United Kingdom Electric Vehicle Charging Infrastructure Market Size & Forecast 2027

 Rising awareness regarding environment supports the growth of the United Kingdom Electric Vehicle Charging Infrastructure Market, 2027F.

According to TechSci report on, “United Kingdom Electric Vehicle Charging Infrastructure Market - By Region, Competition Forecast & Opportunities, 2027”. United Kingdom electric vehicle charging infrastructure market may flourish with an impressive CAGR during the forecast period of 2023-2027, on the backbone of growing investments in the construction of electric vehicle charging infrastructure. Rising sales & thus the production of the electric vehicle is actively driving the growth of the United Kingdom electric vehicle charging infrastructure market in the upcoming five years. Rapidly increasing pollution and exhausts of the automotives has effectively shifted the preferences toward electric vehicles. Demands for the green fuel, decreasing the environment harming gases, further supports the growth of the United Kingdom electric vehicle charging infrastructure market in the next five years. Consistent research and technological advancement in the electric vehicles are also responsible for the effective growth of the Untied Kingdom electric vehicle charging infrastructure market in the future five years.

Increasing financial support from the government and privatization of the construction of the electric vehicle charging infrastructure is also substantiating the growth of the United Kingdom electric vehicle charging infrastructure market in the forecast years through 2027F. Growing number of the market players investing in the construction, as well as the development of the infrastructure with localized approach to provide efficient charging for the electric vehicle also facilitate the growth of the United Kingdom electric vehicle charging infrastructure market in the forecast period.

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Electric Vehicle Sales Drive Market Growth

Rapidly increasing sales of the electric vehicle is the major factor responsible for the growth of the United Kingdom electric vehicle charging infrastructure market in the upcoming five years. Electric vehicle cars sales have increased by 76.3% in the year 2021. More than 450,000 electric cars are currently running in the country. The demand for the electric vehicles is further expected to increase due to the consumer’s inclination toward affordable fuel and green fuel for the vehicles.

While the demands for the hybrid vehicles have also increased that provide better shift in the consumer preferences toward electric vehicles. There were over 775,000 hybrid vehicles as of April 2022. Further increase is anticipated due to rising awareness among the population regarding harmful effects of the carbon burning fuels and its exhaustion that would affect the environment and energy consumptions in the future years. Surge in the demand for the electric vehicles have generated considerable growth in the United Kingdom electric vehicle charging infrastructure market in the next five years.

The United Kingdom electric vehicle charging infrastructure market is segmented by vehicle type, type, charging mode, installed location, connector type, type of charging, competitional landscape, and regional distribution. Based on vehicle type, the market is further segmented into two- wheeler, passenger car, and commercial vehicle. Passenger cars are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of shift in preference of consumers to buy electric vehicles instead of investing in the purchase of traditional vehicles. People buy electric vehicles due to their cost-effectiveness, low maintenance, and environment-friendly nature thereby substantiating the growth of the United Kingdom electric vehicle charging infrastructure market in the next five years.

By type, the market is differentiated between AC and DC. DC charging type is expected to lead the market segment and register largest revenue shares in the account of its advantages over the AC charging. DC charging provides faster charging as compared to AC charging type and is thus more efficient mode, thus driving the growth of the United Kingdom electric vehicle charging infrastructure market in the future five years.

Based on charging mode, the market is differentiated into plug-in and wireless. Based on installed location, the market is divided between commercial and residential. By connector type, the market is fragmented into Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, and others. Based on type of charging the market is bifurcated between slow and fast charging. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire & Humberside.

A partial list of major market players of the United Kingdom electric vehicle charging infrastructure market includes :

• Chargemaster Limited (BP Pulse)
• SWARCO UK (ChargePlace Scotland)
• ChargeYourCar Ltd ·
• Fastned
• Geniepoint
• Gridserve
• Tesla Inc.
• Pod Point
• ABB Ltd.
• Instavolt

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Market Segmentation

The United Kingdom electric vehicle charging infrastructure market is segmented by vehicle type, type, charging mode, installed location, connector type, type of charging, competitional landscape, and regional distribution. Based on vehicle type, the market is further segmented into two- wheeler, passenger car, and commercial vehicle. By type, the market is differentiated between AC and DC. Based on charging mode, the market is differentiated into plug-in and wireless. Based on installed location, the market is divided between commercial and residential. By connector type, the market is fragmented into Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, and others. Based on type of charging the market is bifurcated between slow and fast charging. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire & Humberside.

