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. Further, supportive government initiatives to popularize electric vehicle as a substitute over traditional vehicles is anticipated to drive the market growth, worldwide.

The global electric vehicle charging system market is segmented based on product type, mode of charging, level of charger and geography. Based on product type, the market is segmented into home charging systems and commercial charging stations. In 2015, home charging systems segment dominated the market with around 71.0% market share owing to high penetration of home charging facility in the U.S. and major European countries.

On the basis of charging voltage level, the market has been segmented into Level 1 (0V-120V), Level 2 (121V-240V) and Level 3 (241V and above). Level 2 chargers are used in both, home and commercial applications, as a result of which, this segment is projected to lead the market over the forecast period.

Further, the world electric vehicle charging system market has been segmented based on geography into North America, Europe, Asia-Pacific and LAMEA. In 2015, Europe was the highest revenue generating region, which accounted for around 37% market revenue, followed by North America and Asia-Pacific.

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The report also highlights the competitive scenario of global electric vehicle charging system market. It provides a comprehensive analysis of key growth strategies adopted by prominent players operating in the market. Major players operating in the market follow product launch, strategic alliances and collaboration as their key growth strategies to expand their presence and gain a competitive edge. For instance, in March 2015, General Electric Company entered into a joint marketing and product agreement with EV Connect, a leading supplier of electric vehicle charging solutions. The agreement was aimed at expanding the global capabilities of both companies in the fast growing electric vehicle market.

Major 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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