Electric Vehicle Charging Station Market to Grow at a Decent Rate for the Next Few Years
The global electric vehicle charging station market grew from an estimated $1,645.6 million in 2015 and is expected to reach $29,683.3 million by 2022 growing at a CAGR of 51.7% during 2016 – 2022.
The global electric vehicle charging station market grew from an estimated $1,645.6 million in 2015 and is expected to reach $29,683.3 million by 2022 growing at a CAGR of 51.7% during 2016 – 2022.
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<strong>Electric</strong> <strong>Vehicle</strong> <strong>Charging</strong> <strong>St<strong>at</strong>ion</strong> <strong>Market</strong> Insights by Product, Loc<strong>at</strong>ion,<br />
Size, Share, Development, <strong>Grow</strong>th and Demand Forecast <strong>to</strong> 2022<br />
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<strong>Electric</strong> <strong>Vehicle</strong> <strong>Charging</strong> <strong>St<strong>at</strong>ion</strong> <strong>Market</strong><br />
The global electric vehicle charging st<strong>at</strong>ion market grew from an estim<strong>at</strong>ed $1,645.6 million in 2015 and is<br />
expected <strong>to</strong> reach $29,683.3 million by 2022 growing <strong>at</strong> a CAGR of 51.7% during 2016 – 2022. The global market<br />
is c<strong>at</strong>egorized in<strong>to</strong> AC and DC charging st<strong>at</strong>ions based on <strong>the</strong> source of charging. DC charging st<strong>at</strong>ions are<br />
compar<strong>at</strong>ively costlier than its AC counterpart, which is why <strong>the</strong> market share of AC charging st<strong>at</strong>ion in terms of<br />
volume is much higher, as compared <strong>to</strong> th<strong>at</strong> in terms of value. The demand <strong>for</strong> EV charging st<strong>at</strong>ions in public<br />
sec<strong>to</strong>r has been increasing.<br />
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<strong>Electric</strong> <strong>Vehicle</strong> <strong>Charging</strong> <strong>St<strong>at</strong>ion</strong> <strong>Market</strong><br />
The increasing competition in <strong>the</strong> hospitality industry has been emerging as boon <strong>for</strong> <strong>the</strong> EV chargers market. In<br />
order <strong>to</strong> provide value-added services <strong>to</strong> <strong>the</strong>ir cus<strong>to</strong>mers, <strong>the</strong> hospitality companies offer EV charging facilities,<br />
which is increasing <strong>the</strong> demand of EV charging st<strong>at</strong>ions from <strong>the</strong> hospitality industry. The large multin<strong>at</strong>ional<br />
corpor<strong>at</strong>ions as a part of employee welfare also offer EV charging facilities.<br />
The market <strong>for</strong> electric vehicles in Asia-Pacific has been propelling, owing <strong>to</strong> <strong>the</strong> growing concern of government<br />
about environmental pollution. China is <strong>the</strong> <strong>for</strong>erunner in <strong>the</strong> EV market of Asia-Pacific, while <strong>the</strong> o<strong>the</strong>r major<br />
economies such as Japan, Australia, South Korea and India are also witnessing an increase in <strong>the</strong> number of<br />
electric vehicle sales. Owing <strong>to</strong> <strong>the</strong> increasing number of electric vehicles in <strong>the</strong> country, <strong>the</strong> government in<br />
China has recently announced a funding of $16 billion <strong>for</strong> <strong>the</strong> install<strong>at</strong>ion of new EV charging st<strong>at</strong>ions.<br />
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<strong>Electric</strong> <strong>Vehicle</strong> <strong>Charging</strong> <strong>St<strong>at</strong>ion</strong> <strong>Market</strong><br />
The major companies in <strong>the</strong> global EV charging st<strong>at</strong>ion market include Magna Intern<strong>at</strong>ional Inc., AeroVironment<br />
Inc., General <strong>Electric</strong>, Chargepoint Inc., Ea<strong>to</strong>n Corpor<strong>at</strong>ion, Schneider <strong>Electric</strong>, ABB Group, Efacec <strong>Electric</strong><br />
Mobility S.A., Chargemaster Plc, and Car<strong>Charging</strong> Group Inc.<br />
Request <strong>to</strong> Get <strong>the</strong> Sample Report@ https://www.psmarketresearch.com/market-analysis/electric-vehiclecharging-st<strong>at</strong>ion-market/report-sample<br />
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