Bharat Book Bureau Provides the Trending Market Research Report on “Electric Vehicle Charging Station Market by Application, Level of Charging, Charging Point Type, Infrastructure, Service Type, Installation, Electric Bus Charging, DC Fast Charging, IOT Connectivity and Region - Global Forecast to 2027”under Automotive Market Research Report. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Electric Vehicle Charging Station Market Overview
Electric Vehicle Charging Station Market Research Report - is comprehensive research with in-depth data and contemporary analysis of the Electric Vehicle Charging Station market at a global, regional and key country level, covering different sub-segments of the industry.
The automotive industry is set to experience a few structural changes in the near term due to the rapid developments in novel technologies. Artificial intelligence (AI) and machine learning will significantly transform the manufacturing process improving robotic efficiency, accuracy, and consistency. Level 2 automation including active safety systems and driver assistance is allowing OEMs to add attractive features and bolster revenue growth. However, the full-fledged rollout of level 4 autonomous vehicles is expected to witness further delays for the technology to mature and for consumers to accept.
Impact of COVID-19 on Electric Vehicle Charging Station market
Electric Vehicle Charging Station market is quickly reaching its pre-COVID levels and a healthy growth rate is expected over the forecast period driven by the economic revival in most of the developing nations. Frequent suspension of public transport systems coupled with the highly contagious nature of the virus propelled the need for passenger cars leading to the derived demand for Electric Vehicle Charging Station products.
However, unprecedented situations due to expected third and further waves of the pandemic are creating a gloomy outlook. This study endeavors to evaluate different scenarios of COVID impact on the future of the Electric Vehicle Charging Station market from 2021 to 2028.
Electric Vehicle Charging Station Market Structure and Strategies of key competitors
Companies operating in Electric Vehicle Charging Station business are strategizing moves to enhance their market share highlighting their USP statements, diversifying product folio, and adding attractive features being a few of the key winning strategies. The report offers detailed profiles of top companies serving the Electric Vehicle Charging Station value chain along with their strategies for the near, medium, and long term period.
Electric Vehicle Charging Station Market Trends, Growth Opportunities, and Forecast Scenarios to 2028
Lockdowns across the globe in 2020 and continuing restrictions in 2021 disrupted the Electric Vehicle Charging Station supply chain posing challenges for manufactures in the Electric Vehicle Charging Station industry. Intense competition, fluctuating prices, and shifting OEM preferences are expected to be the major challenges for Electric Vehicle Charging Station Market during the forecast period.
The fast pace recovery of developing economies leading to increased disposable income will support the Electric Vehicle Charging Station market demand between 2021 and 2028.
The Electric Vehicle Charging Station research report portrays the latest trends shaping the Electric Vehicle Charging Station industry along with key demand drivers and potential challenges anticipated for the market during the outlook period.
Electric Vehicle Charging Station Market Analysis by Types, Applications and Regions
The research estimates Global Electric Vehicle Charging Station market revenues in 2021, considering the Electric Vehicle Charging Station market prices, supply, demand, and trade analysis across regions. A detailed market share and penetration of different types, processes, and geographies in the Electric Vehicle Charging Station market from 2001 to 2028 is included.
The report covers North America, Europe, Asia Pacific, Middle East, Africa, and LATAM Electric Vehicle Charging Station market statistics from 2020 to 2028 with further division by leading product types, processes, and distribution channels of Electric Vehicle Charging Station. The status of the Electric Vehicle Charging Station market in 16 key countries over the world is elaborated to enable an in-depth understanding of the Electric Vehicle Charging Station industry.
What's Included in the Report
• Global Electric Vehicle Charging Station market size and growth projections, 2020- 2028
• COVID impact on Electric Vehicle Charging Station industry with future scenarios
• Electric Vehicle Charging Station market size, share, and outlook across 5 regions and 16 countries, 2020- 2028
• Electric Vehicle Charging Station market size, CAGR, and Market Share of key products, applications, and end-user verticals, 2020- 2028
• Short and long term Electric Vehicle Charging Station market trends, drivers, restraints, and opportunities
• Porter’s Five forces analysis, Technological developments in Electric Vehicle Charging Station market, Electric Vehicle Charging Station supply chain analysis
• Electric Vehicle Charging Station trade analysis, Electric Vehicle Charging Station market price analysis, Electric Vehicle Charging Station supply/demand
• Profiles of 5 leading companies in the industry- overview, key strategies, financials, and products
• Latest Electric Vehicle Charging Station market news and developments
Who can benefit from this research
The research would help top management/strategy formulators/business/product development/sales managers and investors in this market in the following ways
1. The report provides 2021 Electric Vehicle Charging Station market sales data at the global, regional, and key country level with a detailed outlook to 2028 allowing companies to calculate their market share and analyze prospects, and uncover new markets, and plan market entry strategy.
