Electric Vehicle Charging Stations Market Research Report 2019 With ChargePoint, Inc, Tesla, Blink Charging Co, Efacec, Engie Group, ABB, Schneider Electric, Siemens AG, Liikennevirta Oy (Ltd.), SemaConnect, Others - Forecast 2026

Global Electric Vehicle Charging Stations Market Research Report 2019: By Charging Station (AC charging station, DC charging station), Vehicle Type (Battery electric vehicle (BEV), Plug-In Hybrid Electric Vehicles(PHEV)), Installation Type (Residential, Commercial), Technology (Level 1, Level 2, Level 3), charging Stations Standards (GB/T, CHAdeMO, CCS, Tesla supercharger, SAE J1772, IEC 62196), Geography (Asia-Pacific, Europe, North America, Middle East and Africa, South America) – Forecast to 2026. Also the Global electric vehicle charging stations market is expected to reach USD 119,576.36 million by 2026 from USD 5,111.12 million in 2018, at a CAGR of 48.3% in the forecast period of 2019 to 2026.

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Some of the prominent participants operating in this market are:

Tesla, Efacec, Engie Group, ABB, Schneider Electric, Siemens AG, Liikennevirta Oy (Ltd.), SemaConnect, ClipperCreek, Allego B.V., Leviton Manufacturing Co., Inc., EVgo Services LLC, ChargePoint, Inc., Blink Charging Co., Alfen N.V., AeroVironment, Inc. and among others.

The electric vehicle charging stations market is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to increasing demand for electric vehicles, incentives & subsidies by government for electric vehicles and increasing environmental concerns. The vehicle-to-grid (v2g) technology for EV charging stations and renewable sources of energy for electricity are also posing as an opportunity for the market.

The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, In December 2018, ChargePoint Inc. announced the partnership with Greenlots for enabling the charging between the networks of North America.

The partnership aims at enabling the charging between networks and give access to additional charging locations across North America without any additional cost. The partnership focuses on accelerating the adoption of electrified transportation. Electric vehicle charging market is gaining momentum owing to increased demand of electric vehicles. The partnership will enable the electric vehicle drivers to use ChargePoint and Greenlots mobile applications for locating the charging stations thus benefitting the company in installing more charging stations with new price plans and creating opportunities for growth in the electric vehicle charging station market.

ChargePoint, Inc dominated the electric vehicle charging stations market and accounts for the highest market share in 2018 which is followed by Tesla and Blink Charging Co. The other key players existing in the market includes Efacec, Engie Group, ABB, Schneider Electric, Siemens AG, Liikennevirta Oy (Ltd.), SemaConnect, ClipperCreek, Allego B.V., Leviton Manufacturing Co., Inc., EVgo Services LLC, Alfen N.V., AeroVironment, Inc and others.

OPPORTUNITY

VEHICLE-TO-GRID (V2G) TECHNOLOGY FOR EV CHARGING STATIONS

Electric vehicles uses electricity to charge and this can be generated from many sources like by using fuels, solar or wind energy and others. But they can be costly at times, and for solving this issue, V2G technology has been introduced. V2G, a system which helps in communicating the electric vehicle with the power grid, enables the electric vehicles to store or discharge electricity form the renewable energy sources.

CHALLENGE

HIGH EQUIPMENT AND INSTALLATION COST

The number of electric vehicles is rising rapidly, and so is the number of charging stations. But the cost for setting up the charging stations is a bit high, which in turn is acting as a challenge for the manufacturers of the charging stations as they would incur the loss, if the deployment of the number of charging stations would be less.

The components which are required for setting up a charging station include charging station hardware, electrician materials, electrician labor, other materials and labors, transformer and mobilization.

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Market Trends

On the basis of charging station, the global electric vehicle charging stations market is segmented into AC charging station, DC charging station and inductive charging station. The AC charging station segment is sub-segmented into residential and commercial. The DC charging station segment is sub-segmented into residential and commercial.

On the basis of vehicle type, the market is segmented into battery electric vehicle (BEV) and plug–in hybrid vehicle (PHEV). The marine plug–in hybrid vehicle (PHEV) segment is sub-segmented into series PHEV and parallel PHEV.

On the basis of technology, the market is segmented into level 1, level 2, and level 3.
On the basis of charging stations standards, the market is segmented into SAE J1772, CHADEMO, TESLA SUPERCHARGER, GB/T, CCS, and IEC 62196.

On the basis of installation type, the market is segmented into residential and commercial.

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