- 4 November 2019 21:39
Electric Vehicle Charging Stations Market Key Factors and Opportunities
Key factors driving the growth of the electric vehicle charging stations market include government funding, subsidies, and incentives, growing demand for electric vehicles, growing concern toward environmental pollution, and heavy investment from automakers in EVs. Vehicle-to-Gird (V2G) EV charging stations and charging stations powered by solar panels are the key opportunities for the players in the electric vehicle charging stations market.
The growing demand for energy-efficient automobiles is one of the critical factors that will drive electric vehicle charging station market growth. The demand for energy-efficient automobiles such as EVs is growing rapidly owing to the increasing focus on reducing environmental pollution caused by gasoline and petrol. Additionally, the growing price of crude oil and the falling price of batteries will also boost the demand for EVs. Countries such as China and the US are the key adopters of electric vehicles. With the introduction of stringent emission regulations, the demand for electric vehicles will increase in the coming years. This will subsequently augment the need for electric vehicle charging stations, driving market growth at a CAGR of over 33%.
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Some of the major players in the global Electric Vehicle Charging Stations market are, Mojo Mobility, GENERAL ELECTRIC, Wi Tricity Corporation, ChargePoint, and EVgo ServicesLLC.
Tesla is engaged in designing and developing electric cars and DC fast charging stations for its customers. Tesla is recognized to revolutionize the electro mobility ecosystem by manufacturing all electric production cars. The company's cutting-edge battery technology and electric powertrain, coupled with a rapidly growing fast charging network, has contributed in becoming one of the leading players in the electric vehicle charging stations market.
The global Electric Vehicle Charging Stations market is segmented into type of charger, application, power output, supplier type, and region. Based on Type of charger, the global Electric Vehicle Charging Station market is segmented into AC charging station and DC charging station. DC charging station dominated the global Electric Vehicle Charging Station and it is further expected to continue its dominance during the forecast period as well. Based on Type of application, the global Electric Vehicle Charging Station market is segregated into private and public. Public charging station emerged as a global leader as of 2018 with majority of the global market share. Based on Type of power output, the global Electric Vehicle Charging Station market is segregated into <11 kW, 11kW-50 kW, and >50 kW. Market segmentation based on supplier type, the global Electric Vehicle Charging Station market is segregated into OE Charging Station and Private Charging Station.
Geographically, the Electric Vehicle Charging Stations market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
Key highlights of the global electric vehicle (EV) charging station market for the forecast years 2019-2026:
- CAGR of the market during the forecast period 2019-2026 - Detailed information on factors that will accelerate the growth of the electric vehicle charging station market during the next seven years - Precise estimation of the global electric vehicle charging station market size and its contribution to the parent market - Accurate predictions on upcoming trends and changes in consumer behavior - The growth of the electric vehicle charging station market industry across various geographies such as the Americas, APAC, and EMEA - A thorough analysis of the market’s competitive landscape and detailed information on several vendors - Comprehensive detail on factors that will challenge the growth of electric vehicle charging station market companies