Electric Bus Charging Infrastructure Market Size

Electric Bus Charging Infrastructure Market Growth Projections and Opportunities

The global market for electric bus charging infrastructure witnessed a valuation of USD 40.21 million in 2020 and is poised to experience substantial growth with a projected Compound Annual Growth Rate (CAGR) of 24.56%, reaching a significant milestone of USD 349.41 million by the conclusion of 2030.

The segmentation of the global electric bus charging infrastructure market is based on charger type, charging method, and geographical regions. In terms of charger type, the market is categorized into DC charger and pantograph. The DC charger segment is further detailed into up to 50 KW, 50 to 100 KW, and 100 to 200 KW. On the other hand, the pantograph segment is subdivided into 50 to 150 KW, 150 to 300 KW, and 300 to 500 KW. Notably, the pantograph segment emerged as a major player, contributing to 55.08% of the global market share in 2020, valued at USD 22.15 million. It is expected to demonstrate a notable CAGR of 23.51%, reaching USD 176.84 million by the culmination of 2030.

With respect to the charging method, the electric bus charging infrastructure market encompasses fast charging and slow charging. The slow charging segment commanded a considerable 69.39% share in 2020, with a valuation of USD 27.90 million. This segment is anticipated to sustain its growth momentum, registering a CAGR of 23.77% and reaching USD 227.60 million by 2030.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and Latin America. In 2020, Asia-Pacific emerged as the dominant region, securing a substantial 46.22% share in the global electric bus charging infrastructure market. This dominance is expected to persist with a growth rate of 22.95% throughout the forecast period, attributed to the increasing sales of electric vehicles and supportive government subsidies. The Asia-Pacific segment held a valuation of USD 18.58 million in 2020, projected to escalate to USD 141.93 million by the culmination of 2030.

The growth of the electric bus charging infrastructure market is influenced by various factors, including the charger types and charging methods adopted, as well as the regional dynamics. The prevalence of pantograph chargers, slow charging methods, and the burgeoning electric vehicle sales in the Asia-Pacific region contribute significantly to the market's upward trajectory. As the global push towards sustainable and eco-friendly transportation gains momentum, the electric bus charging infrastructure market is poised to play a pivotal role in shaping the future of public transportation systems worldwide.