New York, USA, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global electric bus charging infrastructure market is anticipated to generate a revenue of $5,922.2 million and grow at a CAGR of 17.7% during the forecast timeframe from 2021 to 2028.
As per our analysts, with the increasing promotion of e-mobility services all across the globe and the rising number of electric buses, the global electric bus charging infrastructure market is expected to experience prominent growth during the analysis period. Besides, the growing adoption of 5G rollouts and innovative business models such as battery-as-a-service is further predicted to uplift the growth of the market during the forecast timeframe. Moreover, the regulatory measures and government push to create sustainable public transport infrastructure worldwide are expected to amplify the growth of the market over the estimated period. However, the high cost involved with the deployment of electric bus charging infrastructure systems may hinder the growth of the market.
Segments of the Market
The report has divided the electric bus charging infrastructure market into segments based on charging type, platform, and region.
Charging Type: Off-Board Sub-Segment to be Most Productive
The off-board sub-segment is expected to generate a revenue of $3,374.1 million during the forecast period. The increasing use of off-board direct current chargers to reduce a large amount of weight from the PHEV and increase the overall vehicle’s efficiency is predicted to uplift the growth of the market sub-segment during the estimated timeframe.
Platform: Depot Sub-Segment to be Most Profitable
The depot sub-segment is predicted to garner a revenue of $3,067.0 million throughout the analysis timeframe. This is mainly because deport chargers are essential for bus fleets that are stationed at depots. Moreover, the increasing government investments across many nations in the infrastructure development of the transportation sector are expected to propel the growth of the market sub-segment during the estimated period.
Region: Asia-Pacific Region to Hold the Maximum Share of the Market
The Asia-Pacific region of the electric bus charging infrastructure market is expected to garner a revenue of $2,807.1 million over the forecast timeframe. The strong presence of leading original equipment manufacturers of both buses and batteries in this region is expected to drive the regional growth of the market during the analysis period.
Covid-19 Impact on the Electric Bus Charging Infrastructure Market
The outbreak of the Covid-19 pandemic has slightly impacted the growth of the electric bus charging infrastructure market. This is mainly because of the trade restrictions that have disrupted the supply chain of lithium-ion batteries and power electronics all across the globe. Moreover, the significant fall in the demand for vehicles in the automotive industry and prolonged government-imposed restrictions have resulted in the reduction of the original equipment manufacturers (OEMs) and battery manufacturers. All these factors have decreased the growth of the market during the pandemic period.
Key Players of the Market
The major players of the electric bus charging infrastructure market include
- Efacec
- Heliox
- Furrer + Frey AG
- ChargePoint Inc.
- Liikennevirta Oy
- BYD Auto Co. Ltd
- Nuvve Corporation
- Alstom SA
- Proterra
- ABB Ltd.
These players are widely working on the development of new business strategies such as partnerships and collaborations, mergers and acquisitions, product development to attain a leading position in the global industry. Buy the full report starting at $2999 (Read-only)
For instance, in March 2021, Hitachi ABB Power Grids, the behemoth joint venture firm announced its collaboration with Yinlong Energy, the world’s largest manufacturer of electric buses. With this collaboration, the companies aimed to offer customers a complete optimized e-mobility solution and help cities speed up their transition to emission-free electric bus transportation and cleaner city air.
Further, the report also summarizes other crucial aspects including SWOT analysis, product portfolio, the financial performance of the key players, and the latest strategic developments.
More about Electric Bus Charging Infrastructure Market:
- Electric Bus: A Lower Emission Transportation Option for Seamless Travel Experience
- Electric Bus Charging Infrastructure Market Propelling with the Growing Adoption of Sustainable Means of Transportation
