Navigating the $226.3 Billion Electric Vehicle Charging Station Market by 2031 - Insights from Allied Market Research

Allied Market Research recently published a report, titled, "Electric Vehicle Charging Station Market by Mode of charging (Plug-in charging, Wireless charging), by Charging level (Level 1, Level 2, Level 3), by End User (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global electric vehicle charging station industry accounted for $16.6 billion in 2021, and is expected to reach $226.3 billion by 2031, growing at a CAGR of 30.5% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A17391

𝐌𝐚𝐣𝐨𝐫 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐠𝐫𝐨𝐰𝐭𝐡

Increase in adoption of electric vehicles and favorable government initiatives have boosted the growth of the global electric vehicle charging station market. However, lack of standardization of current EV charging infrastructure and high cost of developing charging infrastructure hinder the market growth. On the contrary, incorporation of vehicle-to-grid EV charging station would open new opportunities in the future.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐬𝐡𝐚𝐫𝐞

By region, the market across Asia-Pacific dominated the market in 2021, holding more than two-fifths of the global electric vehicle charging station market, and is expected to dominate in terms of revenue during the forecast period. This is due to higher adoption rates of smart mobility services, government regulations, increase in fuel prices, and rise in trend toward adopting non-fossil fuel-based vehicles. However, the market across Europe is projected to manifest the highest CAGR of 33.1% during the forecast period, due to government initiatives to reduce the emission of harmful gases from internal combustion engine vehicles and advent of new range of electric vehicle.

𝐓𝐡𝐞 𝐩𝐥𝐮𝐠-𝐢𝐧 𝐜𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐠𝐫𝐨𝐰𝐭𝐡

By mode of charging, the plug-in charging segment held the largest share in 2021, accounting for more than four-fifths of the global electric vehicle charging station market, and is estimated to dominate the global wireless video surveillance market throughout the forecast period. The majority of electric vehicle stations are equipped with AC level 1 or 2 charging systems. These systems are preferred for charging electric vehicles at home as well as commercial areas. Charging stations at workplaces or different public locations may further strengthen the market for plug-in electric vehicle charging solutions for residential and commercial charging stations. However, the wireless charging segment is expected to register the highest CAGR of 33.5% during the forecast period, as wireless charging offers flexible operation for broad range of vehicles.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/electric-vehicle-charging-station-market/purchase-options

𝐓𝐡𝐞 𝐥𝐞𝐯𝐞𝐥 𝟑 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟏

By charging level, the level 3 segment is expected to register the highest CAGR of 34.9% during the forecast period, as level 3 charging systems require expensive hardware, making their installations primarily suitable at public station only. However, the level 2 segment held the largest share in 2021, contributing to more than four-fifth of the global EV charging station market, as this type of charging equipment is compatible with all the plug-in electric vehicles and electric vehicles.

𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐥𝐞𝐯𝐞𝐥 𝟏:

This is the slowest charging option and usually uses a normal household electrical outlet (120 V AC). Level 1 charging is suitable for overnight charging at home, but it may take several hours to fully charge an electric vehicle.

𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐥𝐞𝐯𝐞𝐥 𝟐:

This type of charging uses a higher-powered charging unit (240 V AC) and requires a dedicated charging station or wall-mounted unit. Charging level 2 is faster than level 1 and is frequently used in residential areas, outskirts, workplaces, and public charging stations. The EV can be fully charged in a few hours depending on its battery capacity.

𝐃𝐢𝐫𝐞𝐜𝐭 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐟𝐚𝐬𝐭 𝐜𝐡𝐚𝐫𝐠𝐢𝐧𝐠 (𝐃𝐂𝐅𝐂):

Charging level 3, known as direct current fast charging (DCFC), offers the fastest charging speeds. These fast-charging stations use direct current (DC) power and can charge an electric vehicle to 80% or more in an extremely short duration, normally starting from 20 minutes to an hour. DC fast charging stations are typically observed along highways, at rest stops, and in commercial zones.

𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

ABB Ltd.
Webasto Group
Siemens AG
Schneider Electric SE
Eaton Corporation PLC
Delta Electronics Inc.
BorgWarner Inc.
General Electric Company
Plugless Power Inc.
Robert Bosch GmbH
AeroVironment Inc.
Moser Services Group

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A17391

The report analyzes these key players of the global electric vehicle charging station market. These companies have adopted several strategies such as expansion, partnerships, new product launches, collaborations, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐄𝐕 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/solar-carport-charging-station-market-A07888 - Solar Carport Charging Station Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/electric-vehicle-charging-systems-market - Electric Vehicle Charging System Market : Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/hydrogen-fueling-station-market-A08501 - Hydrogen Fueling Station Market : Global Opportunity Analysis and Industry Forecast, 2024-2035

https://www.alliedmarketresearch.com/wireless-electric-vehicle-charging-market - Wireless Electric Vehicle Charging Market : Global Opportunity Analysis and Industry Forecast, 2020-2030

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
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