Technavio's Electric Vehicle (EV) Charging Station Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.

ABB Ltd., ChargePoint Inc., ENGIE SA, EV Safe Charge Inc., EVgo Services LLC, Leviton Manufacturing Co. Inc., Schneider Electric SE, Siemens AG, Tesla Inc., Webasto SE among others are of the few key vendors competing to maintain their market position in the market.

Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the high-end bicycle industry. For instance, in January 2021, the company launched a new public fast charger Sicharge D for the IEC markets with a voltage range up to 1,000 V.        

View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

• Segmentation by Type: 
• AC: 
• Low set-up, installation, and maintenance costs are typical of AC charging stations, which is one of the main reasons for their growing popularity. AC charging stations are a simple and convenient way to charge electric vehicles. They can deliver up to 22kW of electricity. For AC charging, an onboard charger is necessary, which is found in practically all-electric vehicles on the market today. These days, AC charging stations interface with an EV's control system to enable optimal charging. The lengthy charging time of an AC charging station is a key disadvantage, which can be ascribed to the tiny size of the onboard charger in electric vehicles.

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Regional Market Outlook
APAC will contribute 46% of the market growth during the forecast period.  The growth of this region can be attributed to the availability of a large number of vendors and the growing disposable income of a major share of the population.

Apart from regions, if we look at the country-wise market growth, China, US, France, Germany, UK, and Switzerland will contribute to the highest market growth.

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Latest Trends, Driving the Global High-End Bicycle Market

• Market Driver:
• An increasing number of M&A and strategic partnerships:

Advances in electric vehicle technology, improvements in charging infrastructure, and increasing socioeconomic conditions all contribute to increased demand for BEVs and PHEVs, which drives up the use of EV charging stations. Government authorities are supporting the usage of electric vehicles in response to growing worries about pollution and the depletion of conventional energy sources. Reduced taxes, funding, or the easier and faster installation of EV charging stations at various public stations, residential, and business sectors are all examples of government support. Governments in several markets are giving subsidies and incentives for the use of EV charging options, which is helping to improve BEV and PHEV sales. During the projection period, the growth of the EV charging station market would be influenced by the increase in sales of BEVs and PHEVs.

• Market Trend:
• An increasing number of launches in the field of EV charging solutions:
• One of the most important electric vehicle charging station market trends in the development of smart grids for EV charging, which will help to expand the use of variable generation technologies. It encompasses grid applications such as smart energy meters, supervisory control, and data acquisition (SCADA) systems, IT, and other communication systems. Globally, EV charging solutions are improving significantly. Prominent vendors operating in the market have showcased and launched advanced EV chargers in the last couple of years. Growth in the number of EV charging solutions is expected to act as a market enabler during the forecast period.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

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