“United Kingdom has an established market for the electric vehicle and thus the development of electric vehicle charging infrastructure is facilitated due to it. Demands for the electric vehicles, comfortable travelling, coupled with demands for the green fuel working automotives influence the growth of the United Kingdom electric vehicle charging infrastructure market in the future five years. Rising investments in the construction projects, concern for the environmental degradation, and surging demand for the easier charging of the electric vehicle is also actively influencing the growth of the United Kingdom electric vehicle charging infrastructure market in the next five years. New market players may focus on the research and development along with product development with advanced technologies to support their brand establishment in the market players,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“United Kingdom Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United Kingdom electric vehicle charging infrastructure market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United Kingdom electric vehicle charging infrastructure market.

 

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Saudi Arabia Electric Vehicle Charging Infrastructure Market to be dominated by Passenger Car through 2027

 Growing demand for EV fast-charging infrastructure and stringent emission regulations are expected to drive the demand for Saudi Arabia electric vehicle charging infrastructure market in the forecast period, 2023-2027.

According to TechSci Research report, “Saudi Arabia Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2027”, the Saudi Arabia electric vehicle charging infrastructure market is expected to witness robust CAGR in the forecast period, 2023-2027. The rapid transition of the automotive industry from fuel-based to electric vehicles to decarbonize the transportation industry is accelerating the adoption of electric vehicles in the Kingdom of Saudi Arabia. The electric vehicle industry is at a nascent stage, and the total electric vehicle penetration in Saudi Arabia is less than 1% at present which provides ample growth opportunity to the market players of Saudi Arabia electric vehicle charging infrastructure market.

However, the high cost of electric vehicles may restrain the Saudi Arabia electric vehicle charging infrastructure market growth in the forecast period.

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The Saudi Arabia electric vehicle charging infrastructure market is segmented into vehicle type, type, charging mode, installed location, connector type, type of charging, regional distribution, and company.

Based on vehicle type, the market is divided into two- wheeler, passenger cars, and commercial vehicles. Passenger electric vehicles are expected to hold the largest market share in the forecast period due to the shift in preference of consumers to buy electric vehicles instead of investing in the purchase of traditional vehicles. People buy electric vehicles due to their cost-effectiveness, low maintenance, and environment-friendly nature.

Based on type, the market is divided into AC and DC. DC charging type is expected to account for significant market share in the next five years as they offer fast charging than AC charging and will take less time to charge the electric vehicles.

Based on charging mode, the market is divided into plug-in and wireless. Wireless charging is expected to witness the fastest incremental growth in the next five years as it is highly convenient and does not damage the wires.

Based on installed location, the market is divided into commercial and residential. Commercial locations are expected to dominate the market in the next five years. Setting up charging stations requires high investments, which is one of the major reasons people prefer to charge electric vehicles from public charging stations.

Based on connector type, the market is divided into type 1, type 2, UK 3-Pin, CHAdeMO, CCS, and others. CCS connector type is a combined charging system, and the demand for CCS connectors is expected to grow at a rapid rate in the next five years. CCS is used for the rapid charging of electric vehicles. It used connections of the Type 2 interface and the additional two DC power lines that can run at higher voltages than the standard connector. It does not require much space on electric cars and can be used on a range of vehicles.

Based on the type of charging, the market is divided into slow and fast. Fast charging is expected to account for a significant market share in the forecast period as it is highly preferred among consumers due to convenience and speed. Fast charging stations focus on recharging the electric batteries in a minimum amount of time. With the ongoing advancements in fast charging technology, the average time for rapid charging is decreased, due to which the traveling distance for electric vehicles can be increased. The installation of fast-charging stations at public places is expected to act as a positive factor for the sales of electric vehicles.

