Electric Bus Charging Station Market Growth, Business Strategies, and Regional Outlook The global electric bus charging station market is predicted to advance at a CAGR of 9.7% from 2018 to 2025 and generate a revenue of $12.3 billion in 2025. The key factors fueling the expansion of the market are the increasing implementation of various government regulations and initiatives in many countries, the rising deployment of electric buses in public transport fleets, and the soaring investments being made in the development of electric bus charging stations all over the world.

Based on type, the electric bus charging station market is categorized into inductive charging, depot charging, and opportunity charging. Out of these, the depot charging category had the highest sales volume in the past years, on account of the high preference of private and public transport agencies and companies toward overnight charging electric buses. These buses have very similar operational characteristics to diesel buses and are thus, highly preferred by transport companies. In the past years, the costs of the batteries installed in these buses were significantly higher than that of the ones installed in opportunity charging buses, on account of the larger sizes of these batteries. However, in recent years, the prices of these batteries have reduced considerably, which has, in turn, pushed up the sales of the overnight charging buses. The global electric bus charging station market is heavily reliant on government support. In a majority of the countries around the world, government buses are mainly used for transit services, military transport, and public transport. The decisions to buy electric buses are mostly made either at the state level or the federal level. Many countries have made strong commitments in various international forums of increasing the number of electric buses in their transport fleets. As a result, many governments are implementing policies and granting subsidies, grants, and tax rebates for pushing up the deployment of electric buses in public transport fleets. For example, Columbus, the capital city of the U.S. state of Ohio, aims to deploy 200 electric vehicles in its municipal fleet and develop charging stations for these vehicles in the coming years. Globally, the electric bus charging station market registered the highest growth in the Asia-Pacific (APAC) region during the last few years. This was because of the rapid surge of the electric bus industry in China. In recent years, the country saw the sales of 99.0% of the total number of electric buses sold all over the world. This subsequently created a huge requirement for electric bus charging facilities and infrastructure in the country and caused the boom of the market in the country in the past few years.

Increasing Use of AI in Transportation Firms Reducing Operation Costs The advent of autonomous vehicles has led to the wide-scale integration of artificial intelligence (AI) technology in the transportation sector. AI is a primary technology for autonomous driving systems, as it is the only technology that allows real-time and reliable identification of objects around the vehicle. Owing to the burgeoning demand for autonomous vehicles, leading automotive original equipment manufacturers (OEMs) are making hefty investments in the advancement of autonomous technology for optimizing self-driving technology. Moreover, the soaring focus of transportation companies on reducing their operational costs will help the AI in transportation market advance at a CAGR of 16.5% during 2018–2023. The market was valued at $1.4 billion in 2017 and it is expected to reach $3.5 billion revenue by 2023. The integration of AI solutions aids in reducing costs and improves the operations of such companies. Additionally, the adoption of AI-enabled solutions, such as adaptive cruise control (ACC) systems and auto emergency braking (AEB) systems helps in reducing driver fatigue and preventing potential road accidents, thereby saving lives and curtailing product delivery times. Besides, the increasing adoption of truck platooning will also fuel the integration of AI technology in the transportation sector in the coming years. Platooning is extremely necessary for achieving the objective of autonomous driving, and it offers several advantages such as curtailment in emission rates, reduction in fuel consumption, and improvement in safety features. In recent years, many countries have taken several initiatives to allow truck platooning to make road transport cleaner, safer, and more efficient in the future. According to P&S Intelligence, North America will dominate the AI in transportation market in the foreseeable future, owing to the extensive sales of premium trucks in the region. The increasing regulatory developments related to compliance, safety, and accountability (CSA) and mounting investments being made in autonomous trucks in the U.S. will fuel the adoption of AI in the North American transportation sector in the coming years. For instance, the Automated Vehicles Comprehensive Plan developed by the U.S. Department of Transportation (USDOT) aims to prepare the country’s transportation system, promote collaborations and transparency, and modernize the regulatory environment. Whereas, Asia-Pacific (APAC) is expected to integrate AI in the transportation sector at the fastest pace in the forthcoming years. This can be primarily attributed to the highest sales of trucks in the region and the rapid use of AI solutions in transportation in China and Japan. In the coming years, the transportation industry of Japan will adopt AI solutions at the highest rate, due to the maturing truck market of the country. Furthermore, China is also expected to integrate AI features in the trucks at a significant rate, owing to the growing digitization in the transport sector of the country. Thus, the rising focus of transportation companies and governments on reducing operational costs and surging adoption of truck platooning will augment the integration of AI technology in the transportation sector in the foreseeable future.

