Global Electric Bus Charging Infrastructure Market by Platform (Depot and On-the-Go), Charging Type (On-Board and Off-Board), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030

Global Electric Bus Charging Infrastructure Market Analysis

The global electric bus charging infrastructure market size was $1,893.3 million in 2021 and is predicted to grow with a CAGR of 30.9% by generating a revenue of $18,754.3 million by 2030.

Global Electric Bus Charging Infrastructure Market Synopsis

Electric bus has the potential to revolutionize the world's transportation industry, which helps for drastically decreasing carbon emissions. The shift to electric buses (e-buses) gives an opportunity to transform the cities to zero-emission transportation. These electric buses includes the important component such as charging station and infrastructure. E-buses have the potential to provide a number of benefits, including increased energy efficiency and quality of air, as well as long-term climate change mitigation which is preferred by most of people. In electric bus system charging efficiency (if better than 60–84%) and a cleaner power grid helps to enhance the future benefits of electric buses. Thus the use of electric buses technology in urban public transportation fleets is increasing rapidly. All these aspects are estimated to drive the electric bus charging infrastructure market growth and demand during the analysis period.

Despite these advantages, financial factors, such as the greater costs involved with the shift to e-buses. The adoption of electric vehicles and the construction of the necessary infrastructure are expected to be hampered by a number of factors, including high upfront infrastructure costs, poor consumer understanding, false perceptions, and possible long-term effects of the COVID-19 pandemic. Cities are trying to minimize pollution and traffic congestion are more interested in using electric bus. Electric bus potentially brings benefits such as lower maintenance cost, higher performance, lower emissions, and energy supplies. These factors are anticipated to boost the electric bus charging infrastructure industry growth in the upcoming years.

According to regional analysis, the Asia-Pacific electric bus charging infrastructure market accounted for highest market share in 2021 and is predicted to grow significantly in the projected timeframe. This is because in Asia-Pacific region, the use of electric bus charging infrastructure as a good alternative in transportation is under large-scale development as well as government funding schemes and growing demand for clean mobility for electrification of community transport as a result the number of electric bus charging infrastructure - buses in Asia-Pacific region is increasing rapidly.

Electric Bus Charging Infrastructure Overview

The establishment of a sufficient and effective charging infrastructure is a requirement for integrating the ecosystem of electric buses into the public transportation infrastructure. Two essential parts of the charging infrastructure are charging solutions and power infrastructure. Electric buses fully rely on commercial charging infrastructure, unlike other vehicle categories like cars and two-wheelers that may have "home" charging infrastructure that means charging points installed at domestic premises.

COVID-19 Impact on Global Electric Bus Charging Infrastructure Market

The COVID-19 pandemic has brought several uncertainties leading to severe economic losses in various businesses. This has ultimately lowered the demand for electric bus charging infrastructure due to disruptions in supply chain, closure of manufacturing plants, as well as economic slowdown across several countries. In addition, the import-export restrictions were laid down on major electric bus charging infrastructure producing countries such as the U.S. and Europe.

For instance, U.S. electric bus manufacturers witnessed the most severe impact of COVID-19 in 2020. Moreover, the electric bus faced the highest impact in terms of sales and acquisition of new projects due to which the electric bus charging infrastructure demand reduced significantly. Several electric bus projects were postponed or cancelled due to shortage of raw materials, labors, fear of contracting the COVID-19 virus among workers, as well as travel restrictions.

However, disruptions in the exports of automotive parts from China as well as closure of automotive assembly and manufacturing units have hampered the electric bus charging infrastructure market share during the pandemic. For instance, in September 2020, NFI Group Inc. is one of the world's top independent global bus manufacturers, has provided two pilot buses to Metro Transit as part of a contract given to New Flyer for 14 Xcelsior CHARGE battery-electric, sixty-foot heavy-duty transit buses. To support the deployment, Bi-State Development, the operator of Metro Transit, granted New Flyer Infrastructure Solutions TM an $8.72 million contract for the development of battery-electric bus charging infrastructure. These initiatives are predicted to drive the electric bus charging infrastructure market size during the analysis timeframe.

Advancement of E-Mobility Services and Increase in the Number of Electric Buses Likely to Drive the Market Growth

E-mobility is now regarded as the most promising technology for lowering transportation exhaust emissions. Electric buses are rapidly replacing traditional diesel-powered buses. Various governments throughout the world are taking initiatives to replace their petroleum-based bus fleets with electric bus. To increase the usage of electric vehicles, some countries provide incentives and impose limitations. Several key drivers have fuelled the worldwide electric bus charging infrastructure industry, most notably rising government funding schemes and greater government objectives for mainstream bus electrification. Furthermore, governments are implementing various programmes to encourage the usage of green energy-powered electric buses. In Shenzhen, the public transportation system was able to reduce its use of fossil fuels by 95%. The CO2 emissions from Shenzhen's e-buses were reduced by 15-20% even after accounting for emissions from the National Grid of China.

