The global Electric Vehicle Charging Station Market size is expected to reach US$ 39.2 billion by 2027 and is expected to grow at an impressive double-digit rate of 40.7% from 2020 to 2027.
The study includes drivers and restraints of this market. The study provides an analysis of the global Electric Vehicle Charging Station Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.
If you are aiming to enter the global Electric Vehicle Charging Station Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Electric Vehicle Charging Station are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Growth Factors
Commercial success for electric vehicles needs installation of charging infrastructure which is reachable, accessible, and comparatively reasonable irrespective of their location. Strategic initiatives taken by some of the major players to provide free charging facility to the electric vehicle owners will provide traction to the market growth. In addition, rising trend of home & workplace charging stations or private charging stations in North American and European countries attributed to boost the AC charging station market size. Private charging provides fast and reliable charging with no time constraint, which may provide ease of EV charging to the vehicle owners. However, lack of standardization coupled with various costs associated with charging station such as operational, maintenance, and installation costs may hinder the market growth. In addition, the looming under investment for the EV charging station development projects projected to hamper the growth of the market. The European Environment Agency (EEA) revealed that only 10 out of 28 European countries have received the incentives for the development of EV charging infrastructure as of May 2016.
Report Highlights
- Asia Pacific was the dominant region in 2019 and is expected to be the most attractive market during the forecast period. China, India, Japan, and Korea are some of the most lucrative regions for the electric vehicle charging station market growth. Rising investments and government initiatives are the major factors for its significant growth.
- North America and Europe are the significant revenue contributors in the global electric vehicle market with substantial growth. Government’s targets to curb the carbon emission and boost the adoption of electric vehicles are some of the major factors driving the EV charging station market in these regions.
- DC charging point led the market share with approximately 60% of the revenue share in 2019 owing to fast charging capability and attractive pricing of the DC charging. However, wireless charging expected to witness the fastest growth rate during the forecast period.
- By end user segment, public type charging station dominated the global EV charging station market because they are more economical to the manufacturer. Moreover, they offer larger paring space and are accessible to all public.
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Key Market Players and Strategies
- ABB Ltd.
- ChargePoint, Inc.
- EVgo Services LLC.
- Allego
- Scheinder Electric
- Blink Charging Co.
- Wi Tricity Corporation
- Toshiba Corporation
- AeroViroment, Inc.
- Mojo Mobility, Inc.
- General Electric
- Robert Bosch GmbH
- Chargemaster plc.
- Evatran Group
- HellaKGaAHueck& Co.
- Siemens AG
- Leviton Manufacturing Co., Inc.
- Efacec
- Alfen N.V.
- Denso Corporation
- Elix Wireless
- Tesla Inc.
- ClipperCreek
- Engie
- Infineon Technologies AG
- Qualcomm Technologies, Inc.
Major Market Segments Covered:
By Charging Station Type
- AC Charging
- DC Charging
- Wireless Charging
By Power Output
- <11KW
- 11KW-50KW
- >50KW
By Supplier Type
- OE Charging Station
- Private Charging Station
By End User
- Private Type
- Public Type
Regional Analysis:
The geographical analysis of the global Electric Vehicle Charging Station Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global Electric Vehicle Charging Station Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global Electric Vehicle Charging Station Market in 2027?
- What is the expected CAGR for the Electric Vehicle Charging Station Market between 2020 and 2027?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global Electric Vehicle Charging Station Market?
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