Electric Bus Charging Infrastructure Market Analysis

Electric Bus Charging Infrastructure Market Overview

Electric Bus Charging Infrastructure Market Size was valued at USD 2.1 billion in 2022. The Global Electric Bus Charging Infrastructure industry is projected to grow USD 16.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 26.1% during the forecast period (2023 - 2030). An increase in demand for electric vehicles, strategic initiatives by major players, and government policies and subsidies are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Electric Bus Charging Infrastructure Market Trends

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  Government policies and subsidies are driving the market growth

  
  

To reduce the negative impact on the environment and foreign exchange reserves, governments and state governments in several nations are establishing charging stations to stimulate the adoption of electric vehicles. In several nations, efforts are underway to plan and deploy large-scale interconnected EV charging stations along several major transportation corridors. Digitalization, interoperability, and charging network roadmaps are all important concerns to be addressed in the planning process. In several cases, stimulus packages are augmenting the funding for EV infrastructure. In the European Union, the Alternative Fuel Infrastructure Directive (AFID) is the main measure directing the roll-out of publicly accessible EV Charging stations. Members of the EU are required to set deployment targets for publicly accessible EV chargers for the decade to 2030, with a suggestive ratio of one charger per ten electric cars. China proposed a USD 1.4 trillion digital infrastructure public spending initiative like large-scale investments in Europe, including EV Charging stations funding. Hence, due to government policies and subsidies, the Electric Bus Charging Infrastructure Market's CAGR growth is expected to gain traction throughout the forecast period.

Additionally, the intense rivalry among fleet owners has resulted in adopting measures that increase profit margins. Electric vehicles can be critical in reducing fuel expenses and increasing profit margins, requiring very little maintenance with few moving parts. Thus, they minimize the total cost of ownership further. The fleet owners are looking for new developments, technologies, and trends to improve the business case for hybrid-electric buses and drive increased Electric Bus Charging Infrastructure market revenue. Manufacturers have begun investing in the development of electric buses, primarily focused on the fleet requirement, to meet future demand for electric buses among fleets. For instance, in 2018, VDL Bus & Coach supplied 100 electric buses to Connexxion for the Amstelland Meerlanden concession in Amsterdam, Europe, making it the world's largest electric bus fleet. More than 160 electric buses have struck the streets of Groningen-Drenthe, a new European concession, in 2019. As a result, the increased demand for electric buses, particularly among fleets, creates attractive prospects for players operating in the Electric Bus Charging Infrastructure Market.

Electric Bus Charging Infrastructure Market Segment Insights

Electric Bus Charging Infrastructure Charger Type Insights

The Electric Bus Charging Infrastructure Market segmentation, based on charger type, includes DC chargers and Pantograph. The pantograph segment is expected to have a higher CAGR and lead the market share during the forecast period. Pantographs are scissor-like contact arms that draw power from stationary masts for vehicle operation. Pantographs are available in different versions.

Figure1: Electric Bus Charging Infrastructure Market, by Charger Type, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Electric Bus Charging Infrastructure Charging Method Insights

Based on the charging method, the Electric Bus Charging Infrastructure Market segmentation includes Fast Charging, and Slow Charging. The slow-charging segment is expected to have the highest CAGR and dominate the market share during the forecast period. 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.

October 2021 ABB partnered with Basel for Switzerland's largest infrastructure projects. Basel selected ABB's charging technology for sustainable e-bus operations during the forecast period. The contract is part of Basel Public Transport's (BVB) efforts to convert its entire bus fleet to battery-electric operations.

October 2021 Custom Denning, one of Australia's leading bus manufacturers, selected Siemens AG's electric bus Charging stations and digital depot management solution for its fleet of fully Australian-designed and built Element electric buses. These charging stations will help the bus manufacturer prototype electric buses and will be available for future e-Bus orders from its customers.

Electric Bus Charging Infrastructure Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American electric bus charging infrastructure market will dominate due to increased demand for electric vehicles; strategic initiatives by major players and government policies will boost the market growth in this Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: Electric Bus Charging Infrastructure Market Share By Region 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Electric Bus Charging Infrastructure market accounts for the second-largest market share. The growth can be attributed to Tier-1 players in this Region and the increasing number of electric bus charging infrastructure manufacturers. Further, the German Electric Bus Charging Infrastructure market held the largest market share, and the UK Electric Bus Charging Infrastructure market was the fastest growing market in the European Region.

The Asia-Pacific Electric Bus Charging Infrastructure Market is expected to grow at the fastest CAGR from 2023 to 2032. This is 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. Moreover, China’s Electric Bus Charging Infrastructure market held the largest market share, and the Indian Electric Bus Charging Infrastructure market was the fastest-growing market in the Asia-Pacific region.

