About Electric Vehicle Charging Points
Electric vehicle charging points are an element in an infrastructure that supplies electric energy for the recharging of plug-in electric vehicles including electric cars, neighborhood electric vehicles, and plug-in hybrids. Electric Vehicle can also reduce the emissions that contribute to climate change and smog, which improving public health and reducing ecological damage. Due to growing environmental concerns, the various countries are taking initiative for pollution-free vehicles which led to the growth of the electric vehicles which is demanding the electric vehicle charging points.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 30.7% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Electric Vehicle Charging Points market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Ltd. (Switzerland), Leviton Manufacturing (United States), ChargePoint (United States), Chargemaster PLC (United Kingdom), Evatran Group (United States), ClipperCreek (United States), General Electric Company (United States), Siemens AG (Germany), AddEnergie (Canada) and SemaConnect (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Schneider Electric SE (France), Tesla (United States) and Webasto SE (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Electric Vehicle Charging Points market by Type (AC (Alternating Current) Charger and DC (Direct Current) Charger), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Electric Vehicle Charging Points has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Type of Charging, the sub-segment i.e. Level One Charging (120V) will boost the Electric Vehicle Charging Points market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Electric Vehicle Type, the sub-segment i.e. All-Electric Vehicles will boost the Electric Vehicle Charging Points market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for DC Fast Chargers Globally
Market Growth Drivers:
Growing Adoption of Electric Vehicle in Emerging Countries and Rising Demand for Energy Efficient Transportation
Challenges:
Unavailability of Charging Points Hamper the Use of Electric Vehicle for Long-Distance Travelling
Restraints:
High Cost of Electric Vehicle Batteries and Stringent Government and Energy Association Rules for Installation of Charging Station
Opportunities:
Growing R&D Activities related to Electic Vehicle, Growing Environmental Concerns, Electric Vehicle Reduce Harmful Air Pollution Impacting on Growing Sale of these Vehicles and Due to Lower Running Costs and Cheaper Maintainance Rising Demand of Electric Vehicle
Market Leaders and their expansionary development strategies
In December 2023, Tritium, an Australian EV charging manufacturer, unveiled its new Megawatt Charging Station, capable of delivering up to 1 MW of power. This technology could significantly reduce charging times for heavy-duty vehicles like electric trucks and buses.
The government of India have undertaken multiple initiatives to promote the manufacturing and adoption of electric vehicles in India. With the support of the Government, electric vehicles have started penetrating the Indian market. However, the availability of adequate Charging Infrastructure is one of the key requirements for accelerated adoption of electric vehicles in India. It is proposed to encourage this by laying down an enabling framework.
Key Target Audience
Manufacturers of Electric Vehicle Charging Points, Suppliers of Electric Vehicle Charging Points, Wholesalers, Distributors, and Retailers of Electric Vehicle Charging Points, Automotive Industry, Components Manufacturers and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.