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Electric Bus Charging Infrastructure Market Report

RA08421

Electric Bus Charging Infrastructure Market by Charging Type (On board and Off Board), Platform (Depot and Opportunity (Top Down and Inverted)), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA08421

Pages: 165

Jul 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Electric Bus Charging Infrastructure Market

Global Electric Bus Charging Infrastructure Market Analysis

The global electric bus charging infrastructure market is predicted to garner $5,922.2 million in the 2021–2028 timeframe, growing from $1,684.4 million in 2020 at a high CAGR of 17.7%.

Market Synopsis

Rise in the number of electric buses, introduction of Battery-as-a-Service model (offering charging and swapping of batteries to e-bus owners), and promotion of e-mobility services by governments across the world to reduce carbon footprint in transportation sector are the major factors anticipated to drive the electric bus charging infrastructure market.

However, high manufacturing costs of electric buses and deployment of electric bus charging infrastructure systems may restrain the growth of the global industry during the forecast period.

According to the regional analysis of the market, the North America electric bus charging infrastructure market is anticipated to grow at a CAGR of 18.9% by generating a revenue of $ 1,204.6 million during the review period.

Electric Bus Charging Infrastructure Overview

To establish the ecosystem of electric buses as a part of public transportation infrastructure, setting up of adequate and efficient charging infrastructure is a prerequisite. Charging solutions and power infrastructure are two key components of the charging infrastructure. Unlike other vehicle segments such as cars and two wheelers, which might have ‘home’ charging infrastructure facility (charging points installed at residential premises), electric buses completely rely on commercial charging infrastructure. Charging infrastructure is essentially equipped for large battery capacities and high charging output ratings (100 kWh, 200 kWh, or more). Moreover, the infrastructure incorporates charging software for load balancing, demand management, grid communication, and monitoring of operations. For instance, Vector Informatik GmbH, an automotive electronics provider, is instrumental in offering vCharm charging software solutions for electric vehicle fleets, charge point operators, and charging station manufacturers.  

Impact Analysis of COVID-19 on the Global Electric Bus Charging Infrastructure Market

The novel coronavirus emerged in 2019 and significantly impacted people across the world socially, economically, and politically. In 2020, the novel COVID-19 pandemic had slightly impeded the growth of the global electric bus charging infrastructure market. The epidemic affected the global supply chain in the form of trade restrictions, due to which the availability of lithium ion (Li-ion) batteries and power electronics (essential components required for charging infrastructure) got restricted across the world. Global electric vehicle sales in important areas, including Europe and the United States, dropped dramatically as the impact of COVID-19-related lockdowns spread during the first quarter of 2020. Consumer demand for vehicles in automotive industry fell, upstream and downstream supply chains got disrupted, and government lockdown restrictions resulted in the curtailment of the original equipment manufacturers (OEMs) and battery manufacturers. Moreover, due to the increased uncertainty in the automotive market, European and American automakers postponed Asian lithium ion (Li-ion) battery shipments in the year 2021.

Electric vehicle manufacturers, especially those in China already announced the launch of various 5G capable cars. Even though most of them have been postponed due to the COVID-19 pandemic, they are expected to hit the market sometime in 2021. These include Guangzhou Automobile Corporation, SAIC Group, BAIC Group, and Human Horizon. These efforts and developments undertaken by governments worldwide is anticipated to propel the growth of the market over the forecast period.

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

The progressive transition from hydrocarbon-based to electric public transportation is being driven by three key factors: rising pollution levels, high reliance on public transportation, and possible operational cost reductions. As per the industry data, the global total number of e-buses is anticipated to expand by 300% from 386,000 in 2017 to about 1.2 million in 2025, with China accounting for the major share of the total market. Governments are attempting to meet emission targets set forth in various worldwide agreements and have established a variety of incentive schemes to promote the purchase of electric vehicles. For instance, the U.S. offers subsidy ranging from $1,500-6,000 and tax credits up to $7,500 on purchase of new plug in electric vehicles (PEVs). Moreover,  decrease in the battery pack pricing used in electric buses is expected to encourage widespread adoption of electric vehicles. Furthermore, future growth of e-bus charging infrastructure is likely to be driven by 5G rollouts and innovative business models such as Battery-as-a-Service.

