Global Electric Vehicle Charging Station Market, By Type (Plug-in Charging Station (Level 1 Charging Station, Level 2 Charging Station, and Level 3 Charging Station), Wireless Charging Station), By Component (Hardware and Software), By Vehicle Type (Electric Cars [Battery Electric Cars, Hybrid Electric Cars, Plug-in Hybrid Electric Cars] Others Vehicles) By Connector Type (CCS, CHAdeMO, GB/T, Tesla Supercharger, Type 1 (SAE J1772), and Type 2 (IEC 62196)), By Installation Type (Portable, Fixed), By End-User (commercial (On-Road, Public Parking, and Others), non-commercial (residential and non-residential)) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global electric vehicle charging stations market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ 110.4 Bn by 2028 with a significant CAGR of 33.4%.
The massively rising distress and concern towards depleting environmental conditions, including greenhouse effects, carbon dioxide emissions, and brisk exhaustion of fossil fuels effectively boost up the need to develop and take up fresh and eco-friendly tenable substitutes for the Internal Combustion Engine (ICE) driven vehicles. This is why, over the past decade, Electric vehicles have become in some way or other extensive, primarily owing to their insignificant flue gas emissions and minor dependency on oil.
As a matter of fact, as per estimates, by the year 2022, Electric vehicles will be over 35 million across the world. Thus, the growing trend and demand of electric vehicles all around the world is acting as a major factor for the growth of the global electric vehicle charging stations market in the forthcoming years.
On top of that, the regulatory authorities and governments are further playing a positive role in accelerating the demand of electric vehicles, by offering huge incentives, tax exemptions, rebates, fixed quotas and subsidies for electric vehicles due to the growing environmental concerns. Owing to which, the electric vehicles market is estimated to witness heavy production and sales in the years to come. Attributing to all such factors, the global electric vehicle charging stations market is further projected to witness major breakthroughs in the years to come.
However, the Covid-19 outbreak is estimated to slow down the growth of the global electric vehicle charging stations market in the forecast period, owing to the entire transportation failure and the massive negative impact on the global economy. Such factors are likely to hold back the growth of the global electric vehicle charging station market to the limits in the coming years.
MMC Study identifies some of the key participating players in the electric vehicle charging station market globally are ABB, ChargePoint, Inc., Tesla, Inc., Schneider Electric SE, Siemens AG, Efacec, Delta Electronics, Inc., Leviton Manufacturing Co., Inc., EVBox, Blink Charging, Alfen, The New Motion B.V., Star Charge, Eaton Corporation Inc, SemaConnect, Webasto, Robert Bosch GmbH, and ClipperCreek Inc., among others.
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