Electric Vehicle (EV) Charging Station Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40837
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The electric vehicle (EV) charging station market size has the potential to grow by USD 22.02 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 30.69%. 

This report provides a detailed analysis of the market by type (AC and DC) and geography (APAC, Europe, North America, MEA, and South America). 

Electric Vehicle (EV) Charging Station Market Share

Electric-Vehicle-(EV)-Charging-Station-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • ABB Ltd.
  • ChargePoint Inc.
  • ENGIE SA
  • EV Safe Charge Inc.
  • EVgo Services LLC
  • Leviton Manufacturing Co. Inc.
  • Schneider Electric SE
  • Siemens AG
  • Tesla Inc.
  • Webasto SE

 

The EV charging station market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increasing sales of BEVs and PHEVs to achieve growth opportunities. However, factors such as lack of standardization in EV charging infrastructure will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the electric vehicle charging station market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This electric vehicle charging station market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Electric Vehicle (EV) Charging Station Market: Key Drivers and Trends

  • Advances in electric vehicle technologies, improvement in charging infrastructure, and improving socio-economic conditions fuel the demand for BEVs and PHEVs, which in turn, increases the adoption of EV charging stations.
  • With growing concerns over environmental pollution and the depleting conventional sources of energy, government bodies are promoting the use of EVs.
  • The government support is in the form of reduced taxes, funding, or an easier and simple installation of EV charging stations at various public stations, residential, and commercial sectors.
  • Government bodies in various markets are providing subsidies and incentives for using EV charging solutions which boosts the sales of BEVs and PHEVs.
  • The increase in sales of BEVs and PHEVs will influence the growth of the EV charging station market during the forecast period.
  • The development of smart grids for EV charging, one of the critical electric vehicle charging station market trends, will support the broader deployment of variable generation technologies.
  • It provides real-time information on load requirements and power quality to the operators and includes grid applications such as smart energy meters, supervisory control, and data acquisition (SCADA) systems, IT, and other communication systems.
  • Energy companies and other utilities engaged in the energy generation process are making continuous efforts to accommodate low-carbon fuels by altering the functionalities of grids.
  • Decentralization is promoting the use of EVs as the device for transferring power to the grid. Therefore, a cluster of EVs connected to the grid and their participation in the grid services serves as a distributed energy storage source, making them low-cost energy storage technology.

 

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Electric Vehicle (EV) Charging Station Market: Segmentation by Geography

Electric-Vehicle-(EV)-Charging-Station-Market-Market-Share-by-Region-2020-2025

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46% of the market’s growth will originate from APAC during the forecast period. China is a key market for electric vehicle charging stations in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The high sales of BEVs and PHEVs in China, Singapore, Japan, and South Korea will facilitate the electric vehicle charging station market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Electric Vehicle (EV) Charging Station Market: Segmentation by Type

Electric-Vehicle-(EV)-Charging-Station-Market-Market-Share-by-Type-2020-2025

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The electric vehicle charging station market share growth by the AC segment will be significant during the forecast period. Compared with DC charging stations, AC charging stations require less infrastructure. AC charging stations typically require low set-up cost, installation cost, and maintenance cost, forming a key factor for the increasing installation of AC charging stations.

Fetch actionable market insights on post COVID19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the electric vehicle charging station market size.

 

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Key Highlights of the Electric Vehicle (EV) Charging Station Market Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electric vehicle charging station market growth during the next five years
  • Precise estimation of the EV charging station market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric vehicle charging station industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric vehicle charging station market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The electric vehicle (ev) charging station market growth will increase by $22022.44 million during 2020-2025.
The electric vehicle (ev) charging station market is expected to grow at a CAGR of 30.69% during 2020-2025.
Technavio has segmented the electric vehicle (ev) charging station market by type (AC and DC) and geographic (APAC, Europe, North America, MEA, and South America).
ABB Ltd., ChargePoint Inc., ENGIE SA, EV Safe Charge Inc., EVgo Services LLC, Leviton Manufacturing Co. Inc., Schneider Electric SE, Siemens AG, Tesla Inc., Webasto SE are a few of the key vendors in the electric vehicle (ev) charging station market.
APAC will register the highest growth rate of 46.06% among the other regions. Therefore, the electric vehicle (ev) charging station market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the electric vehicle (ev) charging station market growth are:
  • Increasing number of M&A and strategic partnerships
The electric vehicle (ev) charging station market vendors should focus on grabbing business opportunities from the ac segment as it accounted for the largest market share in the base year.
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