Electric Bus Charging Infrastructure Market is predicted to reach USD 349.41 million at a CAGR of 24.56% during the forecast period

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Electric Bus Charging Infrastructure Market.

Global Electric Bus Charging Infrastructure Market

Electric bus charging infrastructure or charging station is a piece of equipment used to charge plug-in electric buses. Connectors that comply with a range of standards are available at charging infrastructure. Multiple connectors are typically seen on DC charging stations, allowing them to power a wide range of buses. Typically, public charging infrastructure can be found on the street or in retail shopping complexes, government buildings, and other parking locations. 

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Electric Bus Charging Infrastructure

Market Synopsis

According to the MRFR analysis, the Global Electric Bus Charging Infrastructure market size is projected to reach USD 349.41 million by 2030 at a CAGR of 24.56%.

The increasing production and sales of electric cars directly impact the growth of the electric bus charging infrastructure business. The global market is likely to benefit from favorable government policies and subsidies around the world. Furthermore, the global market is projected to benefit from an increase in demand for electric bus fleets and the launch of ultra-fast electric bus charging infrastructures. However, several obstacles, including the high initial capital cost of an e-bus, the demand for CNG and LPG vehicles, and a lack of standardization and regulation, are limiting the growth of the global market for electric bus charging infrastructure.

 The rapid spread of coronavirus initially in China’s Wuhan that later covered most countries worldwide has affected the automotive industry, including electric vehicles. However, the sales of EVs in the initial days of the pandemic dropped but recovered soon with the relaxation in the movement and lockdown policies from the government authorities. For instance, although the Chinese electric vehicles market slowed down for some time, it recovered soon with some boosters from the government to stimulate industry growth by providing subsidies and purchasing tax exemptions.

Electric Bus Charging Infrastructure Market Competitive Landscape

The global electric bus charging infrastructure market is characterized by the presence of global, regional, and local players. The global market remains consolidated with the majority of tier-1 players, with leaders, including Bombardier Inc (Canada), ABB (Switzerland), Siemens (Germany), Schunk Group (Germany), and EFACEC (Portugal), hold the largest share of the global electric bus charging infrastructure market. The global electric bus charging infrastructure market is anticipated to grow at a healthier CAGR during the forecast period, owing to the increasing sales of electric vehicles during the assessment period. The key manufacturers of electric bus charging infrastructure market compete based on manufacturing cost, technology advancement, and power capacity. They are engaged in expanding their production capacity and investing in R&D activities to gain an edge over competitors.

Segmentation:

Electric Bus Charging Infrastructure Market Based on charger type:

• DC charger: DC chargers operate by sending current directly to the electric bus’s battery via the charge port. These chargers are classified into three types, which includes DC charger 50 kW, 50–100 kW, and 100–200 kW. DC charger up to 50kW is majorly used in charging stations and has been established as the standard fast-charging power in the global electric vehicle market. FC charge is a type of DC charger ranging from 50kW or more, which can supply 100 or more kilometers of range per hour of charging.


• Pantograph: Pantographs are sets of scissor-like contact arms that draw their power for vehicle operation from stationary masts. Pantographs are available in different versions. One widely used variant is a mounted vehicle roof, as this is the easiest to implement technically. It can be controlled by the driver, and during the charging process, its behavior is identical to that of a conventional Combined Charging System (CCS) plug.

Electric Bus Charging Infrastructure Market Based on charging method:

• Fast charging: The fast-charging segment is expected to register notable growth in the global market during the forecast period due to its increasing demand in the power and electronics industries. ABB, Oprid, Schunk, and Proterra are the key suppliers of conductive coupling devices. The conductive coupling devices enable an extremely high charging power of up to 500 kW, whereas the inductive systems' charging power is about 200 kW for the Bombardier Primove system.


• Slow charging: Slow charging is typically associated with overnight charging. This is the most ordinary form of charging used by various charging infrastructure solutions for charging electric vehicles. More than 70% of personal vehicles are parked during the day and thus have 22 hours per day to be recharged, which indicates that slow AC charging can meet the needs of many.

Electric Bus Charging Infrastructure Market Based on region:

• North America: The market growth in North America can be attributed to the government initiatives for charging stations and increasing investments in the development of DC fast-charging station infrastructure to support their long-range battery-electric vehicles. Furthermore, the demand for electric bus charging infrastructure market in the region is likely to be driven by the increasing demand for electric vehicles and expanding power industry.


• Europe: This growth can be attributed to the presence of Tier-1 players in this region and the increasing number of electric bus charging infrastructure manufacturers in this region. ABB, Siemens, Schunk Group, Daimler AG, EFACEC group, XCharge, Alpitronic GmbH, Jema Energy, and Ekoenergetyka are the major producers of global electric bus charging infrastructure market present in Europe.


• Asia-Pacific: It is expected to emerge as the fastest-growing regional market due to various factors such as the upsurge in demand for low emission commuting and increasing investments by governments for charging and hydrogen fueling stations and zero-emission vehicles through subsidies & tax rebates. China and India are anticipated to dominate the Asia-Pacific market over the forthcoming years.


• Rest of the World: The region has latent potential for the development of the electric vehicle industry in this region. With the increasing adoption of electric buses as part of the transport industry, the growth of Electric Bus Charging Infrastructure market is also expected to grow significantly.