According to the most recent analysis by Emergent Research, the global market for electric car charging infrastructure has a value of USD 5.64 billion in 2020 and is projected to grow at a rate of 38. percent during the forecast period. As carbon emissions continue to rise and stricter regulations are being implemented, an increase in the adoption of Electric Vehicles (EVs) is anticipated to fuel market revenue growth. Rising levels of carbon emissions and other harmful pollutants produced by transportation fleets are motivating an increase in the usage of plug-in electric vehicles. As a result, there is an increase in demand for electric vehicle charging stations in both public and private spaces. Future market revenue growth is anticipated to be aided by rising demand for green energy.
We anticipate that there will be a significant increase in the number of electric cars (EVs) on our roads during the coming decade and that most of the charging will occur at home. But it will also be essential to assist EV growth to have easy access to charging away from one’s home (or place of employment). These “on-the-go” recharges will also need to be as simple and convenient as filling up an ICE vehicle today.
Public charging stations may prove to be the best option and will help the high adoption rate of electric vehicles, particularly in China and Europe, as these two regions have the fastest-growing markets for electric vehicles.
Further key findings from the report suggest
- Since E-mobility service providers offer optimal monetization, which increases network profitability, freedom of choice, and improved electric fleet management, segment revenue is anticipated to grow at a remarkably strong CAGR during the projection period.
- The rapid expansion of this market is primarily attributable to increasing government initiatives to install fast-charging stations, rebates on the purchase of DC fast-charging stations, and rising investments from automakers in the construction of the infrastructure needed for DC fast-charging stations to support their long-range battery-electric vehicles, and the capacity of DC fast chargers to provide faster charging than Level 1 and Level 2 charging stations.
- The working class is increasingly in need of low-cost charging, especially in emerging nations with greater populations. As a result, the regular charge sector is anticipated to grow at the fastest rate in terms of revenue throughout the projected period.
- Chargepoint, Inc., Tesla Inc., Chargemaster Limited (BP Pulse), ABB Ltd, Electrify America LLC, EV Connect, Inc., Greenlots, SemaConnect, Inc., ClipperCreek, Inc., and Siemens AG are a few notable market participants.
Emergen Research has segmented the global electric vehicle charging infrastructure based on provider, charging infrastructure, charging level, vehicle type, installation type, application, and region:
Provider Outlook (Revenue, USD Billion; 2017–2030)
- Charging Point Operator
- E-Mobility Service Provider
- Charging Hubs
Charging Infrastructure Outlook (Volume, Million Units, Revenue, USD Billion; 2017–2030)
- Normal Charge
- Tesla Super Charger
- Type-2 (IEC 62196)
Charging Level Outlook (Volume, Million Units, Revenue, USD Billion; 2017–2030)
- Level 1 (120 V)
- Level 2 ( 240 V)
- Level 3 (200V -600V)
Vehicle Type Outlook (Volume, Million Units, Revenue, USD Billion; 2017–2030)
- Electric Bike
- Plug-in Hybrid PEV
- EV Passenger Cars
- Heavy Delivery Vans
Installation Type Outlook (Volume, Million Units, Revenue, USD Billion; 2017–2030)
- Portable Charger
- Fixed Charger
Application Outlook (Volume, Million Units, Revenue, USD Billion; 2017–2030)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- the UK
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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