Electric Vehicles Charging Stations Market Propelling at CACR of More Than 30% By 2023

Market Research Future published a research report on “Electric Vehicles Charging Stations Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Electric Vehicles Charging Stations Market Information Report, By Charging Type (AC Charging and DC Charging), By Connector (CHAdeMO, Combined Charging System and Others), by Application (Residential and Commercial) and By Region – Forecast To 2023


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.


Global Electric Vehicles Charging Stations Market   – Overview 

Electric vehicles offer great potential to dramatically reduce local air pollution, greenhouse gas emissions and resulting climate change impacts, and oil use from the transport sector. With electric vehicle costs steadily falling, the transition continues to become more feasible. This potential is enabled and made compelling by the ubiquity of electricity and the growing availability of low-carbon, renewable energy sources. Governments, across the globe, are striving to encourage the adoption of electric vehicles. Incentive programs, such as tax rebates, grants, and subsidies, have been launched to promote electric vehicles charging stations.


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The increasing adoption of electric vehicles is expected to be more in the passenger cars segment, in comparison with the commercial vehicle segment. The increase in adoption, can be attributed to the growing research & development activities and initiatives undertaken to improve the existing EV models, and make them competitive with the available fuel-powered car models. Whereas, high cost of electric vehicles and the high speculation required in the underlying organization of charging stations are making significant barriers to development. 

One trend in the market is powering EV charging stations through renewable energy. Charging stations powered by solar panels is one such trend in the industry. The decreasing price of solar panels and their easy installations on business buildings and shopping malls are driving this trend in the market. 

Global electric vehicles charging stations market is growing with the rapid pace; mainly due to Advancement in technologies. According to a recent study report published by the Market Research Future, The global market of electric vehicles charging stations is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).


Electric Vehicles Charging Stations Market   – Competitive Analysis 

Electric Vehicles Charging Stations market appears to be competitive with the presence of several large and small players operating in the Electric Vehicles Charging Stations Market. These Key players compete based upon pricing, quality, Technology and reputation. Electric Vehicles Charging Stations market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. The report also considers key trends that will impact the industry and profiles of leading suppliers of Electric Vehicles Charging Stations market. Some of the top companies mentioned in the report are Bosch Automotive Service Solutions (Germany), Bolloré Group (France), Chargemaster Plc. (UK), Delphi Automotive (UK), ABB Ltd (Switzerland), General Electric Company (US), Tesla Motors Inc. (U.S.), Siemens AG (Germany), Eaton Corporation (Ireland), and Schneider Electric (France). Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices.


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Industry/ Innovation/ Related News:

October 18, 2017: ABB plans 4,500 EV Charging Stations across India

June 27, 2017 : ChargePoint, Inc. the world’s largest electric vehicle (EV) charging network, announced that it has acquired GE’s EV charging network which adds more than 1,800 commercial and about 8,000 residential charging spots to its network.


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.


Electric Vehicles Charging Stations Market – Regional Analysis

Asia Pacific expected to be the largest market for electric vehicle charging stations during the forecast period. Asia Pacific is a lucrative market with high growth potential owing to the rapidly increasing numbers of electric vehicles in countries such as China and Japan. In the past few years, China has witnessed growth in both electric vehicles and their charging infrastructure. Moreover, Japan is referred as growth region for the EV charging stations and recently passed a key milestone by having more EV charging stations than petrol stations. Further, governments in the region are investing a large amount for the R&D related to EVs and the expansion of the charging infrastructure. Furthermore, companies are working towards upgrading Electric Vehicle Supply Equipment (EVSE) to make them more convenient.


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