DUBLIN, May 27, 2021 /PRNewswire/ — The “Electric Vehicle Charging Infrastructure Market – Global Outlook and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global electric vehicle charging infrastructure market size to cross USD 14 billion in 2026, growing at a CAGR of 36% during the forecast period.
With the increasing funding from government bodies for electric vehicle (EV) adoption, the demand for charging infrastructure is expected to grow. Many countries have recognized the need to go electric to reduce rising emissions, with the US and China leading the race. These countries have taken measures to expand and establish the charging network.
They have encouraged people to opt for these vehicles by offering discounts, tax rebates, and preferential measures, among other things. China, the US, and a few European countries have subsidized the expense of installing an electric vehicle charging station in apartment complexes, semi-public zones, and private residences, which is influencing the market growth.
The APAC market is projected to be driven by the large-scale development of EV charging networks in China, increasing demand for affordable electric vehicles for everyday use, and governments supporting electric vehicles during the forecast period. The expansion of advanced technology to boost electrification in China fuels the country’s rapidly growing economy. China invested roughly USD 2.4 billion in improving the charging infrastructure until 2020.
Governments of Japan and Korea have announced plans to dramatically increase the number of electric vehicle charging systems in their respective countries in the coming years. Moreover, growing innovations, include automated robot-based, wireless, and ultra-fast charging, are expected to boost the demand during the forecast period.
Insights by Geography
APAC is likely to lead the global electric vehicle charging infrastructure market share in revenue and volume. The APAC electric vehicle charging infrastructure market is expected to grow at a CAGR of over 31% during the forecast period. The increasing adoption of electric vehicles at commercial levels is aiding the growth of the market. China, Japan, South Korea, and India are the fastest-growing markets in the region. Significant developments have taken place owing to the high pollution rates in APAC countries.
However, the knowledge gap has been a challenge for consumers and manufacturers to penetrate the market quickly. Electric charging systems are deployed at commercial facilities such as in parking garages, supermarkets, and office spaces in the APAC region. The growing demand for electric cars, government incentives and discounts for electric vehicles, and environmental issues are other major factors driving the infrastructure development in the region.
Insights by Vendors
APAC, Europe, and North American economies are the three most promising markets for electric vehicles and associated infrastructure. These three regions account for a significant share of the market. Opportunities in the electric vehicle charging market are numerous because these are mainly untapped with no clear market leaders.
All markets are expected to expand rapidly over the next decade, coinciding with the anticipated mass acceptance of electric vehicles (EVs). ABB, Star Charge, and DBT Technologies are among the most prominent vendors. Product launches are a popular approach used by industry leaders to broaden their product portfolios and expand their global presence.
For instance, in March 2019, Tesla Inc. unveiled the V3 Supercharger, the company’s third generation of Supercharger, charging a vehicle in less than 15 minutes.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Business Models
7.3 FAQs
7.4 Impact Of COVID-19
8 Market Opportunities & Trends
8.1 Automated Robot-Based EV Charging Infrastructure
8.2 Wireless Charging Systems for Electric Taxis
8.3 Evolving Business Models to Promote EV Adoption
9 Market Growth Enablers
9.1 Government Policies & Initiatives
9.2 Demand for Ultra-Fast Charging Infrastructure
9.3 Decline in Electric Vehicle Prices
10 Market Restraints
10.1 Lack of Standardization In Charging Infrastructure
10.2 High Cost of Fast-Charging Infrastructure
10.3 At-Home Charging Infrastructure
11 Market Landscape
11.1 Market Overview
11.2 AC/DC: Market Overview
11.3 M&As & Partnerships
11.4 Recent Developments
11.5 End User: Market Dynamics
11.6 Market Size & Forecast By Value & Volume
11.7 Five Forces Analysis
12 Voltage
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Level 1
12.4 Level 2
12.5 Level 3-5
13 Mode Of Charging
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Wired
13.4 Wireless
14 Application
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Private Charging Stations
14.4 Public Charging Stations
15 Operation Sites
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Petrol Pumps
15.4 Offices
15.5 Supermarkets
15.6 Public Parks
15.7 Others
16 Geography
For more information about this report visit https://www.researchandmarkets.com/r/vto5gk
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