Electric bus charging infrastructure Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the electric bus charging infrastructure market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The electric bus charging infrastructure industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Electric Bus Charging Infrastructure industry to benefit clients and increase the market sector. In recent years, the Electric Bus Charging Infrastructure industry has offered some of the most significant advantages to the automotive industry. Major players in the Electric Bus Charging Infrastructure market, including Siemens AG (Germany), SCHUNK Group (Germany), ABB (Switzerland), Bombardier Inc (Canada), Kempower OY (US), Daimler AG (Germany), Proterra (US), ChargePoint, Inc (US), EFACEC (Portugal), Shijiazhuang Tonhe Electronics Technologies Co., Ltd (China), Kehua Hengsheng Co., Ltd (China), XCharge Inc (Germany), Alpitronic GmbH (Italy), JEMA ENERGY (Spain), Ekoenergetyka (Poland)., and others, are attempting to increase market demand by investing in research and development operations.

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company's solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered, and operated.ABB's ~105,000 employees are committed to driving innovations that accelerate industrial transformation.ABB partnered with Basel as a partner for Switzerland's largest infrastructure projects. Basel selected ABB's charging technology for sustainable e-bus operations during the forecast period. The contract is part of Basel Public Transport's (BVB) efforts to convert its entire bus fleet to battery-electric operations.

Custom Bus is an Australian bus-body building, having produced its first vehicle in 1955. Custom has a reputation for producing sophisticated city buses for government and route services, designed for a 25-year life cycle. Products range between the  CB80 low-floor city bus and the SB50 school bus products (12.5m, midi, front/rear engine, articulated, cargo variants). Custom Denning, one of Australia's leading bus manufacturers, selected Siemens AG's electric bus Charging stations and digital depot management solution for its fleet of fully Australian-designed and built Element electric buses. These charging stations will help the bus manufacturer prototype electric buses and will be available for future e-Bus orders from its customers.

Key Companies in the electric bus charging infrastructure market include

• Siemens AG (Germany)


• SCHUNK Group (Germany)


• ABB (Switzerland)


• Bombardier Inc (Canada)


• Kempower OY (US)


• Daimler AG (Germany)


• Proterra (US)


• ChargePoint, Inc (US)


• EFACEC (Portugal)


• Shijiazhuang Tonhe Electronics Technologies Co., Ltd (China)


• Kehua Hengsheng Co., Ltd (China)


• XCharge, Inc (Germany)


• Alpitronic GmbH (Italy)


• JEMA ENERGY (Spain)


• Ekoenergetyka (Poland)


• Brunswick Corporation

Electric bus charging infrastructure Industry Developments

In April 2024, the Vertelo EV financing platform for India was introduced by the Macquarie Group of Australia. The organization has allocated 95% of its $1.5 billion investment towards the electrification of commercial vehicle fleets. Solutions for fleet management, financing, and charging infrastructure will be provided by the platform. The remaining 5% will be allocated to infrastructure charging and other necessary expenditures. Macquarie had previously stated that it and the Green Climate Fund (GCF) of the United Nations would establish an electric vehicle (EV) financing platform with an initial focus on shared fleets, charging infrastructure, and electric buses. However, the nature of this investment was not specified. Fleet electrification is a priority for the Australian financial services conglomerate at a time when global EV sales are declining and automakers are resorting to discounts to stimulate demand.

The state of New York began financing infrastructure for charging electric school buses in March 2024. Variable funding amounts are allocated to applicants in accordance with predetermined criteria. As an illustration, financial support commences at $25,000 per bus to cover hardware, installation, and associated expenses. Priority districts are eligible to receive an additional $10,000. Additionally, candidates who adopt a comprehensive Fleet Electrification Plan are eligible to receive a maximum of $30,000 per bus. There is considerable momentum behind the implementation of sanitary buses in school bus operations. The Environmental Protection Agency of the United States selected 67 applicants to receive nearly $1 billion through the first Clean School Bus Program Grants Competition in early 2024. The grants, facilitated by the Investing in America initiative of President Biden, will assist recipients in procuring more than 2,700 environmentally friendly school buses for 280 school districts that provide education to more than 7 million students in 37 states.

Electric Bus Charging Infrastructure Market Segmentation

Electric bus charging infrastructure Charger Type Outlook

• DC charger


• Pantograph

Electric bus charging infrastructure Charging Method Outlook

• Fast Charging


• Slow Charging

Electric bus charging infrastructure Regional Outlook

North America

• US


• Canada

Europe

• Germany


• France


• UK


• Italy


• Spain


• Rest of Europe

Asia-Pacific

• China


• Japan


• India


• Australia


• South Korea


• Australia


• Rest of Asia-Pacific

Rest of the World

• Middle East


• Africa