Major market players operating in Saudi Arabia electric vehicle charging infrastructure market are:

• Electromaps S.L.
• Schneider Electric Saudi Arabia
• NEC Saudi Arabia Ltd.
• ABB Ltd.
• CATEC Mobility

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“Saudi Arabia is developing the electric vehicle manufacturing industry, and the current framework for the construction of electric vehicle charging infrastructure  is at an early stage and requires significant investment. Saudi Arabia has signed a memorandum with the United Kingdom to reduce carbon emissions and support the Saudi Vision 2030, and both the countries cooperate and share technical expertise to develop technologies for electric vehicles and smart grids, which is expected to act as a positive factor for Saudi Arabia electric vehicle charging infrastructure  market. Introduction of “On-the-go” charging” as well as wireless charging and manufacturing of advanced batteries with high capacity is expected to propel the Saudi Arabia electric vehicle charging infrastructure market till 2027”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Saudi Arabia Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia electric vehicle charging infrastructure market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia electric vehicle charging infrastructure market.

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Electric Vehicle Charging Infrastructure Market to Surpass USD37.85 Billion by 2026

Upsurging demand for electric vehicles coupled with increasing environmental concern across the world to drive global electric vehicle charging infrastructure market.

According to TechSci Research report “Electric Vehicle Charging Infrastructure Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026”, Global electric vehicle charging infrastructure market is anticipated to grow at a CAGR of 31.40% in value terms, in the next five years to reach USD37.85 billion by 2026. Increasing adoption of electric vehicles as these are eco-friendly and emit less greenhouse emissions in addition to incentives offered for the purchase of electric vehicle are driving its sales, which in turn is elevating the demand for electric vehicle charging infrastructure through 2026. Besides, increasing proliferation of e-commerce and presence of players such as Walmart, Flipkart, Alibaba, among others are contributing to the increased demand of logistics transportation. Compact electric vehicles are increasingly being used for this purpose, thereby, fueling the electric vehicle and electric vehicle charging infrastructure market through 2026.

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The demand for connected electric car services is witnessing a major increase attributing to the rising need for basic vehicle connectivity applications, such as real-time updates, navigation, and in-car infotainment. Moreover, increase in demand for connectivity solutions in electric cars, need for enhanced driving experience and introduction of Internet of Things (IoT) in the automotive industry are the key factors that contribute towards the adoption of connected electric cars. The increasing adoption of connected electric cars is anticipated to drive growth of the electric vehicle charging infrastructure market.

Global electric vehicle charging infrastructure market can be segmented based on vehicle type, type, charging mode, installed location, connector type, and type of charging, company and region. In terms of vehicle type, two-wheeler led the market with share of over 68% in 2020 and the dominance of the segment is projected to continue through 2026. Fluctuating prices of petrol and due to large share of two wheelers, the charging stations are also more for two wheelers than four wheelers. In the forecast period, two-wheeler charging infrastructure is expected to dominate over four-wheeler, but the four-wheeler segment is expected to show a good year-on-year growth.

In terms of type of charging, global electric vehicle charging infrastructure market is segmented into slow and fast. Fast charger is the fastest growing type of electric vehicle chargers, and the segment accounted for 31.27% market share in the year 2020 and is expected to reach 33.10% market share by 2026, growing with a CAGR of 30.39% in the forecast years. Fast chargers are anticipated to grow at a robust pace owing to their ability to charge vehicle in lesser time frame compared to its counterpart. Moreover, electric vehicle charging infrastructure manufacturers are investing heavily in research and development to develop efficient fast electric vehicle chargers.

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Some of the major players operating globally in electric vehicle charging infrastructure market are Charge Point, Inc. EV Box B.V., ABB Ltd., Tesla,Inc., Webasto Group, Siemens AG, Schneider Electric SE, Eaton Corporation plc, Royal Dutch Shell Plc, TGOOD Global Ltd. The market for electric vehicle charging infrastructure is consolidated with five players accounting for share of over 45% in 2020. Among these, TGOOD Global Ltd. has the largest presence around the world with 38 thousand installed charging stations as of 2020. Players operating in the market are focusing on introducing innovative charging infrastructure that works with all the electric vehicle and increasing number of charging stations around the globe.

