Why is Government Support Crucial for Italian Electric Bus Charging Station Market?
A fund of
$4,371.6 million was allocated by the Italian government to convert the bus
fleet in its major urban and semi-urban pockets to those running on new energy,
such as electricity. The investment for the period between 2019 and 2033 has
been provided considering the strong need to reduce the emission of greenhouse
gases (GHG) and other toxic gases from vehicles, as they are the primary
culprit in the quickly degrading air quality in the country. Additionally, the
national government submitted a proposal on an integrated energy and climate
plan to the European Union in 2018, which puts a special emphasis on low- or
no-emission transport.
With such
policies and other financial incentives, the sale of electric buses will
increase substantially in the country. Moreover, even the local administrations
of Milan, Cagliari, Turin, and other cities in the nation have set targets for
converting their public transport system to one which is driven by clean
energy. With the rising sale of electric buses, the Italian electric bus charging station
market is expected to witness a robust increase in its size,
from $12.3 million in 2018, to $44.8 million by 2025, at a 20.3% CAGR between
2019 and 2025. Also known as the electric vehicle supply equipment (EVSE), such
systems are required to charge the batteries of electric buses.
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There are
majorly two types of EVSE being deployed for buses in the country: overnight
and opportunity. Of them, overnight charging stations are more popular in the
Italian electric bus charging station market, as the buses which are charged by
such systems are similar in operation to diesel buses, which every public and
mass-transit company in Italy is familiar with. However, in recent times, the
popularity of opportunity charging stations has risen, because the buses which
use these stations have a smaller battery than those requiring overnight
charging. With a smaller battery, the bus can not only be made lighter, but
cost-effective too.
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Thus, with
the increasing procurement of electric buses in Italy, driven by government
subsidies and emission-reduction policies, the installation rate of EVSE will
continue accelerating in the coming years.
Market
Segmentation by Type
- Overnight Charger
- Opportunity Charger
Market
Segmentation by Power
- <22 kW
- 22–50 kW
- 51–150 kW
- >150 kW
Market
Segmentation by Charger
- On-Board
- Off-Board
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