Electric vehicle Charging Station Industry Synopsis and Highlights, Key Findings

Posted by Market Research Future on December 3rd, 2020

Market Synopsis:

The global Electric vehicle Charging Station Industry is expected to attain considerable growth in the coming years as reported by the team of Market Research Future (MRFR).

It is identified by MRFR that the increasing popularity of electric vehicles among the consumers has massively contributed to the overall growth of the Electric vehicle Charging Station Industry . Add to this, growing awareness among consumers concerning the depleting environmental condition is anticipated to act as a major growth driver of the global market. The vast pool of advantages linked with the use of electric vehicles over traditional fuel-based vehicles is projected to push the demand for electric vehicles as well. It is also noted that OEMs are now focusing upon connected electric vehicle solutions for individuals with electric vehicles range anxiety. This is also slated to accelerate the global market for electric vehicle charging station in the near future. However, the high initial cost linked with electric vehicle batteries is a major constrain to the overall growth of the market.

Regional Analysis

The global Electric vehicle Charging Station Industry  is regionally segmented into the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).

As mentioned earlier, the global market is expected to see substantial growth and expansion over the forecast period. A major share of the growth will be contributed by Asia Pacific. The Asia Pacific region is identified as the largest player in the global market for electric vehicle charging station. The region is further believed to remain at the top of the global standings due to its consistent growth rate. The region is driven by a number of factors, including the increasing Market percentage of electric vehicles, the increasing prices of fuel, and the growing number of favorable initiatives imposed by the government.

In North America, the market is at present experiencing significant demand and the story is expected to remain the same over the forecast period. The huge outlay in the development of electric vehicle infrastructure in the form of many policies and recharge stations is anticipated to be a major driver of the market in this region. It is reported through a study that the Market of electric cars have doubled in North America since 2014. This is a clear indication of the burgeoning demand for electric vehicle charging stations in this region. The US, in particular, has seen rapid increase in the Market volume of electric vehicles. This is expected to continue in the forthcoming years and will, in turn, garner increasing revenue towards the market. The growth of the market in the US is primarily due to the increasing demand for electric cars, high rate of disposable income, and increasing government initiatives.

The European region is another major market in the global landscape and is expected to attain significant growth in the coming years. The presence of countries like the UK, France, Germany, Norway, and others has massively aided in increasing the growth of this region and it is expected to be the same in the near future.

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Market Segmentation

The global Electric vehicle Charging Station Industry  segmentation is done on the basis of the following components: connector type and charging station.

By charging station, the market narrows down into DC charging station, AC charging station, and inductive charging station.

By connector, the market segments into CSS, chademo, and others.

Competitive Landscape

MRFR reports that the global Electric vehicle Charging Station Industry  comprises a host of key players, both large and small. These players are consistently ensuring the proliferation of the market with their innovative developments and strategies. Some of the key players identified in the market are as follows:  Elektromotive Limited (U.K.), AeroVironment Inc. (U.S.), ABB Ltd. (Switzerland), Schneider Electric SE (France), GE Company (U.S.), and others.

May 23^rd, 2019, Japanese tech giant, Panasonic, made an announcement concerning the launch of its EV charging stations in Delhi, India, and joined an extensive list of global companies in the electric mobility market of the country.

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