The global Electric Vehicle Charging Stations Market is forecasted to be worth USD 49.53 Billion by 2027, according to a current analysis by Emergen Research. An increase in the number of electric vehicles and advancement in technology will drive the demand for the market.
To promote the electric vehicle charging infrastructure, a lot of governments at various levels have crafted regulations through mandating the “make-ready” infrastructure in buildings. Governments all over the world are investing heavily in the charging infrastructure to provide ample opportunities for the OEMs to expand their revenue and business. The recent advancements in the technology of EVs have provided a lucrative opportunity for its growth to transform the transportation sector. The electric vehicles are anticipated to approach cost-competitiveness with conventional fuel vehicles, due to the increased production volumes and reduction in battery costs during the forecast period.
The need to reduce the level of pollution and increased investment by the government is driving the demand for Electric Vehicle Charging Stations Market.
Electric Vehicle Charging Stations Market Size – USD 3.64 Billion in 2019, Market Growth – CAGR of 38.5%, Market trends –Reduction in the price of Lithium-ion batteries.
However, the high cost required in the overhaul, initial investment, and maintenance is hampering the market’s development. The dramatic reduction in greenhouse gas emissions, local air pollution, and resulting climate change impacts, and low oil usage from the transportation sector owing to the usage of electric vehicles promise a breakthrough in the future transportation sector.
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According to a study completed by Electric Vehicle Charging Stations on the “Global Electric Vehicle Charging Stations Market” encompasses detailed information on the product and industry scope, current and future market size and scenario, and forecasts to the year 2025. It uses primary data and briefing from market players to improve the accuracy of the results. The market study is segmented by key regions along with country-level division. Identifying those factors that help in accelerating the market growth.
Key participants include ABB Ltd., Chargepoint, Inc., Tesla Inc., EVGO Services LLC, BP Chargemaster, SemaConnect Network, EV Connect, Greenlots, Electrify America LLC., and OPConnect, Inc., among others.
This report covers the recent COVID-19 incidence and its impact on Keyword. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
CCS (Combined Charging System) is an open and universal charging standard for electric vehicles and covers single-phase AC, three-phase AC, and DC High-Speed Charging in both the European region and the US.
Level 2 charging stations use either single or three-phase AC power from the grid. AC level 2 is a 240-volt AC plug that requires the installation of home charging equipment. Level 2 charging can take place between 3 and 8 hours, depending on the battery capacity of the vehicle, and the charging rate falls within a range of 3kW to 20kW.
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Charging Infrastructure Type Outlook (Revenue, USD Billion; 2017-2027)
Charging Level Outlook (Revenue, USD Billion; 2017-2027)
Level 1 (120 V)
Level 2 (208 V – 240 V)
Level 3 (Upto 600 V)
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Plug-In Hybrid PHEV
EV Passenger Cars
Heavy Delivery Vans
Installation Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
In market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
The global Electric Vehicle Charging Stations market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Electric Vehicle Charging Stations sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
For the forecast period considered by the report, accurate speculations on the market value and volume are presented according to their type and application. In the same period, the report also provides an in-depth analysis of the market value and consumption for each region. These insights shed light on prevalent strategies for the future and take precautionary and smart steps. Different types of analysis, like the investment feasibility analysis and SWOT analysis, are depicted extensively with insights on the market restraints.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
The report considers the following timeline for market estimations:
Historical Years: 2017 – 2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020 – 2027
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