Global Electric Vehicle Charging Station Market Overview:
According to the latest report by IMARC Group, titled “Electric Vehicle Charging Station Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global electric vehicle charging station market reached a value of US$ 6.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 51.25 Billion by 2027, exhibiting at a CAGR of 39.60% during 2022-2027 .
An electric vehicle charging station refers to a device that is generally utilized for supplying power to electric vehicles (EVs). It mainly comprises a facility meter, energy controller, network operating center, and lithium-ion batteries.
Along with this, it is connected to a power grid or electric current outlet and software application that facilitates charging of varying levels that is widely installed across government facilities, retail shopping centers, and parking areas. The easy availability of EV charging stations across public facilities is providing a boost to the market growth across the globe.
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Global Electric Vehicle Charging Station Market Trends:
- The global market is primarily driven by the increasing preference for electric vehicles (EVs) among the masses. With the growing environmental concerns among individuals, there has been a considerable rise in the preference for EVs. Along with this, the advent of digitalized electrical distribution systems across multiple countries is providing a boost to market growth.
- Moreover, continual technological advancements in EV charging technology are creating a positive outlook for the market.
- Furthermore, the rising government initiatives for developing standards and offering funds for building EV charging stations are positively influencing the market growth.
- Additionally, increasing investments by leading players in the development of charging stations across geographically extended locations are propelling the market growth.
- Other factors, including significant growth in the automotive sector, the rising manufacturing of electric vehicles, continuous product innovations, and extensive research and development (R&D) activities conducted by key players, are creating a positive outlook for the market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Electric Vehicle Charging Station Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- ABB Ltd.
- Blink Charging Co.
- BP plc
- ChargePoint Inc
- Daimler AG,
- Eaton Corporation PLC
- EFACEC Power Solutions SGPS S.A.
- Engie SA
- EVgo Services LLC (LS Power Development LLC)
- Renault Group
- Schneider Electric SE
- Siemens AG
- Tata Power Company Limited
- Tesla Inc.
Breakup by Charging Station Type:
- AC Charging
- DC Charging
- Inductive Charging
Breakup by Vehicle Type:
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
Breakup by Installation Type:
- Portable Charger
- Fixed Charger
Breakup by Charging Level:
- Level 1, Level 2, Level 3
Breakup by Connector Type:
- Combines Charging Station (CCS)
- Normal Charging
- Tesla Supercharger
- Type-2 (IEC 621196)
Breakup by Application:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- The Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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