Global Electric Bus Charging Station Market is Set to Reach USD 11.4 billion by 2024

The global electric bus charging station market is projected to reach USD 11.4 billion by 2024, registering a CAGR of 9.5% during the forecast period. Increasing adoption of electric buses in public transportation system, supporting government initiatives and schemes, and growing investment towards charging station infrastructure are the major factors leading to the growth of the global electric bus charging station market.

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On the basis of type, the global electric bus charging station market is divided into depot charging, opportunity charging, and inductive charging. Of all, the depot charging category accounted for the largest share in 2018 in terms of sales volume. This is attributed to the increasing demand of private and public transport agencies towards overnight charging buses, depot charging stations have more similar operational characteristics to diesel buses.

The global 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.

Some of the key players operating in the global electric bus charging station market are Bombardier Inc., Schunk Carbon Technology, Ekoenergetyka-Polska Sp. z o.o., Heliox B.V., JEMA Energy S.A., Powerdale NV., ABB Ltd., Siemens AG, GH Energy Inc., China Potevio Co. Ltd., Qingdao TGOOD Electric Co. Ltd., Star Charge, Advanced Vehicle Manufacturing Inc., and Proterra Inc.

Source: VynZ Research