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Electric Car Charger Global Market Report 2024 by The Business Research Company | Leviton Manufacturing Co. Inc, ABB Group, Siemens AG, Schneider Electric Corp, AeroVironment Inc., Blink Charging Co., Bosch Automotive Service Solutions Inc, ChargePoint In
Electric Car Charger Market Trends
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The electric car charger market size is expected to see exponential growth in the next few years. It will grow to $23.62 billion in 2028 at a compound annual growth rate (CAGR) of 33.0%. The growth in the forecast period can be attributed to expansion of ev charging networks, standardization of charging connectors, international market growth, global ev adoption, and growing public and private charging stations. Major trends in the forecast period include fast and ultra-fast charging solutions, wireless charging technologies, ev battery advancements, smart grid integration and demand response, and autonomous and self-parking charging stations.
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Electric Car Charger Market Major Segments
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
Key Driver - Environmental Awareness Driving The Electric Car Charger Market
The increasing demand for electric vehicles owing to growing environmental awareness is expected to drive the growth of the electric car chargers market over the coming years. The world is moving towards electrified transportation to reduce the emissions of pollution from non-renewable fossil fuel vehicles and to offer transport as a substitute for costly fuel. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing sales of electric vehicles drive the growth of the electric car chargers market.
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Prominent Trend - Innovation And Product Diversification In The Electric Car Charger Market
Major companies operating in the electric car charger market are developing new products such as solar-powered electric car chargers to meet larger customer bases, more sales, and increase revenue. A solar-powered electric car charger is a device that harnesses energy from the sun through solar panels to generate electricity, which is then used to charge electric vehicles (EVs). For instance, in August 2022, Sunrun Inc., a US-based energy services provider, launched Level 2 EV Charger. The latest addition to the company's portfolio enhances Sunrun's range of home energy management solutions, aligning with the increasing demand for electric vehicles across the United States. Sunrun's introduction of the new EV charger underscores its commitment to providing energy self-sufficiency, cost-efficiency, and energy reliability for all Americans. This innovative EV charger, operating at a 40-amp Level 2, offers a practical solution for overnight EV charging and is universally compatible with all EV models. Furthermore, it boasts intelligent features that empower customers to customize charger settings and manage the charging process at their convenience.
Electric Car Charger Market Players
Major companies operating in the electric car charger market include Leviton Manufacturing Co. Inc, ABB Group, Siemens AG, Schneider Electric Corp, AeroVironment Inc., Blink Charging Co., Bosch Automotive Service Solutions Inc, ChargePoint Inc., Delphi Automotive PLC., Eaton Corporation, Elektromotive Ltd., Evatran LLC, General Electric Company, Hubbell Device-Kellems, Legrand India Pvt. Ltd., Tesla Motors Inc., TurboDock, Alfen N.V., ClipperCreek Inc., Delta Electronics Inc., Efacec Electric Mobility S.A., EV Safe Charge Inc., EV Solutions Inc., EVBox Group, EVgo Services LLC, EVoCharge, EVSE LLC, JuiceBar EV Inc., NewMotion B.V., Tritium Pty Ltd., Wallbox Chargers S.L., Webasto Charging Systems Inc.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the electric car chargers market in 2023. The regions covered in the electric car charger market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Car Charger Market Report Structure
3. Electric Car Charger Market Trends And Strategies
4. Electric Car Charger Market - Macro Economic Scenario
5. Electric Car Charger Market Size And Growth
…..
27. Electric Car Charger Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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