EV Charging Stations Market Size – USD 6.72 Billion in 2021, Market Growth – at a CAGR of 38.7%, Market Trends – Decrease in price of lithium-ion batteries
VANCOUVER, BC, CANADA, April 14, 2022 /EINPresswire.com/ — The Global EV charging stations market size reached USD 6.72 Billion in 2021 and is expected to register a revenue CAGR of 38.7% during the forecast period, according to latest analysis by Emergen Research. Increasing purchase of electronic vehicles, government policies, and financing for expansion of electric vehicle charging stations are expected to support market revenue growth between 2022 and 2030. Demand for electric vehicle charging stations is continuously rising due to increased adoption of electric cars across the globe. Rising Carbon Dioxide (CO2) emissions and other hazardous pollutants due to petrol and diesel transportation led people to shift to electric vehicle, which is expected to drive revenue growth during the forecast period
The Global EV Charging Stations market has been categorized based on the product type, application, and region. Our expert analysts undertake a thorough assessment of all of the segments included in the report and analyze them based on their market share, revenue, market growth rate, and other vital factors. The segmentation allows the interested parties to determine sectors in the global EV Charging Stations market with high growth prospects and understand the growth strategies adopted by leading segments during the forecast period.
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The competitive landscape is broadly evaluated alongside the company profiles of key players engaged in the EV Charging Stations market are ABB Ltd., Tesla Inc., Chargepoint, Inc., BP Pulse, Schneider Electric SE, Semaconnect Network, EVGO Services LLC, EVBox Group, Eaton Corporation PLC, Shell PLC, Blink Charging Co., Siemens AG, Webasto SE, and Hyundai Motor Company.
Based on the types, the EV Charging Stations market has been further classified based on geography, application and consumption capability. On the basis of the product application, the industry is bifurcated taking into consideration those in demand and are an outcome of technology advancement. Region-wise, the performance of the industry along with the prominent vendors operating in the geography also illuminates stakeholders, business owners, and field marketing, executives. The different facets of the business based on parameters including new launches, acquisition and mergers and new entrants are discussed extensively during the study.
Key Takeaways From Report:
Level 2 segment accounted for largest market share in electric vehicle charging stations market in 2021, as it is less costly compared to level 3 charging and runs at higher input voltage than level 1 charging. In addition, level 2 charging stations are universally compatible with EVs equipped with industry standards, which is driving revenue growth of this segment.
Combined Charging System (CCS) segment is expected to expand at a significantly rapid CAGR during the forecast period due to rising adoption of CCS connections by leading electric vehicle manufacturers. CCS is a combination charging system for charging electric cars using direct current (DC) and alternating current (AC), which is increasing its adoption.
Asia Pacific is expected to account for largest revenue share due to increasing government initiatives taken by countries such as China, Japan, South Korea, and India for expansion of electric vehicle charging stations all over the region. In addition, reducing air pollution and increasing energy security and electrification is also expected to drive revenue growth in this region during the forecast period.
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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Emergen Research has segmented the global EV Charging Stations market on the basis of product, end-use, and region.
Charging level Outlook (Revenue, USD Billion; 2019–2030)
Level 1 (120V)
Level 2 (208V-240V)
Level 3 (Up to 600V)
Charging Infrastructure Outlook (Revenue, USD Billion; 2019–2030)
Combines Charging Station (CCS)
Vehicle Type Outlook (Revenue, USD Billion; 2019–2030)
Plug-In Hybrid Electric Vehicle (PHEV)
EV Passenger Cars
Heavy Commercial Vehicles
Light Commercial Vehicles
Installation Type Outlook (Revenue, USD Billion; 2019–2030)
Application Type Outlook (Revenue, USD Billion; 2019–2030)
Regional Outlook (Revenue, USD Billion; 2019–2030)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Besides exploring the company profiles of prominent market leaders, the research gather and analyses raw data on the regulatory framework, cost structure, import and export status, supply chain management and supply chain management expected to shape the trajectory of the business landscape. The researchers behind the study have further leveraged the industry-leading assessment tools to gauge the growing level of competition, recent acquisition and mergers, product launches and new entrants.
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