Global Electric Vehicle Charging Stations Equipment Market Size, Forecasts, And Opportunities
Learn about the global electric vehicle charging stations equipment market through The Business Research Company, which provides information on electric vehicle charging stations equipment market size, electric vehicle charging stations equipment market drivers and restraints, electric vehicle charging stations equipment market players, the COVID-19 impact on the electric vehicle charging stations equipment market, and more.
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The global electric vehicle charging stations equipment market is expected to grow from $117.27 billion in 2020 to $129.07 billion in 2021 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electric vehicle charging stations equipment market is expected to reach $390.59 billion in 2025 at a CAGR of 31.9%.
National and international legislatives policies for promoting the electric vehicle (EV) is expected to drive innovation in electric vehicle charging stations equipment manufacturing, thus driving the market during the forecast period.
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The electric vehicle charging stations equipment market consist of sales of the equipment required in the setup of electric vehicle charging stations. These electric vehicle charging stations are used to recharge the vehicles by connecting to the electricity source.
Global electric vehicle charging stations equipment market segments include:
By Type: AC Charging, DC Charging, Inductive Charging
By Vehicle Type: Battery Electric Vehicles (BEV), Plug-In Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV)
By Charging Type: Level One Charging (120 Volts), Level Two Charging (240 Volts), DC Fast Charging (480 Volts)
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Ultra-quick DC charge stations is trending in the electric vehicle charging stations market. Ultra-quick DC charge helps in supplying direct power of up to 125 kW to vehicle without any converter. These ultra-quick DC charge stations have the capability to charge 80% of the electric supply required for vehicle within 20 min time span. With the increasing demand for EV the need for more charging stations is increasing. In order to cope with the demand and make availability of low energy charging points, the ultra-quick DC charge station is the solution. Also, to deal with new upcoming EV in the market that requires high power rates for charging. There are 3 types of DC fast charging options, Combined Charging System (CCS), CHAdeMO and Tesla Supercharger. For example, ITT Inc., has introduced high performance ultra-fast DC charging solutions under the brand name Canon.
TBRC’s electric vehicle charging stations equipment market report covers:
Major Market Players: ABB Ltd, Siemens AG, The New Motion BV, Tesla Motors Inc., and ClipperCreek Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Electric Vehicle Charging Stations Equipment Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides electric vehicle charging stations equipment market overviews, analyzes and forecasts market size, share, electric vehicle charging stations equipment market players, electric vehicle charging stations equipment market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s electric vehicle charging stations equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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