Asia-Pacific Electric Vehicle Charger Market Trends, Growth, Size, Share, Analysis and Forecast 2025

Asia-Pacific electric vehicle charger market is forecast to grow at a CAGR of over 24% during the forecast period, 2019-2025. Asia-Pacific is the largest electric vehicle market as China's global share in electric vehicle industry sales is more than 50%. Key aspects for the growth of the market include growth in the electric vehicle market, government support, high awareness among people and the presence of major market players in the region. For instance, China aims to develop 4.3 million private chargers, 500,000 public chargers by 2020. The government of India, Japan, and South Korea are also providing significant subsidies to develop better quality charging infrastructure. Most of the major electric vehicle companies are working in the region which includes BMW, General Motors, Daimler, Honda Motor, Hyundai Motor, Kia Motors, Nissan Motor, Tata Motors, Toyota Motor, Volkswagen, BYD, Great Wall Motors, and so on. Tesla., Inc. has delivered its first car that is made in China, which is expected to provide new options to the electric vehicle consumers in China. Moreover, in Japan, in May 2014, Toyota, Nissan Honda, and Mitsubishi jointly established a new company named Nippon Charge Service, LLC, for the promotion of installation of chargers for electric vehicles in the country.

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Major companies contributing to the market include ABB Ltd., Tesla, Inc., TGOOD Global Ltd., Webasto SE, Nissan Motor Co. Ltd., Zhejiang Young Energy Technology Co., Ltd, and others.

Asia-Pacific electric vehicle charger market is segmented on the basis of ownership, charger type, and connector type. By ownership, the market is further bifurcated into public and private. Public chargers are forecast to grow at a considerable growth rate during the forecast period. By charger type, the market is bifurcated into slow chargers and fast chargers. Due to government and private funding, the fast charger market is estimated to grow at the highest growth rate in the region. By connector type, the market is further divided into AC connectors and DC connectors. AC connector market is further divided into Type 1, Type 2 and other segments, whereas the DC connector market is segmented into CHAdeMO, Combined Charging System (CCS), Type 2 (Tesla). DC connectors are expected to show a considerable growth rate during the forecast period.

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Geographically, the market is divided into China, Japan, India, South Korea and Rest of Asia-Pacific. China held the largest market share in the electric vehicle charger market whereas India is expected to show lucrative growth during the forecast period. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Market Segmentation

Asia-Pacific Electric Vehicle Charger Market by Ownership

o Public
o Private

Asia-Pacific Electric Vehicle Charger Market by Charger Type

o Slow Charger
o Fast Charger

Asia-Pacific Electric Vehicle Charger Market by Connector Type

AC Connectors
Type 1
Type 2
Other (Domestic Socket)
DC Connectors
Combined Charging System (CCS)
Type 2 (Tesla)

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