially with the advent of autonomous and electric buses. Hence, seeing the potential increase in the demand for buses and trucks in Central and Western Europe, automakers have started launching new models with advanced technologies, to suit various industrial and commercial purposes.