NEW YORK, May 27, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, European electric bus charging station market is expected to reach $697.7 million by 2025, with a CAGR of 17.8% during the forecast period. This growth is attributed to the growing investments toward electric bus charging infrastructure, rise in the uptake of electric buses in public fleet of Europe, as well as existence of favorable government schemes and regulations.
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The European electric bus charging station market is witnessing in-flow of quantum amount of investment toward the development of charging stations and infrastructure. Different subsidy schemes are introduced in different countries, causing faster adoption of electric buses in public fleet. For instance, in Germany, the Federal Ministry for the Environment, Nature Conservation, and the Building, and Nuclear Safety (BMUB), collectively created a fund of $82.7 million (EUR 70 million) to support the public transport operators to invest in electric and plug-in electric buses, in 2018, for the development of charging infrastructure of electric buses.
On the basis of type, the European electric bus charging station market is classified into depot charging, opportunity charging, and others. Among these, the opportunity charging category held the largest market share in terms of sales volume, in 2018. The growth of this category is driven by the ease of functioning of these chargers. These chargers facilitate the reduction of downtime for charging, as well as expediting the overall charging process, thereby ensuring the vehicle to run longer.
Based on power, the European electric bus charging station market is categorized into less than 50 kW, 50–150 kW, 151–450 kW, and more than 450 kW. Among these, less than 50 kW category dominated the market during the historical period, in terms of volume. However, more than 450 kW category is expected to witness the fastest growth during the forecast period, owning to the growing need for faster charging of the electric buses.
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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. Countries across the region have a strong commitment to increase the share of electric buses in their transportation systems. Local governments in the countries are integrating electric buses into their municipal or public transit fleets. For instance, Holland has a national plan (green deal) to electrify the country’s entire public transport bus fleet (5000+ buses) by 2025.
The U.K. dominated the European electric bus charging station market during the historical period, and held a volume share of around 20%, in 2018. Further, during the forecast period, the U.K. is expected to continue dominating the market, owing to the faster adoption rate of electric vehicles in the country, government support in form of financial and non-financial incentives for the procurement of these vehicles, as well as developing related infrastructure.
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Some of the major players operating in the European electric bus charging station market are Ekoenergetyka-Polska Sp. z o.o., Heliox B.V., JEMA Energy S.A., Powerdale NV, Schunk Carbon Technology, and Bombardier Inc.
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