Redding, California, July 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Electric Vehicle Charging Stations Market by Charging Type (Level 1, Level 2, DC Fast Charging), Connection Type, Component, Mounting Type (Wall, Pedestal, Ceiling), Vehicle Type, End User, and Geography - Global Forecasts to 2030,’ the global electric vehicle charging stations market is projected to reach $159.7 billion by 2030, at a CAGR of 28.9% from 2023 to 2030.
Electric vehicle charging stations are defined as a site where one or more EVSEs are installed. These sites can be residential, non-residential, or commercial. Electric vehicle charging stations provide electric power to the vehicle and use that to recharge the vehicle's batteries. An electric vehicle charging station, commonly called a charging dock, charging pile or EVSE, includes the electrical conductors, related equipment, software, and communications protocols that deliver energy efficiently and safely to the vehicle.
Download Free Report Sample Now: https://www.meticulousresearch.com/download-sample-report/cp_id=5078
The growth of the electric vehicle charging stations market is driven by government initiatives to promote EV adoption and the development of associated infrastructure, the rising demand for EV fast-charging infrastructure, the growing implementation of vehicle-to-grid charging stations, and the increasing EV deployment by shared mobility operators. However, the high installation costs of EV charging stations restrain the growth of this market. The increasing adoption of electric mobility in emerging economies and the growing deployment of charging stations by retail MNCs are expected to generate growth opportunities for the players operating in this market. However, high electricity tariffs in developing countries are a major challenge for market growth. Additionally, electric vehicle charging stations powered by renewable energy are a prominent trend in this market.
The global electric vehicle charging stations market is segmented by component (hardware [electric vehicle supply equipment {EVSE}, electrical distribution systems, cable management systems], software [charging station management systems {CSMS}, interoperability solutions, open charge point protocol {OCPP}, smartphone applications]), services (maintenance services, system integration, and installation services); charging type (Level 1, Level 2, DC fast charging); connection type (pantograph, connectors, wireless charging [static wireless EV charging, dynamic wireless EV charging]); mounting type (wall mount, pedestal mount, ceiling mount); vehicle type (passenger cars, heavy commercial vehicles, light commercial vehicles, two-wheelers & scooters); end user (commercial EV charging stations [commercial public EV charging stations {on-road charging stations, parking space stations, destination charging stations}, commercial private EV charging stations {fleet charging, captive charging}], residential EV charging stations); and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on component, the global electric vehicle charging stations market is broadly segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the rising adoption of EVs, the increasing deployment of EV charging stations, and the increasing government initiatives aimed at electrifying public bus fleets and deploying associated charging infrastructure. However, the software segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by various factors, such as the increasing need for transparency in electricity consumption and demand charges, the growing need for managing EV fleets in real time, charging reports & insights, maintenance & support, and the increasing deployment of smart remote charging stations.
Have Any Query? Ask To Analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5078
Based on charging type, the global electric vehicle charging stations market is broadly segmented into Level 1, Level 2, and DC fast charging. In 2023, the Level 2 segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increased adoption of Level 2 chargers for residential and commercial applications. These chargers offer faster charging speeds than Level 1 chargers. Furthermore, government incentives and regulations aimed at promoting the installation of Level 2 chargers contribute to the significant market share of this segment. However, the DC fast charging segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as government rebates on the purchase of DC fast charging stations, increasing investments from automakers in the development of DC fast charging station infrastructure to support their long-range battery-electric vehicles, the need for significantly faster charging, and the increasing installation of DC fast chargers in public locations including highways, shopping centers, restaurants, and other high-traffic areas.
In terms of volume, in 2023, the Level 2 segment is expected to account for the largest share of the electric vehicle charging stations market. The large market share of this segment is attributed due to various factors such as government rebates on the purchase of DC fast charging stations, increasing investments from automakers towards the development of DC fast charging station infrastructure to support their long-range battery-electric vehicle, the need to provide significantly faster charging compared to Level 2 chargers, and increasing installation of DC fast chargers in public locations along highways, shopping centers, restaurants, and other high-traffic areas. However, the DC fast charging segment is projected to register the highest CAGR during the forecast period.
Based on connection type, the global electric vehicle charging stations market is broadly segmented into pantograph, connectors, and wireless charging. In 2023, the connectors segment is expected to account for the largest share of the global electric vehicle charging stations market. The growth of this segment is attributed to the increasing development and adoption of standardized connector types to ensure compatibility between charging stations and electric vehicles, the increasing need for faster charging connectors compatible with high-power DC fast charging, the growing need for reliable connectors to minimize the risk of electrical faults, overheating, and other potential hazards, and dynamic international standards and regulations for promoting a harmonized charging infrastructure worldwide. Moreover, the connectors segment is projected to register the highest CAGR during the forecast period.
Based on mounting type, the global electric vehicle charging stations market is broadly segmented into wall mount, pedestal mount, and ceiling mount. In 2023, the wall mount segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increasing use of either Level 1 or Level 2 electric vehicle supply equipment (EVSE) and the increasing need for high-speed charging in a compact, affordable, and scalable package. Moreover, the wall mount segment is projected to register the highest CAGR during the forecast period.
