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U.K. Electric Bus Charging Station Market Trends and Growth Forecast to 2025

From valuing $13.3 million in 2018, the U.K. electric bus charging station market is expected to garner $95.5 million in revenue by 2025, registering a 30.7% CAGR during the forecast period (2019u20132025).

Rahul_Gautam
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U.K. Electric Bus Charging Station Market Trends and Growth Forecast to 2025

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  1. U.K. Electric Bus Charging Station Market Trends and Growth Forecast to 2025 From valuing $13.3 million in 2018, the U.K. electric bus charging station market is expected to garner $95.5 million in revenue by 2025, registering a 30.7% CAGR during the forecast period (2019-2025). The major factors having a positive influence on the market are the inclusion of electric buses in public fleet and the increase in government initiatives in popularizing these buses and providing the required infrastructure. Charging stations, also known as electric recharging points that are used to recharge an electric bus's batteries are termed as electric bus charging stations. Based on type, the classifications of the U.K. electric bus charging station market are opportunity and overnight chargers. Request to Get the Sample Report@https://www.psmarketresearch.com/market-analysis/uk-electric-bus-charging-station-market/report-sample In 2018, with more than 95.0% sales volume, the market was led by overnight chargers due to their popularity among public and private transport agencies for charging buses overnight as these buses have larger batteries to operate over longer distances. Further, the falling prices of batteries have also contributed in their demand as they are now competitively priced with opportunity charging buses. On the basis of power, theelectric bus charging station market in UKis categorized into <50 kW, 50150 kW, and >150 kW. The largest market share in 2018 was held by the <50 kW category.

  2. The main reason behind the popularity of these chargers was their cost compared to chargers of higher power ranges. In the forecast period, the highest CAGR is projected to be witnessed by the >150 kW category. This can be credited to the rising demand for larger batteries, which would take longer to charge, thereby driving the demand for more powerful chargers. The major opportunity for growth for the U.K. e-bus charging station market lies in the surging demand for wireless charging of electric buses. Even though the initial installation cost of wireless charging infrastructure is high, these charging systems are becoming popular among users. A depot charger takes about 4-8 hours for charging the battery of an electric bus, whereas a conductive charger only takes 5-7 minutes to charge the same battery. This particular type of charger uses cordless technique and can effectively decrease the off-road time while traveling. Therefore, the market for electric bus charging station in the country is headed toward a bright future in the forecast period amidst rising environmental concerns.

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