United State Electric Bus Charging Stations Market Projections, Opportunities & Growth Factors Analyzed until 2025

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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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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.

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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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