Electric Vehicle Charger Market to Reach $25.5 Bn, Globally, by 2027 at 26.8% CAGR: Allied Market Research

Government regulations to curb down environmental pollution and increase in government initiatives for development of EV charging infrastructure drive the growth of the global electric vehicle charger market

News provided by

Allied Market Research

Apr 08, 2020, 09:30 ET

PORTLAND, Oregon, April 8, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Electric Vehicle Charger Market by Vehicle Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV)), Charging Type (On-board Chargers, and Off-board Chargers), and End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global electric vehicle charger industry was estimated at $3.8 billion in 2019, and is anticipated to hit $25.5 billion by 2027, registering a CAGR of 26.8% from 2020 to 2027.

Drivers, restraints, and opportunities-

Government regulations to limit environmental pollution, rise in market penetration of electric vehicles, and increase in government initiatives for development of electric vehicle charging infrastructure drive the growth of the global electric vehicle charger market. On the other hand, limited number of EV charging stations and inadequate standardization of EV charging impede the growth to some extent. However, upsurge in demand for luxury vehicles and rise in need for wireless charging of electric vehicles are expected to pave the way for multiple opportunities in the industry.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4084

The PHEV segment to dominate by 2027-

Based on vehicle type, the PHEV segment accounted for nearly half of the global electric vehicle charger market share in 2019, and is expected to lead the trail by the end of 2027. PHEVs emit less gases over conventional ICS vehicles as they have extra capability to run a certain distance without burning a single drop of fuel which, in turn, has boosted the segment growth. The BEV segment, on the other hand, would grow at the fastest CAGR of 29.0% throughout the forecast period. The fact that BEVs do not require gasoline at any point during operation, and they rely solely upon pure electric battery power drives the growth of the segment.

The on-board chargers segment to maintain the dominant share-

Based on charging type, the on-board chargers segment contributed to 95% of the global electric vehicle charger market revenue in 2019, and is anticipated to retain the lion's share till 2027. Rise in demand for BEVs and PHEVs is expected to boost the demand for onboard chargers during the estimated period. At the same time, the off-board chargers segment would register the fastest CAGR of 29.1% throughout the study period. Off-board chargers convert AC to DC to provide fast charging to electric vehicles. And, surge in demand for luxury and supercars is projected to fuel the demand for DC fast chargers, thereby driving the growth of the segment.

Interested To Procure The Data of This Report? Enquire More Here at: https://www.alliedmarketresearch.com/purchase-enquiry/4084

Asia-Pacific, followed by Europe and North America, garnered the major share in 2019 –

Based on geography, Asia-Pacific, followed by Europe and North America, held the highest share in 2019, garnering nearly half of the global electric vehicle charger market. Growth in disposable income of the population is expected to increase the market presence of electric vehicle chargers in this province. Simultaneously, the LAMEA region would cite the fastest CAGR of 28.3% from 2020 to 2027. Deployment of strict government regulations to reduce the dependency on oil is expected to drive the market.

Key players in the industry-

POD Point
Robert Bosch GmbH
Siemens AG
Delphi Automotive
Chroma ATE
Silicon Laboratories
ABB Ltd.
Chargemaster PLC
Aerovironment Inc.
Schaffner Holdings AG

Schedule a Call with Our Analysts/Industry Experts: https://www.alliedmarketresearch.com/connect-to-analyst/4084

Avenue | The Market Research Library Access

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Sign up and start using your 14-day free trial: https://www.alliedmarketresearch.com/avenueTrial

Electric Vehicle Range Extender Market

Electric Vehicle Charging System Market

Electric Vehicle Battery Market

Pre-book Offer 12% Discount:

Automotive Power Electronics Market

Smart Battery Charger Market

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]