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Portable EV Charger Market to Surge to $388.9 Million by 2035: Allied Market Research Unveils Key Growth Drivers
Portable EV Charger Market
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Prime determinants of growth
The rise in the sale of electric vehicles as well as the lack of standardization of EV charging and the greater need for convenience drives the growth of the global portable EV charger market. Limitations associated with the existing electric vehicle charging infrastructure also boost the growth of the portable EV charger market. Greater adoption of portable EV chargers is expected during the forecast period to address range anxiety associated with electric vehicles among consumers. However, the superior cost of portable EV chargers is anticipated to restrict the market growth during the forecast period. Moreover, greater demand for mobile charging as a service and the rise in adoption of shared mobility are expected to present new opportunities in the coming years. Market players are increasingly investing in the development of advanced wireless, bi-directional fast chargers to cater to the growing demand for portable EV chargers during the forecast period.
Leading Market Players: -
JTM Power Limited
Evteq Mobility Private Limited
Heliox Energy
Guangzhou Electway Technology Co., Ltd
Blink Charging Co.
Power-Sonic Corporation
Shenzhen SETEC Power Co., Ltd.
ZipCharge Limited
SparkCharge
FreeWire Technologies, Inc
Rising consumer demand for electric vehicles, and favorable government initiatives to promote electric vehicles are driving rapid growth in electric vehicle sales in the UK. Moreover, there is a rise in the production of electric vehicles to cater to the increasing demand of customers. Moreover, manufacturers are developing mobile charging systems to reduce the load on the grid. For instance, in February 2022, ZipCharge, a UK-based developer of portable electric vehicle chargers, announced the launch of Zipcharge Go, a portable charging unit for its electric vehicle infrastructure. The modular and portable charging solution can be used at any location. Such developments are expected to propel the growth of the market.
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Many manufacturers deliver membership-based services that provide roadside assistance and mobile charging solutions to customers. Moreover, numerous electric vehicles charging solution providers use portable electric vehicle chargers for commercial purposes to offer a seamless charging experience to its customers. For instance, Sparkcharge provides Mobile-Charging-as-a-Service (M-CaaS) with portable electric vehicle chargers.
On the basis of type, the global portable EV charger market has been segmented into AC and DC. The DC segment is expected to experience significant growth during the forecast period. DC fast charging is essential for high mileage, high fleet, and heavy vehicles. The rise in the need for portable anytime/anyplace charging drives the growth of DC chargers in the market. In August 2019, Sparkcharge launched a portable and scalable DC fast charging unit. The company states that the portable charging unit can charge an EV at a rate of one mile per minute of charging. Moreover, the increase in demand for fast charging among consumers is expected to boost the growth of the segment in the market.
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KEY FINDINGS OF THE STUDY
By type, the DC segment is anticipated to exhibit significant growth in the future.
By application, the commercial vehicles segment is anticipated to exhibit significant growth in the future.
By region, Europe is anticipated to register the highest CAGR during the forecast period.
About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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