Research Nester published a report titled “Electric Vehicle Charging Station Market: Demand Analysis & Opportunity Outlook 2033″ which delivers a detailed overview of the electric vehicle charging station market in terms of market segmentation by type of charging station, and by application.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The electric vehicle charging station market is segmented on the basis of the type of charging station into AC and DC charging stations. Among these segments, the AC charging station segment is projected to hold the largest market share by the end of 2021, primarily on account of the low price of AC charging stations over DC stations, and the availability of a large number of AC charging stations in the nation.
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The electric vehicle charging station market is projected to exhibit a significant CAGR during the forecast period, i.e., 2023-2033, owing to the large sum of subsidies and the favorable initiatives provided by the government for adopting EV charging stations, followed by the increasing focus to develop charging infrastructure for NEVs. In 2019, the total number of publicly accessible EV charging stations (EV charging piles) in the nation touched 2,16,000 units 2019. This was an increase by almost 9 times the total number of available units in 2015.
In the 13th National People’s Congress held in Beijing, China, Premier Li Keqiang stated in his speech about the focus of the Government of China to develop a robust EV charging infrastructure in the nation. Backed by the presence of the largest electric vehicle fleet in the world, the government rolled out several incentives to promote these developments, which is anticipated as one of the major factors for the growth of the market during the forecast period.
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However, the concern for the declining sales of new energy vehicles, despite the focus of the government to promote green transportation, is estimated to hamper the market growth in the coming years.
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This report also provides the existing competitive scenario of some of the key players of the electric vehicle charging station market which includes company profiling of ABB, BP Chargemaster, ChargePoint, Inc., ClipperCreek, Eaton, GENERAL ELECTRIC, Leviton Manufacturing Co., Inc., SemaConnect, Inc., Schneider Electric, Siemens
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the electric vehicle charging station market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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The report ‘Electric Vehicle Charging Stations Market By Charger Type (Slow Charger, Fast Charger); By Connector Protocol (CHAdeMO, Combined Charging System, Others); By Charging Method (AC Charging, DC Charging); By Application (Commercial, Home); By Regions – Segment Forecast, 2020 – 2026‘ provides insights on the current market scenario and the future prospects.The Global electric vehicle charging infrastructure market is anticipated to reach USD 56.9 billion by 2026, according to a new study published by Polaris Market Research.
Owing to the increasing adoption of the electric vehicles globally due to their reduced costs, increasing fuel prices, and increasing government initiatives such as subsidies and tax benefits along with strict environmental norms, the electric vehicle charging infrastructure market is projected to gain traction over the forecast period.
These infrastructures are being commonly developed within the city limits, thus benefiting the customers to charge their cars at high speed with reduced time and cost.
Asia-Pacific is a lucrative market with high development potential attributable to the fast expanding quantities of electric vehicles in countries such as India, Japan and China.
India on the other hand is following the suite and have recently installed their first charging station which was jointly developed by the government and an online cab service provider.
Development of advanced DC chargers which can charge the EVs in less than 30 minutes are further helping the market to grow.
