EV Charging Infrastructure Market to Witness Huge Growth by 2027 - ABB, ABM Industries, Bosch Automotive Service Solution, ChargePoint, DELTA ELECTRONICS, Driivz,EVbox, Leviton Manufacturing

The global EV Charging Infrastructure market is accounted to US$ 6.45 Bn in 2018 and is expected to grow at a CAGR of 36.8% during the forecast period 2019 – 2027, to account to US$ 95.98 Bn by 2027.

Europe is anticipated to be the fastest growing region, and Asia-Pacific is to be the highest revenue contributor throughout the forecast period in the EV Charging Infrastructure market. European countries: France, Germany, the UK, the Netherlands, Norway, Switzerland, Belgium, and Denmark, among others, have adopted EVs in significantly large quantities and are continuing to foster.

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Key Benefits-

• To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global EV Charging Infrastructure Market

• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)

The stringent rules and regulations to reduce the increasing amount of CO2 in the air by European governments have led the population to adopt a number of EVs, thereby, catalyzing the growth of installation of EV charging infrastructures in the countries. The European region is making significant strides in EV and EV charging infrastructure sectors year on year is boosting the businesses of the market players operating in the EV Charging Infrastructure market.

Leading Key Players:

• ABB Ltd.
• ABM Industries Incorporated
• Bosch Automotive Service Solution
• ChargePoint, Inc.
• DELTA ELECTRONICS
• Driivz Ltd.
• EVbox
• Leviton Manufacturing Co., Inc.
• Siemens AG
• Tesla, Inc.

The trend of electric vehicle charging infrastructure is growing at an exponential growth rate. The high adoption rate of electric vehicle globally is demanding the requirement of quick and efficient charging stations for charging of the electric vehicle. The Government globally is focusing on taking various initiatives to develop and install EV charging stations. For instance, the US government launched an Energy Program at work named “Charge Georgia.” Under this initiative, the availability of public electric vehicle (EV) charging stations across the state of Georgia has increased significantly, which permit the EV Charging Infrastructure market to prosper in the forecast period.

A new technology known as, “Robotic Charging,” which is the smartest way of charging your electric vehicle. It is an autonomously charging method which makes use of cameras to recognize the charging socket in the vehicle and get connected to it. This new technology is fully controlled by robots which allow the series of an electric vehicle to charge in various parking positions with high speed combined charging system (CCS). The market players globally are focusing towards the development of this new technology to provide better and quicker charging process. Some of the automakers who took the initiative to develop robotic charging system are Tesla, VOLTERIO GmbH, Volkswagens, and many more.

A new technology known as, “Robotic Charging,” which is the smartest way of charging your electric vehicle. It is an autonomously charging method which makes use of cameras to recognize the charging socket in the vehicle and get connected to it. This new technology is fully controlled by robots which allow the series of an electric vehicle to charge in various parking positions with high speed combined charging system (CCS). The market players globally are focusing towards the development of this new technology to provide better and quicker charging process. Some of the automakers who took the initiative to develop robotic charging system are Tesla, VOLTERIO GmbH, Volkswagens, and many more.

The EV Charging Infrastructure market by hardware is segmented into AC Charger and DC Charger. The trend of charging their vehicles overnight at home has influenced the EV owners to procure and install AC chargers, which has boosted the AC charger segment revenue over the years. The AC charger manufacturers are constantly witnessing increasing demand for Level 1 chargers, attributing to the increase in electric vehicles in the developed countries as well as developing countries. Thus, enhancing the EV Charging Infrastructure market in the forecast period.

New market initiatives were observed as the most adopted strategy in the global EV Charging Infrastructure market. Few of the recent market initiatives are listed below:

2019: EVBox partnered with Share&Charge, to deliver an all-in-one charging experience to its customers. With this partnership, the company provides an advanced ecosystem thinking and community building for better forthcoming EV Charging Economy.

2018: ChargePoint Secures $240 Million in Series H Funding as Electric Mobility Revolution Accelerates.

2018: ABB launched the economical EV charging solution in India, to offer high quality and cost-effective electric car charging point to be used for private and business purposes.

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GLOBAL EV CHARGING INFRASTRUCTURE MARKET SEGMENTATION

GLOBAL EV CHARGING INFRASTRUCTURE MARKET — BY PLATFORM
• Hardware
• Services

GLOBAL EV CHARGING INFRASTRUCTURE MARKET — BY HARDWARE
• AC Charger
• DC Charger

GLOBAL EV CHARGING INFRASTRUCTURE MARKET — BY CHARGER TYPE
• Public Charger
•Private Charger

Reason to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global EV Charging Infrastructure Market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the EV Charging Infrastructure Market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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This release was published on openPR.