The Bus pantograph charger was valued at USD 1970.74 million in 2021 and is expected to reach USD 5437.6 million by 2027 registering a CAGR of around 17% during the forecast period (2022 - 2027).
The COVID-19 pandemic had negative impact on the bus pantograph charger market for first half of the year 2020, as lockdowns and restrictions resulted in reduced demand from transportation and other associated sectors. Further, delay in electric bus projects and supply chain disruptions worsened the situation in the market. However, the majority of the automakers and EV charging providers resumed pantograph charger’s production with limited production and necessary measures. Further, the sales of electric buses witnessed significant growth since latter half of the year 2020 and is likely to continue during the forecast period. This is anticipated to drive the market in focus during the forecast period.
Over the medium term, the demand for pantograph chargers expected to be picked up by growing adoption of electric buses not only for transit but also for school children transportation across major countries in the world. Further, growing governments investments and their focus on improving charging infrastructure expected to drive demand in the market during the forecast period.
In addition, key players investments and growing strategic colloborations between charging solution providers and bus manufacturers anticipated to offer new opportunities for players operating in the market. There is a surge in the utilization of electric bus charging system, owing to the decreasing cost of batteries. The growing efforts to reduce greenhouse gas (GHG) emissions, along with the rise in favorable government regulations likely to enhance growth of market over forecast period.
North American region expected to grow at significant rate during the forecast period woing to rising adoption of electriv buses across major countries in the region. Further, China, India expected to contribute for growth in Asia-Pacific region owing to strong encouragement from the governments, transit agencies, as well as other green vehicle supporting communities and organizations.
On-board bottom-up pantograph segment of the market studied is estimated to occupy major share as on-board charging solution is a fast-charging system mainly used for the charging of electric buses in cities with existing DC networks, such as for tramways. Further, these on-board bottom-up pantograph on electric buses can be used to charge e-buses where they stop for few minutes i.e these pantographs are deployed for quick charge while standing across red light traffic signals, parking areas, stoppages, while travelling on same route having overhead powerlines, etc. Such infrastructure is also favored due to its vehicle-to-grid reactive power capabilities, and hence the demand expected to rise over forecast period.
Owing to such benefits, consumer inclination especially charging service providers and bus manufacturers expected to grow over forecast period and so as to capture such growing market share several key companies are offering on-board bottom-up pantographs. For instance,
Factors attributed to driving the growth of this segment include increasing adoption of electric buses across China, Europe, and the United States over the past years. The Government of the U.S. is actively participating to increase the number of electric buses in its transportation system. For instance,
Such developments are expected to continue over the forecast period and hence likely to create a positive outlook for the market.
North America is expected to play key role in the growth of market over the forecast period. Further, United states likely to one of the major contributor of growth in region owing to several government initiatives and growing popularity of electric school buses across the country. Further, the demand for electric buses across North American region anticipated to be supported by growing adoption of governments, municipalities, etc. For instance,
Such active growth in North American region is encouraging several key players and the players in electric bus infrastructure projects to adopt pantographs, thus driving demand for bus pantograph chargers over the forecast period. For instance,
Therefore, based on above mentioned developments and instances it is estimated that North American region likely to have fastest growth compared to its counterparts over the forecast period.
Some of the leading electric bus charging infrastructure market players are ABB Ltd., Wabtec corporation, Schunk Transit Systems GmBH, BYD, and others, The bus pantograph charger market is considered to be moderately consolidated one and accounted several global players and regional players. Product innovation, joint ventures, and acquisitions of smaller players, and product launches are the key strategies deployed by the major players. For instance,
Apart from these strategies, bus pantograph chargers are entering into supply agreements with key bus manufacturers and charging stations providers to strengthen their position in the market. For instance,
1 INTRODUCTION 1.1 Study Assumptions 1.2 Scope of the Study 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY 4 MARKET DYNAMICS 4.1 Market Drivers 4.2 Market Restraints 4.3 Industry Attractiveness - Porter's Five Forces Analysis 4.3.1 Threat of New Entrants 4.3.2 Bargaining Power of Buyers/Consumers 4.3.3 Bargaining Power of Suppliers 4.3.4 Threat of Substitute Products 4.3.5 Intensity of Competitive Rivalry 5 MARKET SEGMENTATION (Market Size in Value - USD Million) 5.1 By Charging Type 5.1.1 Level 1 5.1.2 Level 2 5.1.3 Direct Current Fast Charging 5.2 By Pcomponent Type 5.2.1 Hardware 5.2.2 Software 5.3 By Charging Infrastructure Type 5.3.1 Off-board top-down pantograph 5.3.2 On-Board Bottom-Up Pantograph 5.4 Geography 5.4.1 North America 5.4.1.1 United States 5.4.1.2 Canada 5.4.1.3 Rest of North America 5.4.2 Europe 5.4.2.1 Germany 5.4.2.2 United Kingdom 5.4.2.3 France 5.4.2.4 Italy 5.4.2.5 Spain 5.4.2.6 Rest of Europe 5.4.3 Asia-Pacific 5.4.3.1 India 5.4.3.2 China 5.4.3.3 South Korea 5.4.3.4 Japan 5.4.3.5 Rest of Asia-Pacific 5.4.4 Rest of the world 5.4.4.1 South America 5.4.4.2 Middle-East and Africa 6 COMPETITIVE LANDSCAPE 6.1 Vendor Market Share 6.2 Company Profiles* 6.2.1 ABB Ltd 6.2.2 Schunk Transit Systems GmBH 6.2.3 Wabtech Corporation 6.2.4 Siemens Mobility 6.2.5 Vector Informatik GmbH 6.2.6 SETEC POWER 6.2.7 SCHUNK GmbH & Co. KG 6.2.8 Valmont Industries, Inc. 6.2.9 Comeca Group 7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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