NEW YORK, July 17, 2019 (GLOBE NEWSWIRE) -- The European electric bus charging station market is projected to reach USD 581.9 million by 2024, registering a CAGR of 17.4% during the forecast period. Supporting government initiatives and schemes, and growing investment towards charging station infrastructure are the major factors leading to the growth of the European electric bus charging station market.
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Off-board category accounted for the larger revenue share in the electric bus charging station market
Based on charger, the European electric bus charging station market is categorized into off-board and on-board chargers, wherein off-board category accounted for larger share in 2018, in terms of volume. The category is expected to lead throughout the forecast period. Electric bus manufacturers able to reduce the weight of the buses and makes it lighter, with the help of off-board station. This will result in fast charging at higher power levels.
On the basis of type, the European electric bus charging station market is divided into depot charging, opportunity charging, and others. Among these categories, the opportunity charging category accounted for largest share in 2018 in terms of sales volume. However, the depot charging category is expected to witness fastest growth during the forecast period due to the increasing preference for overnight charging buses among private and public agencies.
Explore key industry insights in 25 tables and 15 figures from the 104 pages of report, “Europe Electric Bus Charging Station Market Analysis and Forecast to 2024 - Industry Insights by Charger (Off-Board, On-Board), by Type (Depot Charging, Opportunity Charging, Others), by Power (<50 kW, 50–150 kW, 150–450 kW, >450 kW)”
Primary factor for the growth of the European electric bus charging station market is increasing number of electric buses in the public transport
The European electric bus charging station market is predominantly dependent on the government support, funds, and schemes. Government sector use buses for public transport, military, transit services, and other purposes. Various countries across the region are focusing more on increasing the number of electric buses in their transportation systems. Moreover, local governments in the countries are adopting electric buses into their municipal or public transit fleets. For instance, the European Commission supported a Europe-wide electromobility initiative, Green eMotion, worth €41.8 million (USD 46.9 million), in partnership with forty-two partners from industry, utilities, electric vehicle manufacturers, municipalities, universities and technology and research institutions.
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Competitive Insight
Some of the key players operating in the European electric bus charging station market are Bombardier Inc., Schunk Carbon Technology, Ekoenergetyka-Polska Sp. z o.o., Heliox B.V., JEMA Energy S.A., and Powerdale NV.
Key Takeaway from the Report:
- Off-board category hold the larger share in the market
- Of all the type, the highest growth in the demand for the depot charging category has been observed over the last five years which is anticipated to remain the highest among all types during the forecast period
- More than 450 kW category is expected to witness the fastest growth in the market
- Less than 50 kW category accounted for largest share in 2018 in terms of volume
The Report Offers:
- Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
- Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
- Market insights by in-depth segmentation with industry dynamics
- Competitive analysis and benchmarking of the industry leaders and their product offerings
- Profiles of leading players and innovators, their financial overview and product portfolio
- Analysis of key industry trends and recent developments
- Value chain analysis and distribution channel analysis with opportunity assessment
- Market share analysis of major players
The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million) and volume (Units). The report segments the Europe electric bus charging station market on the basis of charger, type, power, and country.
Europe Electric Bus Charging Station Market Coverage
Charger Insight and Forecast 2014-2024
- Off-Board
- On-Board
Type Insight and Forecast 2014-2024
- Depot Charging
- Opportunity Charging
- Others
Power Insight and Forecast 2014-2024
- <50 kW
- 50–150 kW
- 150–450 kW
- >450 kW
Geographical Segmentation
Electric Bus Charging Station Market by Country
- U.K.
- Germany
- France
- Spain
- Netherlands
- Sweden
- Poland
- Belgium
- Rest of Europe
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