Vendor analysis for the global market for electric vehicle charging stations:
ABB Ltd.: The business provides EV charging solutions, such as reliable DC fast charging stations with solid connectivity and small, high-quality AC wall boxes.
ChargePoint Inc.: The company provides drivers with premium, user-friendly electric vehicle charging stations built with the latest hardware technology to be safe and dependable.
EV Safe Charge Inc.: The company provides EV charging solutions for various commercial property requirements, including fleet operations, offices, retail, hospitality, multi-unit housing, and industrial.
Leviton Manufacturing Co. Inc.: The company sells charging stations for electric cars, such as the Evr-Green Level 2 Electric Vehicle Charging Station.
Vendor Environment
The electric vehicle charging stations market has numerous regional and international vendors.
The following are a few well-known companies that provide electric vehicle charging stations on the market: ABB Ltd., Alfen NV, Allego BV, Besen International Group Co. Ltd., Blink Charging Co., ChargePoint Inc., Delta Electronics Inc., ENGIE EPS SA, Enphase Energy Inc., EV Safe Charge Inc., Leviton Manufacturing Co. Inc., Liikennevirta Oy Ltd., LS Power Development LLC.
Vendors on the market are industry-focused, category-focused, and diversified. Due to a rise in the usage of electric vehicles, it will grow significantly during the forecast period.
The number of new players entering the global EV charging station market has increased due to high product differentiation, cooperative product development between buyers and vendors, and medium capital investments.
Additionally, with the expectation of rising EV adoption, constructed EV charging stations will enter the market, further escalating the competition.
Customer landscape for the global EV charging station market:
· Essential regulations for purchases
· Adoptive rates
· The adoption lifecycle
· factors influencing price sensitivity
Market analysis for EV charging stations globally
Overview of the segment
The AC market will expand significantly for the forecast.
The benefits of AC charging stations, such as their low setup, installation, and maintenance costs, are credited for the growth. Furthermore, AC charging stations need less construction.
The PHEV market in emerging markets will also fuel the development of the segment.
Overview of geography
The market for EV charging stations is divided geographically into APAC, Europe, North America, South America, the Middle East and Africa.
The report estimates each region’s contribution to expanding the global electric vehicle charging stations market and offers valuable insights.
During the forecast period, 63% of the market’s growth will come from APAC. China is a crucial market participant in the area’s electric vehicle charging stations.
Moreover, this region’s market growth will surpass other regions’ markets. High sales of BEVs and PHEVs in nations like China, Singapore, Japan, and South Korea are just a few factors that explain APAC’s market growth.
Market dynamics for EV charging stations globally
Leading drivers- The market is expanding as a result of more mergers and acquisitions, and strategic alliances. For instance, in October 2019, Shanghai Chargedot New Energy Technology Co. Ltd. was acquired by ABB for a majority stake.
ChargePoint and the San Francisco Municipal Transportation Agency signed a contract in October 2019. (SFMTA). These elements will enhance market expansion during the predicted time frame.
Key trends- One significant market trend is the rise in the number of launches for EV charging solutions. Over the past few years, numerous well-known vendors have displayed or introduced cutting-edge EV chargers.
For example, in March 2022, EVI Technologies released its mobile application, enabling users to find nearby EV charging stations. Similarly, Extreme Vehicle Battery Technologies Corp. announced the release of the IONiX Pro Smart Station, an EV charging solution, in December 2020.
Therefore, during the forecast period, the market’s growth will be supported by the growing amount of EV charging solution launches.
Major challenges- The need for more standardization in EV charging infrastructure is hampering the market’s expansion. The absence of global standards for EV chargers causes the need for uniformity in EV charging infrastructure.
For example, Japan uses the CHAdeMO criterion for EV charging, while the US, Europe, and South Korea use CCS. Therefore, various standards for EV charging networks may limit market growth during the projected period.
The primary information presented in this report on the electric vehicle charging station market:
· CAGR of the market over the anticipated time frame
· Information in-depth on the variables influencing the electric vehicle charging station market’s growth between 2022 and 2026
· The parent market is the focus of an accurate assessment of the size of the electric vehicle (EV) charging station market and its participation in the market.
· Accurate forecasts of upcoming consumer behavior changes and trends
· Market expansion for EV charging stations in APAC, Europe, North America, South America, the Middle East, and Africa
· A comprehensive examination of the industry’s competitive landscape and complete vendor data
· Detailed analysis of the variables posing growth challenges to vendors in the electric vehicle charging station market
