Vancouver, B.C., September 11, 2020 – The Global Electric Vehicle Fast Charging System Market is projected to reach USD 2.30 billion in 2027. The market is expected to be driven due to a higher proliferation of the proliferation of the global electric vehicle sales, technological advancements in EV charging infrastructure, battery management, & electric vehicle sustainability, and increasing push from the governments for the deployment of highway electric vehicles and fast public charging infrastructure and its wide availability.
The increasing focus by various automotive firms such as BMW, Tesla, Volkswagen Group, and ChargePoint, Inc., among others, on the installation of the advanced charging stations throughout various destinations, including movie theatres, shopping malls, stadiums, hotels, and airports, among others, is projected to fuel the demand for the overall market. Also, numerous public transport agencies collaborating with automotive companies for the setting up of charging stations that are capable of offering fast charging systems for electric buses are causing a huge market growth.
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The market is projected to see a substantial growth owing to its huge implementation in various areas verticals especially in North American region. Extensive proliferation of the EV fast charging infrastructure especially in the United States and rising investment in the EV charging infrastructure, is anticipated to stimulate demand for the market.
The latest market intelligence report, titled ‘Global Electric Vehicle Fast Charging System Market’, is intended to provide the target audience with the necessary information about the global Electric Vehicle Fast Charging System industry.
Key Highlights of the Electric Vehicle Fast Charging System Market Report:
- Heavy duty vehicles are unable to use a similar fast charging infrastructure as the passenger cars. They require bigger battery packs, higher-power stations, and draw more energy and require faster charging systems to charge quickly. This way, the demand for the heavy duty vehicles are deliberately being boosted.
- In March 2019, Tesla introduced V3 Supercharging, the next step towards the growth of Tesla’s Supercharger network.
- In January 2019, Tesla planned on installing more superchargers for its electric vehicles across Europe. Major expansions happened in Southern and Eastern Europe.
- Key players in the Electric Vehicle Fast Charging System market include Advanced Vehicle Manufacturing, Inc., Delta Electronics, Inc., EVBox, ABB, Blink Charging Co, ChargePoint, Inc., Elmec Inc, Hong Kong EV Power Limited, GARO, Proterra Inc., Schneider Electric, and Siemens, among others.
The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Electric Vehicle Fast Charging System market players.
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The research study presents an industry-wide summary of the Electric Vehicle Fast Charging System market, including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The Electric Vehicle Fast Charging System7 report analyzes the market based on different categories, such as product types, end-user applications, and leading geographical regions.
The Electric Vehicle Fast Charging System market report provides an in-depth analysis of the key competitors operating in the industry. The report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.
- Vehicle Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Light Duty Vehicles
- Heavy Duty Vehicles
- Electric Bikes
- Charger Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Tesla Supercharger
- TYPE-2 (IEC 62196)
- Installation Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Application Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Battery Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Nickel-Cadmium (Ni-Cd)
- Lithium-ion (Li-ion)
- Solid State Lithium-ion (SSB)
- Vehicle Technology Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicles (BEVs)
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The market in the Asia Pacific region, in terms of value, contributed to the largest market share of plug-in hybrid PHEV in 2019 and is likely to grow at the fastest rate of 39.8% in the forecast period, attributed to increasing concern towards environmental pollution and government support to promote sustainable mobility.
The Electric Vehicle Fast Charging System industry report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered in the Report:
- What is the growth rate of the Electric Vehicle Fast Charging System market? What is the anticipated market valuation of the Electric Vehicle Fast Charging System industry by 2027?
- What are the key growth driving and restraining factors of the Electric Vehicle Fast Charging System market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are the key opportunities and growth prospects of the Electric Vehicle Fast Charging System industry over the forecast period?
- Which region is expected to show significant growth in the coming years?
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