“Asia-Pacific is the largest electric vehicle charging infrastructure market across the globe, accounting for 63.76% market share in the year 2020, owing to increasing electric vehicle population, backed by expanding base of consumers and rising per capita income in the region. Asia-Pacific electric vehicle charging infrastructure market is forecast to grow at a CAGR of 27.07% in the next five years. Inside Asia-Pacific, China is one of the largest markets for the electric vehicle charging infrastructure in the region, accounting for 89.50% market share in 2020. In 2020, the government announced to spend approximately USD1.4 trillion on a digital infrastructure public spending program, which is anticipated to push the electric vehicle charging infrastructure market in the country.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Electric Vehicle Charging Infrastructure Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026, Segmented By Vehicle Type (Two-Wheeler, Passenger Car, and Commercial vehicle), By Type (AC and DC), By Charging Mode (Plug-in and Wireless), By Installed Location (Residential and Commercial), By Connector Type (UK 3-Pin, Industrial Commando, Type 1, Type 2, CHAdeMO, CCS and Tesla’s Proprietary Supercharger Connectors), By Type of Charging (Slow and Fast), By Region, By Company”, has evaluated the future growth potential of global electric vehicle charging infrastructure market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global electric vehicle charging infrastructure market.

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Electric Vehicle Charging Infrastructure Market Size, Share 2026

According to #TechSci Research Report- Global Electric Vehicle Charging Infrastructure market is expected to grow from USD7.39 billion in 2020 to USD36.72 billion in 2026, growing at CAGR of 31.22% until 2026 because of increased GHG emission and rising demand for electric vehicles, globally.

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Vietnam Electric Vehicle Charging Infrastructure Market to grow at a Significant Rate through 2026 – TechSci Research

 Increase in vehicle ownership and growing need for energy-efficient commuting is expected to drive the demand for Vietnam electric vehicle charging infrastructure market for forecast period.

According to TechSci Research report, “Vietnam Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two-Wheeler, Four-Wheeler, Commercial Vehicle) By Type (AC and DC) By Installed Location (Residential and Commercial) By Company, By Region, Forecast & Opportunities, 2026”, Vietnam electric vehicle charging infrastructure market is expected to witness steady growth in the next five years. Vietnam ranks among the top 15 countries with worst air quality in the world which is the major driver for increase in demand for electric vehicles. Efforts towards development of electric charging infrastructure is crucial factor for widespread adoption of electric vehicles. Key players are collaborating with car service providers to integrate charging stations with existing infrastructure. Government is offering subsidies and income tax rebates to buy electric vehicles have led to significant growth of the market. Electric vehicles operating on electricity reduces the operational cost of vehicles. Increasing number of electric vehicles can affect the functionality of charging stations such as load level of transformer, load curve and amount of power generation. Also, advancements of technology in communication sector such as collecting of real-time information of all nearby electric charging stations to enhance the connectivity is expected to boost the market.

Since the onset of pandemic COVID-19, complete lockdown was imposed all around the globe. Leading authorities released a set of precautionary measures to guidelines to fight the novel coronavirus. Manufacturing units were shutdown and shortage of skilled labors was observed in Vietnam. Automotive industry took a hit and saw a decline in the market growth. After the ban of lockdown was lifted by leading authorities, companies began to start production which is expected to foster the growth of the Vietnam electric vehicle charging infrastructure market.

However, high cost involved for initial setup of fast charging infrastructure which may hamper the market growth for the forecast period.

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Vietnam electric vehicle charging infrastructure market is segmented into vehicle type, type, installed location, regional distribution, and company. Based on vehicle type, market is categorized into two-wheeler, four-wheeler, and commercial vehicle. Two-wheeler electric vehicle segment is expected to account for major market share during the forecast period, 2022-2026 owing to rising awareness regarding harmful emissions from conventional fuels. Motorbike riders are searching for environment aware and affordable electric vehicles which is influencing the electric charging infrastructure market for the next five years. Motorbikes are cheaper to purchase and is more able to tackle the urban traffic jams efficiently than four-wheeler vehicles. Based on installed location, market is further bifurcated into residential and commercial. The commercial space segment is expected to dominate the electric vehicle charging infrastructure market to provide the consumers to charge their vehicle according to need and convenience. Initiatives by leading authorities and key players for expansion of electric vehicle charging infrastructure has a positive impact on the growth of the market. Over-night charging of electric vehicles at home is not sufficient for long distances, so the need for development of supportive electric vehicle charging infrastructure is expected to boost the market. Building of charging stations at malls, shopping, and apartment complexes to minimise the pressure from consumers over the concern for battery drainage to run electric vehicles. Major market players are employing a team of technicians in the capital city Hanoi to supply emergency charge if the need arises.

