Electric Vehicle Charging Stations Market Analysis From 2019 To 2023 is latest report on Global Electric Vehicle Charging Infrastructure Market. Electric Vehicle Charging Stations Market segmented by charging stations (AC charging station, DC charging station and inductive charging station), Connector Type (chademo, CCS and others), and Region.
Electric vehicles such as electric scooters, electric motorcycles, and electric cars are becoming a popular mode of transportation. These are mechanically simpler and usually quieter compared to internal combustion engine cars. The recharging cost is less than gasoline. Electric cars are directly powered through external power stations which are powered by stored electricity. Charging these cars may take a few hours for everyday usage.
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Bosch Automotive Service Solutions (Germany), Bolloré Group (France), Chargemaster Plc (UK), Delphi Automotive (UK), ABB Ltd (Switzerland), General Electric Company (US), Tesla Motors Inc (US), Siemens AG (Germany), Eaton Corporation (Ireland), and Schneider Electric (France) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Electric Vehicles Charging Stations market.
The Trend of Smart Charging
Simply put, smart charging is charging any electrical car which can be controlled externally, enabling adapting charging habits, offering the car the ability of integrating into the entire power system in a user-friendly and grid way. Smart charging helps in facilitating the security of supply and at the same time, meet the needs of the user and the mobility constraints. It is of two types,
Vehicle-to-grid (V2G)- This allows cars in feeding electricity back to the grid. Here the battery in the car can be utilized as a buffer for storing energy during high energy production, yet also act as energy suppliers during low energy production. V2G technology contributes to optimize sustainable energy use.
Grid-to-vehicle (G2V)- This allows cars to charge in different capacities, resting on energy availability. The batteries of electric cars can be charged through a smart means to stop peak loads on grids. It will rest on available capacity and energy demand on the local level. The G2V technology helps in determining at which capacity and when the car will be charged.
Regional Analysis
This market for electric vehicle charging station has seen substantial growth over the past few years and it has been experienced that the market will remain on the same growth level till forecast period. Among the regions covered, Asia Pacific has accounted the largest market, followed by Europe and North America. Major factors that have driven the electric vehicles market are rapidly increasing sales of electric vehicles, supported by government initiatives and increasing fuel prices raising the demand of electric vehicles. The electric vehicle charging station market is currently flourishing in North America. The massive outlay in the development of electric vehicle infrastructure in the form of recharge stations and other policies, are expected to drive the market for electric vehicle charging stations in this region.
In North America, the sales of electric car have doubled since 2014, which clearly implies that the demand for electric vehicle charging stations have been rising on a rapid pace. Over the past few years, the sales of electric vehicles have doubled in the US, which means the market will generate ample revenue. The major factors that have driven the US market are rising demand for electric cars, government initiatives and high disposable income. Europe is one of the most promising regions in the electric vehicles market. This market has achieved an ample scope due to the presence of profitable countries such as Germany, UK, France, Norway and others.
Time to Charge Electric Vehicles
Depending on the capacity of the battery and the features of various car charging stations, time required for charging an electric car may also change. The duration will depend on the number of kilowatts the station can offer as well as the total kilowatts that the car can accept. The greater the wattage, the quicker will be the recharge. Here come the various charging times,
• Rapid Charging- having accessible 43/50 kW will allow one in replenishing the 80% of the battery within an hour.
• Fast Charging- with 7/22 kW charging station, the battery can be recharged from zero within just 3-4 hours.
• Slow Charging- utilizing 3 kW, the battery can be charged to full within 8 hours.
Cornucopia of Options
Charging an electric car is a simple. Just plug the vehicle into a charger which is connected with the grid. But, not every EV charging station is made equal. On the one hand, there are stations that needs custom installations, and on the other, there are some that can be installed by plugging to the standard wall outlet. The time required in charging a car will vary resting on the charger used. Typically, EV chargers are available in three types- Level 1, Level 2, and DC Fast Chargers.
Level 1- This uses a 120V AC plug that can be plugged into the standard outlet. As opposed to other chargers, it does not need installing any additional equipment. It offers 2-5 miles range every hour of charging and mostly used at home. Homeowners use it for charging their cars overnight.
Level 2- This is used in both commercial and residential charging stations. It uses a 240 V in case of residential and 208 V in case of commercial plugs. Level 2 chargers are installed through a professional electrician. It can charge the battery fully within 2 hours, thereby making it an ideal choice for both businesses and homeowners.
DC Fast Chargers- Also called the Level 3 charger, it offers 60-100 miles range for an electric car within 15 minutes of charging. It is generally used in industrial and commercial applications that need high-powered, high specialized equipment to both install and maintain.
Uncertainty and range anxiety regarding access to electric vehicle charging stations are the primary concerns that are cited by new vehicle buyers whenever they are asked as to why they are tentative to lease or purchase an electric car. But not any longer. Charge way Beacon, a stand-up display helps to show the list of charging station networks in the nearby areas. This beacon helps to display every location, and above all can be customized to show those stations that are compatible with vehicles that are sold at that particular dealership.
Electric Vehicles Charging Stations Market – Segments:
Global Electric Vehicles Charging Stations Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding
Segmentation by Charging Type: AC Charging and DC Charging
Segmentation by Connector: CHAdeMO, Combined Charging System and Others
Segmentation by Application: Residential and Commercial
Segmentation by Regions: Comprises regions – North America, Europe, APAC and Rest of the World.
For more information on “Electric Vehicle Charging Station Market Research Report – Global Forecast till 2024” visit: https://www.marketresearchfuture.com/reports/electric-vehicles-charging-stations-market-4647
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