Global Electric Vehicle Charging Station Market
Since past few years the electrification of transport has been in the headlines with market deployment predicted to grow rapidly over the next years. However, to meet the future targets of deployment of electric vehicles requires access to charging infrastructure, which is the major factor driving the growth of EV charging station market especially in developed countries. To support the growing sales of electric vehicles and to encourage more adoption of electric vehicles more charging points (especially in residential sector) will be needed in nearby future. China is the leading market for electric vehicles as well as for the charging infrastructure with more than 150,000 public charging points across the country.
Goldstein Research analyst forecast the global electric vehicle charging station market to grow at a CAGR of 25.7% during the period 2016-2024. Further the market is projected to reach USD 12.9 billion by the end of forecast period i.e.2016-2024.
Covered In This Global Electric Vehicle Charging Station Market Report
The report covers the present ground scenario and the future growth prospects of the global electric vehicle charging station market for 2016-2024 along with the revenue from electric vehicle charging stations in every region. We calculated the market size and revenue share on the basis of revenue generated from the retail sales of EV charging equipment to individual customers and commercial users and the number of electric vehicle charging station across the globe.
By Charging Station Type
- AC Charging Station
- DC Charging Station
- Inductive Charging Station
By Charging Connectors Type
- CHAdeMO (Charge de Move)
- CCS (Combined Charging System)
- Others (Supercharger Connectors etc.)
By Charging Station Location
- North America (US, Canada) Electric Vehicle Charging Station Market
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Electric Vehicle Charging Station Market
- Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Electric Vehicle Charging Station Market
- Latin America (Brazil, Mexico and Rest of Latin America) Electric Vehicle Charging Station Market
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Electric Vehicle Charging Station Market
Based on charging station type AC charging stations accounted for the highest revenue share of more than 45% in global EV charging station market. Further, the AC charging station is expected to grow at a CAGR of 18.4% over the forecast period and will remain the dominating segment in the forecast years.
Global Electric Vehicle Charging Station Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global electric vehicle charging station market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global electric vehicle charging station market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our global electric vehicle charging station market report comprises of the following companies as the key players in the global vehicle charging station market: ABB Ltd., AeroVironment Inc., ChargePoint Inc., Delphi Automotive Plc., Eaton Corp. Plc., Chargemaster Plc, GE Company, Pod Point Ltd., Schneider Electric SE, SemaConnect Inc., Siemens AG, Tesla Motors Inc., Clipper Creek Inc., Leviton, Evatran, Addnergie, Bosch, Efacec, EV-Box, Mojo Mobility, Momentum Dynamics corporation, POD Point, Signet Electronic Systems and WiTricity.
According to our global electric vehicle charging station market study on the basis of extensive primary and secondary research, one major trend that is driving the growth of electric charging station is the rising environmental concerns among both governments and individuals across the globe. Various government across the globe are taking initiatives to encourage people for the adoption of electric vehicles and major OEMs are also focusing on EV segments to reduce carbon emissions and to take advantage of the growing market of EVs. Further, the governments are also developing public charging infrastructure to support the mass deployment of electric vehicles.
According to the report, major driver in global electric vehicle charging station market is growing sales of electric vehicles in past from past few years. The sales of electric vehicles are majorly driven by the volatility in oil prices, deteriorating urban air quality and climatic changing conditions. After the escalating sales of electric vehicles from 2010, stocks of the electric vehicles accounted for more than 1.2% of total passenger cars as of the end of 2016. The Electric Vehicle Initiative seeks to facilitate global deployment of at least 20 million electric passenger cars, by 2020 which is likely to impel the growth of electric vehicle charging station market across the globe.
Further, the report states the one challenge in global electric vehicle charging station market is lack of fast charging stations, which is hindering the growth of electric vehicle charging stations as people has to wait averagely for about half hour for charging of vehicles. In U.S. fast charging of electric vehicle is quite difficult in many cities and people have to drive through strange neighborhoods to reach charging stations located in outskirts of the city and majorly there is lack of enough places to recharge an EV at faster speed.
Geographically, Asia Pacific region accounted for the highest revenue share of more than 40% in global electric vehicle charging station market. Asia Pacific region is closely followed by North America with USD 0.580 billion market share in 2016. China has emerged as the fastest growing and most opportunistic region for the growth of EV charging station market as the number of electric vehicles in China is growing rapidly.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key questions answered in this global electric vehicle station market report
- What is the total market size by 2024 and what would be the expected growth rate of sales?
- What are the total sales of EV charging equipment in 2015-16 (Units) and what would be the expected demand over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry level players?
- What are the recent developments and business strategy of the key players?
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