EV Charging Infrastructure Market Showing Prodigious Growth in Future with 36.8% of CAGR by 2027
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 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 is driving the EV charging infrastructure market.
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Competitive Landscape: EV Charging Infrastructure Market: 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.
The report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the EV Charging Infrastructure industry. Growth of the overall EV Charging Infrastructure market has also been forecasted for the period 2021-2027, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Market Segments and Sub-segments Covered in the Report are as per below:
In the recent few years, EV charging infrastructure market has noticed noteworthy product innovation and partnership activity. Some of the significant deals include, in 2018 ChargePoint announced its partnership with Greenlots, to enhance the access for its customers to thousands of additional charging sites across North America with no additional cost. The partnership would strengthen the company’s presence in North America.
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 reports cover key developments in the EV Charging Infrastructure Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Highlights of the report:
• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market
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