Press release
Segment Breakdown and Primary Growth Areas in the Electric Mobility Chargers Market
Electric Mobility Chargers Market
Projected Growth and Market Size of Electric Mobility Chargers by 2030
The electric mobility chargers market is poised for rapid growth, expected to reach a valuation of $59.96 billion by 2030. This surge corresponds to an impressive compound annual growth rate (CAGR) of 26.9%. Several factors contribute to this expansion, including the widespread adoption of electric vehicles (EVs), advancements in ultra-fast charging technologies, integration of vehicle-to-grid systems, increased investments in smart grid infrastructure, and innovations in wireless charging. Key trends anticipated to influence the market during this period include the broadening of fast charging networks, proliferation of smart and connected charging devices, development of public charging facilities, incorporation of renewable energy sources, and rising demand for interoperable charging platforms.
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Leading Companies Driving the Electric Mobility Chargers Market
The market features several prominent players actively shaping its landscape. These include industry giants such as Siemens AG, Schneider Electric SE, ABB Ltd., Fortum Corporation, Bharat Electronics Limited, Leviton Manufacturing Company Inc., Exide Industries, Luminous Power Technologies, Karma Automotive LLC, Wallbox, EVBox BV, Tritium Ltd., Exicom Tele-Systems Ltd., ChargePoint Holdings Inc., Blink Charging Ltd., Volta Inc., Servotech Power Systems Ltd., Electrify America LLC, Tirex Chargers Pvt Ltd., Meras Plugins Pvt Ltd., AARGO Inc., and Fermata Energy LLC.
In a significant move in June 2024, Schneider Electric SE, a French energy giant, acquired US-based EV Connect Inc. Although financial details were not disclosed, this acquisition underscores Schneider Electric's commitment to strengthening its position in the EV charging sector and meeting rising demand for dependable charging solutions.
Emerging Trends and Technological Innovations Shaping the Market
To gain a competitive edge, key market players are focusing on pioneering technologies such as liquid-cooled charging systems. These systems utilize liquid as a cooling medium to effectively manage heat generated during electric vehicle charging, thereby improving charging efficiency and safety.
For example, in November 2023, UK-based sports car manufacturer Lotus Cars Ltd introduced Lotus' EV Charging Solutions, a new product range featuring an ultra-fast 450 kW DC charger, a modular power cabinet, and other components utilizing liquid-cooling technology. Designed for high-energy environments like motorway rest areas, the modular power cabinet delivers up to 480 kW of output and supports charging of up to four vehicles simultaneously, significantly reducing charging time.
View the full electric mobility chargers market report:
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In-Depth Segmentation Overview of the Electric Mobility Chargers Market
This report breaks down the electric mobility chargers market into several critical segments:
1) Charger Type: AC Chargers, DC Fast Chargers, Ultra-Fast Chargers
2) Power Output: Up to 7 kW, 7 kW to 22 kW, 22 kW to 50 kW, Above 50 kW
3) Installation Type: Wall-Mounted Chargers, Floor-Mounted or Pedestal Chargers, Portable Chargers
4) Application: Private Charging, Public Charging, Fleet Charging
5) End-User: Residential, Commercial, Industrial
Further detailed subcategories include:
- AC Chargers: Level 1 and Level 2 AC Chargers, Single-Phase and Three-Phase AC Chargers, Smart AC Chargers
- DC Fast Chargers: 50 kW DC Fast Chargers, 60 to 150 kW DC Fast Chargers, CCS DC Fast Chargers, CHAdeMO DC Fast Chargers, GB/T DC Fast Chargers
- Ultra-Fast Chargers: 150 to 350 kW Chargers, High-Power Liquid-Cooled Chargers, Multi-Output Ultra-Fast Chargers, Megawatt-Class Charging Systems
These diverse segments highlight the broad spectrum of technologies and applications that are driving the dynamic growth of the electric mobility chargers market.
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