According to Goldstein Research, “Rising environmental concerns and growing deployment of electric vehicles to curb vehicular emission is resulting in significant development of charging infrastructure across the globe.” Charging infrastructure market is majorly growing in regions where adoption rate of electric vehicle is rising such as Europe, North America and Japan.
Electric Vehicle Charging Station Market Forecast
The electric vehicle charging station market is expected to reach USD 12.9 Billion by the end of the forecast period i.e. 2024. Further the market is anticipated to expand at a compound annual growth rate of 25.7% over the forecast period i.e. 2016-2024.
Asia-Pacific is the largest region for electric vehicle charging station market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific electric vehicle charging station market valued USD 0.720 billion in 2016 and is estimated to reach USD 4.2 billion by 2024. China is expected to dominate the electric vehicle charging station market followed by Japan due to large deployment of electric vehicles in these countries. Rising environmental concerns and large deployment of electric vehicles is accelerating Asia-Pacific electric vehicle charging station market.
The global electric vehicle charging station market is segmented based on charging station type, by charging connectors type and by charging station location. Station type is further bifurcated into AC charging station, DC charging station and inductive charging station. AC charging stations accounted for the highest market share in global electric vehicle charging station market with more than 45% share in 2016. AC charging stations are the dominating plug-in vehicle charging type stations and are expected to dominate the market over the forecast period.
Government Initiatives: Major Breakthrough
With growing deployment of electric vehicles governments across different geographies are focusing on development of electric vehicle charging infrastructure in order support widespread electric vehicle adoption. For instance in China and Japan governments are providing financial funding to municipal bodies to build charging infrastructures. China surpassed the number of 1.5 million charging stations across the country and number of charging stations in Japan has surpassed number of oil pumps in the country.
Electric vehicle charging station market report by Goldstein Research contains detailed overview of the global market in terms of market segmentation by charging station type, by charging connectors type and by charging station location.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Electric Vehicle Charging Station Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as ABB Ltd., AeroVironment Inc., ChargePoint Inc., Delphi Automotive Plc., Eaton Corp. Plc., Chargemaster Plc, GE Company, Pod Point Ltd., Schneider Electric SE, SemaConnect Inc., Siemens AG, Tesla Motors Inc., Clipper Creek Inc., Leviton, Evatran, Addnergie, Bosch etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global electric vehicle charging station market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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