Peer-To-Peer Electric Vehicle Charging Market by Product Type (Level 1, Level 2) by Product Application (Commercial, Residential, Others): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global market is expected to cross market value of USD 352.41 million in 2027 from USD 105.68 million in 2020. It is expected to grow at a CAGR of over 22.23% during the forecast period.

A P2P EV charging can be explained as energy exchange scheme between two groups of electric vehicles that decreases the charging process’s effect on the power grid during the business hours. This trading scheme is also financially advantageous to all participants in the trading process. Credence Research is offering holistic information and absolute accuracy on the report titled “Global Peer-To-Peer Electric Vehicle Charging Market”.

Key Market Drivers and Restraints

Factors that have high impact on the growth of market of industrial electric vehicles will be covered her. Also, covers factors that may challenge or act as opportunity for market will be discussed in order to identify the revenue generation.

Impact of COVID-19

Following the spread of the novel corona virus, governments around the world have emphasized the introduction of strict lockdowns. As a result, there has been a global economic downturn, which is expected to have an effect on investments in EV charging networks, smart cities, and numerous industries and sectors like electronics, and power generation, and automobiles, among others. This factor is expected to have an effect on business growth over the next two years. 

North America to Dominate the global market

On geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research is providing in-depth insight on prominent regions of global market. North America dominated with over 51% share in 2020.

Global Market is led by the Level 2

Level 1 and Level 2 are the two Product Types of global market. Increasing number of government measures such as the Workplace Charging Challenge, the Level 1 segment is expected to grow at a significantly high CAGR.

Residential dominated the global market in terms of Product Application

Commercial, Residential and Others are three various Product Applications of this market. In 2020, residential segment has high share but in the forthcoming years, commercial segment will dominate due to an increase in the number of contracts offered by commercial building contractors to utilities for the creation of P2P networks.                

Frequently asked questions about global industry

  • Which are the different Product Types in this industry?
    Ans: Level 2 and Level 1 are the different Product Types available in the market
  • Who are the key players in the global industry?
    Ans: ClipperCreek, Inc., AeroVironment, Inc., EV Meter, ChargePoint, Inc., Greenlots, IONITY, Enel X, EVBox and Innogy are the key players operating in this market
  • Which is the fastest growing Product Application segment for global industry?
    Ans: Commercial Product Application offers tremendous opportunities to players
  • Which is the leading regional market for global industry?
    Ans: North America has the largest share owing to various developments happening in this space
  • What will be the CAGR (2021 - 2027) of in global industry?
    Ans: The market is anticipated to grow at a CAGR of 22.23% throughout the forecast period
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Published Date:  May 2021
Category:  Automotive & Transportation
Report ID:   60358
Report Format:   PDF
Pages:   120
Rating:    4.4 (49)
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