Electric Vehicle Service Equipment Market Scope
An electric vehicle is based on the phenomenon to store energy which is used to power the vehicles. The advantage of an electric vehicle, it has less impact on the environment. In order to control environmental pollution government of emerging economies supporting electric vehicle. The electric vehicles are now contrived by top automotive manufacturers such as General Motors, Regal Beloit, Siemens, and others which is further expected to increase the sales of electric vehicle supplementing the growth of electric vehicle service equipment market.
According to AMA, the Global Electric Vehicle Service Equipment market is expected to see growth rate of 19.34%Numerous players are available in hence market is fragmented for existing customers. Innovation of new technologies to overcome speed and weight issue for electric vehicle is increasing competition amongst the competitors. Research Analyst at AMA estimates that China Vendors will contribute to the maximum growth of Global Electric Vehicle Service Equipment market throughout the predicted period.
General Electric (United States), Regal Beloit (Beloit), Jac (China), Siemens (Germany), Volkswagen (Germany), Toshiba (United States), Nidec (Japan), Johnson Electric (Hong Kong), Renault (France), Hyundai (South Korea), Tesla (California), BAIC (China), Zotye (China), ZD (Belgium), BMW (India), Faulhaber (Germany) and Chevrolet (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Allied Motion (New York), Hyundai (South Korea) and Danaher Motion (United States).
Segmentation Overview
The study have segmented the market of Global Electric Vehicle Service Equipment market , by Application (Artic Trailer Movement, Last Mile Delivery, Line Feed, Gas Bottle Movement, People Movement, Reduced Width Vehicle and Waste Movement) and Region with country level break-up.
On the basis of geography, the market of Electric Vehicle Service Equipment 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).
Influencing Trend:
Usable Battery Packs
Market Growth Drivers:
Increasing Adoption in Emerging Economies and Government Commandments towards Pollution Regulator
Challenges:
Lack of Skilled Aftermarket Workforce
Restraints:
Inefficiency in Charging Batteries and Technological Inefficiency
Opportunities:
Less Carbon Dioxide Emission Technology
Market Leaders and their Expansionary Development Strategies
The power and grid businesses of Alstom had been acquired by GE. The transaction was completed after receiving regulatory approval in more than 20 countries and regions
On November 2018, Volkswagen announces to spend 44 billion on electric vehicle segment. Honda cars are forecasting to tap Indian electric vehicle market by 2023-24.
Key Target Audience
Government agencies, Research institute, Electric vehicle manufacturers and others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.