According to a new market
research report titled, ‘Electric Vehicle Charging
Stations Market by Charging Type (Level 1,
Level 2, DC Fast Charging), Connection Type, Component, Mounting Type (Wall,
Pedestal, Ceiling), Vehicle Type, End User, and Geography - Global Forecasts to
2030,’ the global electric vehicle
charging stations market is projected to reach $159.7 billion by 2030, at a
CAGR of 28.9% from 2023 to 2030.
Electric vehicle charging stations are defined as a site where one or more
EVSEs are installed. These sites can be residential, non-residential, or
commercial. Electric vehicle charging stations provide electric power to the
vehicle and use that to recharge the vehicle's batteries. An electric vehicle
charging station, commonly called a charging dock, charging pile or EVSE,
includes the electrical conductors, related equipment, software, and
communications protocols that deliver energy efficiently and safely to the
vehicle.
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The growth of the electric
vehicle charging stations market is driven by government initiatives to promote
EV adoption and the development of associated infrastructure, the rising demand
for EV fast-charging infrastructure, the growing implementation of vehicle-to-grid
charging stations, and the increasing EV deployment by shared mobility
operators. However, the high installation costs of EV charging stations
restrain the growth of this market. The increasing adoption of electric
mobility in emerging economies and the growing deployment of charging stations
by retail MNCs are expected to generate growth opportunities for the players
operating in this market. However, high electricity tariffs in developing
countries are a major challenge for market growth. Additionally, electric
vehicle charging stations powered by renewable energy are a prominent trend in
this market.
The global electric vehicle
charging stations market is segmented by component (hardware [electric vehicle
supply equipment {EVSE}, electrical distribution systems, cable management
systems], software [charging station management systems {CSMS}, interoperability
solutions, open charge point protocol {OCPP}, smartphone applications]),
services (maintenance services, system integration, and installation services);
charging type (Level 1, Level 2, DC fast charging); connection type
(pantograph, connectors, wireless charging [static wireless EV charging,
dynamic wireless EV charging]); mounting type (wall mount, pedestal mount,
ceiling mount); vehicle type (passenger cars, heavy commercial vehicles, light
commercial vehicles, two-wheelers & scooters); end user (commercial EV
charging stations [commercial public EV charging stations {on-road charging
stations, parking space stations, destination charging stations}, commercial
private EV charging stations {fleet charging, captive charging}], residential
EV charging stations); and geography. The study also evaluates industry
competitors and analyzes the market at regional and country levels.
Based on component, the global
electric vehicle charging stations market is broadly segmented into hardware,
software, and services. In 2023, the hardware segment is expected to account
for the largest share of the global electric vehicle charging stations market.
The large market share of this segment is attributed to the rising adoption of
EVs, the increasing deployment of EV charging stations, and the increasing
government initiatives aimed at electrifying public bus fleets and deploying
associated charging infrastructure. However, the software segment is projected
to register the highest CAGR during the forecast period. The growth of this
segment is driven by various factors, such as the increasing need for
transparency in electricity consumption and demand charges, the growing need
for managing EV fleets in real time, charging reports & insights,
maintenance & support, and the increasing deployment of smart remote
charging stations.
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Based on charging type, the
global electric vehicle charging stations market is broadly segmented into
Level 1, Level 2, and DC fast charging. In 2023, the Level 2 segment is
expected to account for the largest share of the global electric vehicle charging
stations market. The large market share of this segment is attributed to the
increased adoption of Level 2 chargers for residential and commercial
applications. These chargers offer faster charging speeds than Level 1
chargers. Furthermore, government incentives and regulations aimed at promoting
the installation of Level 2 chargers contribute to the significant market share
of this segment. However, the DC fast charging segment is projected to register
the highest CAGR during the forecast period. The growth of this segment is
driven by factors such as government rebates on the purchase of DC fast
charging stations, increasing investments from automakers in the development of
DC fast charging station infrastructure to support their long-range battery-electric
vehicles, the need for significantly faster charging, and the increasing
installation of DC fast chargers in public locations including highways,
shopping centers, restaurants, and other high-traffic areas.
In terms of volume, in 2023, the
Level 2 segment is expected to account for the largest share of the electric
vehicle charging stations market. The large market share of this segment is
attributed due to various factors such as government rebates on the purchase of
DC fast charging stations, increasing investments from automakers towards the
development of DC fast charging station infrastructure to support their
long-range battery-electric vehicle, the need to provide significantly faster
charging compared to Level 2 chargers, and increasing installation of DC fast
chargers in public locations along highways, shopping centers, restaurants, and
other high-traffic areas. However, the DC fast charging segment is projected to
register the highest CAGR during the forecast period.
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Buy – Electric Vehicle Charging Stations Market- Global Opportunity Analysis
And Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/41548876
Based on connection type, the
global electric vehicle charging stations market is broadly segmented into
pantograph, connectors, and wireless charging. In 2023, the connectors segment
is expected to account for the largest share of the global electric vehicle
charging stations market. The growth of this segment is attributed to the
increasing development and adoption of standardized connector types to ensure
compatibility between charging stations and electric vehicles, the increasing
need for faster charging connectors compatible with high-power DC fast
charging, the growing need for reliable connectors to minimize the risk of
electrical faults, overheating, and other potential hazards, and dynamic
international standards and regulations for promoting a harmonized charging
infrastructure worldwide. Moreover, the connectors segment is projected to
register the highest CAGR during the forecast period.
Based on mounting type, the
global electric vehicle charging stations market is broadly segmented into wall
mount, pedestal mount, and ceiling mount. In 2023, the wall mount segment is
expected to account for the largest share of the global electric vehicle
charging stations market. The large market share of this segment is attributed
to the increasing use of either Level 1 or Level 2 electric vehicle supply
equipment (EVSE) and the increasing need for high-speed charging in a compact,
affordable, and scalable package. Moreover, the wall mount segment is projected
to register the highest CAGR during the forecast period.
Based on vehicle type, the
global electric vehicle charging stations market is broadly segmented into
passenger cars, heavy commercial vehicles, light commercial vehicles, and
two-wheelers & scooters. In 2023, the passenger cars segment is expected to
account for the largest share of the global electric vehicle charging stations
market. The large market share of this segment is attributed to the increasing
adoption of electric vehicles, environmental concerns and emission regulations,
advancements in EV battery technology, and expansion of charging infrastructure
networks. However, the two-wheelers & scooters segment is projected to
register the highest CAGR during the forecast period. The growth of this
segment is driven by various factors, such as the increasing popularity of
electric scooters and 2-wheelers, the rising need for cost-effective and nimble
modes of transportation.
To
gain more insights into the market with a detailed table of content and
figures, click here: https://www.meticulousresearch.com/product/electric-vehicle-charging-stations-market-5078
Based on end user, the global
electric vehicle charging stations market is broadly segmented into commercial
EV charging stations and residential EV charging stations. In 2023, the
commercial EV charging stations segment is expected to account for the larger
share of the global electric vehicle charging stations market. The large market
share of this segment is attributed to the increasing adoption of electric
vehicles in commercial fleets for cost savings and reduced emissions,
government regulations and incentives for electric vehicle adoption in
commercial fleets, infrastructure development for shared mobility services, and
installations of commercial EV charging stations for cost savings and reduced
emissions. Moreover, the commercial EV charging stations segment is slated to
register the highest CAGR during the forecast period.
Based on geography, the electric
vehicle charging stations market is segmented into North America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa. In 2023,
Asia-Pacific is expected to account for the largest share of the global electric
vehicle charging stations market in terms of volume and value. Asia-Pacific’s
major market share is attributed to the growing demand for electric vehicles in
countries such as China and Japan and the rising government initiatives to
reduce greenhouse gas emissions, which, in turn, is poised to increase electric
vehicle adoption. Moreover, the market in Asia-Pacific is projected to register
the highest CAGR during the forecast period.
The key players operating in the
global electric vehicle charging stations market are ChargePoint Holdings, Inc.
(U.S.), Tesla, Inc. (U.S.), BP p.l.c. (U.K.), EVgo Inc. (U.S.), Shell Plc
(U.K.), Électricité De France (France), EVBox Group (Netherlands), Electrify
America LLC (U.S.), AddÉnergie Technologies, Inc. (Canada), Connected Kerb
Limited (U.K.), Hangzhou AoNeng Power Supply Equipment Co. LTD. (China),
Webasto Group (Germany), EV Charging Installers of America LLC (U.S.), Wanbang
Xingxing Charging Technology Co., Ltd. (China), ABB Ltd. (Switzerland), Siemens
AG (Germany), and Blink Charging Co. (U.S.).
TOP 10 COMPANIES IN ELECTRIC
VEHICLE CHARGING STATIONS MARKET @ https://meticulousblog.org/top-10-companies-in-electric-vehicle-charging-stations-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=23-10-2023
Related Research Report:
North America Electric Vehicle
Charging Stations Market by Component, Charging Type, Connection Type
(Connectors, Wireless Charging), Mounting Type, Vehicle Type (Passenger Cars,
Two-wheelers & Scooters), End User and Geography - Forecast to 2030 @ https://meticulousblog.org/top-10-companies-in-north-america-electric-vehicle-charging-stations-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=23-10-2023
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