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Growth Rate of U.S. Electric Bus Charging Station Market

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As the concerns regarding pollution around the globe are surging, governments of several countries are focusing on solutions which may help to deal with the deal with the situation. One of the ways to curb pollution levels is the adoption of electric vehicles. Along with encouraging the adoption of electric vehicles for personal use, governments are also trying to electrify the public transport fleets of their countries. Owing to this, the demand for electric buses in the U.S. is growing rapidly. In the government sector, buses are utilized for military, transit services, and public transport along with several other purposes.

The U.S. government is trying to deploy as many electric buses as possible in the transportation system of the country. For example, transit operators in Los Angeles and Seattle have committed to convert the entire traditional bus fleets to electric buses. Electric vehicles however cannot function properly if adequate charging infrastructure is not available, because of which the requirement for electric bus charging stations in the U.S. is increasing as well. Ascribed to these factors, the U.S. electric bus charging station market is predicted to generate $184.5 million by 2025, increasing from $20.9 million in 2018, advancing at a 37.1% CAGR during the forecast period (2019-2025).

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These are preferred more, despite their high overhead cost, because of their vehicle-to-grid reactive power capability. Furthermore, they also allow manufacturers to reduce the weight of electric buses, which, in turn, enables faster charging at higher power level. The demand for electric bus charging stations in the U.S. is rising rapidly, which is also leading to the growth of the U.S. electric bus charging station market. Fast charging stations have the capability to charge an electric bus with a high-voltage direct current in about 30 minutes in comparison to slow charging stations, which take over 5 hours for charging a bus.

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