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
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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