Euro Bus Expo 2024: Trends, Insights, and Opportunities

News

3/12/2024

Exploring the Euro Bus Expo 2024: Trends, Insights, and Opportunities

On Thursday, 14th November, Hickman Shearer Managers George and Sameer attended the Euro Bus Expo, a premier event for the bus and coach industry, hosted at the NEC in Birmingham. Running from 12th to 14th November, this free-to-attend expo showcased the latest developments in buses, coaches, mini and midi vehicles, equipment, components, and services. Partnering with the Confederation of Passenger Transport (CPT)—the official voice of the UK’s bus and coach sector—the event provided invaluable insights into operational practices, emerging legislation, and engineering advancements.

The Euro Bus Expo was a fantastic opportunity to network with leading OEMs (Original Equipment Manufacturers) and gain a broader perspective on the current state of the market. From cutting-edge electric buses to market dynamics shaped by supply chain challenges, the expo highlighted key trends driving the sector forward.

Shining a Spotlight on Zero Emission Innovation

A standout moment from the expo was a session held in the Masterclass Theatre by Kent County Council. This session delved into the council’s electrification efforts under the Zero Emission Bus Regional Areas (ZEBRA) scheme, particularly its Fastrack rapid transit network. The council shared valuable insights into their decision to deploy the Irizar ie Tram, a 100% electric low-floor bus supported by strategically placed opportunity charging points along its route.

The session didn’t just spotlight a single product but also set the tone for the expo. Many exhibitors, from established brands like Irizar to emerging players like Yutong, used the event to promote their electric battery-powered vehicles, catering primarily to urban operators. The shift in focus was clear: electric and zero-emission vehicles are now central to the future of the bus and coach industry.

However, discussions with exhibitors revealed a level of uncertainty about the continued momentum for electric vehicles. Much of the current demand is tied to government funding programs like ZEBRA. While optimism remains high that the funding will be extended or replaced, the industry is aware that the transition to electric depends heavily on sustained financial support.

Market Dynamics: Challenges and Opportunities

Beyond zero-emission technology, the expo offered a deeper understanding of the broader bus and coach market. While sales have significantly improved since the challenges of the pandemic, anecdotal evidence suggests that new unit sales have slowed in 2024.

On the other hand, the used market remains robust, driven by lingering supply shortages caused by factory shutdowns and capacity reductions during the pandemic. Adding to this dynamic is the rising cost of new vehicles, which have reportedly seen a 20–30% increase in list prices since the pandemic. As a result, used vehicles—particularly those from 2016 onwards—have held their value more effectively than anticipated.

This bullish used market reflects the ongoing recovery in the sector while highlighting the financial challenges operators face when considering fleet upgrades or replacements.

Looking Ahead

The Euro Bus Expo 2024 offered invaluable insights into the state of the industry, from the growing prominence of electric vehicles to the evolving dynamics of the new and used markets. The event wasn’t just about gathering knowledge—it was about engaging with key players, exchanging ideas, and understanding the challenges and opportunities shaping the sector’s future.

The Euro Bus Expo remains an essential calendar date for industry professionals, offering a window into the future of passenger transport. Whether you’re an OEM, operator, or service provider, it’s a unique opportunity to connect, learn, and lead in a rapidly evolving market. We look forward to attending next year.

At Hickman Shearer, we specialise in delivering exceptional RICS and ASA certified capital asset valuation, management, and sales services. Our expertise span a wide range of global industries, ensuring that we provide tailored and insightful commercial valuations and equipment valuation services to meet your unique needs. Find out more here.