Electric Vehicle Charging Infrastructure Market to Reach $49.31 Billion By 2026 | Top Vendors: ABB Group, AeroVironment, Elektromotive, ChargePoint Inc, Schneider Electric SE

The global Electric Vehicle Charging Infrastructure market is expected to reach USD 49.31 Billion by 2026, according to a new report by Reports and Data. Though, over the past century, the petroleum-fueled combustion vehicles have dominated, the recent advancements in the technology of electric vehicles have presented an opportunity for its growth to revolutionize the transportation sector. The electric vehicles are projected to approach cost-competitiveness with conventional vehicles, owing to the reduction in battery costs and increased production volumes over the next 10 years. The major hindrance to the growth of electric vehicle market is the lack of charging infrastructure to actually cater 2 million electric cars in 2017 equating to 10% of new vehicle sales in multiple markets. Hence, the important requirement for large scale transition to electro mobility is the development of a robust charging infrastructure network

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Further key findings from the report suggest
The market for Fast charger is projected to grow significantly and deliver a CAGR of 47.8 percent during the forecasted period. The electric vehicle markets vary greatly by their different numbers of slow charging and DC fast charging infrastructure. In China, the cities tend to have the highest proportion of fast charge points approximately 30% to 40% of all the public charging facilities. The lowest percentage of rapid charge points is in cities of Netherlands accounting for approximately 1.5% to 2%. This low number may reflect the large numbers of PHEVs (plug-in hybrid electric vehicle) lacking fast-charging capability and the large numbers of curbside charging stations intended for overnight use.

The CHAdeMO connector segment was valued USD 42.2 Million in 2017 and is anticipated to grow significantly during the forecasted period. The lowest percentage of rapid charge points is in cities of Netherlands accounting for approximately 1.5% to 2%. This low number may reflect the large numbers of PHEVs (plug-in hybrid electric vehicle) lacking fast-charging capability and the large numbers of curbside charging stations intended for overnight use.

The regulatory policies that require greater electric vehicles sales nationally reinforcing the preferential access for electric vehicles locally, the growth could be even higher which precisely means that electric vehicles on the world’s roads could increase from 2 million in early 2017 to over 10 times that number by 2026.

Key participants include ABB Group, AeroVironment Inc., Elektromotive Limited, ChargePoint Inc., Schneider Electric SE, Chargemaster Plc, Eaton Corporation, Siemens AG, SemaConnect Inc., and Leviton Manufacturing Co., Inc.

Read more at: https://www.reportsanddata.com/report-detail/electric-vehicle-charging-infrastructure-market

For the purpose of this report, Reports and Data has segmented the global Electric Vehicle Charging Infrastructure market basis of Charger Types, Connector, Applications, Charging Stations and Region:

Charger Type (Revenue, USD Million; 2016–2026)
Slow Charger
Fast Charger

Connector (Revenue, USD Million; 2016–2026)
CHAdeMO
CCS (Combined Charging System)
Others

Applications (Revenue, USD Million; 2016–2026)
Commercial
Residential

Charging Stations (Revenue, USD Million; 2016–2026)
AC Charging Station
DC Charging Station

Regional Outlook (Volume, Kilo Tons; Revenue in USD Million; 2016–2026)
North America
U.S.
Canada

Europe
Germany
France
UK
The Netherlands
Spain
Italy
Rest of the Europe

Asia Pacific
China
India
Japan
Rest of Asia-Pacific

Middle East & Africa

Latin America
Brazil

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This release was published on openPR.