HOME › Press Releases › Electric Vehicle Charging Stations Market worth 12.61 Billion USD by 2022
Electric Vehicle Charging Stations Market worth 12.61 Billion USD by 2022
According to the new market research report "Electric Vehicle Charging Stations Market by Charging Station (AC Charging Station, DC Charging Station, Inductive Charging Station), Connector Type (Chademo, CCS, Others), Location (Public, Private), and Geography - Global Trend and Forecast to 2022" , the electric vehicle charging stations market is estimated to reach USD 12.61 Billion by 2022, at a CAGR of 29.8% between 2016 and 2022. Factors which are driving the electric vehicle charging stations market include government subsidies and incentives, increasing use of EVs, and the growing need to reduce carbon emissions.
Browse 69 tables and 64 figures spread through 146 Pages and in-depth TOC on "Electric Vehicle Charging Stations Market - Global Trend and Forecast to 2022"
Early buyers will receive 10% customization on reports.
“Battery electric vehicles expected to lead the electric vehicle market between 2016 and 2022”
The U.S. Environmental Protection Agency (EPA) categorizes battery electric vehicles (BEVs) as zero-emission vehicles because they produce no direct emissions. BEVs use no other fuel; the widespread use of these vehicles could significantly reduce the petroleum consumption. Further, BEVs have several other advantages such as comparatively longer driving range than PHEVs, smooth operation, stronger acceleration, and less maintenance than ICEs.
“AC charging stations expected to lead the electric vehicle charging stations market”
AC charging stations are expected to hold the largest share of the electric vehicle charging stations market during the forecast period. AC chargers are less expensive, convenient, and require less modification or upgrades as they work on 120V or 240 V AC, which is same as that used for residences. Thus, a majority of EV owners prefer AC chargers over DC fast chargers.
“Market for public charging stations expected to grow at the highest CAGR between 2016 and 2022”
The demand for public charging stations is increasing in the market. These public charging stations are located at on-street parking lots, taxi stands, retail stores, government offices, and parking lots of work places, hotels, airports, shopping malls, fast food restaurants, and coffee shops. Some public charging stations offer free charging and others could charge a fee.
“APAC expected to be the largest market for electric vehicle charging stations during the forecast period”
APAC is expected to lead the electric vehicle charging stations market between 2016 and 2022. The growth is attributed to high EV infrastructure spending and the increasing use of electric vehicles to reduce greenhouse gas emissions. Further, governments in the region are investing a large amount for the R&D related to EVs and the expansion of the charging infrastructure as a key for a transformation to a “low carbon society”.
Major players involved in the development of electric vehicle charging stations include ABB Ltd. (Switzerland), AeroVironment Inc. (U.S.), ChargePoint Inc. (U.S.), Delphi Automotive Plc.(U.K.), Eaton Corp. Plc. (Republic of Ireland), Elektromotive Limited (U.K.), GE Company (U.S.), Pod Point Ltd. (U.K.), Schneider Electric SE (France), SemaConnect Inc. (U.S.), Siemens AG (Germany), and Tesla Motors Inc. (U.S.).
This research report categorizes the electric vehicle market on the basis of vehicle type and region; and describes the electric vehicle battery market on the basis of types. This research report categorizes the global electric vehicle charging stations market based on charging station, connector type, location, and region. This report describes the drivers, restraints, opportunities, and challenges for the growth of the electric vehicle charging stations market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the electric vehicle charging stations market.
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India