DUBLIN--(BUSINESS WIRE)--The "Electric Bus Charging Station Market Research Report: By Type, Power, Charger, Geographical Insight - Global Industry Analysis and Growth Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The electric bus charging station market is predicted to attain a size of $12.3 billion by 2025, progressing at a 9.7% CAGR during the forecast period.
Increasing government initiatives and regulations, rapid adoption of electric buses in the public feet, and several investments being made for the development of e-bus charging stations are some of the key factors behind the growth of the market. Currently, the market is at the early stage of advancements, and it significantly depends on government funding and other beneficial schemes.
Based on type, the electric bus charging station market is categorized into opportunity, depot, and inductive charging. Out of these, in 2018, depot charging led the market in terms of sales volume. This is attributed to the increasing inclination of private and public transport agencies toward overnight-charging buses, as their operational features are quite similar to those of diesel buses. Further, on the basis of charger, the market is bifurcated into on-board and off-board.
Of these, in 2018, on-board chargers dominated the electric bus charging station market in terms of sales volume. However, the off-board charger bifurcation is predicted to exhibit faster growth during the forecast period. The main reason behind the steady progress of off-board chargers would be that these allow manufacturers to control the weight of the bus and provide speedy charging at higher power levels. Governments of various countries are initiating several incentive programs, such as grants, tax rebates, and subsidies, in order to develop the electric bus infrastructure.
In the government sector, buses are used for public transport, military and other purposes. Countries around the globe are committed to raising the share of electric buses in the transportation system. Local governments of various nations are integrating electric vehicles (EV) in their public or municipal transit fleets. For instance, the city of Columbus is planning to integrate 200 EVs for its municipal fleet and install charging stations during the forecast period.
Further, the increasing demand for ultra-fast charging stations is one of the key trends being witnessed in the electric bus charging station market. Ultra-fast charging systems are gaining popularity among charging station infrastructure providers and bus manufacturers, as these systems help in controlling the bus weight and decreasing the charging time. These charging systems allow the power to be transmitted to the load from the supply in a cordless method, and these can also be charged flexibly in both dynamic and static ways. For instance, in May 2018, Proterra launched a new high-power, ultra-fast charging system, which is more scalable, reliable, flexible, and powerful.
- Increasing Preference Toward Deport Charging System Over Opportunity Charging System
- Growing Demand for Ultra-Fast Charging Station
- Government Initiatives and Regulations
- Increasing Adoption of Electric Buses in Public Fleet
- Mounting Investment Toward Development of Electric Bus Charging Station
- Lack of Standardization
- High Cost of Equipment & Installation
- Up Surging Requirement of Electric Bus Charging Stations in Private Establishments
- Increasing Adoption of Electric Buses in Developing Economies
- Ekoenergetyka-Polska Sp. z o.o.
- Proterra Inc.
- Heliox B.V.
- ABB Ltd.
- Siemens AG
- JEMA Energy S.A.
- Powerdale N.V.
- Schunk Carbon Technology
- Bombardier Inc.
- Advanced Vehicle Manufacturing Inc.
- China Southern Power Grid Company Limited
- State Grid Corporation of China
- Qingdao TGOOD Electric Company Limited
- China Potevio Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/vs5x2w