Growing demand for heavy vehicles and electrification of public transportation systems are driving the market demand.
— Emerging research
VANCOUER, BC, CANADA, Aug. 3, 2022 /EINPresswire.com/ — The global electric vehicle fast charging systems market is expected to reach USD 2.30 billion in 2027. The market is expected to be driven due to greater proliferation of the proliferation of global electric vehicle sales, technological advances in electric vehicle charging infrastructure, battery management and electric vehicle sustainability, and growing pressure from governments to deploy electric vehicles highway and fast public charging infrastructure and its wide availability.
The market is predicted to witness substantial growth owing to its massive implementation in various verticals, especially in the North American region. The widespread proliferation of electric vehicle fast charging infrastructure, especially in the United States, and increasing investment in electric vehicle charging infrastructure is expected to drive the demand for the market.
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Coronavirus outbreak has brought about drastic changes in the current business landscape of the Electric Vehicle Fast Charging System Market, limiting growth opportunities for various manufacturers and buyers over the coming years. Apart from speculating on the post-COVID-19 scenario of the market, the report discusses its current situation. The report ultimately offers conclusive data related to the Electric Vehicle Fast Charging System Market growth assessed at the regional and global level.
The report examines the recent COVID-19 crisis and its impact on the global market. The report explores the current and future impact of the pandemic and provides insight into the post-pandemic market scenario.
COVID-19 Impact Analysis
Social distancing and restrictions have severely disrupted businesses and operations
Lockdowns have caused disruptions in transport and logistics
Manufacturing and mining operations affected globally
Weighed on the economy of various countries
Caused a sudden and drastic slowdown in economic activity
Disruption of agriculture, fishing, dairy industry and other sectors
Caused job losses and a financial crisis
Supply side effects have been further compounded due to lower disposable income
Emergence of variants continues to cause concern and impact normal routines
Some key highlights of the report:
The Asia-Pacific region market, in terms of value, contributed the largest plug-in hybrid PHEV market share in 2019 and is expected to grow at the fastest rate of 39.8% during the forecast period, due to growing concerns about the environment. pollution and government support to promote sustainable mobility.
Heavy vehicles cannot use fast charging infrastructure similar to that of passenger cars. They require larger batteries, more powerful stations, consume more energy and require faster charging systems to recharge quickly. In this way, the demand for heavy vehicles is deliberately stimulated.
In March 2019, Tesla launched V3 Supercharge, the next step in growing Tesla’s network of superchargers.
In January 2019, Tesla planned to install more superchargers for its electric vehicles across Europe. Major expansions occurred in Southern and Eastern Europe.
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Major companies in the market include:
Advanced Vehicle Manufacturing, Inc., Delta Electronics, Inc., EVBox, ABB, Blink Charging Co, ChargePoint, Inc., Elmec Inc, Hong Kong EV Power Limited, GARO, Proterra Inc., Schneider Electric, and Siemens, among others.
For the purposes of this report, Emergen Research has segmented the global electric vehicle fast charging systems market on the basis of vehicle type, charger type, installation type, application, battery type, vehicle technology and region:
Vehicle Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Charger Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
TYPE-2 (IEC 62196)
Installation Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Battery Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Solid State Lithium Ion (SSB)
Vehicle Technology Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Plug-in hybrid electric vehicles (PHEV)
Battery Electric Vehicles (BEV)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
The rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
Rest of MEA
Why Should You Buy This Electric Vehicle Fast Charging Systems Market Report?
The study document dissects the total market potential of major regions along with strengths, opportunities and challenges, restraints and dangers.
Identifying high-improvement locations, the study inspects open entries, keeping an eye out for accomplices.
It examines each submarket in terms of its unique enhancement design and its contribution to the Electric Vehicle Fast Charging System market
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