Market Overview:
The electric Vehicle Charging Station Market has assumed growth of USD 155.49 Billion by 2030. As per the market research report, it has an expected CAGR rate of 41.79% during the forecast period of 2030.
There is a sudden rise in the market of electric vehicles globally. There are lots of major drivers of the market that fuel up the growth. The initiatives taken toward electric vehicles, environmental issues, and government policies are significantly increasing the demand for the electric vehicle charging stations market. Because of the high price of petrol, people are adopting this vehicle. By considering this craze, even the manufacturers are developing electric vehicles which have better and longer battery life. Due to the covid 19 outbreak, the market has gone through a loo. The automotive market is also affected like the other industries.
The market has gone through issues like supply chain disruptions, lack of raw materials, reduction in product sales and many more. Well, still, the market has shone and got back its position. The adoption of electric vehicles is increasing in countries like Australia, Canada, India, and Germany.
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In most countries, the government collects funds for developing electric charging infrastructure installations. The major drivers of the market are government subsidies, rebates, tax exemptions, and fixed quotas. The electric vehicle charging station requirement is increasing to run the vehicles smoothly. But at the same time, some restraints like the increasing cost of level 3 charger, affect the market. Even the governments try to make awareness of electric vehicles lower pollution. The major countries like India and USA are taking initiatives towards it!
Market segmentation:
The global electric vehicle charging station market has been divided into the vehicle type, charging station, installation type, connector type, and region.
The market is divided into Battery Electric vehicles and Plug-in Hybrid vehicles based on vehicle type. On the basis of the Charging Station, it is divided into the DC charging, Inductive charging stations and AC charging stations. Among all of the 3, the Ac charging stations dominate the market.
When it comes to segmenting the market on the basis of Connector Type, the global market of vehicle charging stations into Combined charging systems, Chademo, and Others. Among all of them, the combined charging system is rising at a rapid pace! Based on the installation type, the global market is divided into the Residential and commercial segments. In between them, The residential segment accounts for the largest market share.
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Regional analysis:
The global market is also segmented into the regions Europe, Asia-Pacific, North America, and the Rest of the world. Among all of them, the Asia-Pacific dominates the market. Among all of them, Asia-Pacific dominates the global market, and that is followed by Japan, China, India, and Singapore. After that, North America is expected to hold the largest share in the upcoming period.
Industry News
In the year 2020, the biggest platform, BYD, launched a mobile charging service for consumers to charge their EVs in emergency conditions. In the year 2020, ABB, the platform of the Netherlands, started the construction of EV chargers.
Key Players
· Siemens
· Schneider Electric
· ABB
· Tesla
· Eaton
· EVgo Services LLC
· ChargePoint Inc.
· Leviton Manufacturing Co. Inc.
· The New Motion B.V.
· Webasto Group
Segmentation
By Charging Station
· Ac Charging Station
· Dc Charging Station
· Inductive Charging Station
By Connector Type
· Ch Ade Mo
· Combined Charging System
· Others
By Installation Type
· Residential
· Commercial
By Vehicle Type
· Battery Electric Vehicle (Bev)
· Plug In Hybrid Vehicle (Phev)
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