Global Electric Vehicle Charging Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Electric Vehicle Charging Services Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global electric vehicle charging services market report has been segmented on the basis of charging station, application, vehicle type, and region.
Global Electric Vehicle Charging Services Market: Overview
Electric vehicle charging services, also known as electric vehicle charging station or electric vehicle supply equipment (EVSE), is an infrastructure which allows to charge battery of the vehicles. It is a free standing or safely attached to the ground or to some stationary object such as a building.
Global Electric Vehicle Charging Services Market: Dynamics
Favorable government initiatives including funding, subsidies, and incentives, along with high investments from automakers are some of the factors expected to support growth of the target market subsequently. Moreover, growing demand for electric vehicles and shifting preference towards promoting ecofriendly and economical mode of transportation, along with increasing environmental concerns are some major factors expected to boost demand for electric vehicles market and electric vehicles charging services market over the forecast period.
In addition, increasing R&D activities by manufacturers for advanced charging stations with better charging capabilities and less charging time is anticipated to create new opportunities in terms of revenue for players operating in the global market.
However, high cost of electric vehicle as compared with internal combustion engine may hamper demand for the products and restrain growth of the global market.
Latest trends observed in the global market is, major players are focusing to provide free charging facility to electric vehicle owners. Another rising trend is manufacturers are focusing on lowering production cost of electric vehicles along with advanced models.
Global Electric Vehicle Charging Services Market: Segment Analysis:
Among the charging station segments, the DC charging station segment is expected to account for significant revenue share in the global market.
Among the application segments, the commercial segment is estimated to account for major revenue share, and is projected to maintain its dominance over the forecast period
Among the vehicle type segments, the battery electric vehicle (BEV) segment is anticipated to register significant growth rate over the forecast period.
Global Electric Vehicle Charging Services Market: Regional Analysis:
Asia Pacific electric vehicle charging services market is expected to account for largest market share in the global market in terms of revenue. Increasing investment in infrastructure development for charging stations and government initiatives regarding lowering dependency on fossil fuel, which expected to play an important role for growth of the market in the region. Initiatives such as preferential vehicle licensing system, EV subsidies offered in developing countries, and Made in China 2025, etc. are anticipated to have a positive impact on growth of the global market. In addition, increasing research & development activities, reducing carbon emissions by electrifying transportation are some of the major growth drivers of electric vehicle charging services market. Growth of Europe electric vehicle charging services market can be attributed to the presence of automotive manufacturers and increasing usage of electric vehicles, along with increasing awareness towards environment concerns in this region.
Global Electric Vehicle Charging Services Market Segmentation
Segmentation by Charging Station:
- AC Charging Station
- DC Charging Station
- Inductive Charging Station
Segmentation by Application:
Segmentation by Vehicle Type:
- Battery Electric Vehicle (BEV)
- Plug–In Hybrid Vehicle (PHEV)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Aerovironment Inc.
- Tesla, Inc.
- Schneider Electric SE
- Siemens AG
- EFACEC Power Solutions
- Leviton Manufacturing Company, Inc.
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