Electric Charging Station Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Increasing adoption of electric vehicles globally to ensure rapid growth for electric charging station market

Globally, the electric charging station market is expected to grow with a CAGR of more than 39% during the forecast period from 2021 to 2029, starting from US$ 15.6 Bn in 2020.

The adoption of electric vehicles is growing rapidly across the world. Electric charging station provides the import role in the adoption of electric vehicles as they offer the safe, durable, reliable and the affordable charging infrastructure and ecosystem. The stringent emission norms adopted by the governments and the benefits offered by electric cars are accelerating the growth of electric charging stations in the numerous developed and underdeveloped countries. Furthermore, the considerable rise in the fuel price is creating a huge demand for the affordable alternative that is anticipated to boost the demand for the electric charging station worldwide. On the other hand, the price associated with the initial setup of the electric charging station is expected to hamper the growth of the market. Moreover, the development of advanced technologies in the electric charging station in near future is projected to fuel the market by opening several opportunities for companies working in this market.

The government funding to establish the public electric charging stations leading the growth of the electric charging station market

The public type charging station is dominating the electric charging market. The growing use of electric vehicles created the demand of efficient and reliable charging stations in the public infrastructure such as public paid parking, railway stations, malls, airport, and others. The electric charger station. Manufacturers are more focused on developing advanced electric chargers to ensure the easy availability with affordable prices. Moreover, on the basis of mode of electric charging, the market is led by the plug-in charging system. The wireless charging systems are expected shows the significant growth in the electric charging station market in upcoming years.

The Asia Pacific is the largest and the fastest growing region in the electric charging station market

The Asia Pacific dominates the growth of electric charging station market. Europe and North America hold a significant market share in this market. The growing awareness about the eco-friendly vehicles to overcome the population is the key factor that promoting the adoption of electric vehicles in the Asia Pacific. Thus, this will further escalate the growth of electric charging station market. Moreover, the growing manufactures focus on the technological advancements in the electric vehicles and the charging stations coupled with the high demand and consumption of vehicles are majorly contributing in the growth of electric charging station market in the Asia Pacific region.

Some of the prominent players operating in the electric charging station market include Schneider Electric SE, Siemens AG, ABB Ltd, ChargePoint Inc, Tesla, Inc., EVgo Services LLC, Webasto SE, Chargemaster PLC, , General Electric Company, Leviton Manufacturing Co., Inc , Eaton Corporation and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of electric charging station in 2020 and forecast up to 2029?
• Which is the largest regional market for Plug-in charging system segment?
• What are the major trends followed in electric charging station market across different regions?
• Who are the key electric charging station companies leading the market?
• What are the key strategies adopted by the leading electric charging station companies in market?

Unique data points of this report

• Statistics on electric vehicles penetration and spending worldwide
• Recent trends across different regions in terms of adoption of electric charging station for various vehicles
• Notable developments going on in electric vehicle industry
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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