17th September 2018 – The global demand for electric vehicle charging station is on an upward trajectory because of ushering in of Plug-in vehicles from esteemed automotive manufacturers. The automotive segment is displaying increased flexibility in price structure of PEV vehicles and scaling-up of infrastructure has placed Electric Vehicle Charging Station Market at top. Industry will usher in a change in market dynamics placing importance to energized charging cycles and interoperability restrictions amongst charging stations in catering to all electric vehicles.
Battery driven electric vehicles market are displaying encouraging signs of growth in what was formerly a static industry and is now gaining lost ground due to advancements in electric engine models. BEV vehicles are dedicated battery-equipped electric vehicles and Plug-in hybrid electric vehicles (PHEV) come with a battery and an Internal Combustion (IC) engine backing-up on the rear. Both have differing driving patterns and PHEV’s do not level up to BEV’s that are more costly than PHEV’s driven with a battery back-up.
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Growth in electric vehicle charging station market is profusely laden with entry of BEV vehicles that conduct a fuel-free operation resulting in incremental savings in fuel and maximization of profits. BEV’s are attributed with faster acceleration, smooth transmission and is maintenance-free in comparison to I.C engines enhancing growth in electric charging station market.
AC charging stations are preferred over DC charging stations and are projected to lead industry vertical attributing growth to convenience in being an installation devoid of additional alterations and no encumbrances, working on a 120-230V AC home supply. Public charging stations are gaining ground over private charging stations with installations in taxi-stands, airports, fast-food cafes, bistros and parking lots. Asia pacific is leading industry growth in electric vehicle charging station market due to necessary steps taken in restructuring society by way of green zone manifestation.
Copious investments by government in charging stations that register low-carbon imprints and instruct progressive society living enhances growth in electric vehicle charging station market. Segmentation of electric charging station market by connector includes chademo, CSS and others. Segmentation of electric charging station market by end-user includes residential EV charging stations and public EV charging stations. Segmentation of electric vehicle charging station market by region includes North America, Europe, Asia Pacific, MEA and Lain America. North America leads market growth in electric vehicle charging station market by compounded annual growth projected to be in region of 40% CAGR in forecast period.
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Asia pacific held highest shares in market growth and is a reputed regional player in global markets. Subsidies in form of reduced road-tax are a market driver to growth in electric vehicle charging station market. Presence of many players, both big and small in the market is suggestive of a fragmented market in electric vehicle charging station market. An observed demand for growth in electric vehicles will increase market for electric charging station market.
A reduced cost-structure and eco-friendly margins displayed will augment growth in electric vehicle charging station market. Growing environmental concerns will tip the scales in favor of growth in electric vehicle charging station market. As per news, demand in electric charging stations is proportionate to sales of electric vehicles and considering cost-effectiveness and eco-friendliness of electric vehicles is a boosting market growth.
Global Electric Vehicle Charging Station (EVCS) market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- ABB Ltd.
- Leviton Manufacturing
- Plugin Now (Bosch Group)
- Evatran Group (Plugless)
- Siemens AG
- Delphi Automotive
- POD Point
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
- Commercial Building
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