Electric Vehicle Charging Stations Market: 29.8% CAGR to 2022

Apr 04, 2016, 06:00 ET from ReportsnReports

PUNE, India, April 4, 2016 /PRNewswire/ --

Growing need to reduce carbon emissions is pushing electric vehicle charging stations market along with increasing use of EVs, government subsidies and incentives according to this new research report. It forecasts the market to reach $12.61 Billion by 2022, at a CAGR of 29.8% from 2016 to 2022.

Complete report on global electric vehicle charging stations market spread across 146 pages, profiling 13 companies and supported with 69 tables and 64 figures is now available at http://www.reportsnreports.com/reports/518938-electric-vehicle-charging-stations-market-by-charging-station-ac-charging-station-dc-charging-station-inductive-charging-station-connector-type-chademo-ccs-others-location-public-private-and-geography-global-trend-and-forecast-to-2022.html .

The growth of the electric vehicle charging stations market is attributed to significant incentives offered by the Chinese Government for vehicle buyers and tightening emission regulations. Further, other countries such as South Korea and India are taking initiatives to reduce greenhouse gas emissions by increasing the use of electric vehicles. The leading players contributing to the growth of the region are JAC Motors (China), BYD Co. Ltd. (China), BAIC Group (China), SAIC Motor Corporation Limited (China), Nissan Motor Company Ltd. (Japan), Mitsubishi Motors Corporation (Japan), and Toyota Motor Corp. (Japan).    

Electric vehicle charging stations market for inductive charging stations expected to grow at the highest CAGR between 2016 and 2022. The technology is still in the research and development stage. It is estimated that the market will evolve post 2016 and is expected to exhibit high growth. Participants from various verticals such as telecom, industrial automation, and utilities are transforming the market by establishing their presence. Further, companies such as Evatran Group Inc. (U.S.) and Qualcomm Inc. (U.S.) have launched prototypes and demonstration projects through joint ventures and partnerships, which is expected to drive the growth of this market. For instance, in June 2015, the Evatran Group Inc. (U.S.) partnered with Zhejiang VIE Science and Technology Company (VIE, China) and got an initial investment of USD 1.6 million from VIE to introduce wireless electric vehicle charging products to China.

The key players in the market include ABB Ltd. (Switzerland), Aero Vironment Inc. (U.S.), ChargePoint Inc. (U.S.), Delphi Automotive Plc.(U.K.), Eaton Corp. Plc. (Republic of Ireland),Elektromotive Limited (U.K.),GE Company (U.S.), Pod Point Ltd. (U.K.), Schneider Electric SE (France), SemaConnect Inc. (U.S.), Siemens AG (Germany), and Tesla Motors Inc. (U.S.). Order a copy of Electric Vehicle Charging Stations Market by Charging Station (AC Charging Station, DC Charging Station, Inductive Charging Station), Connector Type (Chademo, CCS, Others), Location (Public, Private), and Geography - Global Trend and Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=518938 .

Americas to be the fastest-growing electric vehicle charging stations market during the forecast period. The growth is attributed to the shift towards low emission vehicles, tax credits in various cities in the U.S. for the installation of charging stations, and the U.S. Government's subsidies and incentives to boost the deployment of EV charging stations under the American Recovery and Reinvestment Act (ARRA).

On a related note, another research on Suspension System Market by System, Damping, Architecture, Vehicle Type & Region Forecast 2015 to 2020 says, the market for suspension system is estimated to grow at a CAGR of 5.32% by value from 2015 to 2020, growing from $52,667 Million in 2015 to $68,253 Million by 2020. North America is estimated to grow at a highest CAGR of 6.03% by volume over the projected period from 2015 to 2020. Companies like ZF Friedrichshafen AG, Tenneco Inc., Kyb Co.Ltd, Continental AG, Magneti Marelli S.P.A., Benteler International AG, Schaeffler AG, Wabco Holdings Inc., Mando Corp. and Thyssenkrupp AG have been profiled in this 176 pages research report with 68 tables and 60 figures available at http://www.reportsnreports.com/reports/417263-suspension-system-market-by-system-passive-semi-active-active-damping-hydraulic-pneumatic-electromagnetic-architecture-dependent-semi-independent-independent-macpherson-strut-double-wishbone-vehicle-type-by-region-forecast-to-2020.html .

Explore more reports on Semiconductor and Electronics market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .

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