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

High Cost involved with the Deployment of Electric Bus Charging Infrastructure Systems to Restrain the Growth of the Global Industry

High upfront infrastructure costs, lack of consumer understanding and incorrect perceptions, pressure from oil companies and vehicle manufacturer lobby, and probable long-term impacts of the COVID-19 pandemic are some of the major anticipated hurdles for electric vehicle adoption and infrastructure installation. Not only charging stations across the world are limited, but they are also made by manufacturers all over the world and lack a common charging and payment method. Many operators and automakers have created specialized solutions for their proprietary systems, which rely on closed digital memberships or operator-specific cards, for receiving payments for vehicle charging. These approaches are relatively restrictive, and thus fail to meet the needs of a larger market. However, understanding the current inefficiencies, operators are now adopting payment solutions based on tried-and-true procedures. For instance, in 2019, Allego B.V., smart charging solutions provider, installed charging stations in the UK that were outfitted with Near Field Communication (NFC) payment technology, allowing users to start a charging session and pay for it with a digital wallet, contactless card, or smart wearable device. 

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

Transportation sector, which contributes for 3 to 5% of global CO2 emissions, has become focal point of legislative efforts to reduce carbon emissions and develop sustainable transportation infrastructure. New electric trucks and buses may reduce CO2 emissions of the transportation sector by 30% by 2030, according to European Union. By 2025, the United States alone is expected to acquire 330,000 public charging stations and $4.7 billion in overall electric vehicle (EV) infrastructure expenditure including passenger and commercial vehicles. Similarly, more than 40 cities throughout the world have begun to prohibit the use of diesel and gasoline internal combustion engine (ICE) trucks. These developments undertaken vis-à-vis sustainable mobility solutions is anticipated to boost the market growth of electric bus charging infrastructure.

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

Electric Bus Charging Infrastructure Market
By Charging Type

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Based on charging type, the electric bus charging infrastructure market has been sub-segmented as off board and on board, of which the off board sub-segment is projected to generate the maximum revenue with the fastest growth during the forecast period.

Source: Research Dive Analysis

The off board sub-segment is predicted to have a dominating market share in the global market with a revenue of $898.0 million in 2020 and register a revenue of $3,374.1 million during the forecast period, growing at a CAGR of 18.7%. Off-board direct current (DC) charger's power subsystem is typically intended to transfer greater kilowatts of power than alternating current (AC) chargers, necessitating a more sophisticated battery management system (BMS) on the plug-in hybrid electric vehicle (PHEV). Furthermore, it removes a large amount of weight from the PHEV, potentially increasing the vehicle's overall efficiency.

The on board sub-segment is predicted to have a substantial market share in the global market with a revenue of $ 786.4 million in 2020 and register a revenue of $ 2,548.1 million during the forecast period growing at a CAGR of 16.5%. Owing to fundamental advantages of on board chargers including less concern about battery heating, and flexibility of recharging at any place are likely to aid the sub-segment’s growth. However, restraints such as low power transfer (3.3KW and 6.6KW) and excess weight on e-bus may hamper the growth of the market sub-segment. 

Electric Bus Charging Infrastructure Market
By Platform

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Based on platform, the market has been bifurcated into Depot and opportunity. Further, opportunity charging is divided into top-down and inverted charging. Among the mentioned sub-segments, the opportunity sub-segment is predicted to show the fastest growth and Depot platform sub-segment is expected to garner a dominant market share.

Source: Research Dive Analysis

The opportunity sub-segment of the global electric bus charging infrastructure market is projected to have the fastest growth and surpass $2,855.2 million by 2028, with an increase from $714.6 million in 2020. Opportunity charging is an ultra-fast charging solution at turn-around location of the bus route, without any schedule change. It enables buses to run with significant passenger capacity every day at a remarkable cost. These advantages and benefits are anticipated to propel the sub-segment’s growth over the forecast period.

Moreover, inverted pantograph in opportunity sub sub-segment is anticipated to witness a rapid growth and surpass $1,875.8 million by 2028. Instead of being fixed on the roof of the bus, the inverted pantograph is integrated into the existing bus depot infrastructure which aids the charging of electric buses seamlessly. Owing to ease and efficient charging solution offered by inverted pantographs, the sub-segment’s growth is likely to propel over the forecast period.

The depot sub-segment of the global electric bus charging infrastructure market is projected to register a substantial revenue of $3,067.0 million by 2028, with an increase from $969.8 million in 2020. The depot chargers are necessary for bus fleets that are stationed at depots. With growing public investment in infrastructure of transportation sector by various governments across countries, the market for depot is anticipated to grow in coming years. 