VinFast, Vietnam Oil & Gas Group (PVOIL), HGPT Mechanical, Electricity of Vietnam’s Central Power Corporation, Mitsubishi Motors Vietnam are the leading players operating in Vietnam electric vehicle charging infrastructure market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several electric vehicle charging infrastructure manufacturers are coming up with their technologically advanced offerings.

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“Vietnam is going through urban transformation similar to other countries in Southeast Asia’s region and people are migrating towards cities which is resulting in increasing the cases of traffic congestion during peak hours. Government is improving the public transportation networks and the demand for traffic management systems driven by artificial intelligence is on rise. Manufacturers or key players can invest to produce electric vehicles which are affordable and can provide solution to rising pollution levels in Vietnam” said Mr. Karan Chechi, Research Director with TechSci Research, a global research-based management consulting firm.

“Vietnam Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two-Wheeler, Four-Wheeler, Commercial Vehicle) By Type (AC and DC) By Installed Location (Residential and Commercial) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of Vietnam electric vehicle charging infrastructure market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Vietnam electric vehicle charging infrastructure market.

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India Electric Vehicle Charging Infrastructure Market Size, Share FY2027

According to #TechSci Research Report- India electric vehicle charging infrastructure market is projected to grow at a robust CAGR over the next five years owing to government initiatives such as production-linked incentives is expected to raise the market for automobiles sector and aid in the growth of electric vehicle market in India.

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India Electric Vehicle Charging Infrastructure Market to grow at an impressive rate through FY2027 - TechSci Research

 Stringent government policies and high disposable income to surge demand for India electric vehicle charging infrastructure market in forecast period.

According to TechSci Research report, “India Electric Vehicle Charging Infrastructure Market By Type of Charging (Direct Charging and Battery Swapping), By Location (Highways, Cities and Others), By Application (Commercial, Residential), By Charger Type (Fast Charger, Slow Charger), By Mode of Charging (Plug-in charging system, Wireless charging system), By Company and By Geography, Forecast & Opportunities, FY2027”, India electric vehicle charging infrastructure market is expected to witness robust growth in the next five years owing to stringent government policies to support alternative fuel and minimize the burden on conventional fuels is the contributing factor for the electric vehicle charging infrastructure growth during the forecast period. Under the FAME II scheme government has decided to provide subsidy for 10-lakh two wheelers, 5 lakh three-wheelers, around 55,000 four-wheelers, and 7,000 buses running on electricity which is anticipated to create lucrative opportunities for the electric vehicle charging infrastructure market growth. Recent developments and technological innovations to upgrade the existing electric vehicle charging infrastructure for instance recycling, battery reuse and leasing to bring down the high up-front cost is expected to act as contributing factor in the India electric vehicle charging infrastructure market growth. Also, setting up charging station separately for electric vehicles does not require possession of license which is expected to foster the demand for the electric vehicle charging infrastructure.

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India electric vehicle charging infrastructure market can be segregated based on type of charging, location, application, charger type, mode of charging, region, and company. Based on charger type electric vehicle charging infrastructure is fragmented into fast charging and slow charger sector. Fast charging is expected to hold a major chunk in the market up to 2026 owing to less time requirement to charge the vehicles as compared to conventional fuel vehicles which takes less than 10 minutes. Fast charger requires heavy duty components such as AC/DC conversion, usage of high-power levels and installed control circuits make the charging infrastructure heavier therefore, to lower the weight and balance the overall cost in an efficient way. Based on location analysis, majority of electric charging stations are built in cities and hold the lion’s share in 2020. Government has decided to install electric charging stations on highways as well to provide convenience to existing and new consumers.

