Electric Vehicle Charging Infrastructure Market to Grow at 31.22% CAGR by 2026
Continuous increase in pollution and increasing demand for
electric vehicles all around the world to drive the Global Electric Vehicle
Charging Infrastructure market through 2026.
According
to TechSci Research report, “Global Electric Vehicle
Charging Infrastructure Market By Vehicle Type (Two
Wheeler, Four Wheeler and Commercial Vehicle), By Type (AC and DC), By Charging
Mode (Plug-in and Wireless), By Installed Location (Residential and
Commercial), By Connector Type (Uk 3-Pin, Industrial Commando, Type 1, Type 2, CHAdeMO,
CCS, Tesla’s proprietary supercharger connectors), By Type of Charging ( Slow
and Fast), By Region, Competition, Forecast & Opportunities, 2026”, the Global Electric Vehicle Charging Infrastructure market
is anticipated to reach USD36.72 billion by 2026 because of continuously rising pollution levels all around the world and
increasing demand for electric vehicle globally. The significant market growth
is primarily due to the rising number of initiatives undertaken by both public
as well as private sectors to encourage the population to switch to EVs. The
governments all around the world are creating awareness among their citizens to
use electric vehicles rather than other fuel-based vehicles to reduce pollution
level in their respective countries. The step taken by the governments is showing
a good result, as the demand for electric vehicles is increasing rapidly. Fuels
like petrol, diesel, etc. increase the pollution level in the atmosphere by
releasing harmful gases like carbon monoxide. However, with electric vehicles,
the chances of polluting atmosphere reduce as these vehicles use battery to
power themselves, hence reducing vehicle emissions. Electric vehicles not only
decrease the pollution levels but also have inexpensive ownership costs. As the
demand for electric vehicles are increasing, it is important to develop or
setup new EV charging stations to overcome the shortage of charging stations.
Browse more than 215 market data Figures spread through 110 Pages and an in-depth TOC on "Global Electric Vehicle Charging Infrastructure market"
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Global Electric Vehicle Charging Infrastructure market can be segmented
based on vehicle type, by type, by charging mode, by installed location, by
connector type and by type of charging. On the basis of vehicle type, the
market can be classified into two-wheeler, four-wheeler and commercial vehicle.
Based on vehicle type, electric two-wheelers have the majority of share because
of high fluctuation in petrol prices all around the world. Owing to large share
of two wheelers, the charging stations are also more for two wheelers than four
wheelers. In the forecast period, two-wheeler charging infrastructure is
expected to dominate over four-wheeler, but the four-wheeler is expected to
show a good year-on-year growth. Based on type, AC charging stations are more
than DC because of low power consumption and less costly to setup. However, due
to more charging time, it is expected that the DC charging station will show a
good growth in forecast period. By charging mode, plug-in charging stations are
more than 95% and it is expected that it will dominate the wireless charging
station with almost same amount of share. By installed location, commercial EV
charging station dominates the residential EV charging station because the cost
of installation is more for residential EV charging station than commercial
charging station. Due to increasing fleet of electric vehicle, it is expected
that residential EV charging station will increase in the forecast period at a
good year-on-year growth, but commercial EV charging station remains dominant
in the future as well. Based on type of charging, the slow EV charging stations
are more than fast charging stations. However, as the fleet of electric vehicle
increases, the demand for fast charging station will also increase. Hence, it
is expected that in the forecast period, fast charging stations will increase
and the margin of share between slow and fast will decrease rapidly.
Major players operating in the global Electric
Vehicle Charging Infrastructure market are TGOOD Global Ltd., ChargePoint, Inc. EVBox, ABB etc., are
among some
of the leading players operating in the global Electric Vehicle Charging
Infrastructure market. Apart from these companies, Tesla, Webasto Group, Siemens AG, Schneider Electric, Eaton and Royal
Dutch Shell plc. are key
players are developing advanced technologies and
launching new products to stay competitive in the market. Other competitive
strategies include mergers and acquisition, new product developments and also increasing their marketing activities and
enriching product portfolio globally to increase their customer outreach.
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“In 2020, Asia-Pacific accounted for the largest share, i.e., 64.71% in the
global Electric Vehicle Charging Infrastructure market and it is expected to
dominate in the forecast period also. Asia-Pacific is leading the global Electric
Vehicle Charging Infrastructure market because of increase fleet of electric vehicles
in China. China itself has a share of approximately above 50% in the global Electric
Vehicle Charging Infrastructures sales.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Electric Vehicle Charging Infrastructure
Market By Vehicle Type (Two Wheeler, Four Wheeler and Commercial Vehicle), By
Type (AC and DC), By Charging Mode (Plug-in and Wireless), By Installed
Location (Residential and Commercial), By Connector Type (Uk 3-Pin, Industrial
Commando, Type 1, Type 2, CHAdeMO, CCS, Tesla’s proprietary supercharger
connectors), By Type of Charging (Slow and Fast), By Region, Competition,
Forecast & Opportunities, 2026” has evaluated the future growth potential of the Global
Electric Vehicle Charging Infrastructure market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
Global Electric Vehicle Charging Infrastructure Market.
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