NEW YORK, Oct. 04, 2018 (GLOBE NEWSWIRE) -- In a release issued under the same topic on October 1, 2018 by P&S Intelligence, please note that in the headline and the first paragraph, the U.S. electric bus charging station market size for 2025 will be $221.5 million, which was mistakenly mentioned as $221.5 billion.
The corrected release follows:
According to the market research report published by P&S Intelligence, U.S. electric bus charging station market is projected to reach $221.5 million by 2025, the growth of the market is majorly driven by the increasing demand of electric buses by local transit agencies coupled with government favourable funding schemes to develop charging infrastructure in the country. Local governments with the help of federal and state governments, are integrating electric buses into their municipal or public transit fleets. Such procurement initiatives are expected to drive the U.S. electric bus market which in turn will benefit the electric bus charging station market in the country.
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On the basis of product, the U.S. electric bus charging station market is categorized into plug-in charging, pantograph charging, and inductive charging. Inductive charging station is expected to be the fastest growing category in the market during the forecast period. Manufacturers are collaborating with the bus makers and public transit authorities to increase adoption of electric bus charging station in the states. For instance, in March 2018, Momentum Dynamics and BYD Auto Co. Ltd. delivered a 50 kW wireless charging bus station in Maryland. These moves by major manufacturers are expected to benefit the market during the forecast period.
Browse report overview with 30 tables and 20 figures spread through 100 pages and detailed TOC on "U.S. Electric Bus Charging Station Market by Product (Plug-In Charging, Pantograph Charging, Inductive Charging), by Connector (J1772, CCS), by Charger (Off-Board, On-Board), by Charging (Fast Charging, Slow Charging) – Market Size, Share, Development, Growth, and Demand Forecast, 2016–2025" at: https://www.psmarketresearch.com/market-analysis/us-electric-bus-charging-station-market
On the basis of charging, fast charging category is expected to remain the faster growing category during the forecast period. It charges electric buses in approximately 30 minutes with a high-voltage direct current (DC) as compared to a slow charging category which takes more than 5 hours. This benefit makes the fast charging category a better choice supporting its rapid implementation in the U.S. electric bus charging station market.
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The U.S. electric bus charging station market is still in its nascent phase, with a few players operating within the country. Some of the major players in the market are ABB Ltd., Siemens Mobility GmbH, Proterra Inc., Advanced Vehicle Manufacturing (AVM) Inc., and APT Controls Ltd.
More Reports by P&S Intelligence
Electric Vehicle Charging Station Market - https://www.psmarketresearch.com/market-analysis/electric-vehicle-charging-station-market
Intelligent Transportation System Market - https://www.psmarketresearch.com/market-analysis/intelligent-transportation-system-market
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