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Valued at $13.3 million in 2018, the U.K. electric bus charging station market is projected to reach $95.5 million by 2025, witnessing a CAGR of 30.7% during the forecast period (2019–2025).
Fundamentals Governing U.K. Electric Bus Charging Station Market
Rise in the number of electric buses in the public transport fleet is the major factor boosting the growth of the U.K. electric bus charging station market. The buses are used in the government sector for military and public transit purposes. The decision with respect to the deployment of electric buses in the country is taken at the local or central government level. Moreover, the country is committed to increasing the share of electric buses in its public transport fleet. For instance, in June 2018, Transport for London (TFL) placed an order for fully electric double-decker buses to BYD Co. Ltd. (BYD) and Alexander Dennis Ltd. (ADL). The contract included procurement of 37 BYD-ADL Enviro400EV electric buses, of which 5 were delivered in July 2019.
U.K. Electric Bus Charging Station Market Segmentation Analysis
When segmented by type, the U.K. electric bus charging station market was led by overnight chargers, with the category accounting for over 95% share in terms of sales volume in 2018. This can be majorly attributed to the preference of private and public transport agencies for overnight charging buses. Moreover, the operational characteristics of these buses are similar to those of diesel buses. Additionally, with falling battery prices, the price of these buses is also decreasing, making them competitive with respect to electric buses that are charged using opportunity chargers.
On the basis of power, ˂50 kW chargers accounted for the largest share in the U.K. electric bus charging station market in 2018. Low cost is the major factor supporting the dominance of these chargers in the market. However, the market is expected to register the fastest growth in the category of >150 kW chargers during the forecast period.
Competitive Landscape of U.K. Electric Bus Charging Station Market
The U.K. electric bus charging station market was consolidated in 2018, largely dominated by BYD Co. Ltd. Besides, BYD Co. Ltd. and Alexander Dennis Ltd. partnered for electric vehicle deployment in the U.K., with BYD-ADL becoming the largest electric bus provider in the country. There were around 150 BYD-ADL Enviro200EV electric buses in service in the U.K., representing nearly 50% of the country’s electric bus fleet in 2018. Besides electric buses, the companies, under their partnership, provide related charging stations in the country. Other key market players include APT Controls Ltd. and ABB Ltd.
Recent Strategic Developments of Major U.K. Electric Bus Charging Station Market Players
In recent years, major players in the U.K. electric bus charging station market have won several contracts for the installation of dedicated bus chargers and focused on collaborations with electric bus manufacturers and utility companies. For instance, in June 2019, Heliox B.V. and InvertedPower Pty. Ltd. collaborated to introduce a battery-buffered charging station named SprintCharge. The smart charging station comprises battery storage to facilitate high-power opportunity charging. Under this partnership, Heliox B.V. will offer charging infrastructure and InvertedPower Pty. Ltd. will offer key technologies for battery integration. The product concept was presented by Heliox B.V. at the UITP Global Public Transport Summit in June 2019.
Besides, in November 2018, BYD Co. Ltd. and Alexander Dennis Ltd., together in a partnership, announced that the companies delivered 36 electric buses to RATP Dev, a public transport operator in London. The companies received the contract in November 2017, which included the supply of 36 Enviro200EV electric buses, along with the installation of 37 charging units and associated charging infrastructure.
Key Questions Answered in the Report