Base Year: 2018
Estimated Year: 2019
Forecast Period: 2019 to 2026
Description:
According to the report, the global Electric Vehicle Ac Charging Station market is valued at approximately USD xxxx million in 2019 and is expected to generate revenue of around USD xxxx million by 2026, growing at a CAGR of roughly xxxx% from 2019 and 2026.
The growing concern of people towards environmental pollution along with low maintenance and operation cost features are attracting more consumers towards electric vehicles, which in turn is boosting the demand for electric vehicle charging stations. Furthermore, government funding and heavy investment from automakers of EVs are factors that also stimulating market growth. However, the lack of a sustainable business and financing model are factors that expected to impede market growth.
The electric vehicle charging station charges the battery of an electric vehicle by connecting it to an electric source. Electric vehicle charging stations come in various types depending on various charging speeds and standards. Some stations have several advanced features such as network connectivity, smart metering along with basic components. These chargers will maintain necessary communication with the control system of the vehicle and provide charging for the safe conduct of the operator and vehicle. It is in fact interface, which allows safe and controlled interconnection of the onboard charger with the power network and transfer up to 22kW of power per hour which is then transformed into direct current and sent to the battery. The performance of onboard charger is limiting however how much power it could actually use, regardless of the performance of the charger.
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Competitive Insights
Major manufacturers profiled in the analysis report include Charge Point, Nissan, Mitsubishi, Honda, Toyota, XJ Electric Co.,Ltd, NARI Technology Co.,Ltd, SHEN ZHEN AUTO ELECTRIC POWER PLANT CO.,LTD, HOPE NEW ENERGY TECHNOLOGY INC, WAN MA GROUP, Shaihai Potevio Energy Science and Technology Co.,Ltd, ABB Ltd, AeroVironment Inc, Elektromotive Limited, GE Company, and others.
Regional Insights
APAC dominates the Electric Vehicle AC Charging Station market and expected to grow at a steady rate during the forecast period owing to a huge demand in countries such as China and Japan. China is anticipated to contribute significantly to fueling the electric vehicle charging station market. The growth is owing to the increasing sales of electric vehicles in the country. South Korea and India are taking initiatives to reduce greenhouse gas emissions by increasing the use of EVs. These initiatives by the governments are expected to create a considerable demand for EVs and EV charging infrastructure in these countries. North America is expected to witness a substantial surge in the global electric vehicle charging station during the forecast time. The U.S. is projected to lead the electric vehicle charging station market in the region. Technological developments have motivated the production of electric vehicles in the country.
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Type Insights
Important types of the product covered in this report include Chademo, CCS, and Others.
Application Insights
The application of the Electric Vehicle Ac Charging Station market is segmented into Commercial and Residential.
Commercial segment holds the largest market share, this is mainly attributed to an increased deployment of charging stations at public places such as shopping malls, commercial buildings, airports, and restaurants. The convenience of being able to use an EV charger while shopping or during office hours is expected to boost the adoption of electric vehicles. Furthermore, government offerings, such as tax credits, on the installation of publicly accessible stations are expected to boost the commercial installation of charging stations.
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Audience
• Electric Vehicle Ac Charging Station manufacturers
• Raw material suppliers of Electric Vehicle Ac Charging Station
• Distributors and resellers of Electric Vehicle Ac Charging Station
• Electric Vehicle Ac Charging Station industry associations
• Product managers, Electric Vehicle Ac Charging Station industry administrator, C-level executives of the industries
• Market Research and consulting firms
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