The next 10 years to witness discovery of methodical growth of the Electric Vehicle Charging Stations Market

New York, United States, 2022-Apr-19 — /EPR Network/ —

Electric Vehicle Charging Stations Market: Introduction

With the bolstering sales of electric vehicles worldwide, automakers are keen towards establishing robust infrastructure so as to fulfil the operational requirements of these electric vehicles. Increasing adoption of electric vehicles demands proper infrastructure for charging. Moreover, to meet the consumer demand, significant advancements, both in home and outdoor charging are expected over the forecast period. Rapid increase in number of publically accessible charging stations has been witnessed in developed regions such as North America and Western Europe that suffice charging demands through high voltage and high currents. Furthermore, technology leaders are focusing on introducing electric vehicle charging stations with better charging capabilities and reduced charging time. One such example is Tesla Supercharging Station – an electric vehicle charging station that utilizes DC current and supplies at most 120 kW per car. The Tesla supercharger can charge a vehicle’s battery up to 50% within 20 minutes.

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Electric Vehicle Charging Stations Market: Dynamics

The global electric vehicle charging stations market is expected to be significantly driven by incentives and subsidies from governments that fuel sales of electric vehicles. Strategic initiatives by major players to provide free charging facility to electric vehicle owners will gain significant attraction in the market over the forecast period. Preference of home charging stations by electric vehicle owners, especially in North America and Europe is expected to significantly boost the sales of AC electric vehicle charging stations over the forecast period.

Presently, the market for electric vehicle charging stations is highly consolidated, and thus there exists huge influence of major players and hence electric vehicle charging stations lack standardization, which in turn is expected to restrain growth of the market. Moreover, higher cost of DC charging stations over the conventional electric vehicle charging stations can further hamper market growth.

Electric Vehicle Charging Stations Market: Segmentation

On the basis of installation type	Home Charging Stations Public Charging Stations
On the basis of supply type	AC Charging Stations Level I Level II DC (Fast) Charging Stations Level III Others (Inductive)
On the basis of connector type	CHAdeMO CCS GB/T Tesla Supercharger Others

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Electric Vehicle Charging Stations Market: Regional Outlook

Asia Pacific is expected to dominate the volume demand for electric vehicle charging stations over the forecast period owing to the expanding market of electric vehicles due to various government incentives and subsidies. North America and Europe are expected to be the fastest growing regions in terms of CAGR over the forecast period.

U.S. is expected to witness significant increase in installation of DC charging stations over the next few years. Increase in number of home electric vehicle charging stations is also expected in the U.S. and Germany. Growth of the market in Middle East and Africa is expected to remain moderate over the forecast period.

Electric Vehicle Charging Stations Market: Key Players

Examples of some of the market participants identified in the global electric vehicle charging stations market are;

• Tesla Motors Inc.
• Delphi Automotive Plc.
• Schneider Electric
• Leviton Manufacturing Co., Inc.
• AeroVironment, Inc.
• ChargePoint Inc.
• General Electric
• SemaConnect Inc.
• Bosch Automotive Service Solutions Inc
• Clipper Creek
• EV Box
• ABB Ltd.
• Eaton Corp. Plc.

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