According to a new report published by Allied Market Research, titled, โElectric Bus Charging Infrastructure Market,โ The electric bus charging infrastructure market was valued at $1.9 billion in 2021, and is estimated to reach $18.8 billion by 2030, growing at a CAGR of 30.9% from 2022 to 2030.
Electric vehicles have the potential to transform the worldโs transportation economy, substantially reducing carbon emissions and opening the door to significant climate gains. Electric bus charging systems connect the plug-in electric vehicle to an electrical outlet to charge the vehicleโs battery. Furthermore, to address the increased demand for electric buses, a number of automakers and electric component manufacturers are collaborating in order to develop enhanced electric bus charging systems.
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Governments are launching large-scale initiatives to promote the use of green energy-powered electric buses. E-mobility is now widely regarded as the most promising technology for reducing transportation emissions. Electric buses are rapidly replacing traditional diesel-powered buses, outpacing battery-powered automobile adoption. According to Bloomberg New Energy Finance, by 2030, 28% of car sales will be electric vehicles, while 84% of new buses will be electric buses. These factors are responsible for the growth of the market.
Some of the disadvantages of electric bus charging infrastructure include that buses find it more challenging to operate overnight if necessary as it takes considerable time for the batteries to charge. Buses can only go up to 250 km on a fully charged battery before having to stop and re-charge it for several hours or minutes. These factors restrain the growth of the market.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/electric-bus-charging-infrastructure-market/purchase-options
Market players have a lot of room to grow as a result of rise in demand for private electric bus charging infrastructure. Since many hospitality service providers offer electric bus charging facilities at their locations, this has increased competition in the hospitality sector. Additionally, many multinational corporations offer charging stations as part of their infrastructure which is projected to create a substantial opportunity for growth of the companies that design and install charging infrastructure. Electric buses have a number of potential benefits over standard diesel buses. Along with these environmental advantages, e-buses can 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. These factors are anticipated to boost the market growth in the upcoming years.
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Based on platform, the on-the-go sub-segment emerged as the global leader in 2021, and the depot sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
Based on charging type, the off-board sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years.
Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.
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The key players profiled in the electric bus charging infrastructure market 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. Moreover, electric bus charging market share is accounted by key players namely ChargePoint Inc., Heliox, and BYD Auto Co. Ltd.
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