Asia-Pacific Electric Vehicle Charging Stations Market, By Charging Station (AC Charging/Normal Charging Station, DC Charging/Super Charging Station and Inductive Charging station), Vehicle Type (Battery Electric Vehicle (BEV) and Plug-In Hybrid Electric Vehicles (PHEV)), Installation Type (Individual Houses, Commercial, Apartments and Others), Technology (Level 1, Level 2 and Level 3), Charger Type (Portable Charger and Fixed Charger), Country (China, Japan, South Korea, Australia, India, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) Market Trends and Forecast to 2027
Market Analysis and Insights: Asia-Pacific Electric Vehicle Charging Stations Market
Asia-Pacific electric vehicle charging stations market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 49.5% in the forecast period of 2020 to 2027 and expected to reach USD 51,006.25 million by 2027. Increasing adoption at commercial level is aiding growth of this market.
Growing need for alternative to traditional fuel and increasing demand derive the need for electric vehicle charging technologies which are since its inventions providing very fine outcomes at very cost effective rates. Many commercial places are adopting electric vehicle charging station in order to save upon cost of traditional fuel.
The electric charging stations can be installed in parking garages, near to supermarket, offices, homes, and other related applications. The cost of the charging stations varies on the basis of the type of the technology used for the particular type of battery, which can also charge up the vehicle fast. Some of the factors which are driving the market are increasing demand for electric vehicles, incentive &subsidies by government for electric vehicles, increasing environmental concerns. However, the high upfront cost and lack of common charging technology are the factors restraining the growth of the market.
This electric vehicle charging stations market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Electric Vehicle Charging Stations Market Scope and Market Size
Asia-Pacific electric vehicle charging stations market is segmented into five notable segments which are based on charging station, vehicle type, installation type, technology and charger type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of charging stations, the Asia-Pacific electric vehicle charging stations market is segmented into AC charging/normal charging station, DC charging/super charging station and inductive charging station. In 2020, AC charging/normal charging station holds the major market share in charging station segment as it is suitable charging for EV batteries; however DC charging/ super charging station is growing at highest rate in the segment as commercial stations are mostly installing DC charging stations for faster charge.
- On the basis of vehicle type, the Asia-Pacific electric vehicle charging stations market is segmented into battery electric vehicle (BEV) and plug-in hybrid electric vehicles (PHEV). In 2020, the vehicle type segment is dominated by battery electric vehicle (BEV) and expected to grow at higher rate owing to its low cost and lower maintenance features.
- On the basis of installation type, the Asia-Pacific electric vehicle charging stations market is segmented into individual houses, commercial, apartments and others. Commercial is further segmented into public stations and others. In 2020, the individual houses accounts for the largest share in installation type segment as most of EV owners prefer to charge their vehicle at residence.
- On the basis of technology, the Asia-Pacific electric vehicle charging stations market is segmented into level 1, level 2 and level 3. In 2020, level 2 segment is dominating the technology segment as it resembles AC charging; however level 3 is expected to grow at higher rate as it collaterally resembles DC charging.
- On the basis of charger type, the Asia-Pacific electric vehicle charging stations market is segmented into portable charger and fixed charger. In 2020, the charger type segment is dominated by fixed chargers as fixed chargers provide better efficiency; also due to rising number of commercial charging station, need for portable chargers is reducing.
Asia-Pacific Electric Vehicle Charging Stations market Country Level Analysis
Electric vehicle charging stations market is analysed and market size information is provided by country, charging station, vehicle type, installation type, technology and charger type.
The countries covered in Asia-Pacific electric vehicle charging stations market report are China, Japan, South Korea, Australia, India, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific.
China dominates the Asia-Pacific electric vehicle charging stations market as it is largest manufacturer and service providers of the electric vehicle charging stations and heavy research and development investments are taking place in the country. Japan and South Korea are also dominating the Asia-Pacific electric vehicle charging stations market as the usage of electric vehicles in increasing due to the awareness in market and the stringent government rules and regulations regarding emission. The adoption of pollution free energy in the market is also responsible factor for the region to dominate the market.
The country section of the electric vehicle charging stations market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Electric Vehicle Charging Stations
Asia-Pacific electric vehicle charging stations market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in electric vehicle charging stations and changes in regulatory scenarios with their support for the electric vehicle charging stations market. The data is available for historic period 2018 to 2027.
Competitive Landscape and Electric Vehicle Charging Stations Market Share Analysis
Asia-Pacific electric vehicle charging stations market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Asia-Pacific electric vehicle charging stations market.
Some of the major players operating in the Asia-Pacific electric vehicle charging stations market are Tesla, Inc., Daimler AG, Siemens, Total, ChargePoint, Inc., ABB, Webasto Thermo & Comfort, Shell International B.V., Schneider Electric, Groupe Renault, Phihong USA Corp., Eaton and Tata Power among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of Asia-Pacific electric vehicle charging stations market.
- In March 2019, Tesla launched V3 Supercharging which is the world’s largest grid-connected batteries that enables the vehicles to charge faster than any other electric vehicle. The V3 supercharging is inbuilt with the 1MW power cabinet that is having the same design for utility-scale products that support peak rates of up to 250kW per car. The launch of the new product is going to enhance the brand image along with productivity for the company enhancing its revenue.
- In March 2018, Siemens introduced VersiCharge which is a new charging unit for electric vehicles as per the IEC standards. The VersiCharge can be charged safely, quickly, and cost-effectively. The new product launch meets the higher protection class IP 56 for DC residual current location. The launch of the product is going to enhance the credibility and brand image which is going to attract more customers and maximize the profit for the company.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for electric vehicle charging stations through expanded range of size.
Customization Available: Asia-Pacific Electric Vehicle Charging Stations Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.