Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The "Wallbox Electric Vehicle Charger Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (AC Type 1 Wallbox Charger, AC Type 2 Wallbox Charger), By End Use (Residential, Commercial), By Region, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global wallbox electric vehicle charger market is anticipated to register growth at a robust CAGR in the forecast period, 2023-2027. Wallbox electric vehicle chargers charge a vehicle as an extremely high speed, therefore it is increasingly being adopted across several developed and developing nations.
Even with a moderate charging power of 11 Kilowatt, the 60-kWH battery would fully be recharged in less than six hours. With the top range of 22-kW models, charging the same battery would take less than three hours. Moreover, the wallbox electric vehicle chargers ensures the safety of the vehicle and the passenger as this type of charger ensures protection against the electric discharge, thereby preventing any mis-happenings during the charging process. As a result, the global wallbox electric vehicle charger market is anticipated to grow at a rapid pace in the coming years.
Exhausting Non-Renewable Sources to Aid Wallbox Electric Vehicle Charger Adoption
Depletion of non-renewable resources such as petrol and diesel are pushing the demand for electric vehicles. It is inevitable to have a constant supply of petrol or diesel to power up the conventional ICE combustion cars. With this, the sales of electric cars have increased particularly in the developed economies such as United States, Canada, and United Kingdom. In addition, with the emerging trend of home charging, where 90% of the electric car charging takes place domestically, the demand for wallbox electric vehicle chargers have propelled.
Moreover, to support the adoption of electric vehicle car and wall box further, the government in United Kingdom have initiated a "Go Ultra Low" campaign, supported by the Office of Zero Emission Vehicles, vehicle manufacturers and energy providers. This campaign seeks to offer facts and information that an electric car buyer would like to have while switching to an electric vehicle along with educating them about the tools that are required to run an electric vehicle. Therefore, the depleting non-renewable resources and increasing support by the government to opt for electric vehicles and increase awareness about electric vehicle chargers are anticipated to propel the global wallbox electric vehicle charger market.
Fast Charging Ability of Wallbox Electric Vehicle Charger Fuels the Product Demand
Wallbox chargers offer extremely fast charging speed than the traditional three-pin plugs, hence helping the electric vehicle drivers to have a fully charged vehicle in a short span of time. In addition, some of the latest and highly advanced models of wallbox electric vehicle chargers facilitate an electric vehicle to be charged from 10-80% in less than 20 minutes. Moreover, with the constantly expanding public charging network and growing installation of rapid and ultra-rapid charging points, charging an electric vehicle is becoming very convenient, which is expected to create a positive impact on the market.
Report Scope:
In this report, global wallbox electric vehicle charger market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Wallbox Electric Vehicle Charger Market, By Product Type:
- AC Type 1 Wallbox Charger
- AC Type 2 Wallbox Charger
Wallbox Electric Vehicle Charger Market, By End Use:
- Residential
- Commercial
Wallbox Electric Vehicle Charger Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe and CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Belgium
- Russia
- Asia Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Australia
- South Korea
- Rest of the World
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Wallbox Electric Vehicle Charger Market
5. Voice of Customer
6. Global Wallbox Electric Vehicle Charger Market Outlook
7. North America Wallbox Electric Vehicle Charger Market Outlook
8. Asia Pacific Wallbox Electric Vehicle Charger Market Outlook
9. Europe & CIS Wallbox Electric Vehicle Charger Market Outlook
10. Market Dynamics
11. Market Trends and Developments
12. Working Mechanism of Wallbox Electric Vehicle Charger
13. Competitive Landscape
14. Strategic Recommendations
Companies Mentioned
- Wallbox AB
- E-Station
- BJA trading group (Sevadis)
- Enel X S.r.l.
- Lectron electric vehicle.
- LUAO
- ChargePoint
- United Chargers Inc.
- Enphase Energy, Inc. (Clipper Creek)
- Tesla Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xel8v1
