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Global Electric Vehicle Charging Station Market is forecast to record a revenue of US$ 93 Bn by the end of the year 2027. In terms of revenue, the global market is recording substantial growth at a CAGR of 20% during the forecast period 2021-2027. In terms of volume, the market will witness a growth in the number of new charging stations of nearly 1.8Mn units by 2027 from 2020. In terms of volume, the EV charging stations installations are growing at a CAGR of 17.5% during the forecast period. Significant growth in the number of electric vehicle charging station installations is attributed to the high adoption of Electric Vehicles (EVs) across the globe.
Favorable government support to promote electric vehicles and related components, infrastructure, and technologies through tax rebates, policies, and subsidies; increasing demand for energy-efficient vehicles to commute and growing concerns related to carbon emissions. electric vehicle charging station installation is a capital-intensive process and even minor deviation in energy prices or expected turnaround of vehicles can extend the breakeven period by years. Hence, capital intensive nature and complexities in charging stations can hamper the overall market growth for the forecast period.
The study of the global Electric vehicle charging station market considers various market determinants, analyses related to technological development, and a list of recent developments adopted by key players in the global marketplace. The report details analysis of the electric vehicle charging station industry for the period of 2017-2027, splitting it into the historic periods as 2017-2019, 2020 as the base year, and 2021-2027 as the forecast period. The report tracks various market determinants that support the overall market growth during the study period. The research report presents a detailed analysis for the electric vehicle charging station market, spanning 17 chapters, totaling 233 pages, with 90 extensive data tables and 140 figures.
The report offers a detailed review of manufacturing cost analysis, industry value chain, regional market opportunity, industry competitive structure, market dynamics, market opportunities, and key market determinants. The study traces historic data and offers market forecasts with comparative data presentation for the segments analyzed.
The report provides a detailed and comprehensive analysis related to opportunities in the electric vehicle charging station market, as electric vehicle charging station is critical to driving electric vehicle adoption. The regions tracked and analyzed for the study of the global electric vehicle charging station market are – North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The report identifies the South America electric vehicle charging station market as the fastest growing market with a CAGR of more than 30%, supported by 30 different schemes from the Efficient Electric Mobility Solutions platform, as reported by the German electric mobility portal Elective. The program was designed by the Brazilian Electricity Regulatory Agency called Aneel. Its total budget is nearly US$ 110.9 Mn. Moreover, companies are taking initiatives in the rapid development of EV infrastructure in Brazil. Some of the key companies are BMW, Volvo, EDP, Audi, Volkswagen (VW), Porsche, Siemens, ABB, and Electric Mobility Brazil from São Paulo.
Asia-Pacific is accounting for the largest shareholding when it comes to the total volume of electric vehicle charging stations added. In 2020, the region holds around 70% of the market share in the global electric vehicle charging station industry.
The report includes analysis on the basis of the following segments – Charger Type, Connector Protocol, Charging Method, and Application. The sub-segments offer readers with exclusive insights into the growth trends for each category. Considering the growth traction observed in the global electric vehicle charging station market, it is expected to have a positive impact on the demand for Electric Vehicles, driving a healthy growth of 6.6% over the forecast term, with market size growing by more than 53%.
Considering the shifting trend, with customers opting for electric vehicles, report scope also includes analyses related to ‘Electric Vehicle Industry Outlook’ with adoption analysis of green technologies, Cost Margin Analysis (Labor, Material, Permit, Tax), Charging Infrastructure Cost, Labor Cost, Permit and Tax & Profit among other market elements.
The report offers a qualitative and quantitative study of the impact of the COVID-19 outbreak on the electric vehicle charging station market. The same is depicted in three forecast scenarios, categorized into Optimistic Scenario, Astute Analysis, and Pessimistic Scenario for the period of 2020-2027. The impact assessment estimation considers various dynamics to calculate near to accurate results, including supply chain disruption, changes in laws, regulations, availability of workforce, lockdown situation, vaccination drives (country-wise), and many more.
Growing carbon emission across the globe, primarily due to the increasing number of vehicles on road, driven by the exponential growth of the transportation sector has pushed CO2 or the greenhouse gas emission to an all-time high for the past few years. This has gradually moved the attention of consumers towards mitigating carbon footprints through various steps. This has been observed as a key motivator for environmentally conscious consumers to shift towards Electric Vehicles and other environment-friendly options. Some are even willing to pay a premium for the zero-or low-emission alternatives to ICE vehicles. Another reason driving customers to choose Electric vehicles (EVs) is the rising fuel prices, wherein EVs may prove economical in the longer run. Particularly, the adoption of electric vehicles has been on a consistent rise across the U.S., Japan, and Western Europe, owing to stringent laws and regulations imposed by the government for vehicular emission to combat high-emission levels in vehicles.
On similar lines, governments of countries like India, China, and Indonesia have been making striving efforts to increase the adoption of electric vehicles for public transport.
The competitive landscape section of the global electric vehicle charging station market report covers detailed company profiling of 11 key companies. More companies can be added to the profile section on request.
Details covered for these players include – Business Description, Company Financials, Key Details, Strategy Outlook, List of Products, Recent Developments. The players profiled in the report include are ABB Ltd., AeroVironment Inc., BYD Auto, Chargemaster PLC, ChargePoint, Inc., Eaton Corporation plc, Leviton Manufacturing Co., Inc., Schneider Electric SE, SemaConnect, Inc., Siemens AG, and Tesla Motors, Inc. The competition landscape section includes insights into the shareholding of top vendors in the global marketplace, allowing readers to comprehend product development trends and shift in consumer preferences.
By Charger Type
By Connector Protocol
By Charging Method
By Region/ Country
The global electric vehicle charging station market in 2020 was valued US$23,080.3 Million
The report provides market size estimates for period of 2017-2027. Wherein, 2017-2019 is the historic period. 2020 is the base year, and 2021-2027 is the forecast period. In all, forecast is provided for a term of 10 years in the report.
Report provides market size forecast for period 2021-2027, with market estimated to grow at compounded annual growth rate of 20% by value and 17.5% by volume.
The market in 2019 was 819 thousand units.
Yes, report includes segment level analysis for Germany and France. Other countries can be added on request.
The report provides detailed segment level market size analysis and forecast for multiple parameters. These include: Charger Type (2 subsegments), Connector Protocol (3 subsegments), Application (2 subsegments), Charging Method (2 subsegments) and Region (5 subsegments).
Potential players include names such as ABB Ltd., BYD Auto, Chargemaster PLC, ChargePoint, Inc., Eaton Corporation plc, Siemens AG, Tesla Motors, Inc., and others.
For charging infrastructure cost, the elements are Material/supplies (57.6%), Labor cost (41.8%), Permit (0.4%) and Tax/Profit (0.2%).
The electric vehicles market is projected to grow at a CAGR of 18.6% in terms of volume from year 2021 to 2027.
The major drivers are growing concerns related to carbon emissions, increasing trend of electric vehicle adoption and government regulations and tax exemptions while restraining factors include high costs associated with setting up EV infrastructure, electricity costs uncertainty and requirement of space and emergence of hydrogen cell vehicles.
The cumulative market share of the four major players is close to 38.7%, hence there is loose oligopoly competition in the market.
Asia Pacific region dominated the market in 2019 with a market value of US$18,483.8Mn while South America is growing with highest annual growth rate of 33.8%.
Yes, report provides impact analysis of Covid-19 pandemic on market growth trend. 3 different scenarios are described in report depending on how the regions responds to pandemic and its effects and subsequent recovery strategies.