Electric Bus Charging Infrastructure Market
By Region

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

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 systems market accounted $835.8 million in 2020 and is projected to register a revenue of $2,807.1 million during the forecast period. Asia-Pacific region is expected to dominate the global electric bus charging system market on account of strong presence of leading original equipment manufacturers (OEMs) of both buses and batteries such as BYD Auto Co., Ltd., a Chinese automobile manufacturer. By the end of January 2019, BYD Auto Co Ltd. had delivered out around 50,000 electric buses to its customers across 300 cities around the world. This region contributes more than 70% to the global technologically advanced electric buses.

Competitive Scenario in the Global Electric Bus Charging Infrastructure Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Electric Bus Charging Infrastructure Market

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. Also, electric bus charging market is highly consolidated and accounted by few major players. Product innovation, joint ventures, and acquisitions of smaller players are the key strategies deployed by the major players.

In March 2021, Nuvve Holding Corp., a provider of charging and grid services and Spirii, a provider of charging solutions for e-vehicles, decided to implement vehicle-grid integration (VGI) technology across the Nordics, Denmark, and Northern Europe. The partnership will enable combination of both companies platforms to offer V1G and V2G grid services and customer offers for e-vehicle (EV) fleets.

In June 2021, ChargePoint Inc., the U.S. base electric vehicle infrastructure company, launched the comprehensive EV charging solution range available for fleets of all types and sizes. The launch of ChargePoint's AC/DC quick charging solutions, along with fleet management software, is aimed at harmonizing charging costs with operational readiness for light and heavy-duty vehicles throughout at-home, depot, and on-route, charging.
 

Porter’s Five Forces Analysis for the Global Electric Bus Charging Infrastructure Market:

  • Bargaining Power of Suppliers: In the case of e-bus infrastructure, there is a limited amount of localization in terms of manufacturing charging components. Currently, most of the countries import the charging components, including batteries and power electronics. Given the limited domestic supply of numerous high-value components, international suppliers currently have stronger bargaining power. 
    Thus, the bargaining power of the suppliers is high.
  • Bargaining Power of Buyers: There are a few big OEMs producing and offering electric buses and charging infrastructure. Customers in all charging infrastructure categories will have medium bargaining power as long as there are hurdles to electric bus adoption, such as standard protocols, regulatory policies, and high upfront costs. 
    Thus, the bargaining power of the buyers is moderate.
  • Threat of New Entrants: Electric vehicles pose a threat to the global auto industry. The enormous money and technological resources required to enter the charging infrastructure are significant barriers.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: Electric buses are anticipated to be the efficient key mode of transportation as alternative to other vehicles such as buses, metros, buses, trains, and flights. Alternative modes of transportation are not a significant factor that could impact sales of electric vehicles including buses since governments being instrumental in adopting sustainable and emission free mode of transportation. 
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: There are few key market players controlling the substantial share in the electric bus charging system market. They are aggressively investing in the EV segment, leveraging their financial strength and market reach across the world wherein they will face fierce competition from each other and any new EV entrant entering the market.
    Therefore, the competitive rivalry in the market is high. 

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Charging Type

  • On Board
  • Off Board

  Segmentation by Platform

  • Depot
  • Opportunity
    • Top Down
    • Inverted

  Key Companies Profiled

  • ABB Ltd.
  • Alstom SA
  • BYD Auto Co. Ltd
  • ChargePoint Inc.
  • Efacec
  • Furrer + Frey AG
  • Heliox
  • Liikennevirta Oy
  • Nuvve Corporation
  • Proterra

Frequently Asked Questions
 

A. The size of the global electric bus charging infrastructure market was over $ 1,684.4 million in 2020 and is projected to reach $ 5,922.2 million by 2028.

A. The electric bus charging market share is accounted by key players namely ChargePoint Inc., Heliox, BYD Auto Co. Ltd, ABB Ltd., Alstom SA, BYD Auto Co. Ltd, Efacec, Nuvve Corporation, Siemens, Furrer + Frey AG, Liikennevirta Oy, and Proterra.

A. The North America region possesses great investment opportunities for investors to witness the most promising growth in the future. E-bus charging infrastructure has been leading investment opportunity after electric car charging stations.

A. Asia-Pacific electric bus charging infrastructure market is anticipated to grow at 17.0% CAGR during the forecast period.

A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.

A. ABB Ltd., Nuvve Corporation, and ChargePoint Inc. are investing more on R&D activities for developing new products and technologies.

A. Yes, ABB Ltd. offers a complete EV charging station solutions from high quality, compact AC wallboxes, DC fast charging stations with robust connectivity, to innovative on-demand e-bus charging systems.

A. There are various ways of charging an electric bus with the aid of an Electric Vehicle Service Equipment (EVSE). Buses are frequently charged using wired connections, which can be either AC or DC. If a bus has an on-board charger, it can be charged using AC charging technology. However, chargers for DC charging are located outside of the vehicle. The most common method of charging buses is to employ 50kW or higher DC plug-in charging technology.

