Press release
Electric Car Charger Market Size Worth USD 44.80 billion by 2030 at 35.3% CAGR - Report by SNS Insider
Electric Car Charger Market Size, Share 2023
According to SNS Insider, the Electric Car Charger Market reached a valuation of USD 3.99 billion in 2022. It is projected to reach USD 44.80 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 35.3% during the forecast period spanning from 2023 to 2030.
Electric car chargers are devices designed to supply electricity to electric vehicles (EVs) for the purpose of charging their batteries. They serve as the primary infrastructure for EV charging, enabling owners to recharge their vehicles conveniently at home, workplaces, public parking lots, and dedicated charging stations.
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Key Players Covered in Electric Car Charger market report are:
Leviton Manufacturing Co. Inc.,
ABB Ltd.,
Siemens AG,
Schneider Electric Corp,
AeroVironment Inc.,
Eaton,
Evatran LLC,
Tesla Motors Inc.,
Delphi Automotive Plc.,
Bosch Automotive Service Solutions Inc.,
Elektromotive Ltd.,
Hubbell Device-Kellems,
Legrand,
TurboDock,
GE,
Chargepoint,
Blink.
Market Analysis
One of the key factors driving the future prospects of the electric car charger market is the growing environmental consciousness and the need to reduce carbon emissions. Governments and regulatory bodies across the globe are implementing stringent emission standards and promoting the adoption of electric vehicles as a means to achieve sustainability goals. This has resulted in a surge in EV sales, which in turn fuels the demand for electric car chargers.
Impact of Recession
An economic recession can pose challenges for the electric car charger market, including reduced consumer demand, delayed infrastructure investments, and potential disruptions to manufacturers and suppliers. However, the long-term growth prospects for the industry remain positive, driven by sustainability initiatives and increasing EV adoption.
Segmentation Analysis
As the electric vehicle market continues its upward trajectory, the BEV and commercial segments are set to dominate the electric car charger market. The increasing adoption of BEVs and the transition of commercial fleets to electric mobility are driving the demand for chargers specifically designed for these segments. To cater to the unique charging requirements of BEVs and commercial vehicles, a diverse charging infrastructure must be established, supported by collaborative efforts from industry stakeholders. The dominance of these segments not only presents market opportunities but also underscores the need for interoperability and standardization in the electric car charger ecosystem.
Electric Car Charger Market Segmentation as Follows:
By Type
Slow AC
Fast AC
Fast DC
By Vehicle Type
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
By Charging Infrastructure Type
CCS
CHADEMO
Normal Charge
Tesla Super Charger
Type 2 (IEC 621196)
By Application
Home
Office
Commercial
Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other
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Regional Status & Analysis
The Asia Pacific region is at the forefront of the electric car charger market, driven by government support, robust infrastructure development, a burgeoning electric vehicle market, and a focus on innovation. As more countries in the region embrace electric mobility, the demand for electric car chargers will continue to surge. APAC's dominance in this sector not only benefits the local economy but also contributes significantly to the global transition towards sustainable transportation. With its strong market presence, the Asia Pacific region is set to play a pivotal role in shaping the future of electric vehicle charging worldwide.
Conclusion
The market is poised for a promising future. The increasing adoption of electric vehicles, along with technological advancements, infrastructure development, and the integration of smart charging and renewable energy solutions, are driving market growth. Collaborations among key stakeholders further enhance the prospects of the market.
Frequently Asked Questions About this Research Report
What is the projected outlook for electric car charger market growth?
The market is projected to surpass a value of USD 44.80 billion by the year 2030.
What are the major factors influencing the electric car charger market?
The market is witnessing increased collaboration among various stakeholders, including automakers, utility companies, and charging station operators.
Who are the leading players in the electric car charger market?
Leviton Manufacturing Co. Inc., AeroVironment Inc., Eaton, ABB Ltd., Siemens AG, Schneider Electric Corp, Evatran LLC, Tesla Motors Inc., Hubbell Device-Kellems, Legrand, TurboDock, GE.
Table of Content - Analysis of Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Electric Car Charger Market Segmentation, By Type
9. Electric Car Charger Market Segmentation, By Vehicle Type
10. Electric Car Charger Market Segmentation, By Charging Infrastructure Type
11. Electric Car Charger Market Segmentation, By Application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
Continued…
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Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
About Us:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
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