NEW YORK, Oct. 30, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the U.K. electric bus charging station market share generated revenue worth $13.3 million in 2018 and is expected to surpass $95.5 million by 2025, advancing at a CAGR of 30.7% during 2019–2025. On the basis of type, overnight chargers held the larger share in the market during the historical period (2017–2018).
Overnight chargers accounted for more than 95% sales volume in the U.K. electric bus charging station market in 2018. The market for these chargers is primarily driven by the increased preference of private and public transport agencies for overnight charging buses. The functional characteristics of these buses are similar to those of diesel buses, thus enabling easy operations throughout the day.
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At present, majority of the electric buses that are being ordered in the U.K. employ the depot charging technology. This is mainly due to the similar operational characteristics of these buses with respect to those of diesel buses. Furthermore, in recent years, battery prices have fallen significantly, making the prices of these buses competitive with opportunity charging buses. Under the BYD–ADL partnership, electric bus providers BYD Co. Ltd. (BYD) and Alexander Dennis Ltd. (ADL) offer electric buses that employ depot chargers for charging. To date, the partnership has delivered more than 150 such buses in the country. Thus, the increased preference for overnight charging buses can be viewed as a key trend in the U.K. electric bus charging station market.
The U.K. is actively focusing on replacing diesel buses with electric buses in its public transport fleet. In 2018, nearly 4% of the new bus sales in the country were those of zero-emission buses, with the number of electric buses procured surpassing 130. The sales got increased by more than 55% from the previous year. By the end of 2018, there were more than 300 electric buses on roads in the country. In June 2018, Transport for London (TFL) gave an order to BYD-ADL for the procurement of fully electric double-decker buses. The contract included the supply of 37 Enviro400EV electric buses, and a batch of five electric buses was delivered in July 2019.
Browse report overview with detailed TOC on "U.K. Electric Bus Charging Station Market Research Report: By Type (Overnight Charger, Opportunity Charger), Power (<50 kW, 50–150 kW, >150 kW) – Industry Trends and Growth Forecast to 2025" at: https://www.psmarketresearch.com/market-analysis/uk-electric-bus-charging-station-market
Electric buses offer numerous advantages over conventional fuel-based buses, which is why the adoption of these vehicles in public transit fleets is on the rise. Considerably low operating cost and increasing government support (in the form of incentives and subsidies) for electric buses are some of the factors boosting the adoption of electric buses in the country. In view of this, the demand for charging stations is increasing, thus contributing to the growth of the U.K. electric bus charging station market.
On the basis of power, ˂50 kW electric bus charging stations dominated the U.K. electric bus charging station market during the historical period. The market, however, is expected to register the highest CAGR in the category of >150 kW chargers during the forecast period, owing to the growing demand for faster-charging alternatives for electric buses.
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The U.K. electric bus charging station market is consolidated in nature, with BYD Co. Ltd. operating as the major player. Other prominent players in the market include APT Controls Ltd. and ABB Ltd.
In recent years, market players have won several contracts for the supply of electric bus and related charging stations in the country. For instance, in March 2019, Optare PLC received a contract for the supply of 21 double-decker electric buses and related charging infrastructure to First York Ltd., a bus operator in York, England, by the end of 2019. The buses have a capacity of 99 passengers and offer a travel range of over 150 miles on a single overnight charge.
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The European electric bus charging station market is highly dependent on the government support. Buses in the government sector are used for public transport, transit services, military, and others purposes.
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Electric Bus Charging Station Market
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.
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