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Global Electric Vehicle Charging Station Market is forecast to exceed US$ 93 Billion by 2027, recording growth at a CAGR of 20% in terms of revenue during the period 2021-2027. Corresponding market volume of new installation is analyzed to touch 2.8 Million units in 2027. Growth in installations is estimated at CAGR of 17.5%. Higher growth rate for revenue is attributed to expected rise in price of EVCS due to growing system complexities and development of new technologies.
Electric vehicle charging stations are crucial to plans of driving EV adoption on a mass scale, and subsequently curtail automotive carbon emissions. A major factor deterring people to switch to Electric vehicles is availability of charging facilities for their vehicles to ensure smooth movability along highways and when driving within city limits. Factors such as range of EVs due to battery capacity and time required to completely charge the battery are other areas which EVCS manufacturers must explore to decide on technology required. Considering that EVCS 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.
The report by ASTUTE Analytica takes into consideration may such factors, after carefully analyzing activities of key players and studying impact of technology development across the horizontal markets. The report details analysis of global electric vehicle charging station market for the period of 2017-2027, splitting this period into historic period as 2017-2019, 2020 as the base year and 2021-2027 as forecast period. The report tracks various market determinants that support the overall market growth during the study period. The research report presents detailed market analysis for EV Charging Stations, spanning across 17 chapters, totaling 233 pages, with 90 extensive data tables and 140 figures.
The report on the electric vehicle (EV) charging stations market offers 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 offer market forecasts with comparative data presentation for the segments analyzed.
The report provides detailed and comprehensive analysis for opportunities in global electric vehicle charging station market, as EVCS are considered critical to drive the EVs adoption. The regions tracked and analyzed for electric vehicle charging station market are – North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The report identifies South America to emerge as region with quickest adoption of EV charging stations while Asia-Pacific region would still be the largest shareholding region when it comes to total volume of EVCS added. The Asia-Pacific is anticipated to add around 250,000 units of EV charging station by the end of the year 2025.
The report includes analysis of the global electric vehicle charging station market on basis of following parameters – Charger Type, Connector Protocol, Charging Method and Application. The further sub-segments offer readers with exclusive insights of growth trends for each category. Considering the growth traction observed in electric vehicle charging station market, it is expected to have incremental impact on Electric Vehicles (EV) demand, driving a healthy growth of 6.6% over the forecast term, with market size growing by more than 53%.
Considering 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 segments analyzed in report are shown in the image below. For additional data on any specific segments or segment customization, Ask for a sample.
Impact Assessment of COVID-19
The global electric vehicle charging station market report offers qualitative and quantitative study of impact of COVID-19 outbreak on the electric vehicle charging station market. The same is depicted as three forecast scenarios, categorized into Optimistic Scenario, RO Analysis and Pessimistic Scenario for period 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 increasing number of vehicles on road, driven by exponentially growing transportation sector has pushed CO2 or the greenhouse gas emission to all time high for past few years. This has gradually moved attention of consumers towards lessening of carbon footprint. This has been observed as a key motivator for environmentally conscious consumers to buy EVs. Some are even willing to pay a premium for the zero- or low-emission alternatives to ICE vehicles. Another reason driving customer to buy EVs is the rising fuel prices, wherein EVs may prove economical in the longer run. Particularly, adoption of electric vehicles has been on a consistent rising trend among the users across the U.S., Japan, and Western Europe. On similar lines, government 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 global electric vehicle charging station market report covers detailed company profiling of 11 key companies. More companies can be added to 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 report include the following - 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 to shareholding of top vendors in the global marketplace, allowing readers to comprehend product development trend and shift in consumer preferences.
Segmentation Overview of the Global Electric Vehicle Charging Station Market
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.