What is the future of the global electric vehicle charging infrastructure market?

Blog Brief: Electric Vehicles are the smart solutions to reduce carbon emissions across the globe. It is estimated that transportation alone accounts for 20 per cent of the overall carbon emissions. Adoption of Electric Vehicles can reduce the same to a significant extent. However, one of the major reasons that consumers have not adopted electric vehicles as a preferred mode of transport is the lack of access to charging infrastructure. With prices of electric vehicles dropping and ranges expanding, lack of charging stations could become the top-most hurdle to the expansion of electric vehicles market. The report published by Global Market Estimates Research and Consultants have given an insight with respect to the global electric vehicle charging infrastructure through different categories.

What is the future of the Global Electric Vehicle Charging Infrastructure Market?

Electric Vehicles are the smart solutions to reduce carbon emissions across the globe. It is estimated that transportation alone accounts for 20 per cent of the overall carbon emissions. Adoption of Electric Vehicles can reduce the same to a significant extent. However, one of the major reasons that consumers have not adopted electric vehicles as a preferred mode of transport is the lack of access to charging infrastructure. With prices of electric vehicles dropping and ranges expanding, lack of charging stations could become the top-most hurdle to the expansion of electric vehicles market. According to a report by McKinsey, approximately 120 million electric vehicles could be on road in China, Europe and the US by 2030. However, building new electric vehicle charging infrastructure in big cities could be extremely difficult.

So, the question is: What is the future of the global electric vehicle charging infrastructure market?

A recent report about the global electric vehicle charging infrastructure is that the market is expected to grow at a CAGR of over 17% during 2019-2026. The same report specifies that additionally grid integration of electric vehicles is anticipated to provide huge boost to global electric vehicle charging infrastructure market in the ensuing years. Emergence of smart grid technologies as well as the concept of virtual power plants would further boost the global market for electric vehicles and its related charging infrastructure.

The report published by Global Market Estimates Research and Consultants have given an insight with respect to the global electric vehicle charging infrastructure market through different categories. The categories include segmentation on the basis of charger type (slow and fast). This is followed by segmentation on the basis of connector. The global electric vehicle charging infrastructure market is segmented into CHAdeMO, Combined Charging System (CCS) and others. Thirdly, on the basis of application, the global electric vehicle charging infrastructure market is segmented into commercial, and residential. Lastly, a region-wise analysis has been done. On the basis of region, the global electric vehicle charging infrastructure market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. The report covered the several major countries including, U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Saudi Arabia, UAE, and South Africa among others. The report provides qualitative & quantitative insights both at a regional as well as country level. 

The report concludes with chapters dedicated to the end-user landscape, vendor landscape and key players. The end-user landscape entails a list of current and prospective consumers prevailing across the regions. In this section, company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase electric vehicle charging infrastructure have been incorporated. According to the report, the key end-users of the market are Tesla, Hyundai, Honda, and Ford among others. The chapter dedicated to vendors operating in the market cover raw material manufactures, equipment developers, manufacturers, and distributors. Lastly, some of the key players operating in the electric vehicle charging infrastructure market are AeroVironment Inc., ABB BP Chargemaster, ChargePoint, Inc., ClipperCreek, Eaton, General Electric, Leviton Manufacturing Co., Inc., SemaConnect, Inc., Schneider Electric, Siemens, Tesla, Inc., and Webasto among others.