Electric Vehicle Charging Infrastructure Market
Report Code : BII 960 Jan-2022 Automotive & Transportation Format : PDF Pages : 208
Electric Vehicle Charging Infrastructure Market Overview
Rising partnerships among automobile manufacturers for charging facilities through the provision of a subscription model is expected to fuel market expansion plover the upcoming years. Electric vehicle charging software and hardware advancements are expected to transform how EV owners consume and benefit from electric vehicle charging applications. Even before the car driver plugs the car into a charging station, technologies like Smartcard API and charging networks precisely estimate an electric vehicle's charge time.
Additionally, electric automobiles are less expensive to maintain than traditional gasoline and diesel vehicles. Electric vehicles lower harmful gas emissions by reducing carbon footprints. With the growing popularity of electric vehicles, the number of commercial charging stations is expected to grow. Efforts to improve commercial charging infrastructure would be critical in increasing the uptake of electric vehicles. Besides, lack of EV charging standardization, an increase in demand for luxury and feature-rich automobiles, and wireless charging for electric vehicles are the factors responsible for limiting the market growth over the upcoming years ted to play an important role in both public and private electric vehicle charging stations.
Market Size
According to Business Intelligence Insights “Global Electric Vehicle Charging Infrastructure Market" is expected to grow from USD 18.80 billion in 2021 to USD 89.90 billion by 2028, at a CAGR of 29.80% during the forecast period 2022-2028
Covid -19 Impact Analysis
The unanticipated outbreak of Covid 19 has had a negative influence on market growth. To control the outbreak, several countries enacted stringent lockdowns, causing manufacturing businesses to shut down and supply networks and production schedules to be disrupted. The worldwide impact on technology supply networks has been significant. The automotive industry has been seriously affected by the economic recession, with light vehicle sales decreasing significantly. In 2020, the revenue for light automobiles is set to decline by over 20%. Furthermore, changes in consumer purchasing behavior because of the pandemic's uncertainties are projected to have a considerable impact on the industry's near-term growth. Meanwhile, cash shortages and cash crunch have already had an impact on fleet operators' sales, which is expected to grow in the coming months.
Market Dynamics
• Drivers
o Electric automobiles are less expensive to maintain
o Rising health standards coupled with better healthcare infrastructure
• Restraints
o Wireless charging for electric vehicles
Segmentation Insights
By Commercial:
Commercial category dominated the market with highest share of 84 % in the market
In 2021, The commercial segment accounted for a revenue share of 84% in the market during the forecast period. This is majorly due to initiatives and allocation of funding by the governments and automobile manufacturers for expanding public EVCI infrastructure. Long-distance travel will require the creation of supporting infrastructure in public areas, as overnight charging or charging at home would not enough. Several public transportation agencies are cooperating with automakers to create charging stations for electric buses, which is fueling the industry's growth.
By Fast Charger:
Fast Charger category accounted for a revenue share of 53% in market
The mode of application in which Electric Vehicle Charging Infrastructure can be taken as fast charger and slow charger . In the worldwide Electric Vehicle Charging Infrastructure industry, fast charger is the most popular charger type. Growing government initiatives for installing fast-charging stations, tax credits on the purchase of DC fast-charging stations and increasing automaker investments in the development of DC fast-charging station infrastructure to support their long-range battery-electric vehicles are all contributing to this segment's rapid growth.
By Charger Type
• Slow Charger
• Fast Charger
By Connector Type
• CHAdeMO
• Combined Charging System (CCS)
• Others
By Application
• Commercial
• Residential
By Region
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa (MEA)
Key Players
- ABB
- BP Chargemaster
- ChargePoint, Inc.
- Clipper Creek, Inc.
- Eaton Corp.
- General Electric Company
- Leviton Manufacturing Co., Inc.
- Sem Connect, Inc.
- Schneider Electric
- Siemens AG
- Tesla, Inc.
- Wabasso SE
- Others
Regional Insights
World map title will be here...
Asia Pacific dominated the market with the highest revenue share of 59% of the market share
In both developed and emerging countries, the Asia Pacific Electric Vehicle Charging Infrastructure market grew rapidly. To keep up with the rapidly increasing EV car parc in these countries, charging infrastructure is subsequently expected to witness a tremendous demand. Governments in Asia Pacific countries are encouraging the adoption of electric vehicles due to mounting pressure to solve environmental issues.
Table
Report Attributes |
Details |
|---|---|
| Market Size Value in 2021 | USD 18.80 billion |
| Market Size Value in 2028 | USD 89.90 billion |
| Growth Rate | +29.80% |
| Base Year | 2021 |
| Forecast Period | 2022-2028 |
| Historical Data | 2018-2020 |
| Forecast Units | USD Billion |
| Countries Covered | North America: U.S., Canada, Europe: Germany, U.K., France, Italy, Spain, Rest of Europe, Asia Pacific: China, India, Japan, Rest of Asia Pacific, Latin America: Brazil, Mexico, Rest of Latin America, Middle East and Africa: UAE, South Africa, Rest of Middle East and Africa (MEA) |
| Segments Covered | By Charger Type, By Connector Type, By Application, By Region |
| Competitive landscape | Leading companies, Competitive strategies and Consumer engagement scope |
| Customization is available | If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions |