Pantograph Bus Charger Market: Current Analysis and Forecast (2024-2032)

Pantograph charging is a method of charging electric buses in depots or at specific charging stations through an inverted pantograph that is mounted on a gantry or mast. Due to the ongoing electrification trend, the demand for electric commercial vehicles is increasing, and electric buses are dominating and have more emphasis by the government. As the demand for electric buses is growing, the need for electric charging infrastructure has experienced a boom, which has led to increasing demand for the Pantograph bus charger. In upcoming years, the market will experience a boost due to NetZero Targets initiatives by various countries globally.

The Pantograph Bus Charger Market is expected to grow at a robust CAGR of 23.8 % during the forecast period, owing to the growing awareness about the harmful effects of traditional fossil fuel-based transportation on the environment. Additionally, governments are setting ambitious targets to reduce greenhouse gas emissions, fueling the demand for eco-friendly transportation solutions. For instance, in November 2023, ChargePoint announced a pantograph option for the ChargePoint Express Plus charging system, the company's 500 kW DC charging solution designed to provide a future-proof upgrade to any catenary-fitted depot.

Based on the charging type, the market is segmented into Level 1, Level 2, and direct current fast charging. The direct current fast charging segment is forecasted to grow significantly because DC fast charging can charge an EV's battery in less time than others. DC fast charging is beneficial for long road trips or EV owners who need to quickly top up their batteries. Range anxiety is one of the common concerns for EV owners, which can be resolved by more expansive installation of the DCFC infrastructure.

Based on components, the market is segmented into hardware and services. Amongst these, the hardware segment accounted for the highest market share in 2023 because hardware components are responsible for the efficient and safe transfer of electrical energy between the charger and the bus in pantograph bus charging systems. There has been ongoing heavy investment in research and development by leading companies to create advanced hardware components that meet the growing demand for efficient and reliable charging systems. The development of advanced hardware components, such as high-power charging cables and advanced power conversion units, is expected to drive the growth of the hardware segment in the coming years.

Based on infrastructure type, the market is segmented into off-board top-down pantograph and on-board bottom-up pantograph. In 2023, the off-board top-down pantograph accounted for the dominating share of the global pantograph bus charger market due to the convenience and efficiency offered by this segment compared to another segment. Additionally, Off-board top-down pantograph chargers allow faster charging times and are more suitable for high-power charging applications.

For a better understanding of the market adoption of the pantograph bus charger industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Rest of World. Asia Pacific held a significant market share over the historical period and is expected to grow further over the forecast period owing to the rapid progress in battery technology, which has led to a considerable reduction in the upfront costs of electric buses. The growing demand for sustainable transportation options drives the adoption of electric commercial buses. Additionally, Consumers are becoming more environmentally conscious, and governments are responding to this demand by investing in clean energy infrastructure. All the progress and government initiatives in recent years have made it more accessible and financially viable for public transportation authorities and operators, further fueling the pantograph bus charger market's growth.

Some major players operating in the market include ABB, Wabtec Corporation, Siemens Mobility, Vector Informatik GmbH, Shenzhen SETEC Power Co., Ltd., Schunk Transit Systems, VALMONT INDUSTRIES, INC, Comeca Group, ChargePoint, Inc, and BYD Company Limited.