Primarily Driven by Europe, Electric Vehicle Charging Services Market Skyrocketing

Disposable incomes, quality development in infrastructure, growing awareness about safeguarding environment are all few of the many factors aiding revenue of electric vehicle charging services market.

Vehicle charging infrastructure is nothing but a vehicle charging station/ electric vehicle supply equipment – EVSE with an aim to supply electric energy to charge the battery of electric vehicles. Time of usage and type of usage define the overall type of charging equipment. Electric vehicle charging services, also commonly known as electric vehicle charging station or electric vehicle supply equipment (EVSE) is enjoying global popularity of the electric and hybrid vehicles as a result of growing environmental awareness is expected to remain the key growth driver for electric vehicle charging services during the period of study.

Market Growth Trends:

Automakers are actively involved in infrastructure deployment which is widely affecting the dynamics of the global industry. The global electric vehicle (EV) charging market is in a transitional phase due to the coming influx of plug-in electric vehicles (PEVs) from premium automakers. It is also being influenced by the introduction of PEVs with much longer range at affordable price points. Meanwhile, governments are looking to promote PEV charging, especially in Europe and China. The latter country in particular seeks to build on the 2015 success of the Chinese PEV market. In the United States, utilities are starting to become bigger players in the charging infrastructure space.

Geographical Overview:

Region wise, higher penetration, consumption and adoption of electric vehicles in Europe, has made this region extremely dominating in the past few years of the global electric vehicle charging services market. The primary reason for better adoption of electric vehicle charging systems among Europe is the growing awareness towards environment among its citizens a highly developed infrastructure in the region.

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On the other hand, North America and APAC were noted to have followed Europe in the last couple of years of observation. While North America stood on position 2 and APAC stood on position 3, APAC is pegged to be growing at the fastest CAGR owing to increasing demand of hybrid automobiles in developing nations such as China and India due to increasing disposable income with majority of people in these nations and growing environmental awareness.

Segmentation Outlook:

IndustryARC experts have studied all types and sub types of the EVCS market with in depth analysis in this report based on certain deciding factors like:

  1. By Charging Station: AC, DC and Inductive Charging Stations

  2. By Connector Type: CCS, Chademo and Others

  3. By Location: Public and Private

  4. By Geography: Europe, APAC, North America and Rest of the World

Vendors Brief:

More than 40 industry players (both established and non-established) are considered and studied in-depth in this research analysis report by IndustryARC experts:

  • Delphi Automotive PLC.

  • Eaton Corporation PLC.

  • Siemens AG

  • Tesla Motors Inc.

  • Chargepoint Inc.

  • Leviton Manufacturing Co., Inc.

  • POD Point Ltd.

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