[195+ Pages Report] According to the report published by Facts and Factors, the global electric bus charging station market was valued at approximately USD 529.3 Million in 2019, and is expected to generate revenue of around USD 5,101.5Million by end of 2026, growing at a CAGR of around 38.22% between 2020 and 2026.
Global Electric Bus Charging Station Market: Overview
Plug-in and overhead charging are the two most common methods for charging electric buses. The majority of electric bus charging stations are plug-in; however, due to the trend of developing interoperability of electric buses, overhead charging is expected to increase during the analysis period, owing to the growing number of electric vehicles.
Global Electric Bus Charging Station Market: Growth Factors
The growth of the global electric bus charging station market is mainly driven by favorable government schemes and regulations paired with the growing demand for electric buses increases the deployment of electric buses. In addition, EV charging stations powered by renewable sources are expected to open up new alluring opportunities for the global electric bus charging station market in years to come. The growing advent of wireless charging systems is a key development in the global electric bus charging station industry. These charging systems have become a hot topic among bus manufacturers as a way to reduce the weight of a bus while also shortening the charging time. The wireless charging system uses a cordless technique to transfer power from the supply system to the load. It can also be energized in a variety of ways, both dynamic and static. Furthermore, as compared to traditional plug-in chargers, these systems significantly increase electric vehicle efficiency as well as the driving experience in terms of range.
Global Electric Bus Charging Station Market: Segmentation
The global electric bus charging station market is segregated based on type, connector, charger, charging, and region. Plug-in charging, pantograph charging, and inductive charging are the type segment of global electric bus charging station market. Based on the connector, the market is classified into J1772, CCS, and others. Off-board and on-board are the charger type segment of the electric bus charging station market. Further, the report also categorized the charging segment into fast charging and slow charging.
Global Electric Bus Charging Station Market: Regional Analysis
In 2019, Europe leads the global electric bus charging station market. The European electric bus charging station market is seeing massive inflows of investment for expanding charging station infrastructure. Electric buses are becoming more common in many countries as a result of various subsidy schemes that have made them more affordable. For example, Germany's Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety established a USD 82.7 million fund in 2018 to encourage public transportation companies to invest in hybrid and plug-in electric buses. Increasing demand for electric buses encourages the introduction of electric bus charging stations, which propels the electric bus charging station market in the United States forward.
Global Electric Bus Charging Station Market: Competitive Players
Some main participants of the Electric Bus Charging Station market are ABB Ltd., Ekoenergetyka-Polska Sp. z o.o., Siemens Mobility GmbH, JEMA Energy S.A., APT Controls Ltd., Advanced Vehicle Manufacturing Inc., Schunk Carbon Technology, Bombardier Inc., Proterra Inc., Powerdale NV, and Heliox B.V. amongst others.
Electric Bus Charging Station Market: Regional Segment Analysis
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