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Hefty Investments Fueling Electric Bus Charging Station Construction in Europe

10-18-2021 04:47 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Europe Electric Bus Charging Station Market Report by P&S Intelligence

Europe Electric Bus Charging Station Market Report by P&S Intelligence

The development of charging infrastructure for electric buses in Europe is highly dependent on government support, asthe government sector deploys buses for public transport, military, and transit services. Various subsidy schemes are being introduced by different governments to promote the adoption of electric buses in the public fleet. Resultingly, governments and private companies in Europe are making huge investments forthe development of charging stations and otherinfrastructure for electric buses.

For instance, in 2018,the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety(BMU) invested $82.7 million in Germany to support public transport operators with procuringplug-in hybrid and electric buses and inthe development of the associated charging infrastructure.Owing to such strongsupport, the European electric bus charging station market will witness a CAGR of 17.8% during 2019–2025. The market was valued at $221.2 million in 2018, and it is projected to reach $697.7 million by 2025.

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The increasing adoption of electric buses can be owed to the surging consciousness regarding environmental degradation. This hasled to the implementation of international regulations, like the Paris Climate Agreement, which is committed to the global transition toward a low-carbon economy. With the coming in force of this agreement, the European Union (EU) is also working toward achieving a low-carbon economy, by encouraging the adoption of new-energy vehicles. Within the continent, local bodies, transport organizations, and manufacturers are endorsing a common objective to accelerate the rollout of electric buses, for which the European Clean Bus Deployment Initiative has been formalized.

With the burgeoning number of electric buses, Europe is focusing on the establishment of depot charging and opportunity charging stations. In the recent past, theregion laid more emphasis on opportunity charging stations as compared to depot charging stations, as the former expedite the overall charging process and reduce the downtime of the buses. However, in the coming years, the adoption rate of depot charging stations will escalate on account of the rising preference for overnight charging buses. The large-scale deployment of such buses can be owed to their similar operational characteristics to diesel buses.

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The charging stations are available with a power output of 450 kW. Presently,

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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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