Electric Vehicle Charging Station Market Outlook and Growth Trends Forecasts Steady Growth at a CAGR of 30.8% till 2025
September 11, 2017
The global electric vehicle charging market is expected to showcase an exponential CAGR of 30.8% between 2017 and 2025. At this pace, the market's valuation will reach US$37.48 bn by the end of 2025.
In the past few years, owing to the increasing awareness among people and favorable government policies, the sales of electric vehicles have accelerated steadily, which as a result has shown a great impact on demand for electric vehicle charging stations. The global electric vehicle charging station market is expected to showcase a phenomenal growth and is the focus of a new market report added to the vast online repository of Market Research Reports Search Engine (MRRSE) with a title “Electric Vehicle Charging Station Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”. The report provides a comprehensive analysis of the current market state as well as the future outlook of the global electric vehicle charging station market.
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An electric vehicle charging station is a component or an infrastructure which supplies electric energy to the electric vehicles for recharging of batteries. These charging stations at installed at public places such as shopping centers, parking spaces, and others. It provides energy to plug-in electric vehicles which include electric cars and plug-in hybrids. In the first part, the report includes all the essential information about the electric vehicle charging station market and its various components. As per the analyst’s estimation, the global electric vehicle charging market is expected to showcase an exponential CAGR of 30.8% between 2017 and 2025. At this pace, the market’s valuation will reach US$37.48 bn by the end of 2025.
The market overview section of the study analyzes the market dynamics and trends, such as the drivers, restraints, challenges and opportunities that impact the current situation and is likely to influence the future state of the market. Moreover, the electric vehicle charging stations market can be broadly classified into technology, end use application and geography. The report provides a close look at the geographical expansion of the market which highlights some of the prime regions, such as South America, Europe, Asia Pacific, North America; and MEA. Of these, Asia Pacific region, due to the improving infrastructure along with the favorable government regulations is witnessed to gain maximum share.
Based on technology, the report covers level 1, level 2 and level 3. While, end-users are government, public space and municipalities (parks and street), commercial office space, healthcare, retail, hospitality, residential, logistics and transportation (fleet services), education, and others. The study analyzed that as the rate of sales of EVs across the household sector increases, the demand for charging stations to be installed at residences is likely to rise in response. While the commercial office space and retail segments are anticipated to generate higher revenue in the coming years.
Later, some of the major players operating within the global electric vehicle charging station market profiled in this study which includes Bosch Automotive Service Solutions Inc., AeroVironment, Inc., ChargePoint, Inc., E-Station Pty Ltd., ClipperCreek, Inc., Delta Group, Eaton Plc, Enel Group, General Electric Co., Hitachi, Ltd., Leviton Manufacturing Co., Inc., KYOCERA Corp., Nichicon Corp., Panasonic Corp., Schneider Electric SE, SemaConnect, Inc., Siemens AG, Signet Systems Inc., Tesla Motors, Inc. and Toyota Industries Corp.
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