An insightful study, titled “Electric Vehicle Charging Station Market” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.
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An electric vehicle charging station is a component or an infrastructure which supplies electric energy to the electric vehicles for recharging of batteries at home or at public spaces. It provides energy to plug-in electric vehicles which includes electric cars and plug-in hybrids. An electric charging station is also known as electric vehicle supply equipment (EVSE). Charging equipment can be differentiated on the basis of charging time and the usage.
In the last few years, the demand for electric vehicle charging stations has accelerated in response to the increased sales of electric vehicles (EV). Besides the growing awareness about benefits these vehicles provide, the market is gaining from favorable government policies. For instance, governments have introduced various subsidies to promote the sales of electric vehicles. These may include road tax exemption. Also manufacturers are working on lowering their production cost to offer advanced models of electric vehicles under a reasonable price tag. While these strategies are aimed towards promoting EV sales, the electric vehicle charging station market will as well gain from them.
The global electric vehicle charging station market is therefore expected to showcase an exponential CAGR of 30.8% between 2017 and 2025. At this pace, the market’s valuation will reach US$37.48 bn by the end of 2025.
The electric vehicle charging stations market can be broadly classified under technology, end-use application, and geography. Based on technology, the market is segmented into level 1, level 2, and level 3. Of these, the adoption of level 2 charging stations has been the highest in the last few years. These stations perform faster than their predecessor level 1 and is cheaper than more advanced level 3 charging stations. Considering this, the demand for level 2 charging stations is expected to continue accelerating through the forecast period. However, level 3 charging stations are gaining popularity as the market gears to embrace technological advancements in the near future.
In terms of end-use, the market is classified into government, public space and municipalities (parks and street), commercial office space, healthcare, retail, hospitality, residential, logistics and transportation (fleet services), education, and others. Of these, the residential sector emerged dominant in 2016. By the end of 2017, it is expected to hold over 41.6% of the market. As the rate of sales of EVs across the household sector increases, the demand for charging stations to be installed at residences is likely to rise in response. While the commercial office space and retail segments are anticipated to generate higher revenue in the coming years, it won’t be easy for them to outpace the residential sector.
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Regionally, the global electric vehicle charging station market can be segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, Asia Pacific emerged dominant in 2016 and is expected to remain at the fore over the course of the forecast period. The primary drivers of the electric vehicle charging station market in Asia Pacific region are improving infrastructure along with the favorable government regulations and growing environmental awareness. North America and Europe regions are anticipated to experience promising growth in the electric vehicle charging station market during the forecast period. However, the Middle East and Africa is expected to report the highest CAGR of 61.6% between 2017 and 2024.
Some of the leading players operating in the global electric vehicle charging station market are AeroVironment, Inc., Bosch Automotive Service Solutions Inc., ChargePoint, Inc., ClipperCreek, Inc., Delta Group, Eaton Plc, Enel Group, E-Station Pty Ltd., General Electric Co., Hitachi, Ltd., KYOCERA Corp., Leviton Manufacturing Co., Inc., Nichicon Corp., Panasonic Corp., Schneider Electric SE, SemaConnect, Inc., Siemens AG, Signet Systems Inc., Tesla Motors, Inc., Toyota Industries Corp.
This report provides all the essential information required to understand the electric vehicle charging station and its components. Also, the report provides insights related to the policies and regulations according to the various geographical regions mentioned above. These policies and regulations are directly or indirectly influencing the electric vehicle charging station market. Furthermore, Porter’s Five Forces analysis explains the factors which are currently affecting the electric vehicle charging station market. This report also provides the value chain analysis for the electric vehicle charging station which explains the participants of the value chain.
AeroVironment, Inc., Bosch Automotive Service Solutions Inc., ChargePoint, Inc., ClipperCreek, Inc., Delta Group, Eaton Plc, Enel Group, E-Station Pty Ltd., General Electric Co., Hitachi, Ltd., KYOCERA Corp., Leviton Manufacturing Co., Inc., Nichicon Corp., Panasonic Corp., Schneider Electric SE, SemaConnect, Inc., Siemens AG, Signet Systems Inc., Tesla Motors, Inc., Toyota Industries Corp. are some of the major players operating within the global electric vehicle charging station market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
Electric Vehicle Charging Station Market
- Level 1
- Level 2
- Level 3
By End-use Application
- Public Space and Municipalities (Parks and Street)
- Commercial Office Space
- Logistics and Transportation (Fleet Services)
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- North America
- The U.K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
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