Electric Bus Charging Station Market Demand and Share Report

1
How are Government Initiatives for Increasing
Adoption of Electric Buses Driving Demand for
Electric Bus Charging Stations?
2
The preference for electric vehicles has increase
significantly all across the globe. This can be
attributed to the surging air pollution levels,
caused due to conventional ICE vehicles, rapid
depletion of fossil fuels, and growing focus on
renewable energy sources. Since electric vehicles
can aid in curbing the emission of greenhouse
gases into the atmosphere, their adoption has
been increasing among people since the past few
years. While previously, the focus has majorly
been on electrification of private vehicles, such
as motorcycle, cars, and schools, now governments
of several countries are also focusing on
electrifying the public transport systems of
their countries. Owing to this, the global
electric bus charging station market is expected
to register substantial growth in the years to
come. The adoption of electric buses has
particularly been increasing because of various
incentive programs, including grants, tax
rebates, and subsidies. Therefore, as the
adoption of electric buses will rise, the need
for related charging infrastructure will grow as
well.
3
For example, the European Commission allotted a
budget of 82.7 (EUR 70 million) for the
deployment for plug-in electric and electric
buses in the public fleet and for the
construction of related charging infrastructure
that is needed for the operation of these buses,
in February 2018. Moreover, the Chinese
government has also taken the initiative for
installing 500,000 new public charging stations
during the time period 20152020 for encouraging
the adoption of electric buses in the country.
The global electric bus charging station market
is predicted to attain a revenue of 12.3 billion
by 2025, increasing from 6.6 billion in 2019,
and is predicted to grow at a 9.7 CAGR during
the forecast period (20192025). On the basis of
type, the market is divided into inductive
charging, depot charging, and opportunity
charging, among which, the depot charging
division contributed the largest revenue share to
the market in 2018. As these buses have similar
operations as diesel buses, they are easier to
operate. To receive free sample pages of this
report https//www.psmarketresearch.com/market-an
alysis/electric-bus-charging-station-market/report
-sample
4
When charger is taken into consideration, the
market is bifurcated into on-board and off-board,
between which, the on-board bifurcation accounted
for the larger share of the market in 2018, in
terms of volume. The off-board bifurcation is
expected to grow at a faster pace during the
forecast period, owing to the fact that this way
the weight of the vehicle will be decreased.
Moreover, off-board charger offer swift charging
at higher power levels. The Asia-Pacific region
held the major share of the electric bus charging
station market in 2018, which can primarily be
attributed to fact that China is the largest
electric bus market across the globe. The country
accounts for 99.0 of the total sales of electric
buses around the world. This increasing
penetration of electric buses in the country is
bound to create high demand for related charging
infrastructure, including electric bus charging
stations. In conclusion, the market is growing
due to the surging pollution across the globe,
increasing use of electric buses, and government
initiatives. Inquire before purchase
https//www.psmarketresearch.com/send-enquiry?enqu
iry-urlelectric-bus-charging-station-market
5
Disclaimer PS Intelligence always keeps its
customers interests at the core while carrying
out research activities. PS Intelligence ensures
the reliability and accuracy of information and
data provided in its market research
publications. However, the information in
publications is subject to fluctuations, as it is
based on primary interviews of officials from
various companies or organizations. PS
Intelligence is not responsible for any incorrect
data provided by the key industry players of the
concerned domain. the information or analysis in
PS Intelligence publications represents opinions
based on research and should not be interpreted
as statements of fact. Information in this report
was believed to be correct at the time of
publication, but cannot be guaranteed. PS
Intelligence does not endorse any product,
service, or vendor depicted in its research
publications. All intellectual properties,
including trademarks and copyrights, belong to
their respective owners and may be protected by
copyright. Under no circumstance can these be
reproduced in any form without prior written
agreement of their owners. An order for market
research report is intended for internal use of
the company only and not for disclosure to third
parties or any other publication in general. No
service, report, or part thereof provided by PS
Intelligence can be reproduced, republished,
resold, revealed, distributed, circulated, or
sublicensed in any medium or form now realized or
hereafter become realized, including but not
limited to, all forms of optical-based media,
magnetic, electronic, or digital, without a
written permission from Prescient Strategic
Intelligence Pvt. Ltd.