The Global Electric Vehicle Charging Station Infrastructure Market size is expected reach to around US$ 55,347.8 Mn by 2026, growing at a CAGR of around 44.5% over the forecast period 2019 to 2026.
EV or electric vehicle charging station where the charging station is equipped with the electric charging point to connect an electric vehicle to an electricity source to recharge vehicles including electric cars, plug-in hybrids, and neighborhood electric vehicles. Neighborhood electric vehicle is a term used for electric battery vehicle that are usually built to have a top speed of around 40 kilometer per hour. Plug-in hybrid electric vehicles (PHEVs) have both internal combustion engine and electric motor to provide choice for the operation to the consumer. Moreover, charging stations are also termed as electric vehicle supply equipment (EVSE) these stations provide special connectors that meet with the variety of electric charging standards. In addition, there are residential and commercial installations are available in the market where residential charging station infrastructure referred to the private charging infrastructure installed at residential place or at office. Commercial charging stations are installed at retail shopping centers, restaurants and parking places and are operated by various private players.
The increasing demand of electric vehicle due to rising environmental concern has resulted in increased number of EV charging stations across the globe. The increasing fuel charges and heavy investment by automakers in EVS is additionally supporting the growth. Furthermore, increasing government funding and subsidies are expected to drive electric vehicle and electric vehicle charging stations market over the estimated period. In addition, solar panel powered EV charging stations and vehicle-to-grid (V2G) system at EV charging stations are expected to create potential opportunity over the forecast period.
On the other hand, lack of standardization with electric vehicle charging is likely to limit the market growth at some extent during the forecast period. Along with this, high cost of electric vehicle and small distance coverage with one time charge is further projected to restrict the market growth.
DC charging station segment dominated the EV charging station infrastructure market
DC charging stations segment is projected to held major share due to their ability to charge faster as compare to the AC charging stations. The increasing popularity of public charging stations worldwide is further bolstering the demand of DC charging station in the market. Furthermore, automakers are planning to invest in DC charging stations are additionally contributing to the market growth.
The market research study on “EV Charging Station Infrastructure Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global EV charging station infrastructure market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global EV charging station infrastructure market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global EV charging station infrastructure market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The EV charging station infrastructure market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific is projected to witness fastest growth over the estimated period from 2019 to 2026
Asia Pacific region is expected to held major share of electric vehicle charging station infrastructure market during the forecast period. The market is particularly expected to drive by the major countries of the region including China, Japan and India owing to the rising awareness about the adverse effect of diesel/petrol vehicles. The increasing initiatives by government to control the greenhouse gas emissions in countries like India and South Korea is further expected to contribute to the market value.
The players profiled in the report include ABB, ChargePoint Inc., Schneider Electric SE, Siemens AG, Tesla Motors Inc., AeroVironment Inc., Leviton Manufacturing Co. Inc., SemaConnect Inc., The Newmotion BV, Efacec, EVgo, and Alfen. The major players were involved in mergers and strategic partnership for exploring the market share and also for expanding the global presence in EV Charging Stations market.
Market By Connector Protocol
Market By Vehicle Type
Market By Charging Station
AC Charging Station
DC Charging Station
Inductive Charging Station
Market By End User
Market By Geography
Middle East & Africa
Level 1 Charging used for 2 to 5 miles of range per 1 hour of charging and Level 2 Charging 10 to 20 miles of range per 1 hour of charging.
AC charging station, DC charging station and Inductive charging station are the types of EV charging station infrastructure market.
According to Acumen Research and Consulting, the Electric Vehicle Charging Station Infrastructure market value is anticipated to be worth around US$ 255 Bn in 2026.
The Electric Vehicle Charging Station Infrastructure market is anticipated to grow over 7% CAGR during the forecast period 2019 to 2026.
ABB, ChargePoint Inc., Schneider Electric SE, Siemens AG, Tesla Motors Inc., AeroVironment Inc., Leviton Manufacturing Co. Inc., SemaConnect Inc., The Newmotion BV, Efacec, EVgo, and Alfen are the top players operating in the Electric Vehicle Charging Station Infrastructure market.
Asia Pacific held maximum share in 2018 for Electric Vehicle Charging Station Infrastructure market.
DC charging stations segment is projected to held major share for Electric Vehicle Charging Station Infrastructure market.