About Automotive Electric Charging Technology
Concerns about carbon dioxide emissions, greenhouse gas emissions, and the accelerating depletion of non-renewable have heightened the need to develop and embrace new eco-friendly, long-term alternatives to internal combustion engine (ICE) cars. EV battery chargers are classified into three levels based on their power ratings: level 1, level 2, and level 3. At all power levels, a battery charger can allow unidirectional or bidirectional power transfer. The bidirectional power flow adds a vehicle-to-grid (V2G) mode to the grid-to-vehicle interface (G2V). The rise in growth for EV sales and technological advancements have been contributing to charging stations also high government support by subsidies, and funding. Regulations, and standards will be giving better growth in the near future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that Europe Players will contribute the maximum growth to Global Automotive Electric Charging Technology market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Schneider Electric SE (France), Siemens AG (Germany), ABB (Sweden), Tesla, Inc. (United States), Eaton Corporation (Ireland), ChargePoint, Inc. (United States), Webasto Group (Germany), EVBox B.V. (Netherlands), Blink Charging, Co. (United States) and EFACEC (Portugal) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Automotive Electric Charging Technology market by Type (AC Charging and DC Charging), Application (Commercial and Household) and Region.
On the basis of geography, the market of Automotive Electric Charging Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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 Voltage, the sub-segment i.e. 230V will boost the Automotive Electric Charging Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Plug, the sub-segment i.e. CCS will boost the Automotive Electric Charging Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Level, the sub-segment i.e. Level 1 will boost the Automotive Electric Charging Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ampere, the sub-segment i.e. 32A will boost the Automotive Electric Charging Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Need For A Faster Charger And Reduced Charging Time Due To Rise In Intercity And State Travelling.
Market Growth Drivers:
There has been an Increase in Demand for Fuel-Efficient Vehicles Leading to a Growth in EV Market. and Government Initiatives In Terms Of Rules And Regulations And Subsidies For EV Is One Of The Driving Factors For Growth In EV Charging Technology.
Challenges:
High Initial Cost of Setup for Fast Charging.
Restraints:
Not Having Standardized Charging Plugs Technology.
Opportunities:
High Amount of Financial Investments in R&D for Better Charging Technology.
Market Leaders and their expansionary development strategies
Meritor, Inc. today announced that it has entered into an agreement with Siemens to acquire its Commercial Vehicles business for approximately €190 million in cash, adjusted for changes in working capital at closing. The transaction is expected to close by calendar year-end, subject to regulatory approvals and customary closing conditions.
The proposed requirements relating to interoperability similarly address less visible standardization along with the national EV charging network. The FHWA proposes a seamless national network of EV charging infrastructure that can communicate and operate on the same software platforms from one State to another. The FHWA proposes interoperability requirements for charger-to-EV communication to ensure that chargers are capable of the communication necessary to perform smart charge management and Plug and Charge.
Key Target Audience
EV charger Manufacturers, EV Manufacturers, New Entrants and Investors, Air Amplifiers Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
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.