Quick Buy – Electric Vehicle Charging Stations Market- Global Opportunity Analysis And Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/41548876
Based on vehicle type, the global electric vehicle charging stations market is broadly segmented into passenger cars, heavy commercial vehicles, light commercial vehicles, and two-wheelers & scooters. In 2023, the passenger cars segment is expected to account for the largest share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increasing adoption of electric vehicles, environmental concerns and emission regulations, advancements in EV battery technology, and expansion of charging infrastructure networks. However, the two-wheelers & scooters segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by various factors, such as the increasing popularity of electric scooters and 2-wheelers, the rising need for cost-effective and nimble modes of transportation,
Based on end user, the global electric vehicle charging stations market is broadly segmented into commercial EV charging stations and residential EV charging stations. In 2023, the commercial EV charging stations segment is expected to account for the larger share of the global electric vehicle charging stations market. The large market share of this segment is attributed to the increasing adoption of electric vehicles in commercial fleets for cost savings and reduced emissions, government regulations and incentives for electric vehicle adoption in commercial fleets, infrastructure development for shared mobility services, and installations of commercial EV charging stations for cost savings and reduced emissions. Moreover, the commercial EV charging stations segment is slated to register the highest CAGR during the forecast period.
Based on geography, the electric vehicle charging stations market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global electric vehicle charging stations market in terms of volume and value. Asia-Pacific’s major market share is attributed to the growing demand for electric vehicles in countries such as China and Japan and the rising government initiatives to reduce greenhouse gas emissions, which, in turn, is poised to increase electric vehicle adoption. Moreover, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period.
The key players operating in the global electric vehicle charging stations market are ChargePoint Holdings, Inc. (U.S.), Tesla, Inc. (U.S.), BP p.l.c. (U.K.), EVgo Inc. (U.S.), Shell Plc (U.K.), Électricité De France (France), EVBox Group (Netherlands), Electrify America LLC (U.S.), AddÉnergie Technologies, Inc. (Canada), Connected Kerb Limited (U.K.), Hangzhou AoNeng Power Supply Equipment Co. LTD. (China), Webasto Group (Germany), EV Charging Installers of America LLC (U.S.), Wanbang Xingxing Charging Technology Co., Ltd. (China), ABB Ltd. (Switzerland), Siemens AG (Germany), and Blink Charging Co. (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/electric-vehicle-charging-stations-market-5078
Scope of the Report:
Electric Vehicle Charging Stations Market Assessment - by Component
- Hardware
- Electric Vehicle Supply Equipment (EVSE)
- Cable Management Systems
- Electrical Distribution Systems
- Software
- Charging Station Management Systems (CSMS)
- Smartphone Applications
- Open Charge Point Protocol (OCPP)
- Interoperability Solutions
- Services
- System Integration & Installation
- Maintenance
Electric Vehicle Charging Stations Market Assessment - by Charging Type
- Level 2
- DC Fast Charging
- Level 1
Electric Vehicle Charging Stations Market Assessment - by Connection Type
- Connectors
- Pantographs
- Wireless Charging
- Static Wireless EV Charging
- Dynamic Wireless EV Charging
Electric Vehicle Charging Stations Market Assessment - by Mounting Type
- Wall Mount
- Pedestal Mount
- Ceiling Mount
Electric Vehicle Charging Stations Market Assessment—by Vehicle Type
- Passenger Cars
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Two-wheelers & Scooters
Electric Vehicle Charging Stations Market Assessment - by End User
- Commercial EV Charging Stations
- Commercial Public EV Charging Stations
- On-Road Charging
- Parking Spaces
- Destination Chargers
- Commercial Private EV Charging Stations
- Fleet Charging
- Captive Charging
- Commercial Public EV Charging Stations
- Residential EV Charging Stations
Electric Vehicle Charging Stations Market Assessment - by Geography
- North America
-
- U.S.
- Canada
-
- Asia-Pacific
-
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Rest of Asia-Pacific
-
- Europe
-
- Germany
- U.K.
- France
- Italy
- Spain
- Norway
- Sweden
- Netherlands
- Denmark
- Rest of Europe
-
- Latin America
- Middle East & Africa
Request Free Report Sample Now: https://www.meticulousresearch.com/request-sample-report/cp_id=5078
Related Reports:
Battery Management Systems Market by Component (Hardware, Software), Topology (Centralized BMS, Modular BMS), Battery Types (Li-ion Battery, Lead-acid Battery), Application (Automotive, Industrial), and Geography - Global Forecast to 2030 https://www.meticulousresearch.com/product/battery-management-systems-market-5486
Wireless Electric Vehicle Charging Systems Market by Type (Dynamic, Static), Component (Base Pads, Vehicle Pads), Technology, Application, Vehicle Type (BEV, PHEV), Power Supply, End Use, Distribution Channel and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/wireless-electric-vehicle-charging-systems-market-5178
Electric Vehicle Adhesives Market by Vehicle Type (Electric Trucks, Electric Buses, Electric Bikes, Electric Cars), Resin (Epoxy, Silicon, Polyurethane, Acrylics, Others), Application, Form, Substrate, End Use and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/electric-vehicle-adhesives-market-5532
EV Battery Recycling Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors), Source (Commercial, Passenger), Process (Direct, Pyro, Hydro), Model (Contractual Services, Direct-to-Market), Material (Lithium), End User, and Geography—Global Forecasts to 2030
https://www.meticulousresearch.com/product/ev-battery-recycling-market-5483
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/243/electric-vehicle-charging-stations-market-2030
