Global EV Charging Station Market Size Overview:
The global Electric Vehicle Charging Station Market size is poised to attain extraordinary growth, with a
remarkable Compound Annual Growth Rate (CAGR) projected for the review period.
The meteoric rise in fossil fuel prices has propelled electric vehicles into
the spotlight as the preeminent alternative.
Concurrently, mounting concerns
regarding environmental sustainability and governmental endeavors aimed at
incentivizing low-emission vehicles, such as EVs, exert substantial influence
on the trajectory of this burgeoning industry.
Furthermore, the increasing focus of OEMs on
connected electric vehicle solutions for customers with EV range concerns
drives the EV charging station market globally. These factors, combined with
the other advantages of electric vehicles over traditional fuel-based
automobiles, foster the sales of EVs and the market demand.
Even though the electric vehicle battery prices
have been steadily declining, the batteries still constitute a major chunk of
the electric vehicle price. High prices
of charging stations are a major factor impeding the market growth at a large
scale.
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charging stations Industry
Charger Point: Electric
Vehicle Supply Equipment (EVSE) plays
Electric Vehicle Supply Equipment (EVSE) plays a pivotal role in supporting the
widespread adoption of electric vehicles (EVs). Also known as charging stations
or infrastructure, EVSE encompasses the hardware and associated technologies
that facilitate the charging process for electric vehicles. These systems come
in various forms, ranging from residential chargers for home use to public
charging stations strategically located in urban areas and along highways. The
evolution of EVSE reflects the growing demand for efficient and accessible
charging solutions to alleviate range anxiety and promote the seamless
integration of electric vehicles into everyday life.
The development and deployment of
advanced EVSE technologies are crucial for addressing the infrastructure
challenges associated with the transition to electric mobility. Innovations in
EVSE include faster charging capabilities, smart charging features, and
interoperability standards to ensure compatibility with different vehicle
models. Governments, businesses, and communities are investing in the expansion
of EVSE networks to create a robust charging infrastructure that supports the
increasing number of electric vehicles on the road. As the automotive industry
continues to embrace sustainability, the role of EVSE will remain integral in
shaping the future of transportation by providing convenient and reliable
charging options for electric vehicle users.
Major Players
Players leading the global EV charging station
market include Siemens, Schneider Electric, Leviton Manufacturing Co. Inc.,
ABB, Tesla, Eaton, EVgo Services LLC, ChargePoint Inc., The New Motion BV, and
Webasto Group, among others.
Industry/ Innovation/ Related News:
March 18, 2021 --- San
Miguel Power Association (SMPA) announced its plans to install a Level II Dual
Port charging station post the successful acquisition of a Charge Ahead
Colorado Grant from the Colorado Energy Office.
How Many Ev Charging
Stations In The US?
There are currently over 160,000
electric vehicle (EV) charging stations in the United States, according to the
U.S. Department of Energy's Alternative Fuels Data Center. This number is
growing rapidly, as the demand for EVs continues to increase.
The majority of EV charging
stations in the US are Level 2 chargers, which can charge an EV in 4-8 hours.
There are also a growing number of Level 3 chargers, which can charge an EV in
30 minutes or less.
EV charging stations are located
all over the US, but they are more concentrated in urban areas. There are also
a number of EV charging stations located along major highways.
The cost to charge an EV at a
public charging station varies depending on the type of charger and the
location. However, the cost of charging an EV is typically much cheaper than
the cost of filling up a gas tank.
If you are considering purchasing
an EV, be sure to research the availability of EV charging stations in your
area. There are a number of websites and apps that can help you find EV
charging stations.
EV
Charging Station Market - Regional Analysis
North America leads the global Electric Vehicle
Charging Station Market size with the largest market share. Factors such as
rapidly increasing sales of EVs fuelled by government support and increasing
fuel prices. In the US, electric car sales have been doubled since 2014,
clearly indicating the rising demand for EV charging stations. This further
suggests that the US EV charging market would create a larger revenue pocket
during the next few years.
Huge investments in the development of electric
vehicle infrastructure (recharge stations) given the growing demand for the
charging stations due to the increasing sales of EVs backed by government
initiatives, and high disposable income is also some of the key factors driving
the market growth in the region.
Europe is the second-largest market for
electric vehicle charging stations. The UK, France, Germany, and Norway, backed
by the rising sales of EVs due to the resurging economy and government
initiatives, contribute to the regional market hugely.
On the other hand, Asia Pacific Electric
Vehicle Charging Station Market size is growing rapidly due to the improving
economy and growing sales of EVs, mainly in the countries such as India, China,
and Japan. Growing investments for developing efficient EV charging stations to
meet the augmenting demand drive the regional market growth. Also, the presence
of many key market players in the region supports the growth of the market.
Electric
Vehicle Charging Station Market size Segments
The EV charging station market is segmented
into charging stations, connector types, installation type, vehicle type and
regions. The charging station segment is sub-segmented into DC charging
station, AC charging station, and inductive charging station. The connector
type segment is sub-segmented into chademo, combined charging system, and
others.
The installation type segment is sub-segmented
into residential and commercial. The vehicle type segment is sub-segmented into
battery electric vehicle (BEV), plug–in hybrid vehicle (PHEV), and others. The
region segment is sub-segmented into Asia Pacific, Americas, Europe, and
rest-of-the-world.
Electric
Vehicle (EV) Charging Station Market - Competitive Analysis
Highly competitive, the electric vehicle
charging station Industry Size appears fragmented due to several large players
form a competitive landscape. Key strategies traced from recent developments
include product or technology launch, agreement & partnership, acquisition,
and expansion.
Here are some tips for
finding EV charging stations:
- Use the Alternative Fuels Data Center's charging
station locator: https://afdc.energy.gov/fuels/electricity_locations.html
- Use the ChargePoint app: https://www.chargepoint.com/
- Use the Plugshare app: https://www.plugshare.com/
How Much Does It Cost
To Charge An Electric Vehicle At A Charging Station
The cost to charge an
electric vehicle (EV) at a charging station varies depending on a number of
factors, including:
- Type of charger: Level 3 chargers are the
fastest and most expensive, while Level 1 chargers are the slowest and
cheapest.
- Location: The cost of charging an EV can
vary depending on the location. For example, charging an EV in a city is
typically more expensive than charging an EV in a rural area.
- Time of day: The cost of charging an EV can
also vary depending on the time of day. For example, charging an EV during
peak hours is typically more expensive than charging an EV during off-peak
hours.
Here is a general
breakdown of the cost to charge an EV at a charging station in the United
States:
- Level 1 charger: $0.05-$