Electric Vehicle Charging Stations Market Worth to cross USD 23.3 BN By 2027
Posted On March 26, 2021
The Global Electric Vehicle Charging Stations Market value is expected to grow by an impressive 42% of CAGR during the forecast period of 2021 to 2027. The market can grow to USD 23.3 BN by 2027 as per the report by Value Market Research. Electric vehicles, expected to play a significant role in the transportation sector, and effective recharging systems key to avoiding disruption or stress to the public power grid will be the central stimulants for the electric vehicle charging market. The growing use of electric vehicles in the urban sectors as they reduce the carbon emissions that contribute to global warming will boost this market's growth. The increased availability of charging stations based on renewable energy will enhance the market growth. The emerging innovative charging systems like wireless charging, pop-up pavement chargers, self-heating batteries, and electrified roads will be a market booster. A significant number of electric vehicles not having access to the charging machines will be the main barrier to market growth.
Electric vehicle charging involves recharging plug-in electric vehicles like electric cars, neighborhood electric vehicles, and plug-in hybrids. The electric grid spread almost everywhere enables charging EVs at home, at work, or on the road. There are many charging options like simple charging posts, charging cabinets and fully automated charging stations integrated with power distribution equipment. The time taken to recharge an EV depends on the energy that has already been used and the power output of the charger. Since EVs are often digitally connected, EV charging stations can control charging via a smartphone app. The cost of recharging an EV is much cheaper than refueling a new gasoline car.
The detailed research study "Global Electric Vehicle Charging Stations Market Report By Type Of Charger (AC Charging Station, DC Charging Station), By Application (Public, Private), By Charging Infrastructure Type (CCS, CHAdeMO, Normal Charge, Tesla Supercharger, Type 2 (IEC 62196), Others), By Installation Type (Portable, Fixed), By Charging Level (Level 1, Level 2, Level 3) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" assists in understanding the market dynamics with qualitative as well as quantitative data.
On the basis of Type of Charger the market is segmented into AC Charging Station, DC Charging Station. By Application the electric vehicle charging stations market is categorised as Public, Private. By Charging Infrastructure Type the electric vehicle charging stations market is categorised as CCS, CHAdeMO, Normal Charge, Tesla Supercharger, Type 2 (IEC 62196), Others. Based on Installation Type the electric vehicle charging stations market is segmented as Portable, Fixed.By Charging Level the electric vehicle charging stations market is categorised as Level 1, Level 2, Level 3.The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the electric vehicle charging stations market.
The Report Segments Global Electric Vehicle Charging Stations Market -
By Type of Charger
- AC Charging Station
- DC Charging Station
By Charging Infrastructure Type
- Normal Charge
- Tesla Supercharger
- Type 2 (IEC 62196)
By Installation Type
By Charging Level
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
AeroVironment, Inc., ABB, BP Chargemaster, ChargePoint, Inc., ClipperCreek, Inc., Eaton Corp., General Electric Company, Leviton Manufacturing Co., Inc., SemaConnect, Inc., Schneider Electric, Siemens AG.
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