New York, US, Oct. 18, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Electric Bus Charging Infrastructure Market Research Report Information By Charger Type (DC charger, Pantograph) Charging Method (Fast charging, Slow Charging) Forecast 2030”, the global market will grow to USD 349.41 MN by 2030, posting a 24.56% CAGR throughout the review period (2022–2030).
Electric Bus Charging Infrastructure Market Overview
The electric bus charging infrastructure market is evolving rapidly with growing government initiatives. Governments increasingly initiate transportation electrification projects to meet clean air targets and reduce greenhouse gas emissions. These charging stations/infrastructures supporting electric passenger vehicles and trucks boost the market size.
Electric Bus Charging Infrastructure Market Major Players
Players leading the global electric bus charging infrastructure market include,
- SCHUNK Group (Germany)
- Siemens AG (Germany)
- ABB (Switzerland)
- Kempower OY (US)
- Bombardier Inc (Canada)
- Daimler AG (Germany)
- ChargePoint Inc (US)
- Proterra (US)
- EFACEC (Portugal)
- Kehua Hengsheng Co.
- Ltd (China)
- Shijiazhuang Tonhe Electronics Technologies Co. Ltd (China)
- XCharge Inc (Germany)
- JEMA ENERGY (Spain)
- Alpitronic GmbH (Italy)
- and Ekoenergetyka (Poland)
- among others.
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Leading electric utility companies partner with electric vehicle companies to develop to establish electric vehicle-ready charging stations. The growing sale of electric vehicles (EVs) increases the demand for efficient charging stations. Electric public transport infrastructure development plans are increasing as a part of smart city projects. Increasing fuel prices and scarcity have been re-establishing the importance of electric vehicles as the best-suited alternative mobility solutions.
Due to growing environmental concerns worsening as the impact of fossil fuels, such as petrol and diesel usage, governments encourage people to take up EVs. These factors, combined with many advantages of electric vehicles over traditional fuel-based automobiles, foster EV sales and the demand for charging stations.
Furthermore, the increasing focus of OEMs on connected EV charging solutions fuels the demand for charging stations, increasing the market size. Over recent years, the number of electric buses plying on major city roads worldwide has doubled, clearly indicating the rising demand for charging stations.
Electric Bus Charging Infrastructure Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 349.41 Million |
| CAGR during 2022-2030 | 24.56% |
| Base Year | 2021 |
| Key Market Opportunities | Growth in demand within fleets |
| Key Market Drivers | Increase in demand for electric vehicles Strategic initiatives by major players Government policies and subsidies |
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Electric Bus Charging Infrastructure Market Segments
The electric bus charging infrastructure market is segmented into charger types, charging methods, and regions. The charger type segment is sub-segmented into DC chargers(up to 50KW,50 to 100KW, and 100 to 200 KW) and pantographs (up to 50KW, 50 to 100KW, and 100 to 200 KW). The charging method segment is sub-segmented into fast charging and slow charging. The region segment is bifurcated into the Asia-Pacific, Americas, Europe, and rest-of-the-world.
Electric Bus Charging Infrastructure Market Regional Analysis
APAC dominates the global electric bus charging infrastructure market. Factors such as the rapidly increasing electric vehicle sales and governments initiatives to introduce electric buses for public transport drive the market growth. Besides, huge investments in electric vehicle infrastructure development, growing demand for charging stations, and increasing disposable income are key growth drivers. Also, the presence of notable market players in the region supports regional market growth.
Europe is showing a substantial growth in the global electric bus charging infrastructure market due to the improving economy and growing EV sales. The UK, Germany, France, and Norway, backed by the rising EV sales due to government initiatives, contribute to the region’s market shares. Moreover, growing investments in developing efficient electric bus charging infrastructure substantiate market revenues.
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Electric Bus Charging Infrastructure Market Competitive Analysis
The highly competitive electric bus charging infrastructure market is led by several notable players. Key strategies traced from the analysis of recent developments of key players include product/technology launches, agreements & partnerships, acquisitions, and expansions. Given the growth and immense revenue generation potential of the market, several new players are getting attracted to the market. However, those new entrants find it challenging to survive in the market, witnessing the introduction of new technologies.
Industry/ Innovation/ Related News
Oct.14, 2022 --- Sitronics Group announced the signing of an agreement with the Government of Rostov Oblast to develop the city’s eco-friendly electric transport and charging infrastructure. The Ministry of transport and passenger transport, Rostov Oblast, aims to introduce electric buses and expand the charging infrastructure network as a part of its federal program of comprehensive development of the city and implement electric public transport.
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Intended Audience
- Automobile Companies
- Manufacturing Companies
- Research Institutes
- Academic Institutes
- Government Organizations
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