A. The best EV charging networks installed across the world are Tesla, ChargePoint, EVgo, and Electrify America.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By type trends
2.3.By application type trends
2.4.By function type trends 
2.5.By end-user trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.By platform
3.8.2.By mobility

3.9.Strategic overview

4.Electric Bus Charging Infrastructure Market, by Charging Type

4.1.On Board

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Off Board

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

5.Electric Bus Charging Infrastructure Market, by Platform

5.1.Depot

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Opportunity

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

6.Electric Bus Charging Infrastructure Market, by Region

6.1.North America

6.1.1.Market size and forecast, by charging type, 2020-2028
6.1.2.Market size and forecast, by platform, 2020-2028
6.1.3.Market size and forecast, by country, 2020-2028
6.1.4.Comparative market share analysis, 2020 & 2028
6.1.5.U.S.

6.1.5.1.Market size and forecast, by charging type, 2020-2028
6.1.5.2.Market size and forecast, by platform, 2020-2028
6.1.5.3.Market size and forecast, by country, 2020-2028
6.1.5.4.Comparative market share analysis, 2020 & 2028

6.1.6.Canada

6.1.6.1.Market size and forecast, by charging type, 2020-2028
6.1.6.2.Market size and forecast, by platform, 2020-2028
6.1.6.3.Market size and forecast, by country, 2020-2028
6.1.6.4.Comparative market share analysis, 2020 & 2028

6.2.Europe

6.2.1.Market size and forecast, by charging type, 2020-2028
6.2.2.Market size and forecast, by platform, 2020-2028
6.2.3.Market size and forecast, by country, 2020-2028
6.2.4.Comparative market share analysis, 2020 & 2028
6.2.5.Germany 

6.2.5.1.Market size and forecast, by charging type, 2020-2028
6.2.5.2.Market size and forecast, by platform, 2020-2028
6.2.5.3.Market size and forecast, by country, 2020-2028
6.2.5.4.Comparative market share analysis, 2020 & 2028

6.2.6.UK

6.2.6.1.Market size and forecast, by charging type, 2020-2028
6.2.6.2.Market size and forecast, by platform, 2020-2028
6.2.6.3.Market size and forecast, by country, 2020-2028
6.2.6.4.Comparative market share analysis, 2020 & 2028

6.2.7.Netherlands

6.2.7.1.Market size and forecast, by charging type, 2020-2028
6.2.7.2.Market size and forecast, by platform, 2020-2028
6.2.7.3.Market size and forecast, by country, 2020-2028
6.2.7.4.Comparative market share analysis, 2020 & 2028

6.2.8.Rest of Europe

6.2.8.1.Market size and forecast, by charging type, 2020-2028
6.2.8.2.Market size and forecast, by platform, 2020-2028
6.2.8.3.Market size and forecast, by country, 2020-2028
6.2.8.4.Comparative market share analysis, 2020 & 2028

6.3.Asia-Pacific

6.3.1.Market size and forecast, by charging type, 2020-2028
6.3.2.Market size and forecast, by platform, 2020-2028
6.3.3.Market size and forecast, by country, 2020-2028
6.3.4.Comparative market share analysis, 2020 & 2028
6.3.5.China

6.3.5.1.Market size and forecast, by charging type, 2020-2028
6.3.5.2.Market size and forecast, by platform, 2020-2028
6.3.5.3.Market size and forecast, by country, 2020-2028
6.3.5.4.Comparative market share analysis, 2020 & 2028

6.3.6.Japan 

6.3.6.1.Market size and forecast, by charging type, 2020-2028
6.3.6.2.Market size and forecast, by platform, 2020-2028
6.3.6.3.Market size and forecast, by country, 2020-2028
6.3.6.4.Comparative market share analysis, 2020 & 2028

6.3.7.India 

6.3.7.1.Market size and forecast, by charging type, 2020-2028
6.3.7.2.Market size and forecast, by platform, 2020-2028
6.3.7.3.Market size and forecast, by country, 2020-2028
6.3.7.4.Comparative market share analysis, 2020 & 2028

6.3.8.Rest of Asia Pacific

6.3.8.1.Market size and forecast, by charging type, 2020-2028
6.3.8.2.Market size and forecast, by platform, 2020-2028
6.3.8.3.Market size and forecast, by country, 2020-2028
6.3.8.4.Comparative market share analysis, 2020 & 2028

