U.S. electric bus charging station market to reach $221.5 million by 2025
P&S Intelligence publishes a new report that investigates the growth of the bus charging station market, and the differing categories within it.
Example of a bus being charged via a pantograph
According to a market research report published by P&S Intelligence, the electric bus charging station market in the U.S. is projected to reach $221.5 million by 2025.
The growth of the market is largely driven by the increasing demand of electric buses by local transit agencies, coupled with government favourable funding schemes that are developing charging infrastructure in the country.
Local governments, with the help of federal and state governments, are frequently integrating electric buses into their municipal or public transit fleets. It is these procurement initiatives and alike that are expected to drive the U.S. electric bus market, which in turn will benefit the charging station market.
The U.S. electric bus charging station market is categorised into plug-in charging, pantograph charging and inductive charging. The inductive charging station is expected to be the fastest growing category in the market during the forecast period. Manufacturers are collaborating with bus makers and public transit authorities to increase the adoption of electric bus charging stations. For instance, in March 2018, Momentum Dynamics and BYD Auto Co. Ltd. delivered a 50kW wireless charging bus station in Maryland. These decisions by major manufacturers are expected to greatly benefit the market.
The fast-charging category is expected to continue gaining strength within the market. It charges electric buses in approximately 30 minutes with a high-voltage direct current (DC) as compared to a slow-charging category which takes more than five hours. This makes the fast-charging category a better choice, supporting its rapid implementation in the U.S.
The U.S. electric bus charging station market is still in its nascent phase, with a few players operating within the country. Some of the major players in the market are ABB Ltd., Siemens Mobility GmbH, Proterra Inc., Advanced Vehicle Manufacturing (AVM) Inc., and APT Controls Ltd.