Electric Vehicle Charging Station Market by Level of Charging (Level 1, Level 2 & Level 3), By Charging Infrastructure (Normal Charge, Type-2, CCS, CHAdeMO and Tesla Supercharger), DC fast Charging (Fast & Ultra-fast) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Electric Vehicle Charging Station market gathered revenue around USD 2,110 thousand units in 2020 and market is set to grow USD 30,730 thousand units by the end of 2027 and is estimated to expand at a modest CAGR of 45.9% during the prediction period 2021 to 2027.
The market Factors such as growing demand for energy-efficient commuting, governments supporting electric vehicles, and their charging infrastructure through preferencial policies, subsidies, and tax rebates have led to a growing demand for this segment along with the fact that within the next 2 decades, many governments around the world have announced plans to phase out fossil fuel vehicles from the market.
Increasing investments by governments across the globe to develop charging infrastructure and incentives offered to buyers will create opportunities for OEMs to expand their revenue stream and geographical presence. The market in Asia Pacific is projected to experience the fastest growth owing to the high demand for electric vehicles and aggressive reforms from governments of countries like China, Japan, South Korea and their efforts to promote growth of EV Charging infrastructure to make EV charging more accessible. Meanwhile the North American and European markets are growing due to the government initiatives and growing demand for fast charging segment. However, factors like high costs involved in initial investments for fast charging, need for better batteries, charging time of EV vehicles being much higher than fossil fuel vehicles (Specially in case of Level 1 and Level 2 Charging), charging compatablity not being uniform, grid capacity and current trend of pricing of EV being higher than their fossil fuel counterparts could hamper the growth of global EV and electric vehicle charging stations market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Electric Vehicle Charging Station market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Electric Vehicle Charging Station market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 30,730 thousand units by 2027|
|Growth Rate||CAGR of 45.9% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Material type And Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||ABB Ltd., AeroVironment Inc., BYD Auto, Chargemaster PLC, ChargePoint, Inc., Eaton Corporation plc, Leviton Manufacturing Co., Inc., Schneider Electric SE, SemaConnect, Inc., Siemens AG, Tesla Motors, Inc.|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Electric Vehicle Charging Station market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Market Opportunity analysis:
The electric vehicle charging stations market is expected to grow with time and growing support from government bodies of different countries. Many countries have recognized the need to go electric to reduce the increasing pollution from automobiles, with the US and China already gearing up to electric vehicles. These countries have taken initiatives to improve the charging network across their states for ease of switching to EV’s and promoted this segment using incentives, tax rebates, preferential policies etc. China, US and some European countries have subsidized the setting up cost of EV charging stations at residential complexes, semi public areas, private homes etc.
The Asia Pacific market is projected to hold the largest share by 2027
Asia Pacific is expected to be the largest market. Large scale growth of EV charging network in China, growing demand for affordable electric vehicles for daily use, and governments promoting electric vehicles are expected to drive the Asia Pacific market during the forecast period. China’s rapidly growing economy is driving the expansion of advanced technologies to improve electrification in the country. China has spent approximately USD 3.0 billion till 2020 to improve the charging facility infrastructure in the country. The Japnese, Korean Governments have also come up with measures to drastically improve the number of electric vehicle charging points across their countries in the coming years. The Indian government has also announced plans to equip 69,000 EV charging stations across india as part of its first phase of EV infrastructure growth, which may have a demand of 4 lakh charging stations by 2027.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Electric Vehicle Charging Station Market include: ABB Ltd., AeroVironment Inc., BYD Auto, Chargemaster PLC, ChargePoint, Inc., Eaton Corporation plc, Leviton Manufacturing Co., Inc., Schneider Electric SE, SemaConnect, Inc., Siemens AG, Tesla Motors, Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Based on the Charging Level:
- Level 1
- Level 2
- Level 3
Based on the Charging Point Type:
- Normal Charging
- Super Charging
- Inductive Charging
Based on the Installation type:
- Portable Charger
- Fixed Charger
Based on the Charging Infrastructure Type:
- Normal Charge
- Tesla Super Charger
- Type 2 (IEC 621196)
Based on the application type:
Based on the DC fast charging:
- Ultra Fast
Based on the electric bus charging type:
- Off-board Top-down Pantograph
- On-board Bottom-up Pantograph
- Charging Via connector
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Electric Vehicle Charging Station market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Electric Vehicle Charging Station market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Electric Vehicle Charging Station markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Electric Vehicle Charging Station market Study:
- Growth of Electric Vehicle Charging Station in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Electric Vehicle Charging Station and How to Navigate
- Key Product Innovations and Regulatory Climate
- Electric Vehicle Charging Station Consumption Analysis
- Electric Vehicle Charging Station Production Analysis
- Electric Vehicle Charging Station and Management