Global Electric Vehicle Charging Stations Market, By Charger Type (Slow, Fast), By Connector Protocol (CCS, CHAdeMO, Others), By Charging Method (AC Charging, DC Charging), By Application (Commercial, Residential), Estimation & Forecast, 2017 – 2027, The ‘ Electric Vehicle Charging Stations market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview, Electric Vehicle Charging Stations market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Electric Vehicle Charging Stations market size forecast, market data&Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence.
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The global electric vehicle charging stations market held a market volume of about 905 thousand units in 2020 and is projected to reach nearly 2798 thousand units by the year 2027 at a CAGR of 17.5% from 2017 to 2027. The market was valued at USD 26,091.2 million in 2020.
Electric vehicle charging stations are used for charging the batteries of electric cars, buses, and other such vehicles. The market is expected to grow owing to the rising concerns related to carbon emissions, rising trend of electric vehicle adoption, and government regulations and tax exemptions. However, the high costs associated with setting up the EV infrastructure, electricity costs uncertainty & requirement of space, and emergence of hydrogen cell vehicles are likely to negatively hamper the market growth.
During the COVID-19 pandemic, complete lockdowns were imposed which created a barrier in setting up of the electric vehicle charging stations, which negatively impacted the market growth.
Government regulations and tax exemptions
As the market for electric vehicles is expected to grow with time, the setting up of charging stations for these vehicles is also estimated to increase. This is further supported by the recognition received by governments of various countries for adoption of electric vehicles as they reduce pollution levels. Governments of countries such as the U.S. and China have taken various initiatives to build charging stations across their countries. They have promoted the growth in this segment by imposing tax rebates, offering incentives and preferential policies, among others. Hence, government regulations and tax exemptions are anticipated to boost the market growth.
Increasing trend of electric vehicle adoption
With the increasing adoption of electric vehicles, the demand for its charging stations is also rising tremendously. According to the International Energy Agency, the sale of electric cars reached 2.1 million globally in 2019, a 40% year-on-year increase since 2018. Such rapid adoption of electric vehicles is also likely to boost the market growth during the forecast period.
The global electric vehicle charging stations market is segmented based on charger type, connector protocol, charging method, and application.
The slow charger segment held the largest volume share and is expected to surpass 1,395 units by 2025. This is owing to various government initiatives for accelerating deployment of charging infrastructure.
The combined charging system segment held the largest market share of about 54% owing to its high preference by automobile manufacturers. The CHAdeMO segment is expected to grow at the fastest rate and generate a revenue of USD 26,172.6 million by 2025.
The DC Charging segment witnessed the fastest rate owing to its high preference over the AC charging method.
o Multi dwelling units (Apartment Buildings)
The residential segment held the largest share of about 65% in terms of volume owing to the high demand of charging stations in residential building. Within the commercial segment, the hospitality segment witnessed a CAGR of 32% and the office spaces segment is expected to cross a value of 59 thousand units by 2023.
By region, the global electric vehicle charging stations market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.
The Asia Pacific region held the largest volume of 629.4 thousand units in 2020, owing to the increasing demand for cheaper electric vehicles for routine use and the large scale charging network in China. Also, government support in this region is also expected to boost the market growth.
The South America region is anticipated to be the fastest growing segment witnessing a CAGR of 33.8% owing to high demand for electric vehicles in Brazil and Argentina, among others. The North America and Europe region are also expected to witness significant growth rates during the forecast period.
Major players in the global Electric vehicle charging stations market include ABB Ltd., AeroVironment Inc., BYD Auto, Chargemaster PLC, ChargePoint, Inc., Eaton Corporation plc, Leviton Manufacturing Co., Inc., Schneider Electric SE, SemaConnect, Inc., Siemens AG, and Tesla Motors, Inc., and Other Prominent Players.
The cumulative market share of the four major players is near about 40%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in August 2021, ChargePoint Holdings acquired ViriCiti, a company dealing in electrification solutions for commercial fleets and eBus. The acquisition was valued at USD 88.46 million.
The global Electric vehicle charging stations market report provides insights on the below pointers:
The global Electric vehicle charging stations market report answers questions such as:
Key Segments Studied in the Global Electric Vehicle Charging Stations Market
• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
• Pre- as well as post-COVID-19 market estimates
• Quarterly impact analysis and updates on market estimates
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Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
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Key Points Covered in Electric Vehicle Charging Stations Market Report:
Chapter 1, to describe Definition, Specifications and Classification of Global Electric Vehicle Charging Stations , Applications of , Market Segment by Regions; Chapter 2, to analyze the Manufacturing Cost Structure, Raw Material and Suppliers, Manufacturing Process, Industry Chain Structure; Chapter 3, to display the Technical Data and Manufacturing Plants Analysis of , Capacity and Commercial Production Date, Manufacturing Plants Distribution, Export & Import, R&D Status and Technology Source, Raw Materials Sources Analysis; Chapter 4, to show the Overall Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment); Chapter 5 and 6, to show the Regional Market Analysis that includes United States, EU, Japan, China, India & Southeast Asia, Segment Market Analysis (by Type); Chapter 7 and 8, to explore the Market Analysis by Application Major Manufacturers Analysis; Chapter 9, Market Trend Analysis, Regional Market Trend, Market Trend by Product Type, Market Trend by Application; Chapter 10, Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis; Chapter 11, to analyze the Consumers Analysis of Global Electric Vehicle Charging Stations by region, type and application; Chapter 12, to describe Electric Vehicle Charging Stations Research Findings and Conclusion, Appendix, methodology and data source; Chapter 13, 14 and 15, to describe Electric Vehicle Charging Stations sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
……..and view more in complete table of Contents
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