Increasing investment by government across the globe to developed charging infrastructure for electric vehicles has created opportunities for OEMs is fueling the growth of the Global Electric Vehicle Charging Stations Market.
JERSEY CITY, N.J., Sept. 30, 2021 /PRNewswire/ — Verified Market Research recently published a report, “Electric Vehicle Charging Stations Market” By Vehicle Type (Series PHEV, Plug-in hybrid vehicle (PHEV), Parallel PHEV, and Battery electric vehicle (BEV)), By Charging Station (Super Charging, Normal Charging, and Inductive Charging), and By Geography. According to Verified Market Research, the Global Electric Vehicle Charging Stations Market size was valued at USD 3.18 Billion in 2020 and is projected to reach USD 32.34 Billion by 2028, growing at a CAGR of 33.64% from 2021 to 2028.
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Global Electric Vehicle Charging Stations Market Overview
An electric vehicle charging station is a component of infrastructure that is responsible for supplying electricity for the recharging of electric vehicles such as plug-in electric vehicles that includes electric cars, plug-in hybrids, and neighborhood electric vehicles. Electric stations also called as electric vehicle supply equipment, or EVSE.
Growing demand for the electric vehicle across the globe is major factor for driving growth of the Global Electric Vehicle Charging Stations Market. In addition, rising focus of government authorities on providing funds to original equipment manufacturers for developments of the charging stations is fueling the growth of the Global Electric Vehicle Charging Stations Market. Also, many automotive players are investing resources in introducing new and developing existing charging stations, which is boosting growth of the Global Electric Vehicle Charging Stations Market. Moreover, manufacturers are shifting their focus on developing new technologies as autonomous park and charge, ultra-fast DC charging network lithium-ion batteries and wireless charging as well, thus growing advancement is expected to drive the growth of the Global Electric Vehicle Charging Stations Market.
Key Developments in Electric Vehicle Charging Stations Market
- Schneider Electric's new SM AirSeT medium-voltage switchgear, free of greenhouse gases, are deployed in Milan depots' charging infrastructure for its bus fleet, which will be 100% electric.
- Bosch has announced faster charging, plug-in installation electric vehicle charging stations for North America.
The major players in the market are Schneider Electric, Tesla, ABB, BYD Auto, Yazaki, Bosch, Efacec Power Solutions, Mitsubishi Electric, Siemens and Engie.
Verified Market Research has segmented the Global Electric Vehicle Charging Stations Market On the basis of Charging Station, Vehicle-Type, and Geography.
- Electric Vehicle Charging Stations Market, By Vehicle-Type
- Series PHEV
- Plug-in hybrid vehicle (PHEV)
- Parallel PHEV
- Battery electric vehicle (BEV)
- Super Charging
- Normal Charging
- Inductive Charging
- North America
- Rest of Europe
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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Leading EV charging cable manufacturers charging the future of electric vehicles
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