The report forecasts the electric vehicle charging station market in China to grow at a CAGR of 115.84% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: An upcoming trend which will boost market growth is the increased adoption of V2G (vehicle to grid) systems. A vehicle to grid (V2G) system enables the flow of power between a grid and electric drive vehicles such as BEVs, PHEVs, and FCVs. These systems also provide a network to help the owner to communicate with the power grid. The V2G technology enables demand response services to the power grid, thereby enhancing the efficiency of the system during heavy loads.
According to the report, a key growth driver is the need for energy independence. Energy independence is the practice of reducing the reliance of a country on foreign oil imports to power its vehicles. In China, the dependence of the country's transport sector on gasoline has increased drastically in the past two decades. Owing to the volatility in oil prices, China is taking steps to scale down its imports and become self-reliant on imports to meet its energy demand. Considering the increasing share of the transport sector in gasoline consumption, China is promoting the use of EVs to reduce the burden on gasoline. Beijing also exempts small passenger EVs from rush-hour restrictions.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?