The North America, China, Japan, and Germany electric vehicle (EV) charging station infrastructure market is projected to exhibit a significant CAGR during the forecast period, i.e., 2021-2029. Factors such as the increasing adoption of electric vehicles in these geographical areas, coupled with the favorable government initiatives that promote the adoption of EVs, are anticipated to drive the market growth throughout the forecast period. According to the statistics by the Transportation Research Center at the Argonne National Laboratory, the sales of Electric Vehicles in the United States grew from 10,100 vehicles in 2011 to 242,000 in the year 2019. Additionally, the presence of several electric vehicle charging infrastructure companies in these geographical areas is also anticipated to contribute to the market growth over the forecast period.
The market is segmented by type of charger into slow, moderate, fast, and ultra-fast. Among these segments, the fast charger segment is anticipated to hold the largest market share by the end of 2021. The growth of the segment can be attributed to the rising need for chargers that can charge the vehicles in a short span of time, along with the ability to protect the batteries of the vehicle while charging them. On the other hand, the ultra-fast charger segment is projected to grow with the highest CAGR during the forecast period owing to the rapid advancements in charging technologies, and the need for chargers that can charge safely at a fast pace. CLICK TO DOWNLOAD SAMPLE REPORT
The electric vehicle (EV) charging infrastructure market in China is projected to hold the largest market share. The growth of the market in the country can be contributed to the presence of a large number of EVs in the nation, along with the favorable initiatives of the Government of China for the planning and development of infrastructure for EVs., and the presence of several key EV manufacturers in the country. Alternatively, the market in North America is led by the United States, which is also one of the major exporters of EVs around the world. The market in Japan is primarily driven by the measures adopted by the government of the nation to drastically improve the availability of charging ports for EVs across the country. The electric vehicle charging station infrastructure market in Germany is thriving on account of the various measures taken by the regulatory authorities to curb vehicular emission. In October 2014, the nation also established a regulatory board known as the German National Platform for Electric Mobility, so as to analyze and monitor the development of EVs in the nation.
However, the high cost of charging infrastructure for electric vehicles, which hampers the adaptability of these systems is one of the major factors anticipated to drive the market growth in the coming years.
Our in-depth analysis of the North America, China, Japan, and Germany electric vehicle (EV) charging station infrastructure market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing sales of electric vehicles (EVs), battery electric vehicles (BEVs), and plug-in hybrid electric vehicles (PHEVs), is one of the major factors driving the market growth.
The market is anticipated to grow with a significant CAGR over the forecast period, i.e., 2021-2029.
The major companies in the market are Leviton Manufacturing Co., Inc., SemaConnect Inc., Schneider Electric, Siemens, Tesla, Inc., and others.
The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The North America, China, Japan, and Germany electric vehicle charging station infrastructure market is segmented by type of charging station, level of charging, type of connector, type of charger, and by application.
The high cost of the charging stations, along with the unavailability of a universal connector plug are some of the major factors estimated to act as barriers to the growth of the market.
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