Growing numbers of electric vehicle owners worldwide require vehicle charging systems, so manufacturers are concentrating on maximizing charging stations and charging points to meet these vehicles' operational requirements. In order to meet the rising demand for electric vehicles, the proper charging infrastructure must be developed. Over the projection period, significant advancements in both indoor and outdoor charging are expected. The promotion of electric vehicles by governments around the world is also encouraging the market expansion of EV charging stations.
According to Data Bridge Market Research, the Global Electric Vehicle Charging Stations Market is expected to reach the value of USD 16.9 billion in 2022, would reach up to USD 194.78 billion by 2030, and is expected to undergo a CAGR of 35.74% during the forecast period of 2023 to 2030.
“Clean and advanced transportation surge market demand"
Through the growing concerns about environmental pollution, customers demand clean transportation services. People are considering electric vehicles as a result of their environmental concerns. With the advanced features of EVS, pollution issues, traffic issues, and accidents are expected to significantly decline, according to EVs transportation developers. People are using electric scooters and cycles for daily transportation, which contributes to pollution. To promote clean transportation, the government of many nations has outlawed the use of gasoline-powered vehicles in certain zones. The technological advancements of EVs also produce data planners that customers can use to reorganize parking and roads, which presents a market opportunity for the expansion of electric vehicle charging stations.
What restraints the growth of the global electric vehicle charging stations market?
“High cost of installing charging stations can impede the market growth”
The installation of electric charging stations in developing and underdeveloped areas can be costly due to the lack of adequate infrastructure. The absence of a steady electricity supply in these regions poses a challenge, as charging stations require a reliable power source. Limited access to electricity and insufficient infrastructure may impede the expansion of electric charging stations, making it more expensive and challenging to establish the necessary infrastructure for widespread adoption of electric vehicles in these areas.
Segmentation: Global Electric Vehicle Charging Stations Market
The electric vehicle charging stations market is segmented on the basis of charging stations, charger type, charging type, charging services, mode of charging, connectivity type, charging infrastructure, vehicle type, installation type, connecting phase, technology, operations, components, applications and end user
- On the basis of charging stations, the electric vehicle charging stations market is segmented into ac charging/ normal charging station, dc charging/ super charging station, others.
- On the basis of charger type, the electric vehicle charging stations market is segmented into portable charger, fixed charger.
- On the basis of charging type, the electric vehicle charging stations market is segmented into off board top down pantograph, on board bottom up pantograph, charging via connector.
- On the basis of charging services, the electric vehicle charging stations market is segmented into EV charging services, battery swapping service.
- On the basis of mode of charging, the electric vehicle charging stations market is segmented into plug in charging, wireless charging.
- On the basis of connectivity type, the electric vehicle charging stations market is segmented into non-connected charging stations, smart connected charging stations, pantograph, connectors, combined charging systems, chademo, and others.
- On the basis of charging infrastructure, the electric vehicle charging stations market is segmented into normal charging, type 2, ccs, tesla SC, GB/t fast.
- On the basis of vehicle type, the electric vehicle charging stations market is segmented into passengers cars, commercial cars, battery electric vehicle (BEV), plug-in hybrid electric vehicles (PHEV), two wheelers and scooters, hybrid electric vehicles (HEV).
- On the basis of installation type, the electric vehicle charging stations market is segmented into individual houses, commercial, apartments, and others.
- On the basis of connecting phase, the electric vehicle charging stations market is segmented into single phase, three phase.
- On the basis of technology, the electric vehicle charging stations market is segmented into level 1, level 2, and level 3.
- On the basis of operations, the electric vehicle charging stations market is segmented into mode 1, mode 2, mode 3, and mode 4.
- On the basis of components, the electric vehicle charging stations market is segmented into hardware, software, and services.
- On the basis of application, the electric vehicle charging stations market is segmented into public, semi-public, and private.
- On the basis of end user, the electric vehicle charging stations market is segmented into residential, commercial.
Regional Insights: Asia-Pacific dominates the global electric vehicle charging stations market
Asia-Pacific's dominance in the global electric vehicle (EV) charging stations market can be attributed to several factors. The region has a strong industrial base and is home to major players in the market, contributing to technological advancements and infrastructure development. Additionally, supportive foreign policies and government initiatives aimed at promoting clean transportation further drive the market. The increasing demand for EVs in Asia-Pacific also fuels the need for robust charging infrastructure, solidifying the region's leading position in the market.
North America is poised for substantial growth in the electric vehicle (EV) charging stations market. The region experiences a high demand for EVs and boasts a strong electronic market, with companies such as Tesla leading the way. The availability of a growing market and the increasing need for quality charging infrastructure to support the rising adoption of EVs contribute to the significant growth potential in North America's EV charging stations market.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-electric-vehicle-charging-stations-market
Recent Developments in Global Electric Vehicle Charging Stations Market
- The mobility start-up in India, planned to establish 500 EV charging stations in 11 cities in India. The company has partnered with Midgard Electric as the EV charging partner to install Bharat AC-001 and DC-001 EV chargers for the Automobile’s outlets.
- Around 5000 EV charging stations have been installed by Exicom, a power solutions and telecom equipment company, in 200 Indian cities. The business has set up about 3600 AC and 1400 DC fast chargers in bus stops, public charging stations, homes, and residential neighborhoods.
The Prominent Key Players Operating in the Global Electric Vehicle Charging Stations Market Include:
- ABB (Switzerland)
- ChargePoint, Inc. (U.S.)
- Tesla (U.S.)
- BYD Motors Inc. (China)
- BP p.l.c. (U.K.)
- Webasto Group (Germany)
- Schneider Electric (France)
- Blink Charging Co. (U.S.)
- Renault Group (France)
- Phihong USA Corp. (U.S.)
- EV Safe Charge Inc (U.S.)
- Eaton (Ireland)
- Tata Power. (India)
- SemaConnect, Inc. (U.S.)
- Mercedes-Benz Group AG. (Germany)
- Siemens (Germany)
- EVgo Services LLC (U.S.)
- Engie SA (France)
- TotalEnergies(France)
- Enphase Energy (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global electric vehicle charging stations market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Electric Vehicle Charging Stations Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
