The European electric bus charging station market is projected to reach USD 581.9 million by 2024, registering a CAGR of 17.4% during the forecast period. Supporting government initiatives and schemes, and growing investment towards charging station infrastructure are the major factors leading to the growth of the European electric bus charging station market.
Off-board category accounted for the larger revenue share in the electric bus charging station market
Based on charger, the European electric bus charging station market is categorized into off-board and on-board chargers, wherein off-board category accounted for larger share in 2018, in terms of volume. The category is expected to lead throughout the forecast period. Electric bus manufacturers able to reduce the weight of the buses and makes it lighter, with the help of off-board station. This will result in fast charging at higher power levels.
On the basis of type, the European electric bus charging station market is divided into depot charging, opportunity charging, and others. Among these categories, the opportunity charging category accounted for largest share in 2018 in terms of sales volume. However, the depot charging category is expected to witness fastest growth during the forecast period due to the increasing preference for overnight charging buses among private and public agencies.
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Primary factor for the growth of the European electric bus charging station market is increasing number of electric buses in the public transport
The European electric bus charging station market is predominantly dependent on government support, funds, and schemes. Government sector use buses for public transport, military, transit services, and other purposes. Various countries across the region are focusing more on increasing the number of electric buses in their transportation systems. Moreover, local governments in the countries are adopting electric buses into their municipal or public transit fleets. For instance, the European Commission supported a Europe-wide electromobility initiative, Green eMotion, worth €41.8 million (USD 46.9 million), in partnership with forty-two partners from industry, utilities, electric vehicle manufacturers, municipalities, universities and technology and research institutions.
Some of the key players operating in the European electric bus charging station market are Bombardier Inc., Schunk Carbon Technology, Ekoenergetyka-Polska Sp. z o.o., Heliox B.V., JEMA Energy S.A., and Powerdale NV.
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million) and volume (Units). The report segments the Europe electric bus charging station market on the basis of charger, type, power, and country.
Europe Electric Bus Charging Station Market Coverage
Charger Insight and Forecast 2014-2024
Type Insight and Forecast 2014-2024
Power Insight and Forecast 2014-2024
Electric Bus Charging Station Market by Country