2. The research includes the Electric Vehicle Charging Station market split by different types and applications. This segmentation helps managers plan their products and budgets based on future growth rates of each segment
3. The Electric Vehicle Charging Station market study helps stakeholders understand the breadth and stance of the market giving them information on key drivers, restraints, challenges, and growth opportunities of the market and mitigate risks
4. This report would help top management understand competition better with a detailed SWOT analysis and key strategies of their competitors, and plan their position in the business
5. The study assists investors in analyzing Electric Vehicle Charging Station business prospects by region, key countries, and top companies' information to channel their investments.
• All the data presented in tables and charts of the report is provided in a separate Excel document
• Print authentication allowed on purchase of online versions
• 10% free customization to include any specific data/analysis to match with the requirement
• 3 months of analyst support
The report will be updated to the latest month and delivered within 3 business daysThe global electric vehicle charging station market size is projected to grow from 2,354 thousand units in 2022 to 14,623 thousand units by 2027, at a CAGR of 44.1%. Factors such as rising sales of EVs around the world, along with the growing demand for zero emission transport will boost the demand for the electric vehicle charging station market. Developments in technologies like portable charging stations, bi-directional charging, smart charging with load management, usage based analytics and automated payment along with development of ultra-fast charging technology will create new opportunities for this market.
“Public Chargers will be the fastest growing market during the forecast period.”
The availability of public EV charging plays an important role to purchase electric vehicles across the globe. Public charging and access to fast charging are viewed as key criteria when buying an electric vehicle. This is anticipated to bolster revenue growth for the public charging segment. The Asia Pacific region continues to install public chargers at a significant rate due to the rising number of EV users, especially in China, India, and South Korea. These countries have implemented policies to increase the usage of EVs by providing subsidies and reduced taxes. They also encourage the growth of EV manufacturers and related industries by providing grants or implementing preferential policies for EV-related companies to enable them to expand faster.
A steady surge in economic growth, urbanization, travel demand, etc., coupled with increasing investments toward electric mobility to contribute to energy storage and environmental sustainability is anticipated to bolster the growth of the public charging station segment. The North American public EV charging market has been driven by the US, which witnessed an increasing number of EV users, especially in 13 states, such as California, Maryland, etc., and the trend is expected to extend to other states, leading to the high growth of the public charging segment during the coming years. In the European region, the leading EV users include the UK, the Netherlands, Norway, France, and Germany. Other countries are also expected to increase the use of EVs during the coming years, subsequently leading to the growth of EV infrastructure.
“Asia Pacific is expected to be the largest and fastest-growing market during the forecast period.”
The Asia Pacific region comprises of countries such as China, India, Japan and South Korea. The region is home to some of the fastest-developing economies of the world, such as China and India. The governments of these emerging economies have recognized the growth potential of the global electric vehicle charging station market and, hence, have adopted various initiatives to attract major OEMs for the manufacture of electric vehicle charging infrastructure in domestic markets. For instance, charging network providers for EV charging stations have partnered with various OEMs to sponsor free EV charging to EV drivers. This has led to an increase in electric vehicle production in recent years, which caters to domestic as well as overseas demand. Japan and China export electric vehicles and charging solutions across the globe.
Governments in the Asia Pacific region are also focusing on the introduction of electric commercial vehicles. For instance, in September 2020, the Indian Government announced plans to offer incentives worth USD 4.6 billion to companies establishing advanced battery manufacturing facilities as part of its plans to reduce oil imports while switching to EVs. Similarly, in 2019, China undertook measures such as sales tax exemptions. It also provided preferential financing and traffic management policies for electric vehicles besides optimizing its carbon credit program, which will be reduced appropriately in the coming years. The country currently has around 1.147 million EV charging points. Japan also plans to increase its share of EVs and plug-in hybrids by 20% to 30% by 2030 and has taken measures such as increasing subsidies for EV buyers. The South Korean government has been encouraging the usage of EVs through subsidies and tax rebates with the goal of having 430,000 EVs on the road by the end of 2022 and also invested in a program to invest for the improvement of charging infrastructure in the country. This has led to the high demand for charging infrastructure in the region for EVs.
