Dublin, August 25, 2021 (GLOBE NEWSWIRE) – The Global Electric Vehicle Charging Infrastructure Market Report has been added ResearchAndMarkets.com to offer.
The global electric vehicle charging infrastructure market is projected to grow from $ 7.39 billion in 2020 to $ 36.72 billion in 2026, with a CAGR of 31.22% by 2026 due to increased greenhouse gas emissions and rising Demand for electric vehicles worldwide.
The increasing level of pollution is a major environmental problem and every country is taking the necessary steps to overcome the problem. Vehicles based on gasoline, diesel and other fuels are one of the main reasons for the increase in pollution. Gases such as carbon dioxide, carbon monoxide, etc. escaping from vehicles also break down the ozone layer.
To overcome this problem, countries are making their citizens aware of the use of electric vehicles and offering subsidies on purchases to reduce vehicle pollution. As the demand for electric vehicles increases, it is important to develop or set up new charging stations for electric vehicles to overcome the shortage of charging stations.
The global electric vehicle charging infrastructure market can be segmented by vehicle type, type, charging mode, installation location, plug type, and charging type. Based on the vehicle type, the market can be divided into two-wheelers, four-wheelers and commercial vehicles.
Two-wheelers made up the bulk of the market share, and demand for electric two-wheelers is expected to continue to grow in the future due to the sharp fluctuations in gasoline prices around the world. Due to the enormous number of two-wheelers, there are more charging stations available for electric two-wheelers than for electric four-wheelers.
During the forecast period, two-wheeler charging infrastructure will continue to outpace four-wheeler charging infrastructure, but it is estimated that four-wheeler charging infrastructure will grow significantly in the forecast year due to consumer awareness and several government initiatives in several countries to convert their vehicle fleets to electric.
Depending on the type, AC charging stations are more than DC charging stations due to their low power consumption and are inexpensive to set up. However, due to the longer charging time, the DC charging station is expected to show good growth in the forecast period. Based on the charging mode, plug-in charging stations are greater than 95% and are expected to dominate the wireless charging station. Based on the installed location, the commercial EV charging station dominates the private EV charging station as the installation costs for the private EV charging station are higher than for the commercial charging station.
Due to the increasing fleet of electric vehicles, it is expected that the charging station for private electric vehicles will increase in the forecast period with good growth compared to the previous year, but commercial charging stations for electric vehicles will continue to dominate in the future. Depending on the type of charging, the slow charging stations for electric vehicles are more than just fast charging, but as the electric vehicle fleet grows, so will the demand for fast charging stations.
Regionally, the market for charging infrastructure for electric vehicles is gaining in importance and expanding into various regions, including Asia-Pacific, North America, Europe and CIS, the Middle East and Africa, and South America. Asia-Pacific was the largest region in terms of EV charging infrastructure in 2020 and is expected to continue to dominate in the future.
The main reason for the dominance of the Asia-Pacific region is the growing fleet of electric vehicles and the rapid growth of charging stations for electric vehicles in China. In terms of the reinstallation of EV charging stations, China has a share of over 50% even in 2020. Europe will account for around 30% of EV charging stations in 2020 and it is expected that this will continue to be second only to Asia Pacific in terms of regional sales, followed by North America, South America and the Middle East and africa.
Key players develop advanced technologies and bring new products to market in order to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new product developments. The players in the market are improving R&D capacities while increasing operational efficiency to achieve positive growth.
Major players in the global electric vehicle charging infrastructure market are
- ChargePoint, Inc.
- EVBox BV
- ABB Ltd.
- Tesla, Inc.
- Webasto SE
- Siemens AG
- Schneider Electric SE
- Eaton Corporation plc
- Royal Dutch Shell Plc
- TGOOD Global Ltd.
Years considered for this report:
- Historic period: 2016-2019
- Base year: 2020
- Estimated year: 2021
- Forecast period: 2021-2026
Global Electric Vehicle Charging Infrastructure Market By Vehicle Type:
- All-wheel drive
- Commercial vehicle
Global Electric Vehicle Charging Infrastructure Market By Type:
Global Electric Vehicle Charging Infrastructure Market By Charging Mode:
Global Electric Vehicle Charging Infrastructure Market By Installed Location:
Global Electric Vehicle Charging Infrastructure Market By Connector Type:
- UK 3-pin
- Industrial command
- Type 1
- Type 2
- Tesla’s proprietary supercharger connectors
Global Electric Vehicle Charging Infrastructure Market By Charging Type:
Global Electric Vehicle Charging Infrastructure Market, By Region:
- Asia Pacific
- South Korea
- Europe & CIS
- United Kingdom
- North America
- United States
- South America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
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