Electric Bus Charging Infrastructure Market Expected to Reach $18.8 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Electric Bus Charging Infrastructure Market," The electric bus charging infrastructure market was valued at $1.9 billion in 2021, and is estimated to reach $18.8 billion by 2030, growing at a CAGR of 30.9% from 2022 to 2030.

Electric vehicles have the potential to transform the world's transportation economy, substantially reducing carbon emissions and opening the door to significant climate gains. Electric bus charging systems connect the plug-in electric vehicle to an electrical outlet to charge the vehicle's battery. Furthermore, to address the increased demand for electric buses, a number of automakers and electric component manufacturers are collaborating in order to develop enhanced electric bus charging systems.

Governments are launching large-scale initiatives to promote the use of green energy-powered electric buses. E-mobility is now widely regarded as the most promising technology for reducing transportation emissions. Electric buses are rapidly replacing traditional diesel-powered buses, outpacing battery-powered automobile adoption. According to Bloomberg New Energy Finance, by 2030, 28% of car sales will be electric vehicles, while 84% of new buses will be electric buses. These factors are responsible for the growth of the market.

Some of the disadvantages of electric bus charging infrastructure include that buses find it more challenging to operate overnight if necessary as it takes considerable time for the batteries to charge. Buses can only go up to 250 km on a fully charged battery before having to stop and re-charge it for several hours or minutes. These factors restrain the growth of the market.

Market players have a lot of room to grow as a result of rise in demand for private electric bus charging infrastructure. Since many hospitality service providers offer electric bus charging facilities at their locations, this has increased competition in the hospitality sector. Additionally, many multinational corporations offer charging stations as part of their infrastructure which is projected to create a substantial opportunity for growth of the companies that design and install charging infrastructure. Electric buses have a number of potential benefits over standard diesel buses. Along with these environmental advantages, e-buses can minimize running costs, increase passenger comfort (by lowering vibration), reduce noise pollution, help stabilize the grid through vehicle-to-grid applications, and improve energy efficiency through lower fuel and maintenance costs. These factors are anticipated to boost the market growth in the upcoming years.

The global electric bus charging infrastructure market share is segmented based on platform, charging type, and region. By platform, it is classified into depot and on-the-go. By charging type, it is classified into on-board and off-board. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the electric bus charging infrastructure market report include ABB Ltd., Alstom SA, BYD Auto Co. Ltd, ChargePoint Inc., Efacec, Furrer + Frey AG, Heliox, Liikennevirta Oy(Virta Global), Nuvve Corporation, and Proterra. Moreover, electric bus charging market share is accounted by key players namely ChargePoint Inc., Heliox, and BYD Auto Co. Ltd.

The report offers a comprehensive analysis of the global electric bus charging infrastructure market trends by thoroughly studying different aspects of the market, including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of Covid-19 on the Global Electric Bus Charging Infrastructure Industry

• COVID-19 impacted almost all industries and the electric bus charging infrastructure producing companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, and a shortage of labor. The fear of contracting the novel coronavirus led to sluggish demand in the market.
• Sales of electric bus charging infrastructure are directly proportional to the demand from automotive industry. However, various sector, such as automotive, were negatively impacted by the COVID-19 pandemic that has affected the production and demand for electric bus charging infrastructure due to disrupted supply chain.
• Social distancing norms, closed borders, and production constraints due to the pandemic across various countries such as China, India, and the U.S. have affected the global market.

Key Findings of the Study

• Based on platform, the on-the-go sub-segment emerged as the global leader in 2021, and the depot sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
• Based on charging type, the off-board sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years.
• Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.