Press release
EV Charging Infrastructure Market Is Growing Massively By 2019-2025 | Major Players: Volkswagen, E.ON, BMW, Nissan Motor, ABB, ChargePoint, RWE, Siemens, EVgo, EVBox, Schneider Electric
EV Charging Infrastructure Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.
Increasing awareness toward environment sustainability along with escalating demand for low carbon, electric fueled and energy efficient transportation is set to drive the EV charging infrastructure market growth. Growing energy prices, rapid industrialization coupled with numerous collaborations amongst various vehicle manufacturing companies including BMW Group and Nissan will encourage the product installation. Strict government policies and mandates aiming at carbon emission reduction will further boost the industry scenario.
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Rising demand for electricity along with increasing number of green energy vehicles will influence the product installation. Technological advancements combined with mounting investments in charging infrastructure development is set to propel the product penetration. Moreover, increasing focus toward clean power equipment to accomplish the set energy levels coupled with an improvement in the air quality are the underline parameters augmenting the business outlook.
DC charging unit is projected to grow owing to ongoing R&D activities, connections to the grid, ability to store energy along with capability to receive & send utility pricing signals. Efficient connector standards including CCS, CHAdeMO, GB/T and Tesla Supercharger complemented by the surging demand for fast & efficient charging stations is set to foster the industry landscape. The ability of systems to add extra miles of range to vehicle amounting up to 90 miles with 30 minutes of charging will boost the product adoption.
Public charging stations in 2018 were valued over USD 4 billion. Growing production of electric vehicles along with promotional government subsidies and incentives is anticipated to stimulate the product adoption. Progressive advancements in the battery technology leading to gradual installation of battery swapping stations will strengthen the business landscape. In addition, improved and efficient charging stations owing to advancement in machineries for faster charging process, in comparison to the conventional units will boost the business scenario.
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Increasing EV adoption specifically in California and Northwest Pacific region along with greater infiltration of single family houses is set to influence the U.S. charging infrastructure market growth. Various programs & projects from the ESCOs aimed at construction, development, funding and design of public infrastructure projects will strengthen the industry landscape. For instance, in 2018, Southern California adopted USD 343 million program to deploy infrastructure at over 870 sites thereby supporting the electrification of over 8,000 heavy and medium duty vehicles.
Netherlands EV charging infrastructure market by 2025 is anticipated to exceed 200 thousand units. Introduction of stringent government policies and mandates for emission reduction coupled with issuance of vehicle rebates & tax credits will augment the industry landscape. Rising concerns toward the expanding carbon footprint owing to the fuel usage in vehicles will boost the product penetration. Furthermore, adoption of the monetary incentive programs is set to positively impact the product demand.
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Global Market Insights, Inc.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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