Electric Vehicle Charging Station Market is valued at USD 17.46 Billion in 2021 and expected to reach USD 130.13 Billion by 2028 with CAGR of 33.23% over the forecast period.
An electric vehicle charging station is the future of smarter, reliable, and emission-free mobility, accessible by everyone, everywhere. Electric vehicle charging station simply deliver energy to the vehicle in the generally form of high voltage AC or DC supply. They have the functions of the charger which must transform the electrical energy into a form which can be applied directly to the battery. Vehicle charging station, also called EV charging station, electric recharging point, charging point, charge point, ECS and electric vehicle supply equipment, electric vehicle charging station, it is a part in an infrastructure that supplies electric energy for the recharging of plug-in electric vehicles—including electric cars, neighborhood electric vehicles and plug-in hybrids.
Some major key players for global electric vehicle charging station market are-
Electric Vehicle Charging Station Market is segmented in by installation type, supply type, connector type and by region. By installation type, the global electric vehicle charging station market is segmented as home charging stations and public charging stations. By supply type, global electric vehicle charging station market is segmented as AC charging stations, DC (fast) charging stations, and others (inductive). By connector type, global electric vehicle charging station market is segmented as CHAdeMO, CCS, GB/T, tesla supercharger, and others (inductive).
Market Dynamics –
The demand of electric vehicle charging station is driving due to increase sale of electric vehicle. According to Edison Electric Institute, the sale of electric vehicle was about 312,000 in Q1 2018, an increase of 58% compared to Q1 2017. Additionally the increasing electric infrastructure and rising emission concern, government of all nations are supporting the demand of electric vehicle charging station. Furthermore fully charging EV is a time-consuming process and it can take some hours by using a household power supply. In addition, EVs are able to drive short distances compared to gasoline-engine vehicles. To resolve these issues, a charging infrastructure on a national scale is important; such factor drives the market growth. However, the high cost of investment and high cost of EV restrain the growth of market.
Regional Analysis –
Increasing number of electric vehicle charging station from Asia pacific is due to huge demand from countries such as China and Japan. Additionally India is taking initiatives to reduce greenhouse gas emissions by increasing the use of EVs. For instance on 17th Jul 2019 according to Auto Car India, Government of India taking incentivize to setting up minimum of 6,000 charging station. Furthermore, according to livemint, the Indian government Budget in 2019, planned to provide extra income tax deduction of on loans taken to purchase electric vehicles. Moreover, Vakrangee is going to invest and set up electric vehicle (EV) charging stations across India.
North America and Europe will continue to remain important in the global electric vehicle charging station market. The High awareness levels among people and strict pollution-control policies are fueling growth in countries of North America and Europe. The thriving EV automobile industry is also a positive for the North America electric vehicle charging station market. According to Edison Electric Institute, U.S. EV sales in Q1 2018 raised by around 32% as compare to Q1 2017, same in Europe growth of 39% in Q1 2018, and it is continuously grow and the demand of charging station in this region is controlled.
By Regional & Country Analysis:
The regions covered in this electric vehicle charging station market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Oil Country Tubular Goods is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 17.46 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||33.23%|
|Market Size Expected in 2028:||USD 130.13 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||ChargePoint, ABB, Tesla, Engie, AeroVironment Mojo Mobility, GENERAL ELECTRIC, WI Tricity Corporation, EVgo ServicesLLC., EVBox, Teld New Energy, Star Charge, Shell plc, Siemens AG, Schneider Electric SE, Others.|
|Segments Covered||By Installation Type analysis, By Supply Type analysis, By Connector Type analysis|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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