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. Technavio predicts that revenue from 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 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.
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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.
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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 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)
·
Kehua Hengsheng Co Ltd (China)
·
XCharge Inc (Germany)
·
Alpitronic GmbH (Italy)
·
JEMA ENERGY (Spain)
·
Ekoenergetyka (Poland).
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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