The U.S. electric bus charging station market is projected to reach $221.5 million by 2025, according to P&S Intelligence.
The growth of the market is majorly driven by the increasing demand of electric buses by local transit agencies coupled with government favourable funding schemes to develop charging infrastructure in the country. Local governments with the help of federal and state governments, are integrating electric buses into their municipal or public transit fleets. Such procurement initiatives are expected to drive the U.S. electric bus market which in turn will benefit the electric bus charging station market in the country.
Insights into market segments
On the basis of product, the U.S. electric bus charging station market is categorized into plug-in charging, pantograph charging, and inductive charging. Inductive charging station is expected to be the fastest growing category in the market during the forecast period. Manufactures are collaborating with the bus makers and public transit authorities to increase adoption of electric bus charging station in the states. For instance, in March 2018, Momentum Dynamics and BYD Auto Co. Ltd. delivered a 50 kW wireless charging bus station in Maryland. These moves by major manufacturers are expected to benefit the market during the forecast period.
On the basis of charging, fast charging category is expected to remain the faster growing category during the forecast period. It charges electric buses in approximately 30 minutes with a high-voltage direct current (DC) as compared to a slow charging category which takes more than 5 hours. This benefit makes the fast charging category a better choice supporting its rapid implementation in the U.S. electric bus charging station market.
Browse report overview with 30 tables and 20 figures spread through 100 pages and detailed TOC on "U.S. Electric Bus Charging Station Market by Product (Plug-In Charging, Pantograph Charging, Inductive Charging), by Connector (J1772, CCS), by Charger (Off-Board, On-Board), by Charging (Fast Charging, Slow Charging) – Market Size, Share, Development, Growth, and Demand Forecast, 2016–2025" at:https://www.psmarketresearch.com/market-analysis/us-electric-bus-charging-station-market
Government schemes and regulations increase the deployment of electric bus charging stations in the U.S.
Most of the decisions of purchasing electric buses are made at the federal or state government level. The U.S. government has a strong commitment to increase the share of electric buses in the transportation system of the country. The Federal Transit Administration (FTA), an agency within the U.S. Department of Transportation (DOT), published a notice of funding opportunity (NOFO) announcing a competitive funding under the Low- or No-Emission Grant program. The program funds will offer financial assistance for the purchase or leasing of low- or zero-emission vehicles that incorporate advanced technologies, including related equipment or facilities which are expected to benefit the U.S. electric bus charging station market.
The U.S. had around 70,000 buses in public fleet in 2017. These old conventional fuel-based buses are expected to be replaced by new electric ones during the forecast period. Large fleet of old conventional buses in the country provides considerable opportunity for the electric bus sales in the country. Such procurement and replacement initiatives are expected to drive the U.S. electric bus market which in turn will benefit the electric bus charging station market in the country.
U.S. Electric Bus Charging Station Market Competitive Landscape
The U.S. electric bus charging station market is still in its nascent phase, with a few players operating within the country. Some of the major players in the market are ABB Ltd., Siemens Mobility GmbH, Proterra Inc., Advanced Vehicle Manufacturing (AVM) Inc., and APT Controls Ltd.
U.S. Electric Bus Charging Station Market Segmentation