Electric Vehicle Charging System Market by Product (Home Charging Systems, Commercial Charging Stations), Mode of Charging (Plug-in, Wireless) - Global Opportunity Analysis and Industry Forecast, 2015 - 2022

Based on mode of charging, the market has been segmented into plug-in charging systems and wireless charging systems. Plug-in charging systems dominated the market in 2015, accounting for over 90% of the market revenue. The segment is projected to continue its dominance throughout the forecast period due to increasing government investments in the commercial charging solutions, where plug-in charging solutions are generally preferred.

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Electric Vehicle Charging System Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $8.02 billion by 2022, registering a CAGR of 30.7% during the period 2016-2022. In 2015, Europe was the highest revenue-generating region owing to the increasing penetration of home and commercial charging systems in countries such as the Netherland, Denmark, UK and France. In addition, growing adoption of electric vehicles in countries such as China and Japan due to changing lifestyle and rising disposable income is projected to boost the penetration level of electric vehicles in Asia-Pacific region.

The global market for electric vehicle charging systems is exhibiting a positive growth, worldwide, with a significant rise in the adoption of electric vehicles in the past few years. Increasing awareness and ongoing environment friendly efforts across the globe is fuelling growth of the electric vehicles market, which in turn, is driving the market of electric vehicle charging systems. Moreover, the technological advancements aimed at developing affordable charging solutions are likely to drive the market growth. However, safety concerns with respect to the use of electric vehicle charging systems, might limit the adoption of these systems to a certain extent.

The penetration of electric vehicles is high in developed regions, namely North America and Europe, thereby making them the leading revenue generators of the electric vehicle charging system market. Asia-Pacific is a lucrative market with high growth potential owing to the rapidly increasing numbers of electric vehicles in countries such as China and Japan. Within Asia-Pacific region, Japan has the highest penetration of fast electric vehicle charging stations.

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Global Electric Vehicle Charging System Market is segmented on the basis of product type, mode of charging, charging voltage level and geography. The electric vehicle charging system market, in accordance with product type is bifurcated into home charging systems and commercial charging stations. Based on the mode of charging, the global electric vehicle charging system market has been segmented into plug-in charging systems and wireless charging systems. Based on level of charging, the market is segmented into level 1 (0V-120V), level 2 (121V-240V) and level 3 (241V and above). In addition, for a comprehensive geographic analysis, the electric vehicle charging system market has been studied in detail across four key regions; North America, Europe, Asia-Pacific and Latin America and Middle East and Africa (LAMEA).

Prominent companies operating in the world electric vehicle charging system market follow product launch and collaboration as their major growth strategies for business growth and expansion. Companies profiled in the report include General Electric Company, Evatran Group, Inc., Robert Bosch GmbH, Delta Electronics, Inc., Schneider Electric SE, Eaton Corporation Plc. Tesla Motors, Inc., Delphi Automotive LLP, Siemens AG and ClipperCreek, Inc.

Key Benefits:

• The study provides an in-depth analysis of electric vehicle charging system market with current and future trends to elucidate the major investment pockets in the market.
• Current and future trends in the report determines the overall attractiveness and single out profitable trends in order to gain a stronger foothold in the market.
• The report identifies key drivers, opportunities and restraints that shape the market and provides an impact analysis over the forecast period.
• Quantitative analysis of current market and estimations through 2016-2022 showcase the financial appetency of the market.
• Porter’s five forces model illustrate the potency of buyers & suppliers participating in the electric vehicle charging system market.
• Value chain analysis in the report provides a clear understanding of the roles of different stakeholders involved in the value chain.

Analyst Review:

Electric vehicle charging system, also known as electric vehicle charging station or electric vehicle supply equipment (EVSE), is a charging infrastructure that supplies electric energy to charge battery of electric vehicles. Charging equipment can be differentiated based on charging time and the usage.

Increasing sale of electric vehicles, majorly in the emerging Asian countries such as China is projected to create ample growth opportunities for the charging systems market in near future. Also, increasing disposable income paired with supportive government regulations to adopt energy efficient vehicles is anticipated to increase the adoption of electric vehicles among end users across the globe. As a result of increased number of electric vehicles on the road, there would be increased demand for home charging systems and commercial charging stations. The penetration level of electric vehicles is currently low in countries such as India, Brazil and other emerging economies, due to the high selling price as well as limited models. However, penetration of electric vehicles is high in the U.S. and European countries such as the Netherlands, Norway, and others. In addition, penetration level of home charging systems in the U.S. is about 90% among electric vehicle owners compared to that of 80% in the European region.

Asia-Pacific region holds strong growth potential for electric vehicles market, and in turn opens growth opportunities for key players operating in the electric vehicle charging systems market. Currently, China and Japan are the major markets for electric vehicles in Asia-Pacific region. Owing to high growth potential for electric vehicles, paired with easy accessibility of raw material at low price, many electric vehicle manufacturers are inclined towards targeting Asia-Pacific region and are planning to invest in countries such as China and India.

Prominent players operating in the world electric vehicle charging system market have adopted product launch and collaboration as their major growth strategies to strengthen their market presence.

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