Growing
at a 17.8% CAGR during the forecast period, the European electric bus charging station market is estimated to generate a revenue of $697.7
million by 2025. The inclusion of electric buses in the public fleet,
implementation of government schemes and regulations favoring their usage, as
well as the increasing investments in building electric bus charging
infrastructure are driving the market growth.
Enormous
inflows of investment for developing the charging station infrastructure are
being witnessed by the European electric bus charging station market.
Electric buses are being increasingly adopted in many countries as they
have become affordable due to the implementation of different subsidy schemes.
For instance, in
2018, the
Federal Ministry for the Environment, Nature Conservation and Nuclear Safety of
Germany created an $82.7 million fund to encourage public transport operators
to invest in electric and plug-in electric buses.
The
categories of the electric bus charging station in european market, based
on power, are less than 50 kW, 50–150 kW, 151–450 kW, and more than 450 kW. In
terms of volume, during the historical period, the less than 50 kW category
dominated the market. However, the fastest growing category during the forecast
period is expected to be the more than 450 kW category, due to the increasing requirement
for faster charging of electric buses.
Based on type, the market is subdivided into opportunity charging,
depot charging, and others. The largest market share in terms of volume, in
2018, was held by the opportunity charging category. The ease of functioning
offered by this type of charging is driving the category’s growth. These
chargers not only reduce the downtime for charging, but also hasten the overall
charging process, thereby resulting in the longer operating hours of the
vehicle.
In the region, the government
sector employs buses for transit services, military, and other purposes.
Therefore, the European electric bus charging station market is highly
reliant on government support. Countries across the region are highly motivated
to include more electric buses in their transportation systems. For instance,
the Netherlands’ national plan, named Green Deal, plans to electrify the entire
public transport fleet of more than 5,000 buses by 2025.
The European e-bus
charging station market, during the historical period, was dominated
by the U.K., which, in 2018, held a 20.0% market share in terms of volume. The
increasing government support in the form of financial and non-financial
incentives would aid in the faster adoption of these vehicles, which is
expected to make the U.K. the dominating market in the forecast period as well.
Some of the prominent players
in the European electric bus charging station market are Bombardier
Inc., Schunk Carbon Technology, Ekoenergetyka-Polska Sp. z o.o.,
Heliox BV, Powerdale NV, and JEMA Energy SA.
Know Notable Developments in this Technology: https://www.psmarketresearch.com/market-analysis/europe-electric-bus-charging-station-market
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