Global Electric Bus Charging Station Market 2024–2033

Reports Description

The rising government support is boosting the electric bus charging station market.

According to Custom Market Insights (CMI), The Global Electric Bus Charging Station Market size was worth around USD 2.2 billion in 2021 and is expected to reach USD 4.1 billion in 2022 and is predicted to grow to around USD 19.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 31.5% between 2022 and 2030.

The report analyses the Electric Bus Charging Station market’s drivers and restraints and their impact on demand throughout the projection period. In addition, the report examines global opportunities in the global Electric Bus Charging Station market.

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Electric Bus Charging Station Market Overview

A bus that runs on electricity instead of gasoline, diesel, or other fuels is called an electric vehicle (EV). An electric bus runs solely on electricity, unlike a hybrid car with an internal combustion engine. As a result, to underline that they only run-on electricity, electric vehicles are occasionally referred to as "all-electric vehicles." When an electric bus needs power, it draws it from the grid and stores it in a tank that can be recharged. This is precisely how our technology operates. Until they require recharging, we utilize them without restriction after plugging them in to charge the battery.

Electric Bus Charging Station Market: COVID–19 Impact Analysis

Early in 2020, the COVID-19 outbreak had a minimal impact on the EV charging sector because of lockdowns. However, due to government incentives worldwide, the demand for EVs and related markets surged in 2021, which boosted the requirement for EV charging stations.

Globally, top EV charger producers and network providers have expanded the number of their personal and public EV chargers. For instance, Shell has over 250,000 EV charging stations worldwide as of December 2021, a massive increase from less than 50,000 in 2020. ABB also had over 400,000 EV charging stations as of December 2021, an increase of more than 100% from the prior year. In addition, all other networks and charging station makers have expanded the availability of EV charging. This market was less affected by the epidemic because of the significant drive by governments worldwide to phase out ICE automobiles.

Electric Bus Charging Station Market: Growth Drivers

Surging government support for the development of electric bus charging station

The rise in the value proposition of electric vehicles is being influenced by government policy support in the form of R&D, the creation of novel technologies, mandates and regulations, financial incentives, and other measures. Many governments are assisting electric car manufacturers by offering tax credits and other subsidies to increase sales.

Additionally, the governments provide incentives and subsidies for constructing the infrastructure needed for EV chargers and a road tax exemption. The market for electric bus charging stations has been driven by several important variables, most notably rising government funding programs and greater government ambitions for the electrification of mass buses. Governments are also initiating considerable initiatives to promote the usage of vehicles powered by green energy. For instance, European electric bus policies primarily focus on market expansion and technological innovation.

The European Commission also supported Green eMotion, an initiative to promote electromobility across all of Europe that was started in partnership with 42 partners from businesses, utilities, electric vehicle producers, municipalities, universities, and technology and research institutions.

The surging popularity of Mobility as a Service (MaaS)

Mobility as a Service (MaaS) is attaining popularity, which is also anticipated to fuel industry expansion. Additionally, the emphasis placed on subscription-based charging models has contributed to the growth of EV charging stations. According to the model, numerous utilities have partnered with OEMs to offer their consumers subscription-based services, including Vattenfall AB, Duke Energy Corporation, and New York Power Authority. For instance, in April 2019, Duke Energy Corp. and ChargePoint Inc. struck a collaboration agreement to provide subscription-based services to its EV drivers in North Carolina, a U.S. state.

However, some expenses related to the EV charging infrastructures, such as maintenance, installation, and operational costs, are detrimental to the market's expansion.

Electric Bus Charging Station Market Segmentation Analysis

In our research scope, the moringa market is segmented into charger, type, and power. The global electric bus charging stations market is divided into two categories based on the charger: off-board and on-board chargers. In terms of sales volume in 2021, the onboard category held a higher proportion. Therefore, the type is anticipated to be in the lead throughout the projected period.

However, the off-board type is expected to have higher growth throughout the projected period since it enables the producers of electric buses to make their vehicles lighter and lighter by using off-board stations. Fast charging at more incredible power levels will come from this.

Report Scope

Feature of the Report	Details
Market Size in 2021	USD 2.2 Billion
Projected Market Size in 2030	USD 19.5 Billion
Market Size in 2022	USD 4.1 Billion
CAGR Growth Rate	31.5% CAGR
Base Year	2023
Forecast Period	2024-2033
Prominent Players	ABB, Furrer+Frey AG., Siemens, ALSTOM, Heliox, PROTERRA, Momentum Dynamics Corporation, ElectReon, Liikennevirta Oy (Ltd.), and Others
Key Segment	By Charger, Type, Power, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Key Insights:

• As per the analysis shared by our research analyst, the Electric Bus Charging Station market is estimated to grow annually at a CAGR of around 31.5% over the forecast period (2022-2030).
• In terms of revenue, the Electric Bus Charging Station market size was valued at around USD 2.2 billion in 2021 and is projected to reach USD 19.5 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on charger type segmentation, the onboard segment was estimated to hold the maximum market share in 2021.
• Based on type segmentation, the depot charging segment was the top revenue-generating category in 2021.
• Based on power segmentation, the less than 50 kW segment was the top revenue-generating category in 2021.
• Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Recent Development

• 2022: A UK-based fund, Causes E-Mobility, plans to construct factories for producing electric 2-wheelers, 3-wheelers, and buses. The company wants to get involved in every aspect of the electric car industry, starting with creating an 8 gigatonne-hour lithium-ion cell plant, four production facilities, and renewable energy-powered charging stations.
• 2021: According to ABC Companies, a North American motorcoach seller, an all-electric Van Hool CX45E bus completed a 1,700-mile journey through the Pacific Northwest. Using solely public charging stations, the "Proterra Powered" electric bus travelled from Newark to Seattle and back. The trip is an example of the value of electric bus capabilities and the growing charging network in the US for promoting long-distance electric car travel.

Regional Landscape

In 2021, Asia Pacific led the market for electric bus charging stations. The Asia Pacific region includes China, India, Japan, and South Korea. Some of the economies in the world that are expanding the fastest are found in this region, including China and India.

The governments of these developing nations have taken several steps to entice major OEMs to build electric vehicle charging stations in their domestic markets after realizing the potential for growth in the global electric bus charging station market. For instance, charging network providers for EV charging stations have partnered with several OEMs to advertise free EV charging for EV drivers.

Competitive Landscape

The industry participants constantly attempt to improve their current product portfolios and develop new products. These players favour partnerships with other EV producers for strategic growth.

Prominent Players:

• ABB
• Furrer+Frey AG.
• Siemens
• ALSTOM
• Heliox
• PROTERRA
• Momentum Dynamics Corporation
• ElectReon
• Liikennevirta Oy (Ltd.)

The global Electric Bus Charging Station market is segmented as follows:

By Charger

• Off-board
• Onboard

By Type

• Depot Charging
• Opportunity Charging
• Inductive Charging

By Power

• Less than 50 kW
• 50–150 kW
• 151–450 kW
• More than 450 kW

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America