Industry Background:
The Electric Vehicle Supply Equipment (EVSE), commonly known as a charging station or charging dock. These charging stations are built into the electric vehicle charging standard for electrical safety; first for the user, then the vehicle and then for power grid. The charging station’s primary purpose is as electrical safety equipment. A charging station uses several layers of redundant safety features to protect the user from electrical threats while connecting and disconnecting the station to the vehicle.This growth is primarily driven by Heavy Investments from Automakers in Electric Vehicles
.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Automobiles sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as ChargePoint, Inc. (United States), ABB Ltd (Switzerland), Tesla Inc. (United States), Eaton Corporation (Ireland), General Electric Company (United States), Schneider Electric S.E. (France), Robert Bosch GmbH (Germany), BYD Auto (China), Siemens (Germany) and ENGIE (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2021, EZ4EV private limited, a india based battery storage and charger development company has launched an on demand mobile charging station Eurja for electric vehicles. This solution is managed as an IOT things device and follows an innovative electric vehicle charging on demand aproach, permitting remote condition monitoring and organization of operations.
In April 18, 2023, EvoCharge®, an industry pioneer in Electric Vehicle Supply Equipment (EVSE) and cable management solutions, has launched of its new Level 2 EvoCharge Max EV Charging Station, delivering up to 19.2kW of power (80 amps on 240V circuit). This new offering is a future-proofed EVSE ready for deployment for today’s fleet and commercial customers, operating at the highest end of J1772 Level 2 power output (19.2kW) and paired with networking features and capabilities for today and the future.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.
Regulatory Insights:
The FAST Act allows Federal agencies to use appropriated funds to install and operate EVSE infrastructure for Privately Owned Vehicles (POV), on condition that these vehicles are authorized to park in a federally controlled parking area. The Act also requires other Federal agencies to collect fees for the use of these EVSE to recover infrastructure, operating costs, and maintenance. The FAST Act contains exceptions for determining the components of the fee that relates to hardware, construction, and installation costs.
Influencing Trend:
Increasing demand for electric vehicles across the globe and Environmental Pollution Treated as a Burning Issue
Market Growth Drivers:
Heavy Investments from Automakers in Electric Vehicles, Rising awareness about environmental problems and Government Regulations and Subsidies
Challenges:
High Initial Investment Cost and Strict Rules for Installation of Charging Stations
Restraints:
Increasing demand for electric vehicles across the globe and Environmental Pollution Treated as a Burning Issue
Opportunities:
Use of Vehicle-To-Grid (V2G) EV Charging Stations for EVs and Electric Vehicle Charging Stations Powered By Renewable Sources
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Electric Vehicle Supply Equipment Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Electric Vehicle Supply Equipment Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Electric Vehicle Supply Equipment players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Electric Vehicle Supply Equipment Study Sheds Light on
The Electric Vehicle Supply Equipment Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electric Vehicle Supply Equipment industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electric Vehicle Supply Equipment industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.