Global Electric Bus Charging System Market 2018-2022
About Electric Bus Charging System
An electric bus charging system is a combination of a charging port and electric vehicle supply equipment to a charging station, which is specifically designed to charge electric busses.
Technavio’s analysts forecast the global electric bus charging system market to grow at a CAGR of 32.83% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric bus charging system market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric Bus Charging System Market 2018-2022
Technavio recognizes the following companies as the key players in the global electric bus charging system market: ABB, ALSTOM, Furrer+Frey, Heliox, PROTERRA, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing emergence of contactless and wireless charging systems. Contactless or wireless type of electric bus charging is being developed by various companies to charge electric bus batteries effectively. For instance, in 2017, Toshiba has developed a wireless charger for electric buses that can charge the vehicle’s electric battery using magnetic resonance system.”
According to the report, one driver in the market is rising popularity of electric buses. The growth of the global electric bus charging system market directly depends on the sales of electric buses. Increase in the production and sales of electric buses will drive the market during the forecast period.
Further, the report states that one challenge in the market is high cost and complexity of installing electric bus charging systems. Electric bus charging systems require planning and high amount of funding to be operational. High cost of installation combined with technical difficulties of installing substations to provide large amounts of power to electric buses, requirement for increased grid capacity to accommodate increased power requirements in a region, limited availability of space for constructing charging stations in the cities, and government approvals for constructing charging stations are the major complexities challenging the installation of additional electric bus charging systems in the region.