Press release
Electric Vehicle Charging Stations Equipment Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Electric Vehicle Charging Stations Equipment
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How Large Will the Electric Vehicle Charging Stations Equipment Market Size By 2025?_x000D_
In recent times, there has been a substantial expansion in the market size for equipment used in electric vehicle charging stations. The projections show an increase from $259.02 billion in 2024 to $351.76 billion in 2025, with a compound annual growth rate (CAGR) of 35.8%. This significant growth during the historic period can be credited to factors such as increased adoption of electric vehicles, concerns about the environment, governmental incentives, breakthroughs in technology, and measures to reduce 'range anxiety'._x000D_
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How Big Is the Electric Vehicle Charging Stations Equipment Market Size Expected to Grow by 2029?_x000D_
It is projected that the electric vehicle charging stations equipment market will experience significant growth in the coming years, reaching a size of $1041.46 billion in 2029 with a compound annual growth rate (CAGR) of 31.2%. The growth during this prediction period can be ascribed to factors such as the burgeoning EV market, governmental assistance, transition to green energy, urbanization, as well as population density. The key trends to watch out for during this period are ultra-fast charging, EV charging applications, wireless charging, along with v2g technology._x000D_
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Which Key Market Drivers Powering Electric Vehicle Charging Stations Equipment Market Expansion and Growth?_x000D_
The surge in the electric vehicle charging stations equipment market is largely influenced by local and international lawmaking policies that support the uptake of electric vehicles (EVs). Drivers of the growth of this market include incentive schemes intended to allure investors to purchase electric vehicles and to set up EV charging stations. These measures serve to revitalize the electric vehicle charging stations equipment market, thus further propelling its growth. For instance, a beneficial program executed by the German government offers a direct rebate of $4,520 to those buying EVs. Plus, in Norway, the government funding covers the installation of charging stations for every 50 km distance. As a result, this boosts the EV charging stations market, resulting in an upward trend in the electric vehicle charging stations equipment market._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Electric Vehicle Charging Stations Equipment Market?_x000D_
To broaden their market influence, key businesses in the electric vehicle charging station apparatus industry are shifting their focus to partnerships and the introduction of cutting-edge products such as the fastest EV charger. An EV charger is a device created to refill electric vehicle batteries by transferring power from a designated source, and they can range from basic home-based units to sophisticated fast-charging systems deployed in public places. All these aids in the efficient utilization of electric vehicles. A recent example is seen in May 2022 when ABB Ltd., an automation manufacturing firm based in Switzerland, teamed up with Shell Inc., a US-based oil and gas company, to unveil the Terra 360. The Terra 360, recognized globally as the quickest all-in-one EV charger, is poised to revolutionize electric vehicle charging in Germany. A partnership between ABB E-mobility and Shell will see over 200 units installed nationwide over the next year to increase charging availability and speed for Germany's 1.7 million EV users. The Terra 360 stands out with its extraordinary performance, capable of delivering 100 kilometers of range in less than three minutes._x000D_
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What Are the Emerging Segments in the Electric Vehicle Charging Stations Equipment Market?_x000D_
The electric vehicle charging stations equipment market covered in this report is segmented - _x000D_
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1) By Type: AC Charging, DC Charging, Inductive Charging _x000D_
2) By Vehicle Type: Battery Electric Vehicles (BEV), Plug-In Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV) _x000D_
3) By Charging Type: Level One Charging (120 Volts), Level Two Charging (240 Volts), DC Fast Charging (480 Volts)_x000D_
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Subsegments:_x000D_
1) By AC Charging: Level 1 AC Charging, Level 2 AC Charging _x000D_
2) By DC Charging: DC Fast Charging (DCFC), Ultra-Fast Charging _x000D_
3) By Inductive Charging: Static Inductive Charging, Dynamic Inductive Charging_x000D_
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Who Are the Global Leaders in the Electric Vehicle Charging Stations Equipment Market?_x000D_
Major companies operating in the electric vehicle charging stations equipment market include ABB Ltd., Siemens AG, The New Motion BV, Tesla Motors Inc., ClipperCreek Inc., DBT SA, Chargemaster Plc, Engie SA, Fortum Oyj, Leviton Manufacturing Co, Qualcomm Inc., Robert Bosch GmbH, Schneider Electric SE, AeroVironment Inc., National Thermal Power Corporation, Mahindra Reva Electric Vehicles Pvt Ltd., Tata Power Ltd., ACME Group, ChargePoint Inc., BP plc, Shell plc, Webasto SE, Hyundai Motor Company, RWE AG, Mercedes-Benz Group AG, EVBox, Southern California Edison, San Diego Gas and Electric Co, PG&E Corporation, Blink Charging Co_x000D_
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Which are the Top Profitable Regional Markets for the Electric Vehicle Charging Stations Equipment Industry?_x000D_
Asia Pacific was the largest region in the electric vehicle charging stations equipment market in 2023. The regions covered in the electric vehicle charging stations equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning._x000D_
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks._x000D_
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."
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