Charging Ahead : Dynamics and Trends in the Electric Vehicle Supply Equipment Market

According to a recent report published by Allied Market Research, titled, "Electric Vehicle Supply Equipment market by Application and Type: Global Opportunity Analysis and Industry Forecast, 2021-2030", the global electric vehicle supply equipment market was valued at $2.13 billion in 2020, and is projected to reach $20.84 billion by 2030, registering a CAGR of 25.9% from 2021 to 2030.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/7495

Asia-Pacific dominates the market presently, followed by Europe, North America, and LAMEA. In Asia-Pacific, China dominated the electric vehicle supply equipment market in 2020, and is expected to maintain its dominance during the forecast period. Key factors that drive the growth are growth in production of electric vehicles, rise in adoption of electric vehicle owing to government initiatives, and increase in demand for low-emission and fuel-efficient vehicles are expected to boost the growth of the electric vehicle supply equipment market. However, high cost of electric vehicles and high cost of electric vehicle charging infrastructure restrains the growth of the market. Furthermore, development of wireless charging technology and incorporation of Vehicle-To-Grid (V2g) EV Charging Stations provide lucrative growth opportunity for the players operating in the electric vehicle supply equipment market.

Electric vehicles offer multiple advantages such as low operating cost compare to conventional gasoline engine, implementation of stringent government regulations to limit environment pollution, and decreased emissions from tailpipes, which significantly boost their demand across the globe. For instance, electric vehicle sales have surged, owing to growth in China, the US, and Europe markets. The sales of electric vehicles increased by 160% in the first half of 2021 from a year earlier, to 2.6 million units, representing 26% of new sales in the global automotive market. Further, this in turn is expected to escalate the need for electric vehicle supply equipment for electric vehicles during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/electric-vehicle-supply-equipment-market/purchase-options

In addition, key players operating in the electric vehicle supply equipment market are adopting various strategic moves such as product development and product launch, to tap the business potential. For instance, ABB Ltd. has launched all-in-one electric vehicle charger, which provides the fastest charging experience on the market. The new electric vehicle charger is world's fastest charger that can deliver 100 km of range in less than three minutes. Further, the new charger is designed explicitly to charge up to four vehicles at once. Therefore, factors such as increasing charging stations in public places and highways, low operating cost, and implementation of stringent government regulations to limit environment pollution expected to spur the electric vehicles across the globe.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

In 2020, by application, the residential segment generated the highest revenue.

In 2020, by type, the level 2 segment was the highest revenue contributor.

In 2020, region-wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/7495

The key players analyzed in the electric vehicle supply equipment market include Abb Ltd, BP Chargemaster, Chargepoint Holdings, Inc, Delta Electronics, Inc, Eaton Corporation Plc, Leviton Manufacturing Co., Inc., Schneider Electric, Siemens AG, Tesla and Webasto Group

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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