LONDON, UK, March 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “EV Charging Adapter Market By User Type (Battery EV, Plug-in Hybrid EV, Fuel Cell EV, and Others), By Product Category (DC Fast, AC Level 1, and AC Level 2) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global EV Charging Adapter Market size & share was valued at around USD 320.24 Million in 2021 and is estimated to grow to about USD 4345.80 Million by 2028, with a compound annual growth rate (CAGR) of approximately 40.76% over the forecast period 2022 to 2028.”
The study examines the market's drivers, restraints, and challenges, as well as the impact they have on-demand throughout the forecast period. The paper also looks at new potential in the Electric Vehicle (EV) charging adapter market, as well as production, market share, key segments, and regional analysis (such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.)
What is EV Charging Adapter? How big is the EV Charging Adapter Market?
- Market Overview & Coverage:
Electric Vehicle (EV) adapters function as an EV coupler with the charging pole of the station, allowing power to be transmitted. The adapters aid in the connection of an EV's battery to the charging station's charging point. The electrical standards of EV connections are intended to be in sync with the properties of the battery supplied in an Electric Vehicle (EV).
The main goal of introducing the EV charging adapter is to save non-renewable energy sources by adopting energy conservation measures that safeguard the environment from pollution caused by fuel vehicles, as electric vehicles do not release hazardous gases. This advancement in the automobile business is a revolution; these electric vehicles are both eco-friendly and cost-effective. The idea of electric vehicles supports an environmentally friendly society; it will also rescue the ecosystem from global warming.
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(The free sample of this report is readily available on request).
Our Free Sample Report Includes:
- 2022 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 218+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Competitive Landscape
Some of the main competitors dominating the global EV charging adapter market are;
- Addenergie Technologies
- Eaton
- AeroVironment
- POD point
- Delphi Automotive
- Leviton Manufacturing
- Robert Bosch
- Signet Electronic Systems
- ChargePoint
- Efacec
- ABB
Key questions answered in this report:
- What is the size of the Electric Vehicle (EV) Charging Adapter market and what is its expected growth rate?
- What are the primary driving factors that push the EV Charging Adapter Market forward?
- What are the EV Charging Adapter Industry's top companies?
- What are the different categories that the EV Charging Adapter Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Electric Vehicle (EV) Charging Adapter Market sample report and company profiles?
Key Insights & Findings from the report:
- According to analysis shared by our primary respondents, the EV Charging Adapter market is likely to grow at a CAGR of around 40.76% over the forecast period.
- Through the primary research, it was established that the EV Charging Adapter market was valued at approximately USD 320.24 Million in 2021and is projected to rise to USD 4345.80 million by 2028.
- The plug-in hybrid EV segment is predicted to have a significant market share.
- The AC Level 1 Charger has the biggest market share due to its cost-effectiveness characteristic.
- On the basis of region, in the global EV charging adaptor market, the Asia Pacific region is predicted to hold the largest share.
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Global EV Charging Adapter Market: Growth Factors
- Eco-friendly environment and cost-effectiveness are factors fueling the market’s growth
The fact that electric vehicles do not require non-renewable energy sources is the key growth driver of the global EV charging adapter market. There is an increasing understanding of the importance of maintaining an eco-friendly ecosystem in order to safeguard the environment against dangerous gases and thereby prevent global warming. Electric vehicles are more cost-effective than gasoline vehicles; the rising cost of gasoline is driving market demand for electric vehicles, as the cost of charging electric vehicles is lower when compared to fuel expenditures.
This, in turn, is expected to raise the EV charging adapter market. However, since the manufacturing cost of electric vehicles is very high, and production is low, companies are unable to achieve economies of scale. While charging, electric automobiles take a long time. These aspects are predicted to stifle market expansion.
COVID-19 Impact Analysis:
In the last 2 years, almost every industry in the world has suffered a setback. This is subject to rapid impediments in their separate processes and supply markets as a result of several preventive lockdowns and other constraints placed by governmental authorities all over the world. The same is relevant for the global EV charging adapter market. Furthermore, consumer preference has subsequently been lowered as people are now more focused on decreasing unessential expenditures from their separate budgets as the overall economic situation of most people has been adversely impeded by this pandemic. These factors are likely to weigh on the revenue profile of the global EV charging adapter market throughout the forecast period.
Global EV Charging Adapter Market: Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 320.24 Million |
| Projected Market Size in 2028 | USD 4345.80 Million |
| CAGR Growth Rate | 40.76% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Addenergie Technologies, Eaton, AeroVironment, POD point, Delphi Automotive, Leviton Manufacturing, Robert Bosch, Signet Electronic Systems, ChargePoint, Efacec, and ABB., among others |
| Key Segment | By User Type, By Product Category, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Electric Vehicle (EV) Charging Adapter Market: Segmentation Analysis
The global EV charging adapter market is segregated on the basis of user type, product category, and region.
By user type, the market is divided into battery EV, plug-in hybrid EV, fuel cell EV, and others. Each of these EVs is popular and in high demand, but the plug-in hybrid EV segment is predicted to have a significant market share. By product category, the market is classified into DC fast, AC level 1, and AC level 2. The AC Level 1 Charger has the biggest market share due to its cost-effectiveness characteristic; it has a minimal charging cost and is compatible with standard fitments in PEVs.
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Regional Dominance:
- Asia Pacific region is expected to be the fastest-growing market during the forecast period
Asia Pacific region is expected to have the largest share in the global EV charging adapter market. The region is home to some of the world's fastest-growing economies, including India and China. Due to government assistance in the form of subsidies, grants, and tax refunds, as well as continuously developing charging infrastructure in nations such as China and Japan, the Asia Pacific region is the greatest market for EV. As a result, the EV charging station would expand, prompting the need for EV adapters.
The primary elements that have contributed to the Asia Pacific being the fastest-growing market are the continuous improvement of charging stations and the expansion of vehicle range. Furthermore, the rising levels of pollution in economies such as China and Japan have spurred the need for low-emission vehicles in such countries, resulting in a massive demand for EV and EV charging stations.
Browse the full “EV Charging Adapter Market By User Type (Battery EV, Plug-in Hybrid EV, Fuel Cell EV, and Others), By Product Category (DC Fast, AC Level 1, and AC Level 2) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” Report at https://www.fnfresearch.com/ev-charging-adapter-market
Recent developments:
- July 2020: Jaguar Land Rover, Cabonline, a Nordic cab operator, Fortum Recharge, the leading charge point provider, Momentum Dynamics, and the City of Oslo have all joined the ElectriCity effort to construct high-powered, wireless, charging infrastructure for cabs in the city.
- March 2020: TE Connection Ltd., a global industrial technology business with key roles in sensing and connectivity technologies, has completed its public buyout of First Sensor AG.
The global EV charging adapter market is segmented as follows:
On the basis of User Type, the market is segmented into:
- Battery RV
- Plug-in Hybrid EV
- Fuel Cell EV
- Others
On the basis of Product Category, the market is segmented into:
- DC Fast
- AC Level 1
- AC Level 2
Key Offerings:
- Market Size, Share & Forecast by Revenue | 2022−2028
- Market Dynamics – Key Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by User Type, by Product Category, and by Region
- Competitive Landscape – Key Vendors and Other Prominent Vendors
Click Here to Get Free Sample Report of the Global EV Charging Adapter Market @ https://www.fnfresearch.com/sample/ev-charging-adapter-market
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