Electric Vehicle Charging Equipment Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Electric Vehicle Charging Equipment market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Electric Vehicle Charging Equipment Market report is anticipated to register a CAGR of XX% over a five years forecast period (2018 – 2023).”
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List of Major Key players operating in the Global Electric Vehicle Charging Equipment Market are –
- ABB Ltd.
- Chargemaster Plc
- DBT SA
- Engie SA
- Fortum Oyj
- Siemens AG
- Leviton Manufacturing Co.
- The New Motion B.V
- Robert Bosch GmbH
- Schneider Electric S.E
- Tesla Motors Inc.
Electric vehicles, plug-in hybrid electric vehicles (PHEV), and other alternatively-fuelled vehicles (AFVs) are grabbing the market shares from the traditional petrol and diesel models. Further, as countries, in a rapidly growing and changing world, seek to address the future energy requirements, achieving a sustainable transportation is emerging as a vital mission. However, PHEV and EV markets’ growths have been hampered by the “range anxiety”; consumer’s fear of being stranded because of the poor battery performance or a lack of charging infrastructure. For the PHEV and EV markets to expand, developing charging infrastructure has become a priority. Hence, the importance of the availability of charging infrastructure on the prospects for electric car market growth calls for a continued support for the EV charging equipment deployment.
Regulatory Framework – Drives the Market
National and international policy frameworks, aiming to support the deployment of Electric Vehicle Supply Equipment (EVSE), are driving the EV charging equipment market growth. Countries, such as China, France, Korea, and the Netherlands, among others, are some of the key nations developing their EV charging infrastructure through various policy supports. For Instance, by 2020, China aims to deploy about 4.3 million private EVSE outlets, nearly 0.5 million public chargers for cars, and around 850 intercity quick-charge stations, among other targets, for buses and taxis. France has started working on its ambition to deploy nearly 7 million charging outlets by 2030. In 2016, Korea upgraded its former target for deploying countrywide, publicly accessible fast chargers by 2020, from 1 400 to 3 000, with the aim of making all parts of the country accessible with an electric vehicle.
National legislative frameworks are important for providing financial incentives, fiscal advantages, and other forms of monetary incentives for individuals, businesses, and local authorities, who are willing to invest in the installation of EV charging stations. In China, the central government supports municipalities deploying public-charging infrastructure, by subsidizing the construction of charging stations. In France, financial incentives can take the form of a tax credit equivalent to 30% of a home charger or subsidies for the installation of residential or workplace chargers. Norway provides EVSE public funding for fast-charging stations every 50 km (on average) on main roads and contributes to deployment incentives for public chargers. Such financial supports are given in many other countries and are expected to be adopted by the various nations of Asia-Pacific and Europe in the coming years, thus further fuelling the market growth.
Asia-Pacific to Dominate the Market
As of 2017, Asia-Pacific dominated the market and is expected to continue the same during the forecast period. This growth can be attributed to the strong EV market, effective government policies and subsidies, and incentives by countries, such as China, Japan, India, and South Korea, among others. In the past few years, China witnessed a growth in, both, electric vehicles and their charging infrastructure. Recently, the country surpassed the United States in the number of EV vehicles on road. Furthermore, in 2016, Japan surpassed the number of petrol stations with EV charging outlets. In 2017, India launched its first EV charging station. Rapid urbanization and increase in the purchasing power among people, across the countries in Asia-Pacific, are expected to further propel the growth of EV charging equipment market, during the forecast period.
China investing heavily in EV stations
China has the world’s largest electric vehicle (EV) charging network. The number of public NEV (new energy vehicle) charging points in the country grew to 214,000 in 2017. China’s national grid is investing in EV charging stations and, by 2020, it expects to invest nearly RMB 25 billion into charging stations. In 2016, China surpassed the United States in the total electric car stock, becoming the country with the most EVs on its road network. This evolution can be attributed to China’s rapidly growing BEV market, where BEVs have continued to dominate over PHEVs. However, the plans to phase out subsidies by 2020 and underutilization of public charging stations are posing challenges for the Chinese market.
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Scope of the Report:
The report analyses Electric Vehicle Charging Equipment market, which includes –
- Analysis of the growth of Electric Vehicle Charging Equipment market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Electric Vehicle Charging Equipment market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Electric Vehicle Charging Equipment market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Electric Vehicle Charging Equipment market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Electric Vehicle Charging Equipment Market Report:
- Varying dynamics of the Electric Vehicle Charging Equipment industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
- Electric Vehicle Charging Equipment market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Electric Vehicle Charging Equipment market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Electric Vehicle Charging Equipment Market Report:
- The report analyses how stringent emission control norms will drive the global Electric Vehicle Charging Equipment market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Electric Vehicle Charging Equipment market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Electric Vehicle Charging Equipment:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023
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