Sun Mobility, Mahindra & Mahindra Limited, Tata Motors Limited, Ather Energy Pvt. Ltd., Cellprop Private Limited, Exicom Tele-Systems Limited, Panasonic Corporation, Semco India Pvt. Ltd., Fortum Oyj, ABB Group are the leading players operating in India electric vehicle charging infrastructure market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several electric charging vehicle infrastructure manufacturers are coming up with their technologically advanced offerings.

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“Consistent roll-out of policies by government to support the market growth of electric vehicles charging infrastructure and permission of sales and registration of electric vehicles without batteries is expected to boost the electric vehicle charging infrastructure market. Preference shift towards cleaner and alternative fuel coupled with lower maintenance costs for electric vehicles is anticipated to fuel the market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Electric Vehicle Charging Infrastructure Market By Type of Charging (Direct Charging and Battery Swapping), By Location (Highways, Cities and Others), By Application (Commercial, Residential), By Charger Type (Fast Charger, Slow Charger), By Mode of Charging (Plug-in charging system, Wireless charging system), By Company and By Geography, Forecast & Opportunities, FY2027” has evaluated the future growth potential of India electric vehicle charging infrastructure market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India electric vehicle charging infrastructure market.

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Electric Vehicle Charging Infrastructure Market, Size, Share 2024 - TechSci Research

Electric Vehicle Charging Infrastructure Market to Grow at 17% through 2024

Increasing adoption of electric vehicles across the globe along with rising number of government initiatives to drive development of electric vehicle charging infrastructure

According to TechSci Research report, “Global Electric Vehicle Charging Infrastructure Market By Type, By Installed Location, By Region, Competition, Forecast and Opportunities, 2024”, the global electric vehicle charging infrastructure market is anticipated to grow at a CAGR of 17% until 2024, on account of growing government support for electric commercial vehicles market and increase in number of electric vehicles, globally. Increasing level of pollution creates a huge opportunity for adoption of electric vehicles (EVs) and development of electric vehicle charging infrastructure during 2019-2024. To reduce environmental pollution caused due to the use of gasoline and petrol vehicles, governments across the globe are promoting the adoption of electric vehicles worldwide as electric vehicles help in reducing the global carbon footprint and make the environment clean. Countries such as China, US, Germany, France, Netherlands, etc., are the major adopters of EVs. Moreover, grid integration of electric vehicles is projected to offer huge impetus to global electric vehicle infrastructure market in the coming years.

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Evolution of smart grid technologies and the concept of virtual power plants is forecast to further boost the global market for electric vehicles and its related charging infrastructure market during the forecast period. Additionally, increasing consumer inclination towards electric vehicles, on account of growing concerns associated with rising GHG emissions and deteriorating air quality is likely to push demand for electric vehicle connectors in the coming years. Recently, various leading automotive manufacturers have made huge investments in developing electric vehicle charging infrastructure and new technologies, such as lithium-ion batteries, ultra-fast DC charging networks, autonomous park-and-charge, and wireless charging, to boost the EV sales.

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Global electric vehicle charging infrastructure market can be segmented based on charging type, by installed location and by region. In terms of charging type, AC type charging system accounts for the largest share and the trend is expected to continue in the forthcoming years as well. Some of the major players operating in the global electric vehicle infrastructure market include ChargePoint, EVBox, Qingdao Teld New Energy Co., Ltd, State Grid Corporation of China, Star Charge and Shell.

“Asia Pacific dominated the global electric vehicle charging infrastructure market in 2018, backed by growing adoption of electric vehicles in major economies such as China, Japan, South Korea, etc., and the presence of a large number of electric vehicles in these regions, especially in China. Demand for electric vehicle charging infrastructure is anticipated to further increase in Asia-Pacific in the coming years, on account of rising electric vehicle fleet size and implementation of stringent regulations by governments to promote use of electric vehicles. Rising concerns over increasing pollution from the transportation sector and depleting natural resources is leading to adoption of policies that discourage use of conventional vehicles and promote the use electric vehicles, which in turn is anticipated to bolster growth in the global electric vehicle infrastructure market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Electric Vehicle Charging Infrastructure Market By Type, By Installed Location, By Region, Competition, Forecast and Opportunities, 2024” has evaluated the future growth potential of global electric vehicle charging infrastructure market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global electric vehicle charging infrastructure market.

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