The global electric vehicle charging station market 2020 can record a growth rate of 41.79% between 2019 and 2025 (forecast period), says Market Research Future (MRFR).
The top players in the worldwide market for electric vehicle charging station are-
Webasto Group, ABB, Tesla, Eaton, EVgo Services LLC, Siemens, The New Motion B.V., Schneider Electric, ChargePoint, Inc., Leviton Manufacturing Co., Inc., to name a few.
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Market Drivers and Key Barriers
The electric vehicle charging station market has been gaining massive traction in the past few years, on account of the highly favorable ecosystem complementing its relentless growth. A number of countries are implementing several initiatives to motivate the population to make use of electric vehicles or EVs, in an attempt to curb the surging concerns associated with environmental pollution as well as global warming. To illustrate, in November 2017, 48 national EV charging networks for highways were developed by the US administration. These charging networks cover an entire distance of roughly 25,000 miles across 35 states.
Furthermore, in May 2016, the German government came up with an incentive program for EV buyers, offering them a direct discount of USD 4,520. These incentive schemes and the government’s plan to discontinue the production of fossil fuel vehicles by 2030 can benefit the electric vehicle charging station market over the coming years.
Amplified demand for electric vehicles, large-scale government funding, heavy investment from automakers, subsidies & incentives, and rising concerns regarding environmental pollution can be significant growth boosters in the market during the appraisal period.
Market Segmentation
The Electric Vehicle Charging Station Market has been covered in the report, taking in account the primary segments like charging station, connector type, installation type and vehicle type.
The types of charging stations are AC charging station, DC charging station, as well as inductive charging station. The AC charging stations are the leading segment in the market, as of 2018; and can observe considerable progress in the years to come on account of the rising adoption of AC charging station in the residential sector.
The connector types analyzed in the report are Combined Charging System, CHAdeMO, and others such as Tesla Supercharger, GB/T standard, IEC standard and SAE standard. The CHAdeMO segment can project the highest growth in the approaching years, given the high demand from the commercial sector.
The installation types discussed are residential as well as commercial. In 2018, the leading segment was identified to be residential, because of the need for overnight charging of EVs. The commercial segment can expand at the fastest rate during the evaluation period owing to the surging development of EV charging stations at traditional gas stations, parking garages, restaurants, shopping centers and hotels.
The types of vehicles are battery electric vehicle as well as plug-in hybrid vehicle. The battery electric vehicle or BEV segment can dominate the market in the near future with the mounting use of Level 1 charging stations in the residential sector.
Regional Insight
The region-wise segments based on which the electric vehicle charging station market has been studied include North America along with Europe, Asia Pacific (APAC), and the rest of the world (RoW).
Europe’s sound growth in the coming years can be the result of the surge in new emission standards by the government. A number of electric vehicles incentive programs are leading to a robust market growth in the region. These programs offer various benefits, such as the development of a significant number of privileged parking lots in locations like bus terminals and shopping malls. These policies are striving to make electric vehicles highly attractive to consumers, which boosts the growth of the EV charging station market in Europe.
The RoW market is made of regions like the Middle East & Africa as well as South America. These regional markets can expand significantly in the coming years, as many of the renowned EV manufacturers are making sizeable investments in the development of charging infrastructure. Also, the easy availability of charging stations along with low-cost batteries can drive the sales in these regions, thanks to their low material cost.
Key Questions Addressed by the Report
- What was the historic market size (2017)?
- Which segmentation (Charging Station/Connector Type/Installation Type/Vehicle Type is driving market?
- What will be the growth rate by 2025?
- How are the key players in this market?
- What are the strategies adopted by key players?
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Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Market Attractiveness Analysis
2.6 Global Electric Vehicle Charging Station Market, by Charging Station
2.7 Global Electric Vehicle Charging Station Market, by Connector Type
2.8 Global Electric Vehicle Charging Station Market, by Installation Type
2.9 Global Electric Vehicle Charging Station Market, by Vehicle Type
2.10 Macro Factor Indicator Analyses
2.11 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Insights
5 Market Dynamics
Continued……
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Electric Vehicle Charging Station Market: Macro Factor Indicator Analyses
Table 4 Major Granted Patents on Electric Vehicle Charging Station (23 May 2014 – 23 May 2019)
Table 5 Global Electric Vehicle Charging Station Market, by Charging Station, 2017–2025 (Thousand Units)
Table 6 Sub-segment: Global Electric Vehicle Charging Station Market, by Ac Charging Station, 2017-2025 (Thousand Units)
Table 7 Global Electric Vehicle Charging Station Market, by Connector Type, 2017–2025 (Thousand Units)
Table 8 Global Electric Vehicle Charging Station Market, by Installation Type, 2017–2025 (Thousand Units)
Continued……..
List of Figures
Figure 1 Global Electric Vehicle Charging Station Market: Market Structure
Figure 2 Market Attractiveness Analysis: Global Electric Vehicle Charging Station Market, 2018, by Region
Figure 3 Global Electric Vehicle Charging Station Market, by Charging Station, 2017-2025 (Thousand Units)
Figure 4 Global Electric Vehicle Charging Station Market, by Connector Type, 2017–2025 (Thousand Units)
Figure 5 Global Electric Vehicle Charging Station Market, by Installation Type, 2017–2025 (Thousand Units)
Figure 6 Global Electric Vehicle Charging Station Market, by Vehicle Type, 2017–2025 (Thousand Units)
Figure 7 Global Electric Vehicle Charging Station Market: Key Buying Criteria
Figure 8 Research Process of Mrfr
Figure 9 Top-down & Bottom-up Approaches
Continued………
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