Need of Carbon Emission Reduction Expected to Surge the Growth of the Global EV Charging Infrastructure Market by the end of 2026 - Exclusive Report [213 Pages] by Research Dive

Global EV charging infrastructure market is expected to experience a significant growth during the forecast period. AC charging system segment is expected to earn the highest share. Level 3 (300-600V) charging segment is predicted to be the most lucrative. Private Segment is predicted to become the most Profitable. Asia-Pacific is expected to dominate the market.

New York, USA, May 10, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global EV charging infrastructure market is expected to garner a revenue of $18,589.0 million and exhibit a CAGR of 34.9% by 2026. 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.

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Dynamics of the Market

The main attributors of the global EV charging infrastructure market include the innovations in EV along with supportive government policies are anticipated to boost the growth of market. For instance, Government of India has recently approved 2,636 EV charging infrastructures in 62 cities across 24 states and Union Territories.

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Expert technicians are required for the installation of EV charging infrastructure. This factor is predicted to restrain the growth of global EV charging infrastructure industry. The invention of solar power-based charging station solutions are projected to create many opportunities for the global market in upcoming years.

Segments of the Market

The report has divided the market into different segments based on type, charging level, application, and regional outlook.

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AC Charging System Segment is Expected to earn the Highest Share

AC Charging System segment is forecasted to account for $7,900.3 million by 2026, increasing from $674.9 million in 2018. The AC charging system provides low-cost AC charging station feeding power directly from the electric grid to the electrical vehicles. This is the factor behind the growth of the market segment.

Level 3 (300-600V) Charging Segment is Predicted to be the Most Lucrative

Level 3 (300-600V) charging sub-segment is expected witness a significant growth surpassing $5,688.4 million by 2026. The segment accounted for $487.0 million in 2018.

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Private Segment is Predicted to become the Most Profitable

Private segment is anticipated to garner a revenue of $10,855.9 million by 2026, increasing from $1,067.6 million in 2018. The EV private owners are consistently looking for setting up efficient charging stations in their parking and garages as per their convenience. This factor is helping the growth of the market.

Asia-Pacific is Expected to Dominate the Market

The Asia-Pacific regional market is expected to experience substantial growth during the forecast period. The market recorded a revenue of $538.9 million in 2018 and is further anticipated to account for $5,762.6 million during the forecast period. The popularity and demand of electric vehicles in the Asia-Pacific countries are the major contributing factors behind its growth.

Key Players of the Market

1. ABB
2. Eaton.
3. ChargePoint, Inc.
4. ClipperCreek, Inc.
6. Honeywell International Inc.
7. Rittal GmbH & Co. KG
8. Pod Point
9. Leviton Manufacturing Co. Inc.
10. Tesla.

These players are currently focusing on R&D activities, mergers, acquisitions, partnerships and collaborations to sustain the growth of the market. For instance, in September 2020, ChargePoint, Inc., a leading electric vehicle charging network signed a definitive agreement with Switchback Energy Acquisition Corporation, a publicly traded special purpose acquisition company. This agreement was made with a strategic focus on the energy sector.

The report also provides an overview of 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.


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