According to the report by Expert Market Research (EMR), the global electric bus charging infrastructure market size reached a value of USD 2.94 billion in 2023. Aided by the increasing adoption of electric buses across various countries, driven by the growing emphasis on reducing vehicular emissions and promoting sustainable urban transportation solutions, the market is projected to further grow at a CAGR of 20.2% between 2024 and 2032 to reach a value of USD 16.50 billion by 2032.
Electric buses are key components in the transition towards green public transport systems due to their efficiency and low environmental impact. The charging infrastructure, which includes equipment such as charging stations, power management systems, and software, is essential for supporting the operational capabilities of these vehicles. As cities continue to invest in electric public transit systems, the demand for robust and efficient charging solutions is expected to rise significantly.
As per the electric bus charging infrastructure market analysis, increasing urbanisation and the development of smart cities are leading to a greater focus on efficient public transportation systems. Electric buses, supported by advanced charging infrastructure, are integral to these projects due to their ability to reduce urban air pollution.
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As technology advances, the cost of electric vehicle components, including batteries and charging systems, is decreasing. This cost reduction is making the setup of electric bus charging infrastructure more affordable and encouraging broader adoption.
As per the electric bus charging infrastructure market outlook, governments worldwide are implementing strict regulations on emissions and are providing various incentives and subsidies to encourage the adoption of electric vehicles (EVs), including buses. This regulatory support is a crucial driver for the market as it makes investments in electric bus infrastructure more viable.
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Innovations in charging technology, such as the development of fast-charging and wireless charging systems, are enhancing the efficiency and convenience of using electric buses and boosting the electric bus charging infrastructure market growth. These advancements are making electric buses more appealing to transit authorities and passengers alike.
Major companies and municipal governments are extensively investing in the expansion of charging infrastructure networks to accommodate a growing fleet of electric buses. There is an increasing trend of integrating electric bus charging infrastructure with renewable energy sources like solar and wind. This integration not only enhances the sustainability of public transport systems but also reduces operational costs, which can aid the electric bus charging infrastructure market expansion.
Numerous public-private partnerships are being formed to develop and deploy electric bus charging infrastructure, which helps share the financial burden and accelerates deployment rates.
There is an increasing focus on developing ultra-fast charging solutions that can recharge electric bus batteries within minutes, mirroring the refuelling time of traditional diesel buses. These technologies in the electric bus charging infrastructure market aim to minimise downtime and increase the operational efficiency of electric buses, making them more appealing for widespread urban transit use.
Efforts are underway to standardise electric bus charging systems globally. Standardisation is crucial for ensuring compatibility between buses and charging stations from different manufacturers and for facilitating international growth in electric bus adoption. This trend is expected to help reduce costs and simplify the logistics of deploying new electric buses and charging infrastructure.
Vehicle-to-grid technology allows electric buses not only to draw power from the grid but also to return energy during peak demand periods. This capability turns electric buses into mobile energy sources, potentially stabilising the grid and providing a new revenue stream for public transit operators, which can contribute to the electric bus charging infrastructure market share.
Innovations such as mobile charging units and temporary charging infrastructure are becoming more prevalent, especially for special events or in areas where permanent infrastructure is not yet viable. These solutions provide flexibility and extend the range and utility of electric buses without requiring extensive upfront infrastructure investment.
Market Segmentation
The market can be divided based on platform, charging type, and region.
Market Breakup by Platform
- Depot
- On The Go
Market Breakup by Charging Type
- Plug-in Charging
- Overhead Charging
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global electric bus charging infrastructure market. Some of the major players explored in the report by Expert Market Research are as follows:
- ABB Ltd.
- Siemens AG
- Proterra Inc.
- Alstom SA
- Heliox
- ChargePoint Inc.
- Liikennevirta Oy
- Furrer + Frey AG
- Nuuve Holding Corp.
- Electreon Wireless Ltd.
- Others
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