New York, NY -- (SBWIRE) -- 11/26/2020 -- Electric Vehicle Charging Infrastructure Market To Reach USD 147.94 Billion By 2030

A paradigm shift towards electric vehicles and high investments by automakers in EV charging infrastructure is stimulating industry growth.

Electric Vehicle Charging Infrastructure Market Size – USD 3.64 Billion in 2019, Market Growth - CAGR of 38.6%, Market Trends –High demand from the APAC region.

The Global Electric Vehicle Charging Infrastructure Market size was valued at USD 3.64 billion in 2020 and is forecast to reach USD 147.94 Billion, exhibiting a growth rate of 38.6% through 2030. The demand for electric vehicle charging infrastructure is driven by the growing adoption of electric vehicles across the globe. A major chunk of the population in nations like Norway, China, Germany, the UK, and others, are increasingly switching to electric vehicles, thereby prompting automotive manufacturing firms to invest in EV charging infrastructure.

Various automotive firms such as Tesla, BMW, ChargePoint, Inc., Volkswagen Group, and others are installing charging stations in places like movie theatres, stadiums, shopping malls, airports, and hotels public to expand public charging infrastructure gradually.

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The dramatic reduction in GHG gas emissions, pollution levels resulting in climate change impacts, and lesser fuel consumption by the transport sector with the usage of EV are the advantages, which may further boost the product adoption. Moreover, large-scale adoption of these vehicles to curb air pollution and emission of GHGs in Europe and APAC countries will foster electric vehicle charging infrastructure industry share through 20230. Furthermore, positive government initiatives supporting EV adoption will boost market trends over the forecast period. The EV30@30 project is one such policy that emphasizes the widespread adoption of EVs. Under the project, EV sales are likely to reach 44 million vehicles per year by the end of 2030.

The COVID-19 impact:

The COVID 19 pandemic has affected the global market by directly affecting production and demand and by also creating disruption in supply chains. The production lines in most electric car plants across the globe are at a standstill. This has negatively impacted the growth in the EV charging infrastructure industry as well. Industry players like Ubitricity and Pod Point, are postponing their plans for charging point installations in the UK. Several implications of the pandemic on product manufacturers and industries involved in the supply chain are covered in this research report.

Further key findings from the report suggest:

On the basis of charging level, the level 1 (120 V) segment is likely to witness heavy demand as all the electric vehicles come with a 120 V level 1 portable charger. These chargers do not require any special installation and can be plugged into a simple household outlet.
On the basis of vehicle type, the electric bikes segment is estimated to contribute significantly to the EV charging station market revenue share due to increased demand in several tourist destinations and places with heavy traffic.

Based on application, the pubic segment is likely to hold a major chunk of the EV charging infrastructure market share over the forecast period. The robust growth can be attributed to the rise in collaborations among automotive companies and public transport agencies for setting up charging stations for electric buses and other public transportation systems.

In the regional landscape, Europe is anticipated to witness a growth rate of 37.5%, generating revenue close to USD 30,919.5 million by the end of 2030.

The Asia Pacific region is contributing to a significant sale of electric vehicles due to pressing environmental concerns related to pollution and traffic congestion. Nearly 56% and 37% of the sales are coming from East Asia and Southeast, respectively. The APAC region held a major chunk of the electric vehicle charging infrastructure market share in 2019 and is poised to exhibit a CAGR of 39.6% through 20230.

Some of the leading electric vehicle charging station manufacturers are EV Connect, Chargepoint, Inc., Tesla Inc., ABB Ltd., BP Chargemaster, Semaconnect Network, EVGO Services LLC, and Greenlots, among others.

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For the purpose of this report, Reports and Data has segmented the global electric vehicle charging station market on the basis of infrastructure provider, charging infrastructure type, charging level, vehicle type, installation type, application, and region:

Infrastructure Provider Outlook (Revenue, USD Million; Volume, Thousand Units; 2017-2030)
Charging Point Operator (CPO)
E-Mobility Service Provider (EMSP)
Charging Hubs

Charging Infrastructure Type Outlook (Revenue, USD Million; Volume, Thousand Units; 2017-2030)
CCS
CHADEMO
Normal Charging
Tesla Supercharger
TYPE-2 (IEC 62196)

Charging Level Outlook (Revenue, USD Million; Volume, Thousand Units; 2017-2030)
Level 1 (120 V)
Level 2 (208 V – 240 V)
Level 3 (UPTO 600 V)

Vehicle Type Outlook (Revenue, USD Million; Volume, Thousand Units; 2017-2030)
Electric bike
Plug-in hybrid PHEV
EV passenger cars
Heavy delivery vans
Others

Installation Type Outlook (Revenue, USD Million; Volume, Thousand Units; 2017-2030)
Portable Charger
Fixed Charger

Application Outlook (Revenue, USD Million; Volume, Thousand Units; 2017-2030)
Public
Private

Regional Outlook (Revenue, USD Million; Volume, Thousand Units; 2017-2030)
North America
Europe
Asia Pacific
MEA
Latin America

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/electric-vehicle-charging-infrastructure-market

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