Europe Electric Bus Charging Station Market Report 2019-2025: Growing Preference for Overnight Charging Buses Over En-Route Charging Buses
DUBLIN, Sept. 19, 2019 /PRNewswire/ -- The "Europe Electric Bus Charging Station Market Research Report: By Type, Power, Charger, Regional Insight - Competitive Analysis and Industry Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Growing at a 17.8% CAGR during the forecast period, the European electric bus charging station market is estimated to generate a revenue of $697.7 million by 2025.
The inclusion of electric buses in the public fleet, implementation of government schemes and regulations favoring their usage, as well as the increasing investments in building electric bus charging infrastructure are driving the market growth.
Enormous inflows of investment for developing the charging station infrastructure are being witnessed by the European electric bus charging station market. Electric buses are being increasingly adopted in many countries as they have become affordable due to the implementation of different subsidy schemes. For instance, in 2018, the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety of Germany created an $82.7 million fund to encourage public transport operators to invest in electric and plug-in electric buses.
The categories of the European electric bus charging station market, based on power, are less than 50 kW, 50-150 kW, 151-450 kW, and more than 450 kW. In terms of volume, during the historical period, the less than 50 kW category dominated the market. However, the fastest growing category during the forecast period is expected to be the more than 450 kW category, due to the increasing requirement for faster charging of electric buses.
Based on type, the European electric bus charging station market is subdivided into opportunity charging, depot charging, and others. The largest market share in terms of volume, in 2018, was held by the opportunity charging category. The ease of functioning offered by this type of charging is driving the category's growth. These chargers not only reduce the downtime for charging, but also hasten the overall charging process, thereby resulting in the longer operating hours of the vehicle.
In the region, the government sector employs buses for transit services, military, and other purposes. Therefore, the European electric bus charging station market is highly reliant on government support. Countries across the region are highly motivated to include more electric buses in their transportation systems. For instance, the Netherlands' national plan, named Green Deal, plans to electrify the entire public transport fleet of more than 5,000 buses by 2025.
The European electric bus charging station market, during the historical period, was dominated by the U.K., which, in 2018, held a 20.0% market share in terms of volume. The increasing government support in the form of financial and non-financial incentives would aid in the faster adoption of these vehicles, which is expected to make the U.K. the dominating market in the forecast period as well.
Some of the prominent players in the European electric bus charging station market are Bombardier Inc., Schunk Carbon Technology, Ekoenergetyka-Polska Sp. z o.o., Heliox BV, Powerdale NV, and JEMA Energy SA.
Market Dynamics
Trends
- Growing preference for overnight charging buses over en-route charging buses
- Emergence of wireless charging systems
Drivers
- Government schemes and regulations
- Rise in uptake of electric buses in public fleet
- Growing investment toward electric bus charging infrastructure
- Impact analysis of drivers on market forecast
Restraints
- Lack of standardization
- High cost of equipment and installation
- Impact analysis of restraints on market forecast
Opportunities
- Incremental growth potential of the market
- Increasing need for the electric bus charging stations in private establishments
Company Profiles
- Ekoenergetyka-Polska Sp. z o.o.
- Heliox B.V.
- JEMA Energy S.A.
- Powerdale NV
- Schunk Carbon Technology
- Bombardier Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bxg0uk
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