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Electric Vehicle Charging System Market Business Strategies, Technological Innovation, Trends & Top Players by 2030
Electric Vehicle Charging System Market
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Drivers, restraints and opportunities-
Rise in production of electric vehicles, increase in adoption of electric vehicles owing to government initiatives, and surge in demand for low-emission & fuel-efficient vehicles propel the growth of the global electric vehicle charging system market. On the other hand, high cost of electric vehicles and charging infrastructure restrains the growth to certain extent. However, development of wireless charging technology and incorporation of Vehicle-To-Grid (V2g) EV Charging Stations are expected to pave the way for a number of opportunities in the industry.
The home charging systems segment to lead the trail till 2026-
Based on product type, the home charging systems segment contributed to more than four-fifths of the global electric vehicle charging system market share in 2018 and is expected to rule the roost throughout 2019–2026. The fact that home charging system does not involve any additional cost and it can charge the vehicle from an ordinary 120-V socket has augmented the growth. The commercial charging systems, on the other hand, would showcase the fastest CAGR of 49.7% by 2026. This is attributed to the fact that commercial charging systems can charge electric vehicles for longer range in lesser time.
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The plug-in charging system segment to dominate during the estimated period-
Based on mode of charging, the plug-in charging system held the major share in 2018, generating 98% of the global electric vehicle charging system market. This is due to increased demand for charging station and rising penetration of electric vehicles. At the same time, the wireless charging system is projected to register the fastest CAGR of 52.8% during 2019–2026, owing to high-end convenience to use the charger.
Asia-Pacific, followed by Europe and North America, to maintain its top status during the study period-
Based on geography, the Asia-Pacific region, followed by Europe and North America, accounted for nearly half of the global electric vehicle charging system market revenue in 2018 and is anticipated to maintain its top status in terms of revenue. Growing production of electric vehicles and rising adoption of the same due to government regulations for low-emission and fuel-efficient automobiles have augmented the growth. Simultaneously, the LAMEA region would cite the fastest CAGR of 50.9% till 2026. Increase in demand for electric vehicle charging stations in the region has propelled the growth.
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Leading players in the market-
Delphi Automotive LLP
Evatran Group, Inc.
Delta Electronics, Inc.
Siemens AG
General Electric Company
Schneider Electric SE
Eaton Corporation Plc
Robert Bosch GmbH
Tesla Motors, Inc.
ClipperCreek, Inc
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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