Achieving sustainable living is a major concern at the present time across the globe. The utilization of alternative sources for generating energy instead of fossil fuels is one of the primary ways by which sustainability can be achieved. Because of this, electric vehicles are gaining traction around the world as more and more people are becoming aware regarding the degradation of the environment. While electric scooters and cars have been around since a while now, the concept of electric buses is fairly new. The adoption of electric buses in public transport fleet started in China, however, now several other countries are increasingly introducing electric buses for public transport.
At the present time, about 400,000 electric buses are in operation across the globe. This number is further projected to increase in the coming years, which will result in the growing need for electric bus charging stations worldwide. According to a P&S Intelligence report, in 2018, the global electric bus charging station market reached a value of $6.6 billion and is projected to generate revenue of $12.3 billion by 2025, advancing at a 9.7% CAGR during the forecast period (2019–2025). Two types of chargers for electric buses are on-board and off-board.
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Recently, the requirement for ultra-fast charging stations has risen rapidly in order to decrease down the weight of the bus and reduce the charging time. These charging systems allow the power to be fed from the supply to the load in a cordless technique, which can further be charged flexibly in both static and dynamic ways. In addition to this, ultra-fast charging systems improve the performance of electric vehicles significantly as compared to the traditional plug-in chargers, which is why a number of companies around the world are focusing on the development of this type of electric charging for decreasing the effective bus charging time.
As mentioned above, China being the largest user of electric buses, Asia-Pacific is the largest electric bus charging station market and not North America. China accounts for about 99% of the total electric buses which are sold across the globe. This is creating a surging need for related infrastructure including bus charging stations in the country. In addition, the government in China has taken the initiative for installing 500,000 new public charging station 2015–2020 in order to further increase the adoption of electric buses.
Hence, the demand for electric bus charging stations is growing because of the rising adoption of electric buses.
