Electric Vehicle Charging Stations Market, By Charging Station (AC Charging Station, DC Charging Station, Inductive Charging Station), Connector Type (CHAdeMO, CCS, Others), Location (Public, Private), and Region – Global Trend And Forecast To 2022“APAC to be the leading market for electric vehicles during the forecast period”
The growth of the EV market is attributed to significant incentives offered by the Chinese Government for vehicle buyers and tightening emission regulations. Further, other countries such as South Korea and India are taking initiatives to reduce greenhouse gas emissions by increasing the use of electric vehicles. The leading players contributing to the growth of the region are JAC Motors (China), BYD Co. Ltd. (China), BAIC Group (China), SAIC Motor Corporation Limited (China), Nissan Motor Company Ltd. (Japan), Mitsubishi Motors Corporation (Japan), and Toyota Motor Corp. (Japan).
“Electric vehicle charging stations market to exhibit high growth potential during the forecast period”
The electric vehicle charging stations market is expected to grow at a CAGR of 29.8% between 2016 and 2022 and estimated to reach USD 12.61 billion by 2022. Key driving factors for the growth of the electric vehicle charging station market are government subsidies and incentives, increasing use of EVs, and the growing need to reduce carbon emissions.
“Electric vehicle charging stations market for inductive charging stations expected to grow at the highest CAGR during the forecast period“
The market for inductive charging stations is estimated to grow at the highest CAGR between 2016 and 2022. The technology is still in the research and development stage. It is estimated that the market will evolve post 2016 and is expected to exhibit high growth. Participants from various verticals such as telecom, industrial automation, and utilities are transforming the market by establishing their presence. Further, companies such as Evatran Group Inc. (U.S.) and Qualcomm Inc. (U.S.) have launched prototypes and demonstration projects through joint ventures and partnerships, which is expected to drive the growth of this market. For instance, in June 2015, the Evatran Group Inc. (U.S.) partnered with Zhejiang VIE Science and Technology Company (VIE, China) and got an initial investment of USD 1.6 million from VIE to introduce wireless electric vehicle charging products to China.
“Americas to be the fastest-growing market for electric vehicle charging stations during the forecast period”
The market in the Americas is expected to grow at the highest CAGR between 2016 and 2022. The growth is attributed to the shift towards low emission vehicles, tax credits in various cities in the U.S. for the installation of charging stations, and the U.S. Government’s subsidies and incentives to boost the deployment of EV charging stations under the American Recovery and Reinvestment Act (ARRA).
Break-up of profile of primary participants for the report as given below:
The key players in the market include ABB Ltd. (Switzerland), AeroVironment Inc. (U.S.), ChargePoint Inc. (U.S.), Delphi Automotive Plc. (U.K.), Eaton Corp. Plc. (Republic of Ireland), Elektromotive Limited (U.K.), GE Company (U.S.), Pod Point Ltd. (U.K.), Schneider Electric SE (France), SemaConnect Inc. (U.S.), Siemens AG (Germany), and Tesla Motors Inc. (U.S.).
Reasons To Buy the report:
- By Company Type - Tier 1 – 40%, Tier 2 – 35% and Tier 3 – 25%
- By Designation – C level – 45%, Director level – 30%, Manager level – 25%
- By Region –Americas - 30%, Europe – 20%, APAC – 35%, RoW – 15%
- This report includes the EV market statistics based on vehicle type and geography.
- Illustrative segmentation, analysis, and forecast for markets based on charging station, connector type, location, and region has been conducted to give an overall view of electric vehicle charging stations market.
- The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the electric vehicle charging stations market.
- Major drivers, restraints, opportunities, and challenges for the electric vehicle charging stations market have been detailed in this report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.