Electric Vehicles Charging Stations Market Size, Industry Trends, Share, Analysis, Growth and Forecast 2022-2030
| Electric Vehicles Charging Stations |
Market Highlights:
The Global Electric Vehicle Market is very dynamic and is expected to witness significant growth over the forecast period. As a result, the demand for its charging stations has also been fueled. During the last few years, the global electric vehicle charging stations market has seen remarkable growth due to the rise in the sales of electric vehicles. It has also been observed that the market demand will grow rapidly during the forecast period. This market is expected to grow at a CAGR of over30% during the forecast period.
The global electric vehicle charging station market has been largely influenced by the growth in the number of electric cars and trucks and government initiatives on reducing vehicles emissions. Focus on renewable forms of energy, and government regulations on tax exemptions on electric vehicles also lead to the growth of the market. In spite of the growth factors, the global market could face the challenges such as high installation cost, non-availability of public charging stations, and slow charging time.
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Key Players:
The prominent players in the electric vehicle charging station market include Bosch Automotive Service Solutions (Germany), Bolloré Group (France), Chargemaster (UK), Delphi Automotive (UK), ABB Ltd (Switzerland), General Electric Company (US), Tesla Motors Inc (US), Siemens AG (Germany), Eaton Corporation (Ireland), Schneider Electric (France ) and among others.
Electric Vehicles Charging Stations Market - Segments:
Global Electric Vehicles Charging Stations Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Charging Type: AC Charging and DC Charging
Segmentation by Connector: CHAdeMO, Combined Charging System and Others
Segmentation by Application: Residential and Commercial
Market Research Analysis:
Geographically, Asia Pacific is the leading market for electric vehicle charging stations and has consumed the market share of more than 50% in 2016. Presence of China, Japan and South Korea is one of the major factors driving the electric vehicles market, which will increase the demand for charging stations. China is the largest market for electric cars and electric two wheelers. Since 2015, sales have been grown massively in China. However, it has created an ample scope for the manufacturers to cover the region.
Electric Vehicles Charging Stations Market - Regional Analysis
Asia Pacific expected to be the largest market for electric vehicle charging stations during the forecast period. Asia Pacific is a lucrative market with high growth potential owing to the rapidly increasing numbers of electric vehicles in countries such as China and Japan. In the past few years, China has witnessed growth in both electric vehicles and their charging infrastructure. Moreover, Japan is referred as growth region for the EV charging stations and recently passed a key milestone by having more EV charging stations than petrol stations. Further, governments in the region are investing a large amount for the R&D related to EVs and the expansion of the charging infrastructure. Furthermore, companies are working towards upgrading Electric Vehicle Supply Equipment (EVSE) to make them more convenient.
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