Electric Bus Charging Infrastructure Market Overview:
The global electric bus charging infrastructure market will continue to climb an average annual
rate of 6% over the next four years. Here are some key findings from their
latest report on this market
The electric bus
charging infrastructure market has experienced significant growth in the past
decade, and the trend of increased use of electric buses in public
transportation systems isn’t showing any signs of slowing down.
The Global
Electric Bus Market Is Expected To Grow
It's no secret that
our world is in need of a sustainable solution. The electric bus market is one
example of how we can make a difference. The global electric bus market is
expected to grow by 6% from 2017-2025, reaching a total value of $5.5 billion
by 2025.
Electric buses
offer significant reductions in fuel costs and emissions levels, as well as
improved public health due to less reliance on diesel fuels. Globally, the
electric bus charging infrastructure market is forecasted to reach an annual
volume of 934 million units by 2022 and reach 2 billion units annually by 2026
with North America representing more than 60% share of electric buses sold
worldwide during this period.
Electric Bus
Charging Infrastructure Market Key Players
·
Siemens AG (Germany)
·
SCHUNK Group (Germany)
·
ABB (Switzerland)
·
Bombardier Inc (Canada)
·
Kempower OY (US)
·
Daimler AG (Germany)
·
Proterra (US)
·
ChargePoint Inc (US)
·
EFACEC (Portugal)
·
Shijiazhuang Tonhe Electronics Technologies Co
Ltd (China)
The US Is
Investing In Electric Bus Infrastructure
In order to cut
down on emissions, improve air quality, and save money, many U.S. cities are
investing in electric bus infrastructure. In New York City, for example,
they've committed $32 million to purchase 50 fully electric buses and five
charging stations. The city has also allocated an additional $10 million to
help create a network of electric vehicle charging stations that will serve
both public and private vehicles in all five boroughs.
Europe Is
Leading The Way In Electric Bus Adoption
With a push for
clean, sustainable transportation and a focus on reducing emissions, it is
little surprise that Europe has been leading the way in electric bus adoption.
The European Union has set regulations mandating that companies reduce their
emissions by 20% between 2020 and 2030. This will be difficult if not
impossible without switching to electric vehicles. Since buses are one of the
major sources of air pollution in most cities, they are an important target for
reducing emissions.
China Is The
Largest Market For Electric Buses
China is currently
the largest market for electric buses, with over 300 million kilometers
traveled by such vehicles in 2016. The country has ambitious plans to put 5,000
electric buses on its roads in 2017 and at least 10,000 more each year until
2020. To achieve this goal, China's Ministry of Transport announced in November
2016 a $2.6 billion purchase of 200 pure electric buses from BYD Co., Ltd.
The Electric Bus
Charging Infrastructure Market Is Expected To Grow
In order to meet
climate change goals, cities across the world are turning to electric buses.
The rise in demand is being driven by an increasing number of cities with
zero-emission vehicle mandates and by government incentives for electric bus
buyers.
The global electric
bus charging infrastructure market size was valued at USD 890.2 million in 2017
and is expected to grow at a CAGR of 16.6% over 2018-2024, reaching USD 2,694
million by 2024.
Electric Bus
Charging Infrastructure Market Segmentation
By Charger Type
·
Dc Charger
·
Pantograph
By Charging
Method
·
Fast Charging
·
Slow Charging
By Regions
·
North America
·
Europe
·
Asia Pacific
·
Rest Of The World
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