Global Electric Vehicle Charging Market
Added: (Wed Dec 19 2018)
Pressbox (Press Release) -
Global Electric Vehicle Charging Market was valued US$700Mn in 2017 and is expected to reach US$1.2Bn by 2026 at a CAGR of about 6.97% during a forecast.
Global Electric Vehicle Charging Market
Global Electric Vehicle Charging Market is segmented into by product type, by mode of charging, By Charging Voltage Level and by region. Based on product type, Electric Vehicle Charging Market is classified into Home Charging Systems & Commercial Charging Stations. In a mode of charging type are divided into Plug-in Charging Systems & Wireless Charging Systems. In Charging Voltage Level are fragmented into Level 1 (0V-120V), Level 2 (121V-240V) & Level 3 (241V and above) Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Global Industry Analysis and forecast 2018-2026.
Driving factors for the electric vehicle charging market are increasing in electronic vehicle production around the global, rise in demand for eco-friendly vehicle, technological advancements aimed at developing affordable charging solutions, increase in sales of electric vehicle and Leading automakers are observed investing heavily in promoting EV charging infrastructure will boost the market in electric vehicle charging market.
Sustainable business and safety concerns can hamper the growth of Electric Vehicle Charging Market.
In terms of product type, commercial charging stations segment shares the highest market during the forecast period. Commercial charging stations are in increased deployment of charging stations at public places such as shopping malls, commercial buildings, airports, and restaurants. Cost of installation is very low for the commercial sector can boom the demand in a market.
In terms of Charging Voltage Level, Level 2 (121V-240V) segment shares the fastest growing market during the forecast period. Level 2 chargers are the most common to be available at public places. Can find easily at places like offices, grocery stores, and parking garages. Public Level 2 chargers have a standard EV connection plug that fits all current vehicles which have high demand in the market.
Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economies and a strong presence of manufacturers in Japan, China, and India will boost the market in this region. Rise in the sales of EV in the passenger’s car segment and disposal income will affect more in this region. Japan has the highest penetration of fast electric vehicle charging stations.