EV Charging Infrastructure Market 2020 Global Industry Size, Share, Revenue, Business Growth, Demand and Applications Market Research Report to 2027

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 for US$ 95.98 Bn by 2027.

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In 2018, Asia-Pacific accounted for the largest share in the EV Charging Infrastructure Market. Europe region is expected to be the fastest-growing region in the EV Charging Infrastructure market. The demand for EV Charging Infrastructure is anticipated to be robust, and will highly impact the growing environmental issues, as well as the adoption of electric vehicles globally. This trend is particularly to be witnessed in the US and China, which comprises of largest electric vehicle market across the globe, accounting for over 60% of the value of global electric vehicle market share. With the constantly growing demand for charging stations, the manufacturers are increasing their production lines, investing in new and advanced technologies which are driving the EV charging infrastructure market.

Some of the key players operating in the EV Charging infrastructure market are ABB Ltd., ABM Industries Incorporated, Bosch Automotive Service Solution, ChargePoint, Inc., Delta Electronics, Driivz Ltd., EVbox, Leviton Manufacturing Co., Inc., Siemens AG, and Tesla, Inc. among others.

Based on hardware, the AC Charger is expected to dominate the EV charging infrastructure market during the forecast period. 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. China, the US and France are some of the developed countries generating enormous demand for AC chargers owing to consistently rising number of EVs in these countries.

The China holds the largest EV charging infrastructure market share in the Asia-Pacific region. The government of China is focusing strongly towards the deployment of charging station across tier-1 cities such as Beijing and Shanghai. Currently, Beijing targeted installation of approx. 4.8 million charging posts and about 1, 00,000 stations by 2020. The current policy even also focusing on the deployment of charging facilities across new residential construction in the city. Such a robust initiative of governments and private market players lead towards the growth of EV Charging infrastructure across the country. This factor would help the China market to sustain its share in the EV Charging infrastructure market.

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. 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.

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