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Electric Vehicle Chargers Market is Projected to Reach at $1,786 Billion by 2023 | ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, Chargemaster PLC, Schaffner Holdings AG

06-25-2019 07:54 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Electric Vehicle Chargers Market

Electric Vehicle Chargers Market

The global electric vehicle chargers market was valued at $163 billion in 2016, and is projected to reach at $1,786 billion by 2023, growing at a CAGR of 37.5% from 2017 to 2023.
Asia-Pacific dominates this market presently, followed by North America. In 2016, China dominated the market in Asia-Pacific; similarly, the UK led the overall market in the European region. The U.S. is dominating the market in North America presently.

Government regulations regarding the use of electric vehicles to curb the environmental pollution drives the demand for electric vehicles, which boosts the market. Further, rise in demand for electric vehicles is also expected to fuel the market growth. However, high price of such electric vehicles and lack of presence EV chargers at public places is anticipated to hinder the growth of the market.

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In 2016, the on-board chargers segment dominates the global electric vehicle chargers in charging type segment, in terms of revenue. However, based on vehicle type, hybrid electric vehicle led the global market followed, by plug-in hybrid electric vehicle in 2016.

Commercial users segment led the electric vehicle chargers market by end user in 2016. However, residential users segment is anticipated to depict highest CAGR throughout the forecast period.

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The key players profiled in the report include ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, Chargemaster PLC, Schaffner Holdings AG, and POD Point.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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