What Kinds of Anode Materials Do Automotive Li-Ion Batteries Have? Key factors such as the soaring sales of electric vehicles (EVs) and reducing prices of electrodematerials will drive the anode material for automotive lithium-ion (Li-ion) battery market at a CAGR of 5.7% during the forecast period (2020–2030). The market generated $707.2 million in 2019, and it is expected to reach $1,348.6 million by 2030. In recent years, academic institutions and original equipment manufacturers (OEMs) have started investing in research and development (R&D) forbetter anode materials than the ones currently in use.

These entities have realized that the improvement in Li-ion batteriescenters on enhancing the abilities of theircomponents. OEMs have,therefore, are partneringwith and investingin the research programs of academic institutions that are working toward the development of such products. These investments facilitate the creation of batteries with a long life, high performance, high power density, low cost, and eco-friendly nature. One such way that R&D has unearthed is using different concentrations of silicon and graphite, to do away with the technical problems associated with anodes predominantly containing Li or silicon. In the coming years, these batteries will be largely installed in passenger cars and commercial vehicles. Li-ion batteries are being incorporated in electric commercial vehicles, such as buses and trucks, as they require a battery with a high capacity and energy density. Automakers now have the option of installing high-capacityLi-ion batteries that have artificial graphite, amorphous carbon, natural graphite, lithium–titanate oxide (LTO), and silicon compoundsintheir anode. On the other hand, Europe is expected to display the fastest growth in the anode material for automotive lithium-ion battery market in the forecast period. This can be ascribed to the joint efforts by the European Union (EU), commercial lenders, and battery manufacturers to create a conducive charging ecosystem and become self-sufficient in battery manufacturing. For example, in 2018, the European Investment Bank approved aloan toNorthvolt Ett to start a battery Gigafactory in Sweden. Similarly, the German government is planning to increase the domestic production of Li-ion batteries for EVs. Thus, the increasing R&D activities and reducing cost of the anode materials will ultimately fuel the sales of EVs in the foreseeable future, by making them cheaper for the masses.

U.S. Electric Bus Market Revenue to Cross $1,924.8 Million by 2026 The U.S. electric bus market value is predicted to surge from an estimated $490.6 million in 2021 to $1,924.8 million by 2026, demonstrating a CAGR of 31.4% from 2021 to 2026. According to the market research report published by P&S Intelligence. The major factors fueling the expansion of the market are the implementation of strict regulatory measures for reducing emissions, provision of federal funding for augmenting the deployment of zero-emission buses, declining battery costs, improving operational efficiencies, and various long-term economic benefits of electric buses.

Key Findings of U.S. Electric Bus Market Report • The plunging costs of lithium-ion (Li-ion) batteries are also driving the progress of the market. As per industry experts, the average cost of Li-ion battery cells for large orders fell from nearly $1,000 per kilowatt-hour (kWh) in 2010 to around $310/kWh in 2019. • The battery electric bus (BEB) category held the largest share, under the vehicle type segment, in the past, as BEBs are the cleanest of all such automobiles. • The inductive charging category, within the charging type segment, is predicted to demonstrate the fastest growth in the coming years. This is credited to the ability of this technology to rapidly charge electric buses. • The COVID-19 pandemic caused huge disruptions in the U.S. electric bus market, as the lockdowns imposed by the federal and state governments affected the import of electronic and electrical components from China and hampered automotive production. • The launch of projects and programs such as the American Fuel Cell Bus (AFCB) Project and the National Fuel Cell Bus Program (NFCBP) by the U.S. government is a major trend in the industry. • The market is consolidated in nature, and the players are actively focusing on geographical expansions and partnerships to strengthen their position. BYD and Levo Mobility, which is a joint venture of Stonepeak Partners L.P., Evolve Transition Infrastructure LP, and Nuvve Holding Corp., announced a partnership in May 2021. Under it, Levo will buy up to 5,000 medium- and heavy-duty, vehicle-to-grid (V2G)-enabled battery electric vehicles (BEVs) over a period of five years.

The U.S. bus market size stood at over $7,453 million in 2021. This will increase to about $11,238 million by 2030, propelling at a growth rate of about 5% in the years to come. This can be credited to the quick urbanization and rising population, together with the cumulative government outlay on the upgradation of vehicles for public transport. Furthermore, the obtainability of local, state, and centralized funding and the large count of school buses help the market to grow.

