The global market for electric vehicle charging infrastructure should grow from $4.7 billion in 2018 to $13.0 billion by 2023 at a compound annual growth rate (CAGR) of 22.5% for the period of 2018-2023.
Electric vehicles (EVs) include passenger vehicles, scooters and buses. State-of-the-art batteries have enabled a growing niche market for trucks, buses, small electric scooters and Segway-type vehicles. An entirely new market for low-velocity or neighborhood EVs includes everything from relatively low-tech, street-ready golf carts to advanced concept vehicles. These electric vehicles require a charging infrastructure which is expected to see a high growth in the coming future. Market data contained in this report quantifies opportunities for manufacturers of electric charging infrastructure. In addition to identification of various types of vehicles, types of chargers and standards, it also covers the many issues concerning the merits of and prospects for the electric vehicle charging infrastructure business. This includes corporate strategies, emerging technologies and the means for providing low cost, high technology products. Also covered in detail are the economic and technological issues regarded by many as critical to the industry’s current state of change. Competitive positions of the major players in the market and the strategic options they face are also discussed in the report.
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– 49 data tables and 16 additional tables
– Detailed overview of the global market scenario for electric vehicle (EV) charging infrastructure
– Quantitative and qualitative study of EV charging infrastructure by type of vehicle, type of charger, type of installation, type of connector, and other emerging trends
– Analyses of the global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Regional dynamics of the market covering North America, South America, Europe, APAC and rest of the world
– A summary of the power sources that make these vehicles possible, including lead-acid, nickel-metal hydride, lithium-ion batteries, proton-exchange membrane fuel cells etc.
– Market share analysis of leading players operating within the region
– Brief outline of patent details, their filings and approvals by different categories
– Comprehensive company profiles of all major stakeholders including ABB Group, Leviton, Mitsubishi Electric Corp., Robert Bosch GmbH and Siemens AG
Electric vehicle charging infrastructure plays a significant role in boosting the demand for electric vehicles. The trends for plug-in electric vehicles are on a significant growth trajectory, including both Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). Both BEVs and PHEVs can be charged externally and have a long driving range; this had helped in reducing the range anxiety in the minds of potential customers who at some point hesitated to go with electric vehicles. Adding a robust charging infrastructure will add more confidence within buyers, as there would be no dearth of charging points to suffice the demands of users within the growing fleet of plug-in electric vehicles.
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Governments all over the world plan to invest in developing the charging infrastructure to support the targets they have set of inducting clean vehicles into the total vehicular fleet.
From a regulatory standpoint, automakers are compelled to produce a certain percentage of green vehicles in order to balance the carbon footprint from sales of conventional vehicles. This percentage varies from country to country, depending on the governing commitment for the adoption of green alternatives. Moreover, reduced prices for key components within hybrid vehicles are diminishing the price gap between conventional vehicles and hybrid vehicles. Although the price gap becomes more significant with the increasing battery driving range, advancements in battery technology and the continuous decline in the prices of batteries will reduce this price gap and make the option of hybrid and
electric vehicles more attractive for a typical buyer. The Asia-Pacific region, including China and Japan; Europe; and North America, including the U.S.; are the largest markets for electric vehicle charging infrastructure. Asia-Pacific and Europe are the fastest growing regions for electric vehicles and will be driving the electric vehicle charging infrastructure market during the period of forecast.
The electric vehicle charging infrastructure market is expected grow at a CAGR of REDACTED through 2023, from REDACTED in 2017. This market is stable and growing as a result of the continuous shift from diesel vehicles to electric vehicles, increasing battery pack capacities, and the rising demand for hybrid and electric vehicles fueling the growth of this market.
This report covers over 20 key suppliers of electric vehicle charging infrastructure including the OEMs with in-house manufacturing capabilities. Asian-based suppliers are expanding because of increased demand for their low-cost products, both regionally and from other countries. Most of these companies have formed joint ventures with more established global suppliers like ChargePoint Inc.; Blink Charging Co.; and Electrify America LLC; among others.