PUBLISHER: Allied Market Research | PRODUCT CODE: 1193300
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193300
The global electric bus charging infrastructure market size is envisioned to garner $18,754.3 million by 2030, growing from $1,893.3 million in 2021 at a CAGR of 30.9% from 2022 to 2030.
Electric buses are essential to reduce greenhouse gas emissions and it can offer a sufficient solution for environmental sustainability. Bus fleet electrification (BFE) has garnered a lot of interest in academic and industrial circles. The Chinese government is working really hard to promote ecotourism. Better safety regulations, having a charging station at work, fast charging options, government incentives, and affordable electric bus charging is anticipated to fuel the use of electric buses and are further predicted to boost the growth of the global electric bus charging station infrastructure market.
Besides slower AC chargers in level 1 and level 2 charging stations, high installation costs, and potential issues with level 3 charger performance in cold climates are predicted to limit global demand for EV charging station infrastructure.
The advent of solar PV, shorter charging times (100 miles in six minutes), and increased public awareness are anticipated to support the growth of the global electric bus charging station infrastructure market demand. In the near future, energy storage and the transfer of electricity from buses to the grid during blackouts may open up new opportunities for the global market for infrastructure supporting electric bus charging stations.
The COVID-19 pandemic brought several uncertainties, leading to severe economic losses as various businesses across the world were on a standstill. There were import-export restrictions laid down on major electric bus infrastructure producing countries such as the U.S. and China, which imposed significant challenges on the market. However, since April 2020, the government of India has been implementing the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) subsidy plan that is FAME-II, which provides a capital subsidy of Rs. 35-55 lakh per bus. These initiatives are predicted to drive the electric bus charging infrastructure market size during the analysis timeframe.
The key players profiled in this report include ABB Ltd., Alstom SA, BYD Auto Co. Ltd, ChargePoint Inc., Efacec, Furrer + Frey AG, Heliox, Liikennevirta Oy (Virta Global), Nuvve Corporation, and Proterra.
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