Electric vehicle chargers are used to provide charging to electric vehicles with a battery and the electrical source that helps to charge the battery. Currently, there are three different modes of charging available in the market, namely, level 1, level 2, and DC fast charging. Level 1 and Level 2 charging are the types of AC mode of charging, which charge the vehicle at 120 volts and 240 volts, respectively. Such chargers can be installed at home or at public places as per the individual’s requirements. Surge in demand for luxury and high-end electric vehicles is one of the major drivers of EV chargers in the market. Further, stringent government regulations to curb carbon emission are expected to boost the market growth.
The electric vehicle chargers market is driven by factors such as government regulations to limit environment pollution, increase in market penetration of electric vehicles, and surge in government initiatives for development of electric vehicle charging infrastructure. However, limited number of EV charging stations and lack of standardization of EV charging restrict the market growth. Moreover, rise in demand for luxury and feature enabled vehicles, and wireless charging for electric vehicles creates lucrative growth opportunities for the market.
The electric vehicle chargers market is segmented on the basis of vehicle type, charging type, end user, and region. By vehicle type, it is divided into battery electric vehicles (BEV), plug-in electric vehicles (PHEV), and hybrid electric vehicles (HEV). By charging type, it is bifurcated into on-board chargers and off-board chargers. The end user segment includes residential and commercial EV chargers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market include ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, Chargemaster PLC, Schaffner Holdings AG, and POD Point.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the electric vehicle chargers market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Vehicle Type
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
By Charging Type
- On-board Chargers
- Off-board Chargers
By End Users
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
Key Market Players
- ABB Ltd.
- Robert Bosch GmbH
- Siemens AG
- Delphi Automotive
- Chroma ATE
- Aerovironment Inc.
- Silicon Laboratories
- Chargemaster PLC
- Schaffner Holdings AG
- POD Point