6.4.LAMEA

6.4.1.Market size and forecast, by charging type, 2020-2028
6.4.2.Market size and forecast, by platform, 2020-2028
6.4.3.Market size and forecast, by country, 2020-2028
6.4.4.Comparative market share analysis, 2020 & 2028
6.4.5.Chile 

6.4.5.1.Market size and forecast, by charging type, 2020-2028
6.4.5.2.Market size and forecast, by platform, 2020-2028
6.4.5.3.Market size and forecast, by country, 2020-2028
6.4.5.4.Comparative market share analysis, 2020 & 2028

6.4.6.Columbia  

6.4.6.1.Market size and forecast, by charging type, 2020-2028
6.4.6.2.Market size and forecast, by platform, 2020-2028
6.4.6.3.Market size and forecast, by country, 2020-2028
6.4.6.4.Comparative market share analysis, 2020 & 2028

6.4.7.Qatar

6.4.7.1.Market size and forecast, by charging type, 2020-2028
6.4.7.2.Market size and forecast, by platform, 2020-2028
6.4.7.3.Market size and forecast, by country, 2020-2028
6.4.7.4.Comparative market share analysis, 2020 & 2028

6.4.8.Rest of LAMEA

6.4.8.1.Market size and forecast, by charging type, 2020-2028
6.4.8.2.Market size and forecast, by platform, 2020-2028
6.4.8.3.Market size and forecast, by country, 2020-2028
6.4.8.4.Comparative market share analysis, 2020 & 2028

7.Company profiles

7.1.ABB Ltd.

7.1.1.Business overview
7.1.2.Financial performance
7.1.3.Product portfolio
7.1.4.Recent strategic moves & developments
7.1.5.SWOT analysis

7.2.Alstom SA

7.2.1.Business overview
7.2.2.Financial performance
7.2.3.Product portfolio
7.2.4.Recent strategic moves & developments
7.2.5.SWOT analysis

7.3.BYD Auto Co. Ltd

7.3.1.Business overview
7.3.2.Financial performance
7.3.3.Product portfolio
7.3.4.Recent strategic moves & developments
7.3.5.SWOT analysis

7.4.ChargePoint Inc.

7.4.1.Business overview
7.4.2.Financial performance
7.4.3.Product portfolio
7.4.4.Recent strategic moves & developments
7.4.5.SWOT analysis

7.5.Efacec

7.5.1.Business overview
7.5.2.Financial performance
7.5.3.Product portfolio
7.5.4.Recent strategic moves & developments
7.5.5.SWOT analysis

7.6.Furrer + Frey AG

7.6.1.Business overview
7.6.2.Financial performance
7.6.3.Product portfolio
7.6.4.Recent strategic moves & developments
7.6.5.SWOT analysis

7.7.Heliox

7.7.1.Business overview
7.7.2.Financial performance
7.7.3.Product portfolio
7.7.4.Recent strategic moves & developments
7.7.5.SWOT analysis

7.8.Liikennevirta Oy (Virta Global)

7.8.1.Business overview
7.8.2.Financial performance
7.8.3.Product portfolio
7.8.4.Recent strategic moves & developments
7.8.5.SWOT analysis

7.9.Nuvve Corporation

7.9.1.Business overview
7.9.2.Financial performance
7.9.3.Product portfolio
7.9.4.Recent strategic moves & developments
7.9.5.SWOT analysis

7.10.Proterra

7.10.1.Business overview
7.10.2.Financial performance
7.10.3.Product portfolio
7.10.4.Recent strategic moves & developments
7.10.5.SWOT analysis

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.

A Few Aspects Initiating the Growth of the Market

The main factors enhancing the growth of the global 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:

  1. Intensifying levels of pollution,
  2. High dependence on public transportation,
  3. 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 market.

Recent Trends of the Market

According to a report published by Research Dive, the topmost players of the global electric bus charging infrastructure market are ChargePoint Inc., Alstom SA, Proterra, ABB Ltd., BYD Auto Co. Ltd, Liikennevirta Oy(Virta Global), Efacec, Heliox, Furrer + Frey AG, Nuvve Corporation, and many more.

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 of the market are as follows:

  • As per a recent release, 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.
     
  • A new report states that 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).
     
  • Efacec, a Portuguese company operating in energy, engineering, and mobility fields, launched its new products of Efacec Electric Mobility, for the first time, in December 2020. 
     
  • 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 is going to introduce an innovative ‘charging-as-a-service’ model, by funding the construction of charging infrastructure and maintaining the charging facilities on behalf of customers.

  • 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.

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 market by implementing latest technologies such as 5G.  

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