The
global electric vehicle charging infrastructure market is expected to reach USD
45.59 billion by 2025, according to a new report by Grand View Research, Inc.
Governments, across the globe, are striving to encourage the adoption of
electric vehicles. Incentive programs, such as tax rebates, grants, and
subsidies, have been launched to promote the same.
The
increasing adoption of electric vehicles is expected to be more in the
passenger cars segment, in comparison with the commercial vehicle segment. The increase
in adoption, can be attributed to the growing research & development
activities and initiatives undertaken to improve the existing EV models, and
make them competitive with the available fuel-powered car models. Furthermore,
companies are working towards upgrading Electric Vehicle Supply Equipment
(EVSE) to make them more convenient.
In
the year 2016, CHAdeMO possessed the largest market share in the connector
segment. However, it is predicted to be surpassed by the Combined Charging
System (CCS) connectors segment, which is a combination of SAE J1772 (IEC Type
1) and IEC Type 2 connectors.
The
fast chargers segment is expected to exhibit the fastest growth, with an
estimated CAGR of around 47.9% from 2017 to 2025. Overnight charging is
insufficient for covering long distances and sparing hours to charge the
vehicle, during a voyage, is not presumed as a good idea. These situations
encourage anxiety and eventually discourage the use of electric vehicles.
Therefore, fast chargers are expected to have higher adoption rate than slow
chargers.
In depth research report on Electric Vehicle (EV)
Charging Infrastructure Market
Further key findings from the report suggest:
·
The electric vehicle charging
infrastructure market is expected to grow at a CAGR of 46.8% from 2017 to 2025
·
Leading automakers are observed
investing heavily in promoting EV charging infrastructure. For instance, BMW,
Daimler, Ford, and Volkswagen, together announced an investment plan for the
development of 400 charging sites across Europe
·
The North American region is
projected to dominate the EV charging infrastructure, as it is expected to
witness significant growth in electric vehicle sales
·
The major players of the
electric vehicle charging infrastructure market are ABB Group, AeroVironment,
Inc., Elektromotive Limited, ChargePoint, Inc., Schneider Electric SE,
Chargemaster Plc, Eaton Corporation, Siemens AG, SemaConnect, Inc.,
ClipperCreek, Inc., Tesla Motors, Inc., Delphi Automotive LLP, General
Electric, and Leviton Manufacturing Co., Inc., among others
Grand
View Research has segmented the global electric vehicle charging infrastructure
market based on, charger type, connector, application, and regions:
Charger Type Outlook (Revenue, USD Million;2014 -
2025)
·
Slow Charger
·
Fast Charger
Connector Outlook (Revenue, USD Million;2014 - 2025)
·
CHAdeMO
·
CCS
·
Others
Application Outlook (Revenue, USD Million; 2014 -
2025)
·
Commercial
·
Residential
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
·
U.S.
·
Canada
·
Europe
·
Netherlands
·
UK
·
France
·
Norway
·
Germany
·
Asia Pacific
·
China
·
Japan
·
South Korea
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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