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The adoption rate of EVs in any region is directly proportional to the availability of charging facilities that are associated with the high cost of installation. This has remained one of the major challenges for the adoption of EVs globally. However, with the increased funding from governments and automotive OEMs, the market is observing an increase in the number of charging facility installations worldwide. Some governments are offering tax rebates, incentives, and subsidies toward the development of EV charging infrastructure. For instance, some states in the US such as Georgia and Maryland are offering tax rebates for such projects. The availability of such government incentives and subsidies for EV charging infrastructure developments will foster the growth of the market during the forecast period.
According to Technavio, the open and closed platform approaches by EV charger solution providers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Electric Vehicle Charger Market: Open and closed platform approaches by EV charger solution providers
The rise in the number of partnerships among automotive OEMs, rising demand from end-users, and the entry of new players have made the global EV charger market more dynamic. With the increasing number of players in the market, the business approach by vendors toward charging stations is following the same trend as that of other technology-related markets, such as operating systems and smartphones. Many players in the market are of the opinion that within a few years, the market will close down the vibrancy to establish market shares and dominancy. Hence, companies have started to follow the open and closed platform approaches. For instance, EVgo, one of the leading fast charger providers in North America, has developed freedom station plans and chose the open platform approach. Such developments among vendors will have a positive impact on the growth of the market during the forecast period.
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Electric Vehicle Charger Market: Segmentation Analysis
This market research report segments the electric vehicle charger market by end-user (residential and commercial), type (slow charger and fast charger), and Geography (APAC, North America, Europe, South America, and MEA).
By end-user, the residential segment will generate maximum demand for EV chargers over the forecast period. The increasing adoption of EV chargers in homes, multi-dwelling buildings, and workplaces is driving the segment's growth.
Similarly, based on the type, the slow charger segment will have the largest share of the market. The segment is driven by the affordability of slow chargers. The market growth in the segment will be significant during the forecast period.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports:
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Electric Vehicle Charger Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 28.35% |
Market growth 2021-2025 |
26,825.74 thousand units |
Market structure |
Fragmented |
YoY growth (%) |
24.79 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 44% |
Key consumer countries |
China, US, Germany, France, and The Netherlands |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ABB Ltd., AddEnergie Technologies Inc., AeroVironment Inc., Chargemaster Ltd., ChargePoint Inc., Electricite de France SA, Evatran Group Inc., Leviton Manufacturing Co. Inc., Robert Bosch GmbH, and Webasto SE |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Residential - Market size and forecast 2020-2025
- Commercial - Market size and forecast 2020-2025
- Market opportunity by End-user
Market Segmentation by Type
- Market segments
- Comparison by Type
- Slow charger - Market size and forecast 2020-2025
- Fast charger - Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- AddEnergie Technologies Inc.
- AeroVironment Inc.
- Chargemaster Ltd.
- ChargePoint Inc.
- Electricite de France SA
- Evatran Group Inc.
- Leviton Manufacturing Co. Inc.
- Robert Bosch GmbH
- Webasto SE
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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