The school buses had the largest share of revenue, approximately 55%, in the U.S. bus market in 2021, and will continue the same trend also in the near future. This is for the reason that these buses are the main form of mass transportation in the U.S. Nearly 480,000 school buses were on the roads in 2021 in the U.S., more than transit buses roughly 7 to 1. Additionally, the surging acceptance of e- buses for school helps the market growth in the U.S.

Accompanied by environmental assistance, it has considerably lesser crash rates and lesser severity of crashes than personal travel. Commuting by public transportation is a lot safer than commuting by personal vehicle. Furthermore, people can minimalize the chance of an accident by over 90% just by taking public transport compared to a car. These factors help in improving the growth of the U.S. bus market significantly.

The buses with 30–50 seats have the largest share of revenue in the U.S. bus market, and they will record the highest growth rate of approximately 5.0%, in the years to come. This is due to the fact that these can carry more travelers, use a smaller amount of fuel, and are economically competitive.

Because of rapid urbanization and population, a growing number of school buses has boosted the demand for buses in the U.S.

What are Factors Fueling Boom of Forklift Market in Latin America, Middle East, and Africa Region? The global forklift market reached a valuation of $33,878.7 million in 2019 and is predicted to generate a revenue of $42,519.4 million by 2030. Furthermore, the market would exhibit a CAGR of 2.8% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research firm based in India. The rapidly growing e-commerce industry and the adoption of advanced autonomous and electric forklift in warehouses and factories are the main factors fueling the growth of the market.

The expanding customer base, changing customer expectations and buying habits, and the increasing popularity of e-commerce are propelling the growth of the forklift market across the globe. The rising popularity of online shopping is pushing up the need for faster deliveries, which is, in turn, challenging the traditional logistics. This is making companies adopt strategies such as making huge investments in autonomous and electric forklifts. This is subsequently fueling the usage of forklifts in warehouses for loading and picking goods. Based on class, the forklift market is divided into class 5, class 4, class 3, class 2, and class 1 categories. Out of these, the class 5 category recorded the highest growth in the market in the past few years. These forklifts are driven by internal combustion engines (ICEs) and are extensively used in various developing countries such as Mexico, India, Brazil, and China. They are heavily used in heavy lifting applications. This is because these forklifts have pneumatic tires, which are ideal for work environments where the tire puncture risk is very high. When engine type is taken into consideration, the market is classified into electric and ICE. Between these, the electric category will exhibit faster growth in the market in the future years. This is credited to the growing demand for eco-friendly forklifts in factories. Additionally, the reducing prices of lithium-ion (Li-ion) batteries are propelling the sales of electric forklifts. Geographically, the forklift market will demonstrate the highest growth rate in the Latin America, Middle East, and Africa (LAMEA) region in the upcoming years. This would be a result of the increasing industrialization and the surging establishment of warehouses in the developing nations of the region. Additionally, the rapidly expanding e-commerce sector and the changing customer buying habits are fueling the demand for faster warehouse operations, which is, in turn, pushing up the demand for forklifts in the region.

How is Surging Traffic Congestion Driving European Electric Two-Wheeler Sharing Market? Daily commuters across the globe, including Europe, face numerous problems on the roads. One of the major problems is that of the surging number of vehicles on the roads, which result in road congestion, especially during peak hours. As the disposable income of people has risen significantly in the past few years, owing a vehicle has become quite easy, which has led to an increased number of vehicles on the roads. More than €110 billion annually are spent on road congestion in Europe, which is why the mitigation of this problem is a key concern in the region.

As per a P&S Intelligence report, the European electric two-wheeler sharing market is predicted to generate a revenue of $597.2 million by 2025, advancing at a 35.0% CAGR during the forecast period (2019–2025). Two-wheeler sharing services are offered via kick scooters and scooters/mopeds. Between these two, electric scooter/moped were more in demand in the past, as a significant number of companies in Europe offer shared mobility services via these vehicles. The service has been operational in the region since the past five years. Apart from this, companies which offer kick scooter mobility services have also started penetrating the market, which is why the demand for kick scoter services is projected to grow in the coming years. Electric two-wheeler sharing services can be availed for one-way trip or round trip. The larger demand for these services however was created for one-way trips, which is ascribed to the fact that the services offers convenience and flexibility and the users can drop the vehicles anywhere they want. While in the past Germany was the largest user of two-wheeler sharing services, in 2018, Spain emerged as the largest European electric two-wheeler sharing market. This is due to the significant increase in fleets by key services providers. The demand for these services is also predicted to rise considerably in the U.K. in the coming years. Hence, the demand for electric two-wheeler sharing services in the region is growing due to the rising road congestion.