The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increasing stringent regulations by the governments to limit environmental pollution are expected to drive innovation in electric vehicle charger manufacturing, thus driving the market during the forecast period.

The global electric vehicle charger market is expected to grow from $5.26 billion in 2022 to $6.98 billion in 2023 at a compound annual growth rate (CAGR) of 32.6%. The electric vehicle charger market size is expected to grow to $17.81 billion in 2027 at a CAGR of 26.4%.

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Global Electric Vehicle Charger Market Segments Include:

• By Vehicle Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)
• By Charging Type: On-Board Chargers, Off-Board Chargers
• By End-User: Residential, Commercial
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global electric vehicle charger market in 2021.

Major Market Players in the electric vehicle charger market include ABB Ltd., AeroVironment Inc., ChargePoint Inc., BP Chargemaster, Evatran Group Inc., Leviton, Webasto SE, Eaton, Schneider Electric, Siemens.

The growing technological advancements are shaping the electric vehicle charger market. Major companies operating in the electric vehicle charger sector are focused on developing technological solutions for electric vehicle chargers to reduce carbon emissions and meet customer demand. For instance, in April 2021, Envision Group, a China-based green technology company introduced Mochi charging robot which is 100% powered by green electricity. Mochi is a small, flexible robot with accurate location-sensing technology that allows it to navigate with centimeter-level precision. Mochi can be installed in a variety of settings and can automatically locate and charge electric vehicles, saving drivers time and effort. Mochi will give a versatile solution to help accommodate the growing demand for charging stations as more EVs hit the road.

The Electric Vehicle Charger Global Market Report 2023  provides a electric vehicle charger market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electric vehicle charger market forecast analyzes electric vehicle charger market size, electric vehicle charger market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An electric vehicle charger is defined as a charger that delivers energy to the vehicle battery system per unit of time. It is a part of electric vehicle supply equipment that provides electrical power to plug-in electric automobiles.

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