Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Electric Vehicle Charger Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The latest Electric Vehicle Charger Global Market Report 2024 has been released, offering comprehensive insights into the EV charging industry's astonishing growth trajectory.
With an anticipated market size projected to grow from $6.79 billion in 2023 to $8.67 billion in 2024 at a CAGR of 27.7%, the report underscores the rapid expansion fueled by technological innovations and stringent government regulations supporting a global push towards sustainability.
Highlighting the Asia-Pacific region as the largest market shareholder in 2023, the report encapsulates a panorama of factors propelling the electric vehicle charger domain forward. These include the mounting adoption of electric vehicles (EVs), the integration of fast-charging infrastructure, and an upswing in the development of residential and commercial charging solutions.
The electric vehicle charger market is at the vanguard of the automotive industry's transformation, catering to an increasingly environmentally conscious global consumer base.
This market investigation delves into the diversity of vehicles served, from battery electric vehicles (BEVs) to plug-in hybrids (PHEVs) and hybrid electric vehicles (HEVs), and the burgeoning application scope within the residential sector, buoyed by growth in private housing development. Providing a detailed examination of market elements, this report covers an array of charger types, including on-board and off-board chargers, which are paramount to the operational efficacy of EVs.
Emphasized within the document are imminent trends shaping the future of electric vehicle charging. Marked advancements include the prolific generation of fast and ultra-fast charging stations, the blossoming of wireless charging modalities, and exposure to smart grid communication technologies. These developments are slated to dramatically ameliorate user convenience and broaden the practicality of EV ownership.
On the regulatory front, the report articulates how government policies are catalyzing industry growth, spotlighting initiatives like the United States' commitment to electrify half of all new vehicles by 2030. These policies are not just reshaping consumer behavior but are also fueling market expansion through fiscal incentives and infrastructural support.
Core industry players are ceaselessly innovating to meet this surging market demand. A featured example of such innovation is Mochi, the self-navigating electric charging robot which harnesses 100% green electricity. Alongside, the introduction of Terra 360, celebrated as the world's fastest EV charger, is a testament to the industry's relentless drive for advancement.
The comprehensive market evaluation spotlights key manufacturers who are enhancing the electric vehicle charging landscape, leveraging strategic initiatives and groundbreaking product launches to solidify their place in this competitive arena. These marquee players' robust strategies and forward-thinking investments are heralding a new epoch of sophistication in EV charger technology.
With detailed segmentation and forward-looking analysis, this Electric Vehicle Charger Global Market Report presents invaluable intelligence that encapsulates the market's current state and future outlook. It is a critical document for stakeholders, investors, policymakers, and industry enthusiasts seeking to align themselves with the trajectory of the electric vehicle charging landscape.
Overall, the report affirms that the spotlight on the electric vehicle charger market thrives on innovation, driven by a confluence of technological advancements and public policy. Given the anticipated growth rate and forecasted market value of $21.85 billion by 2028, stakeholders across the board are poignantly aware that the thriving EV charger market presents not just a sustainable alternative, but a robust commercial opportunity within the automotive domain.
Companies Profiled:
- ABB Group
- AeroVironment Inc.
- ChargePoint Inc.
- BP Chargemaster
- Evatran Group Inc.
- Leviton Manufacturing Co. Inc.
- Webasto SE
- Eaton Corporation plc
- Schneider Electric SE
- Siemens AG
- Électricité de France S.A. (EDF)
- POD Point Ltd.
- Schaffner Holding AG
- IES Synergy
- Efacec Power Solutions S.A.
- Webasto Charging Systems Inc.
- Hyundai Motor Company
- Alfen N.V.
- Allego B.V.
- ClipperCreek Inc.
- Continental AG
- Magna International Inc.
- SemaConnect Inc.
- TGOOD Global Ltd.
- ZF Friedrichshafen AG
- Robert Bosch GmbH
- Delta Electronics Inc.
- Cyber Switching Inc.
- Tesla Inc.
- EVgo Services LLC
- Electrify America LLC
- Blink Charging Co.
- Tritium Pty Ltd.
- Enel X
- Wallbox Chargers S.L.
- EVBox Group
- Enphase Energy Inc.
- BorgWarner Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ih5cst
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