Market Size of Electric Bus Charging Infrastructure Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 2 Billion |
Market Size (2029) | USD 5.68 Billion |
CAGR (2024 - 2029) | 19.00 % |
Fastest Growing Market | Europe |
Largest Market | Asia Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Electric Bus Charging Infrastructure Market Analysis
The Electric Bus Charging Infrastructure Market size is estimated at USD 2 billion in 2024, and is expected to reach USD 5.68 billion by 2029, growing at a CAGR of 19% during the forecast period (2024-2029).
- At the beginning of 2020, the automotive goods and supply chain market were drastically impacted by COVID-19. Also, travel restrictions and lockdowns resulted in a slowdown in electric vehicle sales. However, the automotive industry is now recovering from the losses and paving the way to introduce quality products to cater to the rising demand from consumers across the region. The automotive industry witnessed significant growth in terms of the production of electric vehicles in 2022, which is likely to increase the demand for electric buses during the forecast period.
- Over the medium term, Growing electric vehicle charging infrastructure across the globe is likely to witness significant demand for electric buses across the major regions. The rapid expansion of electric bus manufacturers across the globe is likely to propel the market during the forecast period.
- The global adoption of stricter pollution regulations is expected to boost electric car sales throughout the projection period. To meet the growing demand for electric vehicles (EVs), manufacturers of automotive power modules have begun investing in expanding their production capacities, primarily in the Asia-Pacific region, which has the world's highest sales and export of vehicles, as well as the lowest tariff on EV parts among ASEAN countries.
- In September 2022, A pilot project through which the Ministry of Road Transport & Highways in India is developing EV charging stations across 5000km of the national highway is presently in its last stages of technical and commercial testing using electric buses on the Delhi-Jaipur line beginning September 9th, 2022. This will add a 278 km length to the previously performed 210 km trial run between Delhi and Agra in 2021, completing technical testing of a total of 500 miles across four states in its pilot phase: UP, Delhi, Haryana, and Rajasthan.
- Electric buses are becoming more financially viable with favorable policies, and they generate fewer maintenance costs with substantially reduced fuel costs. According to electric bus manufacturers, electric buses save USD 400,000 in fuel expenses and nearly USD 125,000 in maintenance costs, more than making up for the higher upfront cost.
- China and the United States registered higher adoption of electric buses. In the coming years, the above countries are expected to continue to deploy more electric buses, owing to strong encouragement from the governments, transit agencies, as well as other green vehicle-supporting communities and organizations.
Electric Bus Charging Infrastructure Industry Segmentation
An electric bus charging infrastructure is a kind of infrastructure that is specifically designed for the charging of electric buses. Onboard batteries, a hydrogen fuel cell, overhead wires, as in a trolleybus application, or ground-based non-contact conductors can be used as the power source.
The electric bus charging infrastructure market is segmented by Charging Type and Geography. By charging type, the market is segmented into plug-in charging and overhead charging. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
For each segment, the market sizing and forecast have been done based on the value (USD).
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Plug-in Charging | |
Overhead Charging |
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Electric Bus Charging Infrastructure Market Size Summary
The electric bus charging infrastructure market is poised for significant growth, driven by the increasing adoption of electric buses worldwide. This expansion is largely fueled by governmental initiatives aimed at reducing carbon emissions and promoting sustainable public transportation. The market is witnessing a surge in demand as countries like China, the United States, and India ramp up their efforts to electrify public transit systems. The shift from conventional diesel buses to electric buses is being accelerated by favorable policies, reduced maintenance costs, and substantial savings in fuel expenses. As a result, electric buses are becoming more financially viable, encouraging broader adoption across various regions.
The market landscape is characterized by strategic partnerships and investments from key players such as ABB Group, Proterra Inc., ChargePoint Inc., and Siemens AG, who are actively expanding their infrastructure capabilities. These companies are focusing on innovative solutions like wireless charging systems and clean energy microgrids to support the transition to electric fleets. The Asia-Pacific region, led by China, remains a dominant force in the market, with significant contributions from Europe and North America. As governments continue to implement supportive policies and invest in charging infrastructure, the electric bus charging infrastructure market is expected to experience robust growth, aligning with global efforts to achieve zero-emission transportation.
Electric Bus Charging Infrastructure Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Rising Adoption of Electric Buses
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1.2 Market Restraints
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1.2.1 High Upfront Investment
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value - USD Billion)
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2.1 Charging Type
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2.1.1 Plug-in Charging
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2.1.2 Overhead Charging
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Rest of North America
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 India
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2.2.3.3 Japan
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2.2.3.4 South Korea
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 Rest of the World
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2.2.4.1 South America
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2.2.4.2 Middle-East and Africa
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Electric Bus Charging Infrastructure Market Size FAQs
How big is the Electric Bus Charging Infrastructure Market?
The Electric Bus Charging Infrastructure Market size is expected to reach USD 2 billion in 2024 and grow at a CAGR of 19% to reach USD 5.68 billion by 2029.
What is the current Electric Bus Charging Infrastructure Market size?
In 2024, the Electric Bus Charging Infrastructure Market size is expected to reach USD 2 billion.