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.
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.
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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.
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.
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.
