The global electric bus charging station market is expected to be valued at $12.3 billion by 2025, and grow at a CAGR of 9.7% during the forecast period. The growth of the market is driven by adequate government initiatives and regulations, swift adoption of electric buses in public fleet, as well as numerous investments toward the development of electric bus charging stations, across the world, according to P&S Intelligence.
The electric bus charging station market is at the early stage of development and is hugely dependent on government funding and other conducive schemes. Several incentive programs, such as tax rebates, grants, and subsidies, have been launched by governments of different countries in order to develop the electric bus infrastructure.
Insights into Market Segments
On the basis of type, the electric bus charging station market is classified into depot charging, opportunity charging, and others. Among these, the depot charging category held the largest sales volume, in 2018. This is because of the growing preference of public and private transport agencies toward overnight charging buses, as they have more similar operational characteristics to diesel buses. Prices of batteries installed in overnight charging buses were higher due to large in size as compared to those in opportunity charging buses, therefore the former type of buses was more expensive than the latter. But, in recent years, the battery prices have fallen significantly making the prices of overnight charging buses competitive with opportunity charging buses.
Based on charger, the electric bus charging station market has been categorized into off-board and on-board chargers. Out of the two, on-board charger stood as the larger category in 2018 in terms of sales volume. However, during the forecast period, off-board chargers are expected to witness faster growth. The major reason for the growth of the off-board chargers category would be that these allow bus makers to curb down the weight of the vehicle, and offer rapid charging at higher power levels.
Adoption of Electric Buses in Public Fleet is Acting as a Major Driver
The electric bus charging station market is highly dependent on government support. Buses in the government sector are used for public transport, transit services, military, and other purposes. Most of the decisions of purchasing electric buses are made at the federal or state level. Countries across the world have a strong commitment to increase the share of electric buses in the transportation system. Local governments in several countries are integrating electric vehicles (EVs) into their municipal or public transit fleets. For instance, the city of Columbus plans to integrate 200 EVs into its municipal fleet and also develop charging stations. Moreover, the Chinese government has a strong commitment to increase the share of electric buses in the transportation system of the country.
Growing Demand for Ultra-Fast Charging Stations is a Key Trend in the Market
To curb down the bus weight and to decrease the charging time, ultra-fast charging system has become popular among bus manufacturers and charging station providers. This charging system enables the power to be transmitted from the supply to the load in a cordless technique and it can also be energized flexibly in both static and dynamic ways. Additionally, an ultra-fast charging system significantly improves the performances of EVs as compared to conventional plug-in chargers. Numerous companies around the globe are working toward the development of this type of electric charging to decrease the effective bus charging time. For instance, in May 2018, Proterra introduced a new high-power, ultra-fast charging option, which is more reliable, flexible, scalable, and powerful.
Asia-Pacific (APAC) was the Largest Electric Bus Charging Station Market in 2018
Geographically, the electric bus charging station market is categorized into North America, Europe, APAC, and Rest of the World (RoW). Among these, the APAC region was the largest market for the electric bus charging stations during the historical period. The dominance of the APAC market is attributed to the massive growth of China’s electric bus market. China alone accounts for 99.0% of the total electric buses sold across the world, which created a large demand for related infrastructure including charging stations. Thus, the growth of the market for bus charging stations stands parallel to the massive growth of electric buses in the region.
Browse report overview with detailed TOC on "Electric Bus Charging Station Market Research Report: By Type (Depot Charging, Opportunity Charging), Power (<50 kW, 50–150 kW, 151–450 kW, >450 kW), Charger (Off-Board, On-Board), Geographical Insight (U.S., Canada, U.K., Germany, Netherlands, Lithuania, Austria, Belgium, Poland, Sweden, Spain, France, China, India, Brazil) – Global Industry Analysis and Growth Forecast to 2025" at:https://www.psmarketresearch.com/market-analysis/electric-bus-charging-station-market
Electric Bus Charging Station Market Competitive Landscape
Some of the major players operating in the the global electric bus charging station market are Heliox B.V., Ekoenergetyka-Polska Sp. z o.o., Powerdale NV, JEMA Energy S.A., Bombardier Inc., Schunk Carbon Technology, Siemens AG, ABB Ltd., China Potevio Co. Ltd., Advanced Vehicle Manufacturing Inc., Star Charge, HIGH Energy Inc., Proterra Inc., and Qingdao TGOOD Electric Co. Ltd.
ELECTRIC BUS CHARGING STATION MARKET SEGMENTATION
Market Segmentation by Type
Market Segmentation by Power
Market Segmentation by Charger
Market Segmentation by Region