Electric Vehicle Charging Outlets Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025
The global report
on Electric Vehicle Charging Outlets Market, published by UnivDatos Market Insights
(UMI) forecasts the number of EV charging outlets to reach 18.81 billion by
2025 showcasing a CAGR of 25% during the forecast period (2018-2025).
Enormously high EV adoption paired with governmental support through policies,
incentives, subsidies and investments are attributed to be the primary factors
driving the adoption and installation of electric vehicle and EV charging
outlets respectively. Based on the deployment type, the EV charging outlets are
classified as public and private EV charging outlets. Private EV charging
outlets are installed at home, commercial building, shopping malls and private
parking spaces among others. Private charging outlets dominate the market at
present. The increased ownership of EVs and lack of public EV chargers are the
major factors for the dominance of private EV charging outlets. However the
legislative bodies have agreed that the green mobility is possible only with
the sufficient availability of the charging systems at public locations, hence
they ramped up the investments and partnerships with equipment suppliers and
automotive OEMs. As a result of which the number of public EV charging outlets
is expected to grow at a CAGR of 26.1% during the forecast period.
In addition to
this, the time taken to charge a fully depleted EV battery depends on the type
of charger used to charge the battery. Slow and fast chargers are the different
type of chargers available at private and public locations. Slow charging
outlets typically take 4-12 hours to charge the EV batteries. In spite of the
long charging time, slow chargers are the preferred charging units in the EV
industry due to the convenience and low cost. On the other side, in the past
few years, fast chargers have also gained popularity due to lesser charging
time. Hence, local governments have set targets to increase the fast chargers
in their respective countries. Slow chargers are expected to dominate the
market however due to the increase in governmental efforts, fast chargers are
expected to grow at highest CAGR of 37.1% during the forecast period.
The slow chargers
can further be bifurcated into level 1 and level 2 chargers. These chargers
differ in the electrical specifications and charging time. For instance, Level
1 chargers require a power level of up to 1.8kW and take approximately 8-12
hours to charge the EV battery. While level 2 chargers require a power level of
up to 19.2kW and take approximately 4 to 6 hours of charging time. Another
level of charging is level 3 chargers which falls under fast chargers. These
chargers take very less charging time, i.e., 20 to 30 minutes to charge a fully
depleted EV battery. Among all charger type level 2 chargers dominated the
market in 2017. The level 2 chargers are anticipated to continue their
dominance during the forecast period and will capture almost 75% of the global
market in 2025 growing at a CAGR of 25.5% during the forecast period. Wide
adoption of level 2 chargers at locations such as residential complexes,
commercial buildings, office locations and other such locations would drive the
sale of level 2 chargers.
The technology of
EV battery charging is continuously improving with advancements in battery
packs, connectors, charging equipment and mode of charging. On the basis of
different mode of charging, EV charging outlets are fragmented as plug-in and
wireless EV charging outlets. Plug-in chargers dominates the market in 2017, however,
in the coming years the market share of wireless EV charging outlets is
expected to increase and is anticipated to hold 10.2% by 2025.
Additionally, for
better understanding of global EV charging outlets adoption rate, the study is
conducted for different region and country including North America (U.S.,
Canada, and Rest of North America), Europe (France, Germany, The Netherlands,
Norway, Portugal, Sweden the U.K and Rest of Europe), Asia-Pacific (China,
Japan, India, South Korea, Singapore, and Rest of APAC), and Rest of World (The
UAE, Chile, South Africa, Brazil and other countries). Owing to substantial
packages of government’s incentives and policies paired with high EV uptake in
China, APAC dominated the market in 2017, with a market share of approximately
75%, followed by Europe and North America.
Some of the major
key players operating in the global EV charging outlets
market includes BYD Company Ltd,
ChargePoint Inc., Eaton Corp., EV BOX, Evgo, Fortum OYJ, General Electric
Company, Schneider Electric SE, Tesla Inc. and The New Motion. These players
are partnering with automotive OEMs, local and central governments bodies and
other equipment suppliers to strengthen their foothold in the rapidly growing
electric vehicle charging outlets market.
Market
Segmentation
Market
Insights, by Deployment Type
Public
Private
Market
Insights, by Charger Type
Slow
Fast
Market
Insights, by Level of Charging
Level 1
Level 2
Level 3
Market
Insights, by Mode of Charging
Plug-in
Wireless
Market
Insights, by Geography
North
America Electric Vehicle Charging Stations Market
The U.S.
Canada
Rest of North
America
Europe
Electric Vehicle Charging Stations Market
Germany
France
The U.K.
The Netherlands
Norway
Sweden
Portugal
Rest of Europe
Asia-Pacific
Electric Vehicle Charging Stations Market
China
Japan
India
Korea
Singapore
Rest of APAC
Rest of
the World Electric Vehicle Charging Stations Market
Brazil
South Africa
Chile
The UAE
Other Countries
The Global
EV Charging Outlets Market can be
customized to regional/country level or any other market segment. Besides this,
UnivDatos Market
Insights (UMI) understands that you may have your own
business need, please connect with our analyst, who will ensure you get a
report that suits your needs.
Contact Us
UnivDatos Market
Insights (UMI)
Email: sales@univdatos.com
Labels: Electric Vehicle Chargers Market, Electric Vehicle Charging Outlets Market, EV Charging Outlets Market, ev charging station market share, ev charging station market size
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