Electric Vehicle Charging Stations Market

ChargePoint (US) and Tesla (US) are the Leading Players in the Electric Vehicle Charging Stations Market

The electric vehicle charging stations market has been witnessing significant growth post the widespread adoption of electric vehicles (EVs) globally. Customers are choosing EVs as it offers an excellent option for fossil fuel powered vehicles, resulting in increased installation of electric vehicle charging stations. The electric vehicle charging stations market is expected to be worth USD 30.41 Billion by 2023, at a CAGR of 41.8% between 2018 and 2023.

Key players in the electric vehicle charging stations market, namely, ChargePoint (US), Tesla (US), ABB (Switzerland), Engie (France), and AeroVironment (US) are focusing on product launch and development, expansion, contract and acquisition, and collaboration and partnership strategies to enhance their product offerings and expand their business globally.

ChargePoint is one of the leading players in the electric vehicle charging stations market. The company maintains and operates the world’s largest open EV charging network. Moreover, ChargePoint is one of the few EV charging companies, which designs and develops its own EV charging hardware and software. To further strengthen its leadership position, the company adopts strategies such as strategic partnerships and acquisitions to expand its charging network globally. In the recent past, ChargePoint has established partnerships with local EV charging network providers to expand its network in Europe. For instance, in November 2017, ChargePoint partnered with Technical Services Group (TSG) to install EV charging stations in Europe.

Tesla is engaged in designing and developing electric cars and DC fast charging stations for its customers. Tesla is recognized to revolutionize the electro mobility ecosystem by manufacturing all electric production cars. The company’s cutting-edge battery technology and electric powertrain, coupled with a rapidly growing fast charging network, has contributed in becoming one of the leading players in the electric vehicle charging stations market. Tesla’s ambitious plan of increasing the production rate of its EV and expanding its supercharger network globally is going to strengthen its leadership position in the electric vehicle charging stations market. The company mainly focuses on forming strategic partnerships with other companies to expand its EV charging infrastructure. For instance, in July 2016, Tesla entered into a partnership with Ruby Tuesday (US), a leading multinational foodservice retailer. Ruby Tuesday will be opening a series of supercharger stations in the premises of its restaurants spread across the world, starting from Missouri, US.

ABB is also one of the key players in the electric vehicle charging stations market and has pioneered the fast charging technology through its 3 years of experience in electrical infrastructure products. Apart from offering EV charging equipment, the company offers specialized after-sale services to ensure uninterrupted vehicle charging to its customers. ABB’s charging stations are compatible with 3 international charging standards such as CHAdeMO, Combined Charging Solution (CCS), and Type 2 AC charging. Therefore, ABB’s charging stations are suitable for charging all type of EVs in the market. As of October 2017, the company installed over 6,000 DC fast charging points in many countries, making it one of the leading fast charging infrastructure providers in the world.

Other companies in the electric vehicle charging stations market are Schneider Electric (France), Siemens (Germany), Efacec (Portugal), EVgo (US), Leviton (US), Alfen (Netherlands), Allego (Netherlands), Blink Charging (US), Clipper Creek (US), SemaConnect (US), and TGOOD (Hong Kong).

Related Reports:

Electric Vehicle Charging Stations Market by Charging Station (AC Charging Station, DC Charging Station), Installation Type (Residential, Commercial), and Region (North America, Europe, Asia Pacific, and Row) - Global Forecast to 2023

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Report Code
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