Global Electric Bus Charging Station Market Overview
The key driver impacting the electric bus charging station market is enacting supportive government policies such as funding and incentive programs regarding electric bus charging infrastructure development. For instance, the European Commission publicizes a budget of $82.7 in February 2018 to deploy plug-in electric and hybrid buses in public fleets and growth of the associated charging infrastructure. Similarly, the Chinese government begins an initiative to install 500,000 public charging stations from 2015 to 2020, to support the deployment of electric buses in the country. Moreover, the high usage of electric buses in public transport fleets contributes to electric bus charging station market demand in the coming years.
According to Value Market Research, the global Electric bus charging station market size was valued at around USD 7000 million in 2020 and is estimated to grow at a CAGR of about 9.5% during the forecast period 2021 to 2027.
The government funding program of various nations for the procurement of electric buses is likely to augment the demand in the forecast period. For instance, Around ₹212.31 crores have been out for procurement of e-buses under Phase-II of FAME (Faster Adoption and Manufacturing of Hybrid and Electric) India scheme of 2015 31.01.2021. Similarly, in 2020, the federal government's Low or No-Emission Bus granted the sum of $130 million. It was distributed across 41 approved projects, including the purchase of full e-buses and hybrid EVs. However, the high cost of installation and the equipment itself may hamper the market in the long run. Also, the lack of standardization in electric bus charging infrastructure negatively impacts the market. The current industry trends, such as the burgeoning demand for electric bus charging stations in private spaces and several large multinational corporations, offer charging facilities as part of their employee welfare programs, expected to provide several beneficial market opportunities for the key players.
The Electric bus charging station market is vast, with many local and global players. The Electric bus charging station market is extensive, with many regional and international players. The prominent market leaders follow several strategies to improve their market status, such as extending product portfolio, acquisitions, contracts, acquisitions, amalgamation, acquisitions, product upgrades to mount their market share across the globe. The prominent players studied in the report Siemens AG, Ekoenergetyka-Polska Sp. z o.o., JEMA Energy S.A., Heliox B.V., Powerdale NV, Schunk Carbon Technology, and Bombardier Inc., Advanced Vehicle Manufacturing Inc., ABB Ltd., and Proterra Inc., Qingdao TGOOD Electric Co. Ltd., China Potevio Co. Ltd., Star Charge, and GH Energy Inc.
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In this research report, the electric bus charging station market is segmented by type, power, and region.
Analysis by Type:
By type, the report is categorized into depot charging, opportunity charging, and inductive charging. The public segment dominates the type segment with over 55% share in 2020. It is due to the growing inclination of private and public transport agencies toward overnight charging buses, as they have more similar operational characteristics to diesel buses. Moreover, lower installation costs and operating costs of these charging stations with a reduction in battery prices of overnight charging buses contributes to the growth of the depot charging segment in the forecast period.
Analysis by Power:
By power, the report is categorized into <50 kW, 151–450 kW, >450 kW. The <50 kW segment dominates the power segment with over 30% share in 2020. It is due to the lower cost incurred in deploying these charging stations. Moreover, most electric bus fleet operators, particularly in China, utilize depot charging stations, which generally have a power output range of less than 50 kW, thus contributing to the growth of <50 kW segment in the forecast period.
Analysis by Region:
In the regional outlook of the global electric bus charging station market, the Asia Pacific region dominates globally with a 40% market share in the forecast period. It is due to the massive growth of China's electric bus market. Moreover, the rising adoption of electric buses across China and Japan is adding driving the regional market growth. Moreover, The Korean and Japanese governments have also come up with measures to radically advance electric vehicle charging points across their natons in the upcoming years, contribute to tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Type
- Depot Charging
- Opportunity Charging
- Inductive Charging
By Power
- <50 kW
- 50–150 kW
- 151–450 kW
- >450 kW
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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