Industry Trend Analysis
The Electric Vehicle (EV) Charging Stations market was worth USD 1.57 billion in 2014 and is expected to reach approximately USD 36.29 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 41.72% during the forecast period. An electric vehicle charging station is a segment or a foundation which supplies electric vitality to the electric vehicles for energizing of batteries at home or at open spaces. It gives vitality to module electric vehicles which incorporates electric autos and plug-in hybrids. An electric charging station is otherwise called electric vehicle supply equipment (EVSE). Charging hardware can be separated based on charging time and the utilization.
Drivers & Restrains
Over the most recent couple of years, the interest for electric vehicle charging stations has quickened because of the expanded offers of electric vehicles (EV). Other than the developing awareness about the advantages of these vehicles, favorable government policies is also stimulating the growth of the market. For example, governments have acquainted different endowments with advance the offers of electric vehicles. These may incorporate street assess exclusion. Even manufacturers are taking an attempt of bringing down their generation cost to offer propelled models of electric vehicles under a sensible sticker price. While these systems are pointed towards advancing EV deals, the electric vehicle charging station market will also pick up from them.
Regional Outlook and Trend Analysis
Asia Pacific region is expected to witness highest development over the forecast period. The essential drivers of the electric vehicle charging station market in Asia Pacific district are enhancing foundation alongside the great government directions and developing ecological awareness. North America and Europe districts are foreseen to encounter promising development in the electric vehicle charging station market amid the figure time frame.
The leading players in the market are AeroVironment, Inc., Bosch Automotive Service Solutions Inc., ChargePoint, Inc., ClipperCreek, Inc., Delta Group, Eaton Plc, Enel Group, E-Station Pty Ltd., General Electric Co., Hitachi, Ltd. and others.
The EV Charging Stations Market is segmented as follows-
By Vehicle Type:
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
By Charging Station:
AC Charging Station
DC Charging Station
By Installation Type:
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?