Press release
Electric Vehicle Charging Stations Market Value is Expected to Reach $15 Billion by 2023 | Covid 19 Growth And Change
Electric Vehicle Charging Stations Market
The global electric vehicle charging stations market is expected to grow from $6.4 billion in 2019 to $6.5 billion in 2020 at a compound annual growth rate (CAGR) of 2.1%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 36% from 2021 and reach $15 billion in 2023.
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The electric vehicle charging station market consist of sales of electric vehicle charging services. Electric vehicle charging stations provides charging facility to electric vehicles through alternating current (AC) and direct current (DC) charging. AC charging station consists of level 1 and level 2 charging. Level 1 charging station uses 120V AC current, level 2 Charging station uses 240V AC current to charge the vehicles. Whereas the DC charging station also known as Level 3 charging station uses 480V DC current to charge the EVs.
Increasing tax incentives and subsidies given to local automakers to produce electric vehicles is driving the demand for electric vehicle (EV) charging station market. Tax incentives and subsidies to the electric vehicle makers is encouraging auto makers to make more Electric vehicle which will generate more demand for EV charging stations. In 2017, China`s subsidy policy caused 53% increase in the manufacture and sale of electric vehicles in the country. Electric vehicles sales in China was almost four times the numbers sold in the USA in 2017, the growth in sales in China is majorly attributed to the subsidy policies and tax incentives given by the Chinese government.
Electric Vehicle Charging Stations Market Segmentation: -
By Installation Type
Home Charging System
Commercial Charging System
By Connector Type
CHAdeMO
CCS
GB/T
Tesla Supercharger
Others
By Mode Of Charging
Plug In Charging System
Wireless Charging System
By Mode Of Charging
Plug In Charging System
Wireless Charging System
By Charging Station
AC charging station
DC charging station
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Few Points From Table Of Content
1. Executive Summary
2. Electric Vehicle Charging Stations Market Characteristics
3. Electric Vehicle Charging Stations Market Size And Growth
4. Electric Vehicle Charging Stations Market Segmentation
5. Electric Vehicle Charging Stations Market Regional And Country Analysis
.....
25. Electric Vehicle Charging Stations Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Electric Vehicle Charging Stations Market
27. Electric Vehicle Charging Stations Market Trends And Strategies
28. Electric Vehicle Charging Stations Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Electric Vehicle Charging Stations Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Electric Vehicle Charging Stations Market are Tesla, Chargepoint, Siemens, ClipperCreek, Schneider electric, Eaton.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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