Press release
Portable EV Charger Market Size By 2035 | USD 388.9 Million
Furthermore, the demand for battery electric vehicles and plug-in hybrid vehicles is expected to increase during the forecast period. In addition, the increase in the adoption of electric vehicles owing to stringent government regulations to curb environmental pollution is projected to boost the demand for portable EV chargers in Europe.
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Rising consumer demand for electric vehicles, and favorable government initiatives to promote electric vehicles are driving rapid growth in electric vehicle sales in the UK. Moreover, there is a rise in the production of electric vehicles to cater to the increasing demand of customers. Moreover, manufacturers are developing mobile charging systems to reduce the load on the grid. For instance, in February 2022, ZipCharge, a UK-based developer of portable electric vehicle chargers, announced the launch of Zipcharge Go, a portable charging unit for its electric vehicle infrastructure. The modular and portable charging solution can be used at any location. Such developments are expected to propel the growth of the market.
With the rise in fuel prices, the trend toward battery-powered vehicles is growing rapidly in Germany. The government of Germany focuses on developing charging technologies for electric vehicles and plug-in hybrids. Moreover, according to the International Council on Clean Transportation, new passenger electric vehicle registrations are expected to reach penetration of 35% and 50% by 2030 in each of the 69 German metropolitan areas and 13 nonmetropolitan areas in German states. Therefore, an increase in demand for portable electric vehicle chargers is expected to sustain this vehicle growth. In addition, the rise in popularity of electric vehicle fast-changing technology, and the growing prevalence of range anxiety among EV users are the factors driving the growth of the market in the country.
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COVID-19 Impact Analysis :
The outbreak of COVID-19 led to reduced demand for portable electric vehicle chargers due to nationwide lockdowns, restriction on mobility, and slowdown in shipments due to temporary closures of manufacturing facilities. However, post pandemic, the global portable electric vehicle charger market is expected to recover as the automotive industry recovers. With growing environmental concerns, governments, and environmental agencies across the world are enacting stringent emission norms and laws to reduce vehicle emissions and increase the adoption of electric vehicles, thereby driving the demand for portable EV chargers.
KEY FINDINGS OF THE STUDY :
By type, the DC segment is anticipated to exhibit significant growth in the future.
By application, the commercial vehicles segment is anticipated to exhibit significant growth in the future.
By region, Europe is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global portable EV charger market include JTM Power Limited, Evteq Mobility Private Limited, Heliox Energy, Guangzhou Electway Technology Co., Ltd, Blink Charging Co., Power Sonic Corporation, Shenzhen SETEC Power Co., Ltd., ZipCharge Limited, SparkCharge, and FreeWire Technologies, Inc.
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