U.S. Electric Bus Charging Station Market Overview
U.S. electric bus charging station market report. As per an article on Bloomberg, the number of electric buses in operation in the U.S. rose from 300 in 2018 to 650 in 2019, and by 2045. This number would increase to more than 35,000! As per the International Energy Agency (IEA). Carbon emissions in the country stood at 4,766.4 million tonnes of carbon dioxide equivalent (Mt of CO2e) in 2019. The second-highest in the world, after China. Moreover, as per the Environmental Protection Agency (EPA). The transportation sector of the country is the largest carbon emitter, accounting for 28% of all emissions in 2018.
This is why the federal, state, and county governments are trying to electrify their public transport with the addition of electric buses. P&S Intelligence considers this to be the most important factor that would drive the U.S. electric bus charging station market from $20.9 million in 2018 to $184.5 million by 2025, at a monumental 37.1% CAGR between 2019 and 2025 (forecast period). Just like conventional buses need gas stations, electric buses need charging stations, also known as electric vehicle supply equipment (EVSE).
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Instead of solely an internal combustion engine (ICE), electric vehicles (EVs) have an electric motor. Either working on its own or in conjunction with the ICE. Both ways, EVs lead to significantly lower operational carbon emissions than conventional vehicles. Which is why the government support to EV manufacturers and buyers is pretty strong in the country. Further, heavier the vehicle and more powerful the engine, higher are the carbon emissions. Which is why the electrification of buses is being considered more important than of motorcycles and cars.
Off-board and on-board are the bifurcations in the U.S. electric bus charging station market. On the basis of charger, of which the off-board bifurcation held the larger share in 2018. With the charger located outside the bus. The vehicle weight can be reduced significantly in order to lower their energy consumption and enable them with a higher range from a battery of the same energy capacity. The preference for higher-range buses is also reflected in the increasing popularity of buses that support the depot charging method. For this, the buses need to have larger batteries that can support longer driving distance, which is important for intercity and interstate journeys.
The charging itself can be slow or fast; slow chargers mostly use AC, while fast chargers exclusively use high-voltage DC. Slow chargers can take up to 5 hours to fully charge a bus, while with DC fast chargers. The task can be accomplished in under 30 minutes, depending on the bus model and battery capacity. For transit buses, which need to travel almost continuously during the day. Fast chargers are a boon, as they minimize the downtime, thereby allowing transit companies to maximize the ride revenue.
Seeing the increasing demand for electric buses, several new domestic and overseas players are entering the U.S. electric bus charging station market. As electrification is being considered the future of transportation, both private and public. Presently, the well-established companies engaged in deploying EVSE in the U.S. are Siemens Mobility GmbH, ABB Ltd.,Heliox B.V., APT Controls Ltd.,Advanced Vehicle Manufacturing (AVM) Inc., and Proterra Inc. These companies are not only signing contracts with public and private transit agencies for charging station installation, but also innovating their products for higher penetration.
Thus, with the strong government support for the adoption of electric buses in the U.S., the installation rate of EVSE shows a vast potential to increase in the years to come.
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