Electric vehicle Charging Station Market 2019 Growing At Highest CGAR 2019 To 2023 By Size, Trends, Share, Growth And Region

With electric vehicles reducing our dependence on fuel-based vehicles, the Global Electric vehicle Charging Station Market likely to grow between 2019 and 2023. With electric vehicles reducing the dependence on vehicles running on fuel, there is a need for an electric vehicle charging station. The market for this has been growing lately. Market Research Future (MRFR) has unveiled a research report about the global electric vehicle charging station market that anticipates hike for this market between 2019 and 2023.

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Key Players:

The key players in the global electric vehicle charging station market include ABB Ltd. (Switzerland), AeroVironment Inc. (USA), Elektromotive Limited (UK), GE Company (USA), and Schneider Electric SE (France).

The factors that are fuelling the demand for such vehicles include increasing awareness among individuals regarding the depleting state of the environment, and substantial advantages of electric vehicles over traditional fuel-based vehicles. With original equipment manufacturers (OEMs) focused on connected electric vehicle solutions for customers wishing for electric vehicles range, the market for the electric vehicle charging stations is expected to witness rapid growth during the forecast period.

High initial costs associated with electric vehicles batteries might pose as a major hurdle for the electric vehicle charging station market. Despite becoming cheaper at a steady pace, the batteries still constitute a major chunk of the electric vehicles price. Thus, the electric vehicles are still expensive. The global electric vehicle charging station has been segmented on the basis of the charging station, connector type, and lastly, region. Based on the charging station, the market has been segmented into AC charging station, DC charging station, and an inductive charging station. Based on the connector type, the market has been segmented into chademo, Combined Charging System (CCS) and others.

The regional segmentation of the global electric vehicle charging station market segments the market into the regional markets namely North America, Europe, Asia Pacific and the Middle East & Africa (MEA). According to the report, Asia Pacific is expected to emerge as the biggest regional market during the forecast period, followed by Europe and North America. The cream of the market revenue in the Asia Pacific region comes from China, Japan, India, and South Korea, followed by the rest of the Asia Pacific region. MEA region is a small market. The market is low due to, lack of education, lack of technological development, and political instability. There is a steady rise due to governments trying to reduce dependence on fuel based vehicles.

Factors driving the North American market include rapidly increasing sales of electric vehicles, supported by government initiatives and increasing fuel prices, and the massive expense in the development of electric vehicle infrastructure (recharge stations) and other policies. In North America, the sales of electric cars are increasing. Due to high disposable income and government initiatives, the biggest country-specific markets in North America are Canada and the United States of America (USA). Europe is one of the most promising regional markets due to the existence of profitable countries such as France, Germany, Italy, Norway, Spain, and the United Kingdom (UK).

Latest Industry News:

The first up to seven electric car fast-charging stations to be developed by Pacific Power is ready. To be located in Oregon communities, it is set for Klamath Commons Park in Klamath Falls. Six more such fast charging stations are underway. 12 SEP 2018

The City of Fremont has completed installation of two ChargePoint electric vehicles (EV) charging stations — located in downtown Fremont, and along the 23rd Street corridor. 11 SEP 2018

Table Of Contents:

1 Introduction

1.1 Definition

1.2 Scope Of Study

1.3 Research Objective

1.4 Assumptions & Limitations

1.5 Market Structure:

2 Research Vehicle Typology

2.1 Research Process

2.2 Primary Research

2.3 Secondary Research

3 Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

3.5 Macroeconomic Indicators

4 Market Factor Analysis

4.1 Porter’s Five Forces Model

4.1.1 Bargaining Power Of Suppliers

4.1.2 Bargaining Power Of Customer

4.1.3 Intensity Of Competitor’s

4.1.4 Threat Of New Entrants

Continued…

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This release was published on openPR.