The global Electric Vehicle Charging Station market size is expected to be worth around USD 30,730 thousand units by 2027 from USD 2,110 thousand units in 2021, growing at a CAGR of 45.9% from 2021 to 2027. Increasing usage of ethyl alcohol as befoul is major factor driving growth of the ethanol market.
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The market Factors such as growing demand for energy-efficient commuting, governments supporting electric vehicles, and their charging infrastructure through preferencial policies, subsidies, and tax rebates have led to a growing demand for this segment along with the fact that within the next 2 decades, many governments around the world have announced plans to phase out fossil fuel vehicles from the market.
Increasing investments by governments across the globe to develop charging infrastructure and incentives offered to buyers will create opportunities for OEMs to expand their revenue stream and geographical presence. The market in Asia Pacific is projected to experience the fastest growth owing to the high demand for electric vehicles and aggressive reforms from governments of countries like China, Japan, South Korea and their efforts to promote growth of EV Charging infrastructure to make EV charging more accessible. Meanwhile the North American and European markets are growing due to the government initiatives and growing demand for fast charging segment. However, factors like high costs involved in initial investments for fast charging, need for better batteries, charging time of EV vehicles being much higher than fossil fuel vehicles (Specially in case of Level 1 and Level 2 Charging), charging compatablity not being uniform, grid capacity and current trend of pricing of EV being higher than their fossil fuel counterparts could hamper the growth of global EV and electric vehicle charging stations market.
Report Scope of the Electric Vehicle Charging Station Market
|Market Size||USD 30,730 thousand units by 2027|
|Growth Rate||CAGR of 45.9% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Material type And Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||ABB Ltd., AeroVironment Inc., BYD Auto, Chargemaster PLC, ChargePoint, Inc., Eaton Corporation plc, Leviton Manufacturing Co., Inc., Schneider Electric SE, SemaConnect, Inc., Siemens AG, Tesla Motors, Inc.|
Market Opportunity analysis:
The electric vehicle charging stations market is expected to grow with time and growing support from government bodies of different countries. Many countries have recognized the need to go electric to reduce the increasing pollution from automobiles, with the US and China already gearing up to electric vehicles. These countries have taken initiatives to improve the charging network across their states for ease of switching to EV’s and promoted this segment using incentives, tax rebates, preferential policies etc. China, US and some European countries have subsidized the setting up cost of EV charging stations at residential complexes, semi public areas, private homes etc.
The Asia Pacific Market Is Projected To Hold The Largest Share By 2027
Asia Pacific is expected to be the largest market. Large scale growth of EV charging network in China, growing demand for affordable electric vehicles for daily use, and governments promoting electric vehicles are expected to drive the Asia Pacific market during the forecast period. China’s rapidly growing economy is driving the expansion of advanced technologies to improve electrification in the country. China has spent approximately USD 3.0 billion till 2020 to improve the charging facility infrastructure in the country. The Japnese, Korean Governments have also come up with measures to drastically improve the number of electric vehicle charging points across their countries in the coming years. The Indian government has also announced plans to equip 69,000 EV charging stations across india as part of its first phase of EV infrastructure growth, which may have a demand of 4 lakh charging stations by 2027.
COVID-19 Impact on Electric Vehicle Charging Station Sales
- Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Electric Vehicle Charging Station market.
- Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
- Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
- Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Electric Vehicle Charging Station market 2021 onwards. This trend will however continue through the course of the report’s assessment period
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Recent report on the Electric Vehicle Charging Station market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Electric Vehicle Charging Station market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2021 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Electric Vehicle Charging Station market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global Electric Vehicle Charging Station market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Electric Vehicle Charging Station market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global Electric Vehicle Charging Station market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Electric Vehicle Charging Station market that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Electric Vehicle Charging Station market is analyzed at both regional and country levels.
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Electric Vehicle Charging Station market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Electric Vehicle Charging Station 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, Tesla Motors, Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Based on the Charging Level:
- Level 1
- Level 2
- Level 3
Based on the Charging Point Type:
- Normal Charging
- Super Charging
- Inductive Charging
Based on the Installation type:
- Portable Charger
- Fixed Charger
Based on the Charging Infrastructure Type:
- Normal Charge
- Tesla Super Charger
- Type 2 (IEC 621196)
Based on the application type:
Based on the DC fast charging:
- Ultra Fast
Based on the electric bus charging type:
- Off-board Top-down Pantograph
- On-board Bottom-up Pantograph
- Charging Via connector
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Electric Vehicle Charging Station market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Electric Vehicle Charging Station market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the Electric Vehicle Charging Station market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Why should you invest in this report?
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 2021-2027 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.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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