FREMONT, California, May 2, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled "Global Electric Vehicle Fast Charging System Market - Analysis and Forecast, 2019-2029", the electric vehicle fast charging system market was estimated at 96.4 thousand units in 2018 and is anticipated to reach 812.2 thousand units by 2029, growing at a CAGR of 21.90% during the forecast period.
The growth of the market is aided by factors such as increasing number of electric vehicles in developed as well as developing regions, increasing push from government for the deployment of highway chargers as well as fast bus chargers, and technological advancement (transition from level 2 to level 3 chargers). These factors are expected to drive the global market for electric vehicle fast charging system market during the forecast period (2019-2029).
Browse 37 Market Data Tables and 118 Figures spread through 209 Pages and in-depth TOC on "Global Electric Vehicle Fast Charging System Market"
Electric vehicles (EVs) are automobiles that run using power from non-conventional power sources. With the help of an electric motor, the power is converted into mechanical energy without any type of additional fuel. The idea for EVs was conceived in the early 19th century and advancements have been made for mass commercialization over the past few decades. Presently, electric vehicles have transformed from an experimental mode of vehicle to a necessity, with automakers worldwide putting in efforts to make them available in all the economic ranges.
An electric vehicle fast charging system is an integral part of the electric vehicle ecosystem and is used for charging the battery of electric vehicles in a shorter time as compared to other chargers. These chargers supply electric energy to the electric vehicle to charge the battery of electric vehicles and plug-in hybrid vehicles. Due to the growing popularity of the market, BIS Research has published a report incorporating a comprehensive segmentation of the market into type, application, and geography.
The ongoing changes in the industry have led the study to incorporate a detailed chapter on the market dynamics including the key driving and restraining forces, along with the opportunities for the global electric vehicle fast charging system market during the forecast period. The market numbers play an important role in the industry, following which, proper market sizing and estimation by type, application, and geographical location have been undertaken for the study.
The report has skillfully identified the potential for further development in the form of product launches, developments and business expansions, among others. The report includes a separate section for detailed competitive landscape. The recent activities by the key players in this market have also been tracked in the form of company profiles.
According to Eshan Hira, Analyst at BIS Research, "The electric light duty vehicles (LDVs) segment is currently dominating the electric vehicle fast charging system market and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to a rise in the number of electric light duty vehicles, such as electric cars, vans, and pick-up trucks, which further boost the demand for fast charging system. Governments of numerous countries are creating policies and taking initiatives to increase the deployment rate of electric vehicles. Additionally, the electric bus segment is anticipated to be the potential segment, expected to register the highest CAGR of 23.66% from 2019 to 2029. This is mainly due to the rising number of intra-city electric bus fleets owing to the rising vehicular emission concern, further boosting the demand for opportunity charging as well as depot charging.
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The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. The estimation and valuation of the market is compiled for three different scenarios i.e. pessimistic, realistic, and optimistic. It also includes a competitive analysis of the leading players present in the industry along with their corporate overview, product overview, and functional areas in the EVSE ecosystem. The overall market has been segmented by charger type and application. It also includes a comprehensive section dedicated to the geographical analysis which has been sub-segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest-of-the-World (RoW).
This report is a meticulous compilation of research on approximately 150 players operating in the electric vehicle and EV charger ecosystem. Moreover, it draws upon insights from in-depth interviews of key opinion leaders of more than 25 leading companies, market participants, and vendors. The report also profiles around 16 companies, namely ABB, Advanced Vehicle Manufacturing, Inc, Blink Charging Co, ChargePoint, Inc, Delta Electronics, Inc, EVBox, Elemec Inc, GARO, Hong Kong EV Power Limited, POD Point, Proterra Inc, Schneider Electric, Services FLO Inc, Shenzhen SORO Electronics Co., Ltd, Siemens, and Valent Power, which are key contributors in the market.
Key questions answered in the report
- What is electric vehicle charging system?
- What are the major technological trends which are expected to affect the market ecosystem?
- What are the major business models followed by the EV fast charging network providers?
- Which global factors are expected to impact the electric vehicle fast charging system market?
- What are the key market strategies adopted by the electric vehicle fast charging system players?
- How wide is the electric vehicle fast charging system market in terms of revenue, and what is the compound annual growth rate (CAGR) of the market during, 2019-2029?
- What is the revenue generated by different types of fast chargers used for charging electric light duty vehicles and electric buses?
- What is the revenue generated by different applications of fast charging system, namely public charging and private charging?
- What is the revenue breakdown in different regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW)?
- Which are the key companies operating in the electric vehicle fast charging system market?
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision making for senior management.
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