Electric Vehicle Charging Stations Market Growth Prospects, Trends And Forecast Up To 2031

Electric Vehicle Charging Stations Market 2022

With the bolstering sales of electric vehicles worldwide, automakers are keen towards establishing robust infrastructure so as to fulfil the operational requirements of these electric vehicles. Increasing adoption of electric vehicles demands proper infrastructure for charging. Moreover, to meet the consumer demand, significant advancements, both in home and outdoor charging are expected over the forecast period.

Rapid increase in number of publically accessible charging stations has been witnessed in developed regions such as North America and Western Europe that suffice charging demands through high voltage and high currents. Furthermore, technology leaders are focusing on introducing electric vehicle charging stations with better charging capabilities and reduced charging time.

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One such example is Tesla Supercharging Station - an electric vehicle charging station that utilizes DC current and supplies at most 120 kW per car. The Tesla supercharger can charge a vehicle's battery up to 50% within 20 minutes.

When seen from the perspective of a product life cycle, the market for electric car charging stations is still in its growth phase and is predicted to continue to be lucrative and opportunistic because of ongoing, considerable technical research and development. Over the projected period, it is anticipated that the other businesses would follow the lead of the market's top players in focusing on rapid car charging stations.

Additionally, makers of electric vehicles are coming up with tactics to draw in a sizable client base by offering free access to charging. Over the course of the forecast period, the market for electric vehicle charging stations is anticipated to grow at a faster rate thanks to these strategies and the strong macroeconomic climate that is supporting the expansion of the electric car market.

Key Players-

Examples of some of the market participants identified in the global electric vehicle charging stations market are;

• Tesla Motors Inc.
• Delphi Automotive Plc.
• Schneider Electric
• Leviton Manufacturing Co., Inc.
• AeroVironment, Inc.
• ChargePoint Inc.
• General Electric
• SemaConnect Inc.
• Bosch Automotive Service Solutions Inc
• Clipper Creek
• EV Box
• ABB Ltd.
• Eaton Corp. Plc.

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Global Electric Vehicle Charging Stations Market: Market Dynamics

The global electric vehicle charging stations market is expected to be significantly driven by incentives and subsidies from governments that fuel sales of electric vehicles. Strategic initiatives by major players to provide free charging facility to electric vehicle owners will gain significant attraction in the market over the forecast period. Preference of home charging stations by electric vehicle owners, especially in North America and Europe is expected to significantly boost the sales of AC electric vehicle charging stations over the forecast period.

Presently, the market for electric vehicle charging stations is highly consolidated, and thus there exists huge influence of major players and hence electric vehicle charging stations lack standardization, which in turn is expected to restrain growth of the market. Moreover, higher cost of DC charging stations over the conventional electric vehicle charging stations can further hamper market growth.

Global Electric Vehicle Charging Stations Market: Market Segmentation

On the basis of installation type

• Home Charging Stations
• Public Charging Stations

On the basis of supply type

• AC Charging Stations( Level I, Level II)
• DC (Fast) Charging Stations( Level III)
• Others (Inductive)

On the basis of connector type

• CHAdeMO
• CCS
• GB/T
• Tesla Supercharger
• Others

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
• Asia-Pacific (China, India, Japan, Southeast Asia etc.)
• South America (Brazil, Argentina etc.)
• Middle East & Africa (Saudi Araia, South Africa etc.)

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Key Questions Answered in the Electric Vehicle Charging Stations Market Report

How is the Electric Vehicle Charging Stations Market expected to grow over the projected period?

What direction is the Electric Vehicle Charging Stations Market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Electric Vehicle Charging Stations Market in future?

What are the key market drivers in the Electric Vehicle Charging Stations Market?

What are significant opportunities and improvement areas for Electric Vehicle Charging Stations Market manufacturers?

What are the key developments and trends taking over the Electric Vehicle Charging Stations Market?

Which are the emerging countries that are expected to create significant growth opportunities in the Electric Vehicle Charging Stations Market?  

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