Industry Background:
Electric car chargers are used to charge an electric car with the help of a battery and electrical source that supplies energy that is used for charging. They also help decrease the carbon footprints released in the atmosphere, which contains toxic gas particles. There are two types of chargers used to charge an electric car AC charger and DC fast charger. High Adoption Of electrical car and energy efficient automobiles will help to boost the global electrical car charger market. Attraction towards luxury electrical cars will create an opportunity in the electric car charger market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | ABB Ltd. (Switzerland), AeroVironment (United States), Robert Bosch GmbH (Germany), Siemens AG (Germany), Delphi Automotive (Ireland), ChargePoint (United States), Schneider Electric (France), Aerovironment Inc. (United States), Silicon Laboratories (United States) and Tesla (United States) |
According to AMA, the market for Electric Car Chargers is expected to register a CAGR of 35.76% during the forecast period to 2030. This growth is primarily driven by Rising Demand for Electrical Car and Government Initiatives for Development of Electric Car Charging Infrastructure.
Globally, a noticeable market trend is evident High Demand for Wireless Charging Of Electrical Car
The Electrical Components & Equipment sector in the North America 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 Manufacturers, such as ABB Ltd. (Switzerland), AeroVironment (United States), Robert Bosch GmbH (Germany), Siemens AG (Germany), Delphi Automotive (Ireland), ChargePoint (United States), Schneider Electric (France), Aerovironment Inc. (United States), Silicon Laboratories (United States) and Tesla (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The electric car charger market is still evolving, and it's an exciting time to be involved. With continued innovation, collaboration, and policy support, we can expect to see a robust and sustainable charging infrastructure emerge, paving the way for a widespread shift towards electric mobility.
Key Developments in the Market:
In September 2023, Volkswagen & BP started partnership 2023 to bolster charging infrastructure in the UK, Volkswagen partnered with BP. The collaboration will see the installation of 1,500 rapid chargers at BP petrol stations over the next few years.
In September 2023, Porsche 800V Charger Catering to high-performance EVs, Porsche launched its 800V charging system in September 2023. This system charges compatible vehicles at speeds of up to 350 kW, significantly reducing charging times for models like the Taycan.
Influencing Trend:
High Demand for Wireless Charging Of Electrical Car and Growing Concern towards Environmental Pollution
Market Growth Drivers:
Rising Demand for Electrical Car and Government Initiatives for Development of Electric Car Charging Infrastructure
Challenges:
Lack of Presence of Charger at Public Place
Restraints:
High Price of Electric Car and Lack of Standardization of Electrical Car Charging
Opportunities:
Rising Demand for Luxury Electrical Car and Growth in Disposable Income will boost the Electric Car Chargers Market
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 mostly 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 Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
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 in Electric Car Chargers Market
- Analysis about New Entrants in Electric Car Chargers Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Electric Car Chargers Study Sheds Light on
The Electric Car Chargers Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electric Car Chargers industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electric Car Chargers 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 Manufacturers 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.