The Global Electric Vehicle Charging Stations Market is expected to reach USD 49.74 billion by 2025, from USD 3.22 billion in 2017 growing at a CAGR of 40.80% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Major Market Competitors/Players:
- Blink Charging
- ABB Group
- AeroVironment, Inc.
- Elektromotive Limited
- ChargePoint, Inc.
- Schneider Electric SE
- Chargemaster Plc
- Eaton Corporation
- Siemens AG
- SemaConnect, Inc.
- ClipperCreek, Inc.
- Tesla Motors, Inc.
- Delphi Automotive LLP
- General Electric
- Leviton Manufacturing Co., Inc.
- Among others
The global electric vehicle charging stations market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electric vehicle charging stations market for global, Europe, North America, Asia Pacific and South America.
Electric vehicles (EVs) use electric motors powered by electrical energy stored in a battery for propulsion. Various models of these types of vehicles are available in the market with variable choices and competences. To recharge their battery, they are plugged in to a source of electrical power. The trends related to the EV technology are evolving. There are number of fundamental EV design ideas that actually precede gasoline internal ignition engines.
To charge the electric vehicles they are connected to an electric vehicle charging equipment which are also called as electric vehicle supply equipment (EVSE). These are the defensive system which connects with the vehicle and screens electrical activity to ensure safe charging. There are two types of charging stations; AC charging station and DC charging station which can be installed both residentially as well as commercially according to the necessities.
Automotive industry standards classify the charging stations into three levels based on charging power and methods that are AC Level 1, AC Level 2, and DC Fast Charge.
According to the news published by The Economics Times, in April 2016, for setting up charging stations for electric vehicles, the people would not need to have a separate licence under the Electricity Act of 2003, the government of India has said they would give a big boost to ambitious EV plans.
Market Drivers and Restraints:
- Government funding, subsidies and incentives expected to drive the EV and EV charging stations market
- Growing demand for electric vehicles increases the adoption of EV charging stations
- Growing concern toward environmental pollution
- Heavy investment from automakers in EVs
- High price and small distance covered by EVs
- Lack of standardization
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Based on vehicle type:
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
On the basis of charging station:
- AC Charging Station
- DC Charging Station
On the basis of installation type:
Based on geography:
- North America
- South America
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and Brazil among others.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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