Governments are also encouraging private players to introduce public charging points by providing subsidized electricity rates. China is investing significantly in the production of electric vehicle charging stations to provide charging solutions for the increasing number of EVs in the country. OEMs such as BYD also plan to establish production plants in other parts of the world for the manufacture of electric buses and electric trucks to meet the regional demand. These factors are expected to drive the market in the Asia Pacific region. Many new startups and existing top domestic companies have established their presence in this regional market. For instance, Star Charge has expanded to become one of China’s top EV charging providers. Similarly, Jio in India plans to work with BP to speed up the development of EV charging in the country.
“Europe to be the second-largest region during the forecast period”
The major EV markets in Europe are Austria, Denmark, France, Germany, the Netherlands, Norway, Spain, Sweden, Italy, and the UK. Europe accounted for 24.78% of the global electric vehicle charging station market in 2021 by volume. Normal chargers have a higher share than fast chargers. The top five countries account for more than 83% of all chargers, and the rest is utilized in the rest of the countries. By August 2020, Europe had implemented stringent emission regulation standards to reduce the rising emission levels. Several countries in the region are promoting electric vehicles through significant incentives. The demand for electric vehicle charging stations has increased significantly due to the focus on zero- or low-emission vehicles in the region. The region is home to electric vehicle charging station providers such as Schneider Electric, ABB, Siemens, Efacec, Engie, and various others. The UK announced plans to phase out petrol/diesel-based vehicles by 2030 and encourage the growth of EVs. Other European countries had implemented plans for the transition to EVs during the past decade.
Due to the rising demand for EVs in Europe, the demand for EV charging stations is also rising. According to a report by the European Environmental Agency in November 2021, in Europe, 11.41% of all new vehicle registrations have been EVs. The number of charging stations has grown by approximately 37% with the Netherlands, Norway, the UK, Germany, and France leading in Europe in terms of the growth of EV charging stations. In 2020, EV registrations increased drastically in top European markets. Norway had 75%, Iceland had 46%, Sweden had 33%, and the Netherlands had 28% of new vehicle registrations as EVs. As of December 2021, the EU has over 5 public fast chargers for every 100 km.
Europe has set an ambitious goal of reducing CO2 emissions by 80% by 2030-2050 and has created a roadmap for the same. Governments of various countries in Europe are subsidizing electric infrastructure and the focus is expected to be on electric vehicles in the long run. However, countries in Eastern Europe still lag behind Western European countries such as the UK, Germany, France, and Spain in terms of vehicle norms and technology. Hence, there is a relatively low presence of electric vehicle manufacturers and electric vehicle infrastructure in Eastern Europe. This offers an opportunity for electric vehicle charging station providers as well as battery manufacturers to expand their footprint in Eastern Europe. This expansion is expected to increase the demand for electric vehicle charging stations in Europe.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
•By Company Type: Tier I - 67%, Others - 9%, and OEMs - 24%
•By Designation: C Level Executives - 33%, Directors - 52%, and Others - 15%
•By Region: North America - 43%, Europe - 24%, Asia Pacific - 33%
The electric vehicle charging station market is dominated by major charging providers including ABB (Switzerland), Shell (Netherlands), ChargePoint (US), Tesla (US), and BYD (China). They develop products and provide service offerings for the electric vehicle charging ecosystem. They have initiated partnerships to develop their EV charging technology and provide finished products and charging services to their respective customers for the electric vehicle charging station market.
The report covers the electric vehicle charging station market, in terms of Application (Public, Private), Level of Charging, Charging Point Type, Infrastructure, Service Type, Installation, Electric Bus Charging, DC Fast Charging, IOT Connectivity and Region (Asia Pacific, Europe and North America). It covers the competitive landscape and company profiles of the major players in the electric vehicle charging station ecosystem.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
•The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric vehicle charging station market and its subsegments.
•This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
•The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities