Electric Vehicle Charging Station Market Trends – Decline in Lithium-Ion Battery Price
VANCOUVER, BC, CANADA, Aug. 1, 2022 /EINPresswire.com/ — The Global Electric Vehicle Charging Stations Market research report provides in-depth analysis of the industry-wide database industry and economy which could potentially offer development strategies and profitability measures to market players. The report includes trends that are expected to impact the growth of the Electric Vehicle Charging Stations Market over the forecast period. Assessment and analysis of these trends are included in the report.
The global electric vehicle (EV) charging station market size reached USD 6.72 billion in 2021 and is expected to register a CAGR of 38.7% during the forecast period, according to the latest analysis from Emergen Research. . Rising purchases of e-vehicles, government policies, and funding for the expansion of electric vehicle charging stations are expected to support the market revenue growth between 2022 and 2030. The demand for electric vehicle charging stations continues to increase due to the increased adoption of electric cars across the world. Rising emissions of carbon dioxide (CO2) and other dangerous pollutants from transporting gasoline and diesel fuel have led people to switch to electric vehicles, which is expected to drive revenue growth over the next forecast period. Additionally, increasing adoption of green and renewable energy is also expected to drive the growth of the electric vehicle charging station market.
However, the high initial installation cost of electric vehicle charging stations is hampering the market revenue growth. The initial cost of installing and setting up an EV charging station is high, especially for Tier 3 and other fast charging stations. In addition, other expenses related to electricity, labor, maintenance, license taxes and installation of electric charging equipment increase the overall expenses to set up an electric vehicle charging station, which is expected to hamper the market revenue growth to some extent.
Our free sample PDF copy of Electric Vehicle Charging Stations Market Report contains Brief Research Report Introduction, Table of Contents, List of Tables and Figures, Competitive Landscape and Geographical Segmentation, innovation and future developments based on the research methodology.
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Some important companies included in the report are:
ABB Ltd., Tesla Inc., Chargepoint, Inc., BP Pulse, Schneider Electric SE, Semaconnect Network, EVGO Services LLC, EVBox Group, Eaton Corporation PLC, Shell PLC, Blink Charging Co., Siemens AG, Webasto SE and Hyundai Company automotive
The report mainly studies the Electric Vehicle Charging Stations market size, recent trends and development status, investment opportunities, market dynamics (e.g., driving factors, limiting factors) and industry news (for example, mergers, acquisitions and investments). Technological innovations and advancements will further optimize the performance of the product so that it is more widely used in downstream applications. Moreover, Porter’s Five Forces analyzes (potential entrants, suppliers, substitutes, buyers, and industry competitors) provide significant insights for understanding the Electric Vehicle Charging Station market.
Emergen Research has segmented the global electric vehicle charging station market on the basis of charge level, charging infrastructure, vehicle type, installation type, application, and region:
Billing Level Outlook (Revenue, USD Billion; 2019-2030)
Level 1 (120V)
Level 2 (208V-240V)
Level 3 (up to 600 V)
Charging Infrastructure Outlook (Revenue, USD Billion; 2019-2030)
Combine charging station (CCS)
Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
Plug-in hybrid electric vehicle (PHEV)
Electric passenger cars
Heavy duty vehicles
Light commercial vehicles
Plant Type Outlook (Revenue, USD Billion; 2019-2030)
Application Type Outlook (Revenue, USD Billion; 2019-2030)
In addition, the research report includes the global Electric Vehicle Charging Stations market growth rate, tables, facts, figures, and statistics of key segments.
Middle East and Africa
Some highlights of the report
Tier 2 segment accounted for the largest market share in the EV charging station market in 2021, as it is less expensive than Tier 3 charging and operates at a higher input voltage than EV charging. Level 1. Additionally, Level 2 charging stations are universally compatible with industry-standard equipped electric vehicles, driving revenue growth for this segment.
The Combined Charging System (CCS) segment is expected to grow at a significantly rapid CAGR over the forecast period owing to the increasing adoption of CCS connections by major electric vehicle manufacturers. CCS is a combined charging system for charging electric cars with direct current (DC) and alternating current (AC), which is increasingly being adopted.
Asia-Pacific is expected to account for the largest revenue share due to increased government initiatives by countries such as China, Japan, South Korea and India for the expansion of charging stations electric vehicles throughout the region. Additionally, reduced air pollution and increased energy security and electrification are also expected to boost revenue growth in this region over the forecast period.
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Think one step ahead
In today’s competitive world, you have to anticipate to hunt your competition. Our research offers insights on key players, major collaborations, mergers and acquisitions as well as innovation and business policy trends to present better insights to steer the business in the right direction.
Factors of rapid business growth
Moreover, the market is growing at a rapid pace and the report shows us that there are a few key factors behind it. The most important factor helping the market to grow faster than usual is tough competition.
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Highlights of the Electric Vehicle Charging Stations Market Report:
This research report focuses on the Electric Vehicle Charging Stations market overview, market share, supply and demand ratio, import/export details, chain analysis supply, etc.
The report includes different approaches and procedures used by established market players for effective business decisions.
The report offers detailed information about the production value, the strategies adopted by the major market players, their product/service offerings, and many more.
Key report coverage:
Segment market share assessments at country and global level.
Market share analysis of major market players.
Opportunities and growth prospects for new market entrants.
Market forecasts for all segments, sub-segments of the market.
Market Trends (Drivers, Restraints, Opportunities, Challenges, Threats, Investment Opportunities and Endorsements)
Strategic endorsements in key business segments based on market valuations.
Mapping of the competitive landscape of the main development models.
Company profiling with detailed strategies, financial details and recent developments.
Latest supply chain trends and technological advancements.
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