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Electric Vehicle Charging Station Market

04-12-2019 11:54 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

The global electric vehicle charging station market grew from an estimated $1,645.6 million in 2015 and is expected to reach $29,683.3 million by 2022 growing at a CAGR of 51.7% during 2016 – 2022. The global market is categorized into AC and DC charging stations based on the source of charging. DC charging stations are comparatively costlier than its AC counterpart, which is why the market share of AC charging station in terms of volume is much higher, as compared to that in terms of value. The demand for EV charging stations in public sector has been increasing.

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The increasing competition in the hospitality industry has been emerging as boon for the EV chargers market. In order to provide value-added services to their customers, the hospitality companies offer EV charging facilities, which is increasing the demand of EV charging stations from the hospitality industry. The large multinational corporations as a part of employee welfare also offer EV charging facilities.

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The market for electric vehicles in Asia-Pacific has been propelling, owing to the growing concern of government about environmental pollution. China is the forerunner in the EV market of Asia-Pacific, while the other major economies such as Japan, Australia, South Korea and India are also witnessing an increase in the number of electric vehicle sales. Owing to the increasing number of electric vehicles in the country, the government in China has recently announced a funding of $16 billion for the installation of new EV charging stations.

MARKET SEGMENTATION

By Product
AC Charging Stations
Level 1
Level 2
DC Charging Stations
CHAdeMO
SAE Combo
Others

By Location
Public
Private

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The major companies in the global EV charging station market include Magna International Inc., AeroVironment Inc., General Electric, Chargepoint Inc., Eaton Corporation, Schneider Electric, ABB Group, Efacec Electric Mobility S.A., Chargemaster Plc, and CarCharging Group Inc.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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