New York, USA, Oct. 12, 2020 (GLOBE NEWSWIRE) -- As per a latest report published by Research Dive, the Global EV Charging Infrastructure Market is anticipated to garner a revenue of $18,589.0 million by 2026, increasing from $1,700 million in 2019.
The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Get More Market Insight Information, Download a Sample Copy of the Report at - https://www.researchdive.com/download-sample/83
Market Dynamics
The technological advances in electric vehicles and increasing awareness regarding the importance of reduction of carbon emission are the major driving factors of the EV charging infrastructure market. Moreover, supportive policies by the governments and increasing investments are other factors contributing to the growth of the market.
The installation process of EV charging devices needs expert technicians. Apart from this, the cost of such infrastructure is quite high. These are the factors restraining the growth of the global market.
The newly developed solar power-based charging station solutions are expected to create many opportunities for the EV charging infrastructure market.
The report has divided the market based on type, charging level, application, and regional analysis.
Connect to Our Analyst and know How COVID-19 Impact the EV charging Infrastructure Market - https://www.researchdive.com/connect-to-analyst/83
AC charging system segment will become the most lucrative
AC Charging System for EV Charging Infrastructure market garnered a revenue of $674.9 million in 2018 and is further predicted to generate a revenue of $7,900.3 million during the forecast period. The main reason behind this growth is that this charging system provides low-cost AC charging station generating directly from the electric grid to the electrical vehicles.
Level 3 (300-600V) charging segment will become the most profitable
Level 3 (300-600V) segment is predicted to witness a significant growth with a revenue of $5,688.4 million by 2026, rising from $487.0 million in 2018 during the forecast period.
Private segment will earn the highest revenue
Private segment is expected to experience a significant growth of $10,855.9 million by 2026. The EV owners are consistently planning to construct efficient charging stations in their parking and garages, as per their convenience. Moreover, widespread adoption of EVs is also considered as a major factor that is making a significant impact on the growth of global market.
Asia-Pacific region will garner the highest revenue
The Asia-Pacific market generated a revenue of $538.9 million in 2018 and is further anticipated to generate a revenue of $5,762.6 million during the forecast period. The transition to EV’s is progressing swiftly as these electric vehicles help to tackle climate change.
Key Players and Business Strategies
1. ABB
2. Eaton.
3. ChargePoint, Inc.
4. ClipperCreek, Inc.
5. GENERAL ELECTRIC
6. Honeywell International Inc.
7. Rittal GmbH & Co. KG
8. Pod Point
9. Leviton Manufacturing Co. Inc.
10. Tesla.
The report also recapitulates many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here To Get Absolute Top Companies Development Strategies Summary Report