APAC Electric Charging Station Market To Reach CAGR of 30.3% By 2026

The APAC electric charging station market was valued at US$ 1,238.4 million in 2017 and is expected to increase to US$ 3,785.8 million by 2026, registering a CAGR of 30.3% over the forecast period from 2018 to 2026, according to APAC Electric Charging Station Market Report, by Charging Station Type (AC Charging, DC Charging, and Wireless Charging), by Technology Type (Level 1, Level 2, and Level 3 ), by End User (Private and Public), and by Country (China, Japan, ASEAN, Australia, South Korea, and Rest of Asia Pacific), published by Coherent Market Insights.

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Increasing awareness about pollution hazards and efforts taken to reduce the same is expected to drive growth of the APAC electric charging station market. Dependence on fuels that are imported is one of the major issues faced by Asian countries. Usage of electric vehicles helps in reducing the use of fuel. Moreover, these vehicles are more economical as compared to conventional fuel-based vehicles. Electric charging stations are more beneficial compared to conventional fuel stations, as it saves the fuel cost and require less maintenance. Electric vehicles aids in reducing the reliance over foreign fuel, which helps in gaining economic stability. Many government and private organizations are sponsoring the research in electric vehicle and related market.

Detailed Segmentation:
• APAC Electric Charging Station Market, By Charging Station Type:
-AC Charging
-DC Charging
-Wireless Charging
• APAC Electric Charging Station Market, By Technology Type:
-Level 1
-Level 2
-Level 3
• APAC Electric Charging Station Market, By End User:
-Private
-Public

Some of the key players operating in the APAC electric charging station market include PluginIndia.com, Greenlots, Mitsubishi Motors Corporation, ChargePoint, Inc., NARI Technology Co., Ltd, Blink Charging Co, Toshiba Corporation, Magenta Power, Star Charge, and Efacec among others.

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As per Coherent Market Insights’ analysis, electric charging station market is expected to grow at a rapid pace over the forecast period. This growth is attributed to increasing need for vehicles run using renewable energy, which is expected to aid in growth of the APAC electric charging station market.
China is expected to account for the largest market share in the APAC electric charging station market, while India is expected to witness fastest growth over the forecast period. The presence of large number of electric vehicles in China and increasing need for eco-friendly transport medium are some of the key factors driving the market growth.

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This release was published on openPR.