AC Charger for EVs Market Research Report Covers Future, Past and Current Trends (2023-2030)

AC Charger for EVs Market size is estimated to reach at USD 362.47 Bn by 2030, The rising adoption of EVs in the urban and semi urban areas will be the key factor for growth of the market.

According to the insights gained by SNS Insider, The AC charger for Electric Vehicles (EVs) market has experienced remarkable growth in recent years, driven by the increasing global shift towards sustainable transportation. With an ever-expanding infrastructure of charging stations, this market is poised to revolutionize the way we power our vehicles.

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Market Scope:

As governments, industries, and consumers unite in their commitment to reducing carbon emissions, the demand for efficient and accessible AC chargers has never been higher. This dynamic market not only offers a cleaner and more sustainable mode of transport but also presents a significant opportunity for innovation, as manufacturers strive to create faster, smarter, and more versatile charging solutions. The future of the AC charger for EVs market promises to be electrifying, bringing us one step closer to a greener, cleaner, and more sustainable world.

Opportunity Analysis:

The electric vehicle (EV) landscape is a dynamic ecosystem, where innovation sparks like electric arcs, igniting a green revolution. With each passing day, the horizons of EV technology expand, bringing us closer to a sustainable and electrifying future. The roads are now adorned with sleek electric cars, silently gliding as if paving the way for a quieter, cleaner tomorrow. Behind the scenes, engineers, scientists, and visionaries collaborate to push the boundaries of battery efficiency, charging infrastructure, and renewable energy integration, ensuring that the EV landscape is not just a means of transportation but a catalyst for a planet-saving metamorphosis.

Key Companies

TE Connectivity (Switzerland), BESEN Group (China), Aptiv (Ireland), Phoenix Contact (Germany), Schunk Group, ABB, Siemens, Bombardier Inc., Kempower OY, Tesla, Proterra, Chargepoint, Inc., Leoni AG (Germany), Shijiazhuang Tonhe Electronics Technologies Co, and Coroplast (Italy), EFACEC, and Kehua Hengsheng Co., Ltd.

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Segmentation Analysis:

Electric Vehicle (EV) chargers can be segmented into various types based on their charging capabilities and usage scenarios. These segments include Level 1, Level 2, and DC Fast Chargers. Level 1 chargers are the most basic, using a standard household outlet and providing a slow charging rate, typically suitable for overnight charging. Level 2 chargers offer faster charging, often found in homes and public charging stations, and are capable of charging an EV in a few hours. DC Fast Chargers, on the other hand, are designed for quick charging, with high power outputs, making them ideal for long-distance travel and available primarily at highway rest stops and some urban locations.

Regional Analysis

The Electric Vehicle (EV) charging infrastructure in the Asia-Pacific (APAC) region exhibits a diverse landscape with various charger types deployed across different countries. In this region, we can observe a proliferation of both standard AC chargers, suitable for home and workplace charging, as well as DC fast chargers, designed for rapid charging in public areas. While countries like China have made significant strides in deploying a vast network of EV charging stations, others in the APAC region are gradually catching up. The increase in investments for the EV charging stations by Chinese government was noted around 15%.  

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Key Takeaways  

Governments and private companies were investing in charging infrastructure to support EV growth. This included initiatives to build a comprehensive charging network and incentives for charger installation.
Smart Charging: Many AC chargers were equipped with smart features, such as remote monitoring, mobile apps, and load management to optimize energy consumption and facilitate billing and payment.
The anxiety range is the major concerns for the buyers, the companies should try to focus on that as it can affect the future sales. Thought there are initiatives taken by the manufacturers which will surely need a vertical upstream investment.   

Recent Industry Developments:

ABB: ABB has launched a new AC charger that is compatible with a wider range of electric vehicles. The new charger can charge vehicles with a voltage of 330V, 400V, or 480V, and can provide up to 30kW of power.

Siemens: Siemens has launched a new AC charger that is more efficient than previous models. The new charger can achieve an efficiency of up to 94%, which means that it loses less energy during the charging process.  

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