Various countries have now shifting towards mobility options that have less carbon emissions. As the awareness regarding the need for shifting to eco-friendly means is growing, people are widely opting for sustainable products. Owing to this, the penetration of electric vehicles has been growing considerably across the globe. While initially, electric cars and scooters have been in high demand, however, the adoption of electric buses has been growing as well all over the world, including the European region.
The fund was meant for the purchase of plug-in-hybrid electric buses and electric buses, along with the construction of the related electric charging infrastructure needed for the operation of these buses. Furthermore, at the cities and regional level transport organizations and manufacturers endorsed a common ambition for accelerating the rollout of electric buses, which was formalized by the signing of the European Clean Bus Deployment Initiatives.
The European electric bus charging station market is predicted to generate a revenue of $697.7 million by 2025, increasing from $221.2 million in 2018, progressing at a 22.4% CAGR during the forecast period (2019–2025). On the basis of type, the market is divided into opportunity charging, depot charging, and others, out of which, the opportunity charging division held the major share of the market in 2018. These chargers facilitate reduced downtime for charging, expedite the overall charging process, and have easy functioning.
Geographically, the U.K. dominated the European electric bus charging station market, in terms of volume. The country is widely focusing on the establishment of a green mobility solution, and is accelerating the electrification of public transport. Moreover, the rate of adoption of electric buses is considerably in the country, owing to the support that is being offered by the government in the form of non-financial and financial incentives for procuring these vehicles and for developing related infrastructure.
In conclusion, the market is being driven by the growing adoption of electric vehicles and increasing government support.
