The research document on ‘Global Electric Vehicle Charging Infrastructure Market’, containing in-depth scrutiny of the vital aspect of this business sphere, aims to provide thorough knowledge about promising investment prospects to the readers.
According to seasoned analysts, global electric vehicle charging infrastructure market was worth $11.3 billion in 2019, and is anticipated to grow with an impressive CAGR of 33.4% over 2020-2027 to reach a valuation of $113.2 billion by the end of the analysis timeframe.
Rising environmental cognizance, in consort with efforts towards to reducing carbon footprint and GHG emissions are boosting the adoption of electric vehicles, in turn fostering the demand for EV charging stations.
As per the report, worldwide electric vehicle charging infrastructure marketplace is examined with respect to charger type, connector ambit, and application scope. Information about sales volume, revenue contribution, and industry share held by each segment is mentioned. Moreover, the geographical reach of the market, and known players operating across these regions are explicated to better understand the competitive scenario of the market space.
Statistics by International Energy Agency reveal that there were around 380 hydrogen refueling stations across the globe in 2018 with approximately 11,200 FCEVs (fuel cell electric vehicles), both of which are poised to surge, with refueling stations touching 3000 mark and FCEVs stock reaching 2 million by the year 2025.
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For the unaware, electric vehicle charging infrastructure, as name suggests, supports the charging of electric vehicles and swapping of discharged battery with fully charged one from shelf. Strategic alliance among market moguls, including collaborations, acquisitions & mergers, are stimulating the worldwide electric vehicle charging infrastructure market outlook.
Citing an instance, Tesla Inc. introduced the largest grid-connected battery V3 Supercharging in 2019, for faster charging of electric vehicles. Likewise, BYD Auto Co. Ltd. and Amply Power Inc. entered into partnership in October 2019, to offer affordable solutions to fleet operators to migrate to electric vehicle.
Despite the positive scenario, absence of standardization in EV charging infrastructure is slated to act as a major challenge for the market expansion in the coming years.
Enlisting market segmentations:
Based on charger type, global electric vehicle charging infrastructure industry is classified into fast charger, and slow charger. While different connectors considered in the report are combined charging system (CCS), CHAdeMO, and others. Commercial, and residential are two application areas of EV charging infrastructure.
Expounding regional outlook:
Reliable estimates divulge that Asia Pacific led the global electric vehicle charging infrastructure industry forecast in the recent past and will showcase similar growth trend through 2027. With China, South Korea, and Japan being the production hubs for electric vehicle, and constant investments towards development of charging infrastructure are positively swaying the business dynamics in APAC.
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Global Electric Vehicle Charging Infrastructure Market Competitive Dashboard (Revenue, USD Billion, 2017-2027)
- Schneider Electric SE
- SemaConnect Inc.
- Leviton Manufacturing Co. Inc.
- General Electric Company
- Eaton Corp. plc
- ClipperCreek Inc.
- ChargePoint Inc.
- (BP) Chargemaster Ltd.
- ABB Group
- AeroVironment Inc.
Global Electric Vehicle Charging Infrastructure Market Size study and Regional Forecasts 2020-2027
Global Electric Vehicle Charging Infrastructure Market to reach USD 113.2 billion by 2027, as per new research report. Global Electric Vehicle Charging Infrastructure Market is valued approximately at $11.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 33.4% over the forecast period 2020-2027.
The electric vehicle charging infrastructure is a charging station for electric vehicles and further supports swapping of discharged batteries in a vehicle with fully charged batteries from a shelf. The rising adoption of electric vehicles due to levels of carbon emissions and other harmful gases stemming from transportation have increased the growth of the electric vehicle charging infrastructure market.
