New York, 4 April 2019:
The Global electric vehicle charging infrastructure market is anticipated to
reach USD 56.9 billion by 2026, according to a new study published by Polaris
Market Research. Owing to the increasing adoption of the electric vehicles
globally due to their reduced costs, increasing fuel prices, and increasing
government initiatives such as subsidies and tax benefits along with strict
environmental norms, the electric vehicle charging infrastructure market is
projected to gain traction over the forecast period. In 2017, Asia Pacific
region dominated the market by accounting the majority share in this market.
There has been
a significant increase in the adoption of electric vehicles (EVs) especially in
the cars segment. Major companies are working towards developing and launching
new EV models with advance research and development due to the growing demand.
This scenario has credited the growth of the EV charging infrastructure market.
Earlier the charging for these cars was done only at the residences, however,
owing to the increasing number of EVs in the market, major companies along with
the government organizations are coming up with the charging infrastructure for
the public utility. These infrastructures are being commonly developed within
the city limits, thus benefiting the customers to charge their cars at high
speed with reduced time and cost.
Browse Research Report On Electric Vehicle
Charging Infrastructure/ Stations Market Analysis: https://www.polarismarketresearch.com/industry-analysis/electric-vehicle-charging-infrastructure-market
The penetration
of EVs is high in regions such as Asia Pacific, North America and Europe, thus
making them prime revenue generators collectively of the EV charging
infrastructure market. Asia-Pacific is a lucrative market with high development
potential attributable to the fast expanding quantities of electric vehicles in
countries such as India, Japan and China. In the Asia-Pacific region, Japan has
the fastest adoption of EV charging stations. India on the other hand is
following the suite and have recently installed their first charging station
which was jointly developed by the government and an online cab service
provider.
Development of
advanced DC chargers which can charge the EVs in less than 30 minutes are
further helping the market to grow. Connectors such as CHAdeMO and Combined
Charging System (CSS) along with superchargers developed by Tesla Motors, Inc
are further fueling the growth of this market. In addition, the advancements in
the charger type for creating fast charging arrangements are projected to drive
the market development.
Major companies
profiled in the report include ChargePoint, Inc., Schneider Electric SE., Tesla
Motors, Inc., Delphi Automotive LLP, SemaConnect, Inc., SemaConnect, Inc.,
Leviton Manufacturing Co, Inc., General Electric, ABB Limited and
AeroVironment, Inc. among others. These companies introduced new technologies
and collaborate with other market leaders to innovate and launch new products
to meet the increasing needs and requirements of the consumers.
Access press release of Electric Vehicle Charging Infrastructure/
Stations Market: https://www.polarismarketresearch.com/press-releases/electric-vehicle-charging-infrastructure-market
Key Findings
from the study suggest Asia Pacific region is expected to command the market
over the forecast years. Major automobile manufacturers are seen to be
vigorously investing in advancing EV charging framework. For example, Bavarian
Motor Works (BMW), Volkswagen, Ford Motors, and Daimler declared a venture for
the advancement of over 350 charging stations throughout the European region.
North America is presumed to be the fastest growing market, developing at a
rate of more than 45% over the forecast period. The electric vehicle charging
infrastructure market is presumed to develop at a CAGR of over 40.8% from 2018
to 2026. The fast charger’s segment is presumed to display the speediest
development.
About Polaris
Market Research
Polaris Market Research is a global market research and
consulting company. The company specializes in providing exceptional market
intelligence and in-depth business research services for our clientele spread
across different enterprises. We at Polaris are obliged to serve our diverse
customer base present across the industries of healthcare, technology,
semi-conductors and chemicals among various other industries present around the
world. We strive to provide our customers with updated information on innovative
technologies, high growth markets, emerging business environments and latest
business-centric applications, thereby helping them always to make informed
decisions and leverage new opportunities. Adept with a highly competent,
experienced and extremely qualified team of experts comprising SMEs, analysts
and consultants, we at Polaris endeavor to deliver value-added business
solutions to our customers.
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