The market for Electric Charging Station Market is expected to reach US$ 8.8 Bn By 2027.
Globally, the electric charging station market is expected to grow with a CAGR of more than 39% during the forecast period from 2019 to 2027, starting from US$8.8Bn in 2018.
The adoption of electric vehicles is growing rapidly across the world. Electric charging station provides an important role in the adoption of electric vehicles as they offer a safe, durable, reliable, and affordable charging infrastructure and ecosystem. The stringent emission norms adopted by the governments and the benefits offered by electric cars are accelerating the growth of electric charging stations in numerous developed and underdeveloped countries. Furthermore, the considerable rise in fuel prices is creating a huge demand for affordable alternatives that are anticipated to boost the demand for electric charging stations worldwide. On the other hand, the price associated with the initial setup of the electric charging station is expected to hamper the growth of the market. Moreover, the development of advanced technologies in the electric charging station in the near future is projected to fuel the market by opening several opportunities for companies working in this market.
The government funding to establish the public electric charging stations leading the growth of the electric charging station market
The public type charging station is dominating the electric charging market. The growing use of electric vehicles created the demand for efficient and reliable charging stations in public infrastructure such as public paid parking, railway stations, malls, airport, and others. The electric charger station. Manufacturers are more focused on developing advanced electric chargers to ensure easy availability at affordable prices. Moreover, on the basis of the mode of electric charging, the market is led by the plug-in charging system. Wireless charging systems are expected to show significant growth in the electric charging station market in upcoming years.
The Asia Pacific is the largest and the fastest growing region in the electric charging station market.
The Asia Pacific dominates the growth of the electric charging station market. Europe and North America hold a significant market share in this market. The growing awareness about eco-friendly vehicles to overcome the population is the key factor that promotes the adoption of electric vehicles in the Asia Pacific. Thus, this will further escalate the growth of the electric charging station market. Moreover, the growing manufacturers' focus on the technological advancements in electric vehicles and charging stations, coupled with the high demand and consumption of vehicles, are majorly contributing to the growth of the electric charging station market in the Asia Pacific region.
Some of the prominent players operating in the electric charging station market include Schneider Electric SE, Siemens AG, ABB Ltd, ChargePoint Inc, Tesla, Inc., EVgo Services LLC, Webasto SE, Chargemaster PLC, General Electric Company, Leviton Manufacturing Co. Inc, Eaton Corporation and others.
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
The electric charging station market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global electric charging station market based on charging, power output, end-user, and geography. Key segments covered in the report are as follows:
ATTRIBUTE DETAILS
Research Period 2017-2027
The base Year 2018
Forecast Period 2019-2027
Historical Year 2017
Unit USD Billion
Segmentation Mode of Charging Segment (2017–2027; US$ Bn)
Power Output Segment (2017–2027; US$ Bn)
End-use Segment (2017–2027; US$ Bn)
Geography Segment (2017–2027; US$ Bn)
The market for Electric Charging Station Market is expected to reach US$ 8.8 Bn By 2027.
The Electric Charging Station Market is expected to see significant CAGR growth over the coming years, at 39%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Schneider Electric SE, Siemens AG, ABB Ltd, ChargePoint Inc, Tesla, Inc., EVgo Services LLC, Webasto SE, Chargemaster PLC, General Electric Company, Leviton Manufacturing Co. Inc, Eaton Corporation are some of the major players in the global market.