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High Investment Involved With the Deployment of Electric Bus Charging Infrastructure Systems to Restrain the Growth of the Global Industry

High initial investments necessary for fast-charging infrastructure, as well as the requirement for more advanced batteries are some of the constraints that may limit market revenue growth to some extent. Charging time for electric bus is longer than charging time for fossil fuel bus, particularly for Level 1 and 2 charging, there is no uniformity in charging compatibility. This electric buses are more expensive than fossil fuel-powered buses. These are all major factors that could impede revenue growth in the electric bus charging infrastructure market.

Regulatory Measures and Government Push to Create Sustainable Public Transport Infrastructure across the World to Foster the Growth of Electric Bus Charging Infrastructure

In recent times, electric bus have a number of potential benefits over standard diesel buses along with these environmental advantages, e-buses can also 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. Global urban transitions municipal bus fleet electrification offers a chance to lower greenhouse gases in the transportation sector while also providing benefits to the towns and nations to switch towards electric bus. To overcome the challenges to electric bus acceptance, innovative approaches and bus implementation will be required.

To know more about global electric bus charging infrastructure market opportunities, get in touch with our analysts here.

Global Electric Bus Charging Infrastructure Market Share, By Platform

Based on platform, the market has been divided into depot and on the go. Among these, on –the-go sub-segment accounted for the highest market share in 2021 whereas the sub-segment is estimated to show the fastest growth during the forecast period.

Global Electric Bus Charging Infrastructure Market Size, By Platform, 2021

Source: Research Dive Analysis

The on-the-go sub-type is accounted to have a dominating market share and fastest growth in 2021. On-the-go charging can assist buses to run constantly. Due to the fact that the stop in the middle of an unfinished trip, on-the-go i.e. on route charging is a time-constrained procedure. It eliminates the need to return to a depot for prolonged periods of time to charge, on-the-go charging enables electric buses to run longer on the road. This is to be the best option for routes for buses that travel farther distances and cannot take extended breaks for charging. The fact that on-the-go charging is typically performed at greater power rates (up to 500kW), which is faster but may result in expensive utility demand charges and higher operational expenses.

Global Electric Bus Charging Infrastructure Market Trends, by Charging Type

Based on charging type, the market has been divided into on-board and off-board. Among these, the off-board sub-segment accounted for highest revenue share in 2021.

Global Electric Bus Charging Infrastructure Market Value, by Charging Type, 2021

Source: Research Dive Analysis

The off-board sub-segment: is accounted to have a dominating market share in 2021. The power subsystem of an off-board direct current (DC) charger is often designed to transfer more kilowatts of electricity than AC current (AC) chargers, requiring an even more sophisticated battery management system (BMS) mostly on plug-in hybrid electric vehicle (PHEV). DC (Direct Current) Fast Charging —"DC Fast Charging" is high-power charging with power provided by an off-board (off-vehicle) chargers at variable power voltages and currents. Different power levels are feasible with DC, however for electric bus charging, electricity is commonly delivered at 200-450V at a rate of up to 90 kW.

Global Electric Bus Charging Infrastructure Market Trends, Regional Insights

The electric bus charging infrastructure market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Electric Bus Charging Infrastructure Market Size & Forecast, By Region, 2021-2030 (USD Million)

Source: Research Dive Analysis

The Market for Electric Bus Charging Infrastructure in Asia-Pacific to be the Most Dominant

The Asia-Pacific electric bus charging infrastructure market is accounted to have a dominating market share in 2021. The demand for electric bus charging infrastructure in the Asia-Pacific region is driven by stringent emission norms & regulations, the development of charging infrastructure, and supporting government policies is to be important drivers of the Asia-Pacific electric bus charging infrastructure market over the next five years.

The Asia-Pacific electric bus charging infrastructure market is predicted to grow over the next five years due to the growing demand for clean mobility and the availability of alternative public transportation alternatives. The government has announced tax breaks and subsidies for electric bus purchases, as well as incentives for electric bus manufacture, which is favorably boosting the growth of the Asia-Pacific electric bus charging infrastructure market. For instance, Under CESL, the Government of India sanctioned USD 10 billion in August 2022 to acquire 50000 electric buses by 2030. The Delhi Transport Corporation (DTC) has stated that it plans to add 8000 electric buses to its fleet by 2025.

Competitive Scenario in the Global Electric Bus Charging Infrastructure Market

Product launches and mergers & acquisitions are common strategies followed by major market players. For instance, in June 2022, ABB E-mobility Company launched its largest DC fast charger production site in Italy. ABB E-mobility has strengthened its position as the market leader in EV charging solutions with the opening of the E-mobility Centre of Excellence in Valdarno, Tuscany. It is the company's largest DC fast charger production site.

Source: Research Dive Analysis

Some of the leading electric bus charging infrastructure  market players are ABB Ltd., Alstom SA, BYD Auto Co. Ltd, ChargePoint Inc., Efacec, Furrer + Frey AG, Heliox, Liikennevirta Oy(Virta Global), Nuvve Corporation, and Proterra among others. Moreover, electric bus charging market share is accounted by key players namely ChargePoint Inc., Heliox, and BYD Auto Co. Ltd.