Press release
Electric Car Charger Industry Skyrockets, Reaching $23.62 Billion by 2028, Driven by Environmental Consciousness and EV Adoption, with a Robust CAGR of 33.0%
Electric Car Charger Industry
Environmental Awareness Drives Market Growth:
1. Increasing Demand for Electric Vehicles:
The heightened awareness of environmental issues and a global shift towards electrified transportation are propelling the electric car charger market. The growing preference for electric vehicles, driven by a commitment to reduce pollution emissions from traditional fossil fuel vehicles, is a significant factor. The Global EV Outlook 2022 report highlights a doubling of electric vehicle sales in 2021, reaching an unprecedented 6.6 million units. As the sales of electric vehicles continue to soar, the demand for electric car chargers is set to surge in tandem.
Electric Bikes and E-Mountain Bikes Transforming the Market:
2. Rise of E-Bikes and E-Mountain Bikes:
The burgeoning trend of electric bikes (e-bikes) and electric mountain bikes (e-mountain bikes) is poised to boost the electric car charger market. E-bikes, equipped with electric motors, and e-mountain bikes designed for off-road terrains are becoming increasingly popular. As the market witnesses a surge in these electric two-wheelers, the need for accessible charging infrastructure is growing. This trend is contributing to the expansion of charging stations, accommodating both small-scale and electric car-compatible solutions. For instance, the German Bicycle Industry Association reported a substantial 56% increase in eBike exports in 2023, emphasizing the growing influence of e-bikes and e-mountain bikes on the electric car charger market.
Explore the Global Electric Car Charger Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3957&type=smp
Key Market Players:
Leading companies in the electric car charger market include Leviton Manufacturing Co. Inc., ABB Group, Siemens AG, and ChargePoint Inc. These key players play a pivotal role in meeting the escalating demand for electric car chargers while ensuring technological advancements and service reliability.
Innovation and Product Diversification:
1. Solar-Powered Electric Car Chargers:
Major companies in the electric car charger market are innovating and diversifying their product offerings to cater to a larger customer base and increase revenue. The introduction of solar-powered electric car chargers, harnessing energy from the sun through solar panels, exemplifies this trend. For instance, Sunrun Inc., a US-based energy services provider, launched a Level 2 EV Charger in August 2022. This solar-powered charger aligns with the rising demand for electric vehicles in the United States, offering energy self-sufficiency, cost-efficiency, and enhanced energy reliability.
2. All-in-One Electric Vehicle Chargers:
The market is witnessing a shift towards all-in-one electric vehicle chargers, providing comprehensive and versatile solutions for EV charging. ABB Ltd., a Switzerland-based automation company, launched Terra 360 in September 2021. This modular charger can charge up to four vehicles simultaneously while dynamically distributing power. The Terra 360's innovative features, including a lighting system, display of EV battery State of Charge (SoC), and ergonomic cable management, showcase the industry's commitment to providing efficient and user-friendly charging solutions.
Regional Dynamics and Market Segmentation:
Asia-Pacific dominated the electric car charger market in 2023, with regions covered including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The electric car charger market covered in this report is segmented -
1) By Type: Slow AC, Fast AC, Fast DC
2) By Charging Type: On-board Charger, Off-board Charger
3) By Application: Home, Office, Commercial
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/electric-car-charger-global-market-report
Electric Car Charger Global Market Report 2024 from TBRC covers the following information:
Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Electric Car Charger Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on electric car charger market size, electric car charger market drivers and trends, electric car charger market major players, electric car charger market competitors' revenues, electric car charger market positioning, and electric car charger market growth across geographies. The electric car charger market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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