Global Electric Bus Charging Infrastructure Market Report
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
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Impact of covid-19 on Global Electric Bus Charging Infrastructure Market
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.
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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.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by platform
Segmentation by charging
Key Companies Profiled
Q1. What is the size of the global electric bus charging infrastructure market?
A. The size of the global electric bus charging infrastructure market was over $1,893.3 million in 2021 and is projected to reach $18,754.3 million by 2030.
Q2. Which are the major companies in the electric bus charging infrastructure market?
A. Heliox, Liikennevirta Oy(Virta Global), and Nuvve Corporation are some of the key players in the global electric bus charging infrastructure market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The North America region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific electric bus charging infrastructure market?
A. North America region electric bus charging infrastructure market is anticipated to grow at 31.9% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Product launches and mergers & acquisitions are the two key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. ABB Ltd., Alstom SA, and BYD Auto Co. Ltd are the companies investing more on R&D activities for developing new products and technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
1.5.Market size estimation
2.2.Key objectives of the study
2.5.Overview of the impact of COVID-19 on global electric bus charging infrastructure market
4.2.Growth impact forces
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.7.Impact of COVID-19 on electric bus charging infrastructure market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Electric Bus Charging Infrastructure Market Analysis, by Platform
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region, 2022-2030
5.2.3.Market share analysis, by country, 2022-2030
5.3.1. Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region, 2022-2030
5.3.3.Market share analysis, by country, 2022-2030
5.4.Research Dive Exclusive Insights
6.Electric Bus Charging Infrastructure Market Analysis, by Charging Type
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region, 2022-2030
6.2.3.Market share analysis, by country, 2022-2030
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region, 2022-2030
6.3.3.Market share analysis, by country, 2022-2030
6.4.Research Dive Exclusive Insights
7.Electric bus charging infrastructure Market, by Region
18.104.22.168.Market size analysis, by Platform, 2022-2030
22.214.171.124.Market size analysis, by Charging Type, 2022-2030
126.96.36.199.Market size analysis, by Platform, 2022-2030
188.8.131.52.Market size analysis, by Charging Type, 2022-2030
184.108.40.206.Market size analysis, by Platform, 2022-2030
220.127.116.11.Market size analysis, by Charging Type, 2022-2030
7.1.4.Research Dive Exclusive Insights
18.104.22.168.Market size analysis, by Platform, 2022-2030
22.214.171.124.Market size analysis, by Charging Type, 2022-2030
126.96.36.199.Market size analysis, by Platform, 2022-2030
188.8.131.52.Market size analysis, by Charging Type, 2022-2030
184.108.40.206.Market size analysis, by Platform, 2022-2030
220.127.116.11.Market size analysis, by Charging Type, 2022-2030
18.104.22.168.Market size analysis, by Platform, 2022-2030
22.214.171.124.Market size analysis, by Charging Type, 2022-2030
126.96.36.199.Market size analysis, by Platform, 2022-2030
188.8.131.52.Market size analysis, by Charging Type, 2022-2030
7.2.6.Rest of Europe
184.108.40.206.Market size analysis, by Platform, 2022-2030
220.127.116.11.Market size analysis, by Charging Type, 2022-2030
7.2.7.Research Dive Exclusive Insights
18.104.22.168.Market size analysis, by Platform, 2022-2030
22.214.171.124.Market size analysis, by Charging Type, 2022-2030
126.96.36.199.Market size analysis, by Platform, 2022-2030
188.8.131.52.Market size analysis, by Charging Type, 2022-2030
184.108.40.206.Market size analysis, by Platform, 2022-2030
220.127.116.11.Market size analysis, by Charging Type, 2022-2030
18.104.22.168.Market size analysis, by Platform, 2022-2030
22.214.171.124.Market size analysis, by Charging Type, 2022-2030
126.96.36.199.Market size analysis, by Platform, 2022-2030
188.8.131.52.Market size analysis, by Charging Type, 2022-2030
7.3.6.Rest of Asia Pacific
184.108.40.206.Market size analysis, by Platform, 2022-2030
220.127.116.11.Market size analysis, by Charging Type, 2022-2030
7.3.7.Research Dive Exclusive Insights
18.104.22.168.Market size analysis, by Platform, 2022-2030
22.214.171.124.Market size analysis, by Charging Type, 2022-2030
126.96.36.199.Market size analysis, by Platform, 2022-2030
188.8.131.52.Market size analysis, by Charging Type, 2022-2030
184.108.40.206.Market size analysis, by Platform, 2022-2030
220.127.116.11.Market size analysis, by Charging Type, 2022-2030
18.104.22.168.Market size analysis, by Platform, 2022-2030
22.214.171.124.Market size analysis, by Charging Type, 2022-2030
7.4.5.Rest of LAMEA
126.96.36.199.Market size analysis, by Platform, 2022-2030
188.8.131.52.Market size analysis, by Charging Type, 2022-2030
7.4.6.Research Dive Exclusive Insights
8.1.Top winning strategies, 2021
8.3.Market share analysis, 2021
9.1.7.RESEARCH DIVE ANALYST VIEW
9.2.7.RESEARCH DIVE ANALYST VIEW
9.3.BYD Auto Co. Ltd
9.3.7.RESEARCH DIVE ANALYST VIEW
9.4.7.RESEARCH DIVE ANALYST VIEW
9.5.7.RESEARCH DIVE ANALYST VIEW
9.6.Furrer + Frey AG
9.6.7.RESEARCH DIVE ANALYST VIEW
9.7.7.RESEARCH DIVE ANALYST VIEW
9.8.7.RESEARCH DIVE ANALYST VIEW
9.9.7.RESEARCH DIVE ANALYST VIEW
9.10.7.RESEARCH DIVE ANALYST VIEW
10.1.Parent & peer market analysis
10.2.Premium insights from industry experts
Efficient charging infrastructure is a prerequisite while establishing an ecosystem of electric buses in the world community. The two main components of the charging infrastructure include power infrastructure and charging solutions. Charging infrastructure for electric buses are installed in commercial premises unlike cars and bike charging stations.
The EV bus charging stations are fundamentally fortified with large battery capacities and high charger output ratings ranging from 100 kWh to 200 kWh, and more. They also need charging software for various purposes, such as grid communication, load balancing, monitoring of operations, and demand management.
Factors Impacting the Growth of the Market
The global electric bus charging infrastructure market is expected to generate $18,754.3 million by 2030 and grow at a CAGR of 30.9% during the forecast period from 2022 to 2030. The main factors enhancing the growth of the electric bus charging infrastructure market include:
- Advancement of e-mobility services
- Increasing adoption of electric buses
- Formation of sustainable public transport infrastructure
The transition of the public transportation from hydrocarbon-based to electric public transportation is based upon three primary factors:
- Intensifying levels of pollution
- High dependence on public transportation
- Potential cost reductions for operational activities
Apart from these factors, the governments are making sincere attempts to minimize carbon emission by introducing varied incentive schemes to increase the purchase of electric buses. In addition, the pricing of the battery pack used in electric buses has been decreased to an affordable rate, which is speeding up the liking and demand for electric vehicles. Innovative business infrastructure, such as Battery-as-a-Service and addition of 5G networks are expected to definitely contribute to the growth of the electric bus charging infrastructure market.
Electric Bus Charging Infrastructure Market Trends and Developments
According to a report published by Research Dive, the topmost players of the global electric bus charging infrastructure market are ABB Ltd., Alstom SA, BYD Auto Co. Ltd, ChargePoint Inc., Efacec, Furrer + Frey AG, Heliox, Liikennevirta Oy(Virta Global), Nuvve Corporation, and Proterra.
These industry players are investing a lot of efforts on the research and development of smart and unique strategies to sustain the growth of the market. These strategies include product launches, mergers and acquisitions, collaborations, partnerships, and refurbishing of existing technology.
Some of the recent developments in the electric bus charging infrastructure market are as follows:
- In April 2020, BYD Company Ltd. (BYD), a Chinese manufacturing company, and Toyota Motor Corporation (Toyota), a Japanese multinational automotive producer, announced that they have completed the registration of a new company based on a previous agreement for the establishment of a joint venture company to perform research and development of battery electric vehicles (BEVs). The new company is named as BYD TOYOTA EV TECHNOLOGY CO., LTD. (BTET).
- In July 2020, Hitachi, a multinational conglomerate corporation based in Japan, finalized its acquisition of the major portion of the ABB Power Grids, a global tech leader, for building a new venture. This new venture is aimed at handling the renewable and distributed energy borderlines of the power industry.
- In December 2020, Efacec, a Portuguese company operating in energy, engineering, and mobility fields, launched its new products of Efacec Electric Mobility, for the first time.
- In February 2021, ChargePoint, Inc., a leading electric vehicle (“EV”) charging network, and Switchback Energy Acquisition Corporation, finalized a publicly merchandised special purpose attainment. The premeditated focus behind this merger is the acceleration of energy value chain.
- In June 2021, Macquarie’s Green Investment Group (GIG), a specialist developer, sponsor and investor with a mission to accelerate the green transition, partnered with Heliox B.V. (Heliox), a market leader in rapid charging solutions, passenger vehicles, serving e-bus and e-truck fleets, marine, port, mining and more, with an aim of transporting electric truck and bus (eTruck & eBus) charging substructure across European region. This partnership will introduce an innovative ‘charging-as-a-service’ model, by funding the construction of charging infrastructure and maintaining the charging facilities on behalf of customers.
Impact Analysis of Covid-19 on the Market
There are many factors impacting the global electric bus charging infrastructure market during the coronavirus pandemic. Like most of the other industries, this industry has also experienced a drastic decline during the pandemic. The main factors impacting the growth of the market can be termed as the ‘supply chain restrictions’ along with ‘the dropping demand of EV batteries’. Non-availability of the most important components for manufacturing of batteries, such as power electronics of charging infrastructure and lithium ion (Li-ion) batteries, are affecting the market in a drastic way.
However, as the restrictions on supply chain are being lifted with the reducing cases of coronavirus, the key players of the market have started research and development to enhance the growth of the electric bus charging infrastructure market by implementing latest technologies such as 5G.
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