Global Electric Bus Pantograph Charger Market Size to grow CAGR of 17% by 2030
The Global Electric Bus Pantograph Market Size to increase in value from its 2021 market value of USD 1970.74 million to USD 5437.6 million by 2030, representing a CAGR of around 17% over the forecast period (2022 - 2030), according to a research report published by Spherical Insights & Consulting. Key Companies Covered in the Bus Pantograph Charger Market Research are Electrify America LLC., ChargePoint, Royal Dutch Shell PLC, Hangzhou AoNeng Power Supply Equipment Co., Ltd., Blink Charging, Siemens AG, Shell, BYD, ABB, Tesla and others 20+ prominent key players we have added in the final report. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the report.
New York, United States , Nov. 23, 2022 (GLOBE NEWSWIRE) -- The* Global Electric Bus Pantograph Charger Market Size *value is estimated to rise from USD 1970.74 million in 2021 to USD 5437.6 million in 2030, indicating a CAGR of over 17% over the forecast period (2022 - 2030). Battery-powered buses are often charged using a pantograph, which automatically establishes contact between the bus and the infrastructure for charging. There are presently two methods for contacting us. The pantograph can be positioned on the infrastructure for charging and moved downward when a charge is required, or it can be placed on the top of the electric bus and lifted.
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The market for infrastructure for electric bus charging is expanding significantly as a result of rising government initiatives. Governments are launching more measures to electrify transportation in an effort to achieve clean air targets and reduce greenhouse gas emissions. These facilities and charging stations for electric cars and trucks have helped to increase the market.
Leading electric utility companies work with electric car manufacturers to develop charging stations that are appropriate for electric cars. Sales of electric vehicles (EVs) are increasing, which increases the demand for efficient charging infrastructure. As part of smart city initiatives, plans to build the infrastructure for electric public transit are multiplying. Due to the shortage and rising cost of fuel, electric vehicles are now regarded as the finest alternative transportation solutions. Because of the escalating environmental issues made worse by the usage of fossil fuels like gasoline and diesel, governments encourage the use of EVs. The need for charging stations is boosted by these factors as well as the numerous advantages EVs have over conventional fuel-powered cars.
Lack of necessary resources and infrastructure to meet the escalating demand for power restricts the market's ability to grow. In tandem with efforts to lower greenhouse gas emissions, the use of governmental limitations to stop environmental pollution has grown.
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*Some Key Developments Offered in the Global Electric Bus Pantograph Market Report:*
*In May 2022=* The San Diego Metropolitan System developed an overhead electric bus charging system costing USD 8.5 million that can simultaneously charge 24 battery-electric buses.
*In April 2022=* It has been announced by Transports Metropolitans de Barcelona (TMB) that the purchase of up to 83 battery-operated electric buses has started. In 2023, these buses will replace diesel-powered vehicles whose useful lives have come to an end.
*In April 2022=* The agreement, which was signed by Solaris Bus & Coach sp. z o.o. and the board of the Grudzidz-based operator Miejski Zakad Komunikacji, called for the delivery of 17 electric buses. The offer covers both the delivery of the cars as well as that of the pantograph chargers and other charging apparatus.
*In November 2021=* The novel charging station with bus-down pantograph has been installed as part of a trial project by the subsidiary Mosgortrans urban surface public transport provider and the Department of Transport and Road Infrastructure Development of Moscow.
*COVID-19 Impact on the Global Electric Bus Pantograph Market*
Lockdowns and other limitations during the first half of 2020 restricted demand from the transportation sector and other associated industries, which had a negative impact on the bus pantograph charger market. The market scenario has gotten worse as a result of supply chain issues and delays in electric bus projects. However, the bulk of producers and EV charging service providers did continue pantograph charger production in small batches and with important safety safeguards. Additionally, since the second half of 2020, sales of electric buses have greatly increased; this trend is likely to continue during the anticipated year. Through the course of the projected period, this is anticipated to draw attention to the sector.
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*Global Electric Bus Pantograph Market, By Charging Type*
The market is divided into Level 1, Level 2, and Direct Current Fast Charging (DCFC) segments based on the kind of charging.
*Global Electric Bus Pantograph Market, By Component Type*
The transportation sector is responsible for 23% of energy-related CO2 emissions, according to the International Energy Agency. Growing populations and pollution in crowded urban areas have somewhat changed how people move around, boosting the adoption of electric vehicles.
*Global Electric Bus Pantograph Market, By Charging Infrastructure*
Onboard charging is the market segment that caters to the highest proportion of users. Alternating current is used to produce, transmit, and distribute electricity in any country (AC). However, direct current must be used to charge the batteries of electric vehicles (DC). The vehicle's onboard charger, which converts AC power to DC and enables the battery to be charged, receives electricity from the AC charging station while using the onboard charging technique.
*Global Electric Bus Pantograph Market, By Region*
Asia-Pacific has the largest market for electric vehicles globally due to its falling reliance on fossil fuels and worries about CO2 emissions and other air pollution. Additionally, government programmes that support the usage of battery-powered vehicles, such tax benefits, are doing so (BEVs). Additionally, China, India, Japan, and South Korea are actively working to enhance their institutional cooperation, interpersonal communication, and charging infrastructure in the next years.
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*Key Companies & Recent Developments: *The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Profiles of major market players operating in Electric Bus Pantograph market are Bombardier Inc (Canada), Kempower OY (US), SCHUNK Group (Germany), ChargePoint Inc (US), Proterra (US), Kehua Hengsheng Co.Ltd (China), Shijiazhuang Tonhe Electronics Technologies Co. Ltd (China), XCharge Inc (Germany), Daimler AG (Germany), Bombardier Inc (Canada).
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