Electric Vehicle Charging Station Market:
The GMI Research’s latest analysis reveals that the Electric Vehicle Charging Station is slated to register a faster CAGR during the forecast period. This is mainly due to the augmenting demand for electric vehicles and increasing awareness among consumers regarding the negative impacts of gas emission through conventional vehicles across the globe.
Electric Vehicle Charging Station Market’s leading Manufacturers:
- BYD Company
- Nissan Motor Company
- ABB Group
- Tesla Inc.
- Mitsubishi Electric
- Efacec Power Solutions
Electric Vehicle Charging Station Market (including market size, share, trends, growth, forecast, and industry analysis)
The key factors speeding up the growth of the market include the surging demand for electric vehicles and increasing awareness among regarding gas emission produced by conventional vehicles. Moreover, favourable government policies, regulations, and the growing focus of government agencies to provide funds which aim towards the development of charging stations are further expected to augment the growth of the electric vehicle charging station market share.
Some of the leading players, which include Electric Vehicle Charging Association (EVCA), CHAdeMO Association, AVERE (The European Association for Electromobility), among others, are working on the introduction of advanced charging infrastructure, which will further propel the growth of the electric vehicle charging station market size.
In addition to this, the rising satisfaction of consumers, such as home charging options for electric vehicles, integrated with the development of new technologies including wireless charging and ultra-fast DC charging solution, will propel the market growth. Along with that, the rising trend towards the adoption of emission-free vehicles across companies and the expansion of the market will further expand the demand of the market over the forecast period.
On the other hand, the high installation prices of these stations may hinder the growth of the global market.
Installation Type Segment Drivers
Based on the installation type, portable is expected to grow at a higher CAGR in the market during the forecast period owing to the benefits provided by this type of installation, including the easy carrying feature and extremely light weight. Moreover, the development of new and advanced portable chargers by companies including Volkswagen is further driving the market growth.
Based on the regional distribution, the Asia-Pacific is expected to lead the market over the forecast period because of the increasing manufacturing of electric vehicles in countries including China, Japan, and South Korea. Furthermore, factors like increasing per capita income of people in developing countries, including India, China, Bangladesh, and Thailand, followed by the growing awareness of consumers towards reducing greenhouse gas emission will further provide high growth opportunities for the electric vehicle charging station market. In Europe, the number of electric vehicles and charging stations is experiencing an increasing trend owing to favourable government initiatives and policies that encourage the investment for the development of electric vehicles and decreased vehicle emission.
For example, the Federal Ministry of Transport and Digital infrastructure, Germany, has launched subsidies and tax benefits provided to the owners of charging stations and is planning to install 1 million electric vehicle charging stations by 2030 in Germany.
Electric Vehicle Charging Station Market Segmentation:
Segmentation by Charging Level:
Segmentation by Application Type:
Segmentation by Installation Type:
Segmentation by Charging Station Type:
- Normal Charging
- Super Charging
- Inductive Charging
Segmentation by Charging Infrastructure Type:
- Normal Charger
- Tesla Supercharger
- Type 2 (IEC 62196)
Segmentation by Charging Electric Bus Charging Type:
- Off-Board Top-Down Pantograph
- Off-Board Bottom-Up Pantograph
- Charging via connector
About GMI Research
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