New York, November 12, 2021 (GLOBE NEWSWIRE) – Market overview of charging stations for electric vehicles: According to a comprehensive research report by Market Research Future (MRFR), “Electric Vehicle Charging Stations Market Research report based on information by charging station (AC charging station, DC charging station and inductive charging station), plug type (CHAdeMO, combined charging system and others), installation type (residential and commercial), vehicle type (Battery Electric Vehicle (BEV)) and plug-in hybrid Vehicle (PHEV) and region – forecast to 2030 “ The market is projected to be valued at $ 155.49 billion by 2030, which is a CAGR of 41.79% over the forecast period (2022-2030). The market was valued at $ 18.25 billion in 2021.
List of Companies Profiled in Global Electric Vehicle Charging Station Market research report includes:
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The global market for charging stations for electric vehicles is both fragmented and competitive for the presence of various international and domestic industry players. Players have employed myriad innovative strategies to stay on top and also address growing customer needs, including contracts, collaborations, partnerships, contracts, joint ventures, product launches, geographic expansions, and more. In addition, they invest in various research and development activities.
Market research future report on the Electric Vehicle Charging Station Market
driver
Increasing adoption of electric vehicles to fuel market growth
The increasing adoption of electric cars around the world will fuel market growth over the forecast period. Due to environmental issues, favorable initiatives, and government policies, the use of electric vehicles in various regions is significantly increasing the demand in the electric vehicle charging station market. Electric vehicles help to lower the operating price of use compared to the steep rise in gasoline prices. Manufacturers are developing electric vehicles with longer useful lives and better battery life, which is fueling market growth.
The story goes on
Opportunities
More convenient charging stations offer robust options
The increase in convenience charging stations offers robust market opportunities in the forecast period. The rapidly growing EV market is driving innovation in electric vehicle technology and related infrastructure. Electric vehicles offer several advantages such as reduced emissions from tailpipes and lower fuel consumption, which has met their needs around the world. This in turn will increase the need for charging stations for electric vehicles. Charging stations are being developed rapidly as part of government initiatives and electric vehicle manufacturers are participating in the development of charging points in parking garages. These manufacturers are keen to set up charging stations for electric vehicles in order to improve sales of electric vehicles.
Restrictions
High costs as a market restriction
The high costs that are included in the initial investment for fast charging, the need for better batteries and the longer charging time of electric vehicles compared to vehicles with fossil fuels, especially when charging levels 1 and 2, can act as market reluctance in the forecast period.
challenges
Charge compatibility as a market challenge
The inconsistent charging compatibility and the current trend that the prices and network capacity of electric vehicles are higher than those of their fossil fuel counterparts may pose a market challenge in the forecast period.
Search through the detailed market research report (188 pages) Charging station for electric vehicles
https://www.marketresearchfuture.com/reports/electric-vehicle-charging-station-market-5401
Market segmentation
The Electric Vehicle Charging Station market is segmented by the charging station, plug type, installation type, and vehicle type.
When it comes to charging stations, the DC charging station will be the market leader in the forecast period.
By connector type, the market for charging stations for electric vehicles is divided into combined charging systems, CHAdeMO and others.
By installation type, the commercial segment will dominate the market during the forecast period.
In terms of vehicle type, the plug-in hybrid vehicles (PHEV) segment will have the lion’s share of the market in the forecast period.
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Regional analysis
APAC remains a pioneer in the electric vehicle charging station market
The APAC region will remain the frontrunner in the EV charging market during the forecast period. Effective initiatives by the governments of Singapore, India, Japan and China, extensive growth of the electric vehicle charging network in China, the growing need for low-cost electric vehicles for everyday use, governments promoting electric vehicles, China’s rapidly growing economy, expansion of advanced technologies for improvement electrification, investments to improve the charging infrastructure, measures to improve the number of charging points for electric vehicles in their countries, far-reaching and concrete advantages of electric vehicles, such as and increased energy security, ongoing investments by various countries in robust charging infrastructure in parking garages, public buildings and shopping malls, the presence of huge production facilities in India and China, and improved government subsidies are contributing to the worldwide charging of electric vehicles with station market growth in the region.
Segmentation of the Market Covered In Research:
Market research report electric vehicle charging station: Information by charging station (AC charging station, DC charging station and inductive charging station), plug type (CHAdeMO, combined charging system and others), installation type (residential and commercial), vehicle type (battery electric vehicle (BEV) and plug-in Hybrid Vehicle (PHEV) – Global Forecast to 2030
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