Global Electric Vehicle Charging Stations Market: Introduction
Automobile manufacturers are eager to build a strong infrastructure to meet the operating needs of these electric vehicles as their sales of electric vehicles grow across the globe. As electric vehicle use rises, sufficient charging infrastructure is required. Additionally, over the course of the projected period, significant improvements in both indoor and outdoor charging are anticipated in order to fulfil consumer demand.
In industrialised places like North America and Western Europe, there has been a rapid increase in the number of publicly accessible charging stations that can meet demand using high voltage and high currents. Leaders in technology are also concentrating on providing charging stations for electric vehicles with improved charging capacities and shorter charging times.
Tesla Supercharging Station is one such illustration; it is an electric vehicle charging station that uses DC current and can provide up to 120 kW per vehicle. A vehicle’s battery can receive a 50% charge from the Tesla supercharger in under 20 minutes.
When seen from the perspective of a product life cycle, the market for electric car charging stations is still in its growth phase and is predicted to continue to be lucrative and opportunistic because of ongoing, considerable technical research and development. Over the projected period, it is anticipated that the other businesses would follow the lead of the market’s top players in focusing on rapid car charging stations.
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Market Dynamics
The global electric vehicle charging stations market is expected to be significantly driven by incentives and subsidies from governments that fuel sales of electric vehicles. Strategic initiatives by major players to provide free charging facility to electric vehicle owners will gain significant attraction in the market over the forecast period. Preference of home charging stations by electric vehicle owners, especially in North America and Europe is expected to significantly boost the sales of AC electric vehicle charging stations over the forecast period.
Presently, the market for electric vehicle charging stations is highly consolidated, and thus there exists huge influence of major players and hence electric vehicle charging stations lack standardization, which in turn is expected to restrain growth of the market. Moreover, higher cost of DC charging stations over the conventional electric vehicle charging stations can further hamper market growth.
Market Segmentation
- Home Charging Stations
- Public Charging Stations
On the basis of supply type
- AC Charging Stations
- Level I
- Level II
- DC (Fast) Charging Stations
- Level III
- Others (Inductive)
On the basis of connector type
- CHAdeMO
- CCS
- GB/T
- Tesla Supercharger
- Others
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Region-wise Outlook
Asia Pacific is expected to dominate the volume demand for electric vehicle charging stations over the forecast period owing to the expanding market of electric vehicles due to various government incentives and subsidies. North America and Europe are expected to be the fastest growing regions in terms of CAGR over the forecast period.
U.S. is expected to witness significant increase in installation of DC charging stations over the next few years. Increase in number of home electric vehicle charging stations is also expected in the U.S. and Germany. Growth of the market in Middle East and Africa is expected to remain moderate over the forecast period.
Market Participants
- Tesla Motors Inc.
- Delphi Automotive Plc.
- Schneider Electric
- Leviton Manufacturing Co., Inc.
- AeroVironment, Inc.
- ChargePoint Inc.
- General Electric
- SemaConnect Inc.
- Bosch Automotive Service Solutions Inc
- Clipper Creek
- EV Box
- ABB Ltd.
- Eaton Corp. Plc.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K., Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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