Electric Vehicle (EV) Charging Station market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Electric Vehicle (EV) Charging Station market size was estimated at USD 16.03 billion in 2023 and is projected to reach USD 186.8 billion in 2030 at a CAGR of 42.1% during the forecast period 2023-2030.
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North America to Dominate the Market
· Europe would exhibit the highest CAGR As more people switch to electric vehicles, the demand for charging stations is also increasing, which is fueling the growth of the market.
· The growth of the electric vehicle charging station market is expected to continue in the coming years, as more countries and regions adopt policies to promote the use of electric vehicles.
The prominent players in the Electric Vehicle (EV) Charging Station market are
· ABB Ltd.
· ChargePoint, Inc.
· EVgo Services LLC.
· Allego
· Scheinder Electric
· Blink Charging Co.
· Wi Tricity Corporation
· Toshiba Corporation
· AeroViroment, Inc.
· Mojo Mobility, Inc.
· General Electric
· Robert Bosch GmbH
· Chargemaster plc.
· Evatran Group
· HellaKGaAHueck& Co.
· Siemens AG
· Leviton Manufacturing Co., Inc.
· Efacec
· Alfen N.V.
· Denso Corporation
· Elix Wireless
· Tesla Inc.
· ClipperCreek
· Engie
· Infineon Technologies AG
· Qualcomm Technologies, Inc. and More
An electric vehicle charging station is a device or equipment that is used to recharge electric vehicles by connecting them to a source of electricity. These charging stations are typically installed at public locations such as shopping centers, parking lots, and other areas where electric vehicles may need to be charged. Private companies or electric utility companies are responsible for installing these charging stations. Electric vehicle charging stations provide different types of charging levels, including level 1, level 2, and level 3.
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Key Findings
· On the basis of charging station type, The DC charging station is the most popular type of electric vehicle charging station in the global market in 2022, with the largest revenue share. This is mainly due to the fast charging capacity and attractive pricing of DC charging stations, which make them a convenient and cost-effective option for electric vehicle owners. The DC charging station directly charges the battery by converting the power before it enters the car's converter. This means that the electricity is converted to a form that can be used by the car's battery, without the need for additional conversion steps. charging stations installed on highways is also contributing to the growth of the DC charging market.
· On the basis of vehicle type, Governments worldwide are promoting the production of automobiles in response to the increasing concerns about the environmental impact of conventional cars. The combustion of fossil fuels in conventional cars releases harmful pollutants into the atmosphere, contributing to air pollution and climate change. Zero-emission cars, also known as electric vehicles (EVs), are becoming more popular as a more eco-friendly mode of public transit across the globe. EVs run on electricity and produce no tailpipe emissions, making them a cleaner alternative to conventional cars.
· On the basis of Connecter Type, The AC charging specification is a type of charging system for electric vehicles that was created by Mennekes, a well-known connection maker. This specification has been widely accepted and utilized by electric vehicle users in various regions, including Taiwan, Europe, Australia, and Southeast Asia. The Type 2 connector is a type of AC charging specification that distinguishes itself from other types by lacking a pin on the object.
· The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. the growth of the electric vehicle charging station market in Europe and North America. The growth in these regions is moderate, which means it is not as high as in other regions. The reason for this moderate growth is the government's ambition to reduce carbon emissions and increase the adoption rate of electric vehicles.
Recent Developments
In November 2022, Shell Deutschland GmbH, a subsidiary of Shell, has acquired SBRS GmbH, a subsidiary of Schaltbau Holding AG. SBRS GmbH is a well-known provider of charging infrastructure solutions for commercial electric vehicles. The acquisition has added valuable experience in electric bus charging to Shell's portfolio.
In October 2022, Erisha E Mobility is a subsidiary of Rana Group, which has announced the launch of three new electric vehicles and EV charging stations. The three new electric vehicles are E-Superior Electric Cargo Loader, E-Supreme Electric Delivery Van, and E-Smart Electric Passenger Vehicle three-wheeler auto. These vehicles belong to the L5 category, which means they are designed for commercial use and can carry heavy loads.
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Frequently Asked Questions
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