The electric vehicle charging station market is expected to record a CAGR of 38.45% during the forecast period, 2019-2024.
The Global Electric Vehicle Charging Station Market report offers a comprehensive analysis of the Global market. This report focused on market past and present growth Globally. Global research on Global Electric Vehicle Charging Station Industry presents a market overview, product details, classification, market concentration, and maturity study. The market value and growth rate from 2019-2025 along with industry size estimates are explained.
The electric vehicles (EV) market has been witnessing significant growth, owing to the growing environmental concerns and rising demand for sustainable and energy efficient transportation.
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Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
ABB, ChargePoint Inc., Schneider Electric SE, Siemens AG, Tesla Motors Inc., AeroVironment Inc., Leviton Manufacturing Co. Inc., SemaConnect Inc., The Newmotion BV, Efacec, EVgo, Alfen
Market segment by Regions/Countries, this report covers
North America (U.S., Global, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa
Growing Sales of Electric Vehicles
Electric vehicle market has witnessed rapid growth in recent years.
– The electric vehicle market has been witnessing healthy growth in the recent years, with about 1.9 million units of battery electric vehicles (BEVs) in use in 2017, compared to 109 thousand units of BEVs in 2012.
– This spike in sales has been the result of an increase in regulatory norms, by various organizations and governments, to control emission levels and to propagate zero-emission vehicles.
As a result of the aforementioned reasons, automakers have been continually working and focusing to increase their expenditure on R&D of electric vehicles, which, in turn, is aiding the OEMs to market electric vehicles as the future.
Governments across the world are pushing the EV envelope to reduce the rising pollution from fuel-powered vehicles.
– For instance, France and the United Kingdom have given automakers a deadline to go fully electric by 2040.
– China, which sold half a million EVs in 2016, has set out its own roadmap to completely make its transportation electric by 2030.
– Last year, Germany, home to major automakers, such as Volkswagen, BMW, and Mercedes, decided to ban IC engines by 2030.
Thus, the rising trend of electrification of vehicles is expected to propel the demand for electric vehicle charging stations.
China is leading the Electric Vehicle Charging Station Market
Geographically, China is leading the electric vehicle charging station market, followed by Europe. China is the largest market for electric cars and buses across the world, registering more than 1.3 million vehicles in 2018. The new energy vehicle (NEV) share in all light vehicles sold was 7.9%
With the rise in EV sales and demand in the country, the demand for fast charging stations has been increased to support the rising EVs in the country. The idea of implementing DC fast charging infrastructure in the country started in 2013, by partnering with ABB.
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Some of the major players in the electric vehicle charging station market are EVgo, ABB, ChargePoint Inc. Siemens AG, Tesla Motors Inc, SemaConnect Inc., etc. EVgo has announced that the company has contracted for 100% renewable energy to power its customers, and going to be the first EV charging network in the United States to do so. The company contracts with its energy suppliers and renewable energy certificate (REC) partners to ensure that each gigawatt-hour delivered on its fast charging network financially supports an operating renewable energy generator in the United States.
ABB signed a formal agreement with SAIC Volkswagen, under which the company will provide robotics painting solutions for the first new energy vehicle (NEV) factory of the Volkswagen Group based on the modular electric driver kit (MEB), an automotive platform specifically designed for the mass production of electric vehicles. Financial details were not disclosed.
The key insights of the Electric Vehicle Charging Station Market report:
─The report provides key statistics on the market status of the Electric Vehicle Charging Station market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
─The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
─The Electric Vehicle Charging Station market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.
─The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
─The report estimates 2020-2024 market development trends of Electric Vehicle Charging Station Market.
─Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
─The report makes some important proposals for a new project of Electric Vehicle Charging Station Industry before evaluating its feasibility.
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Finally, this Electric Vehicle Charging Station report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Electric Vehicle Charging Station product development and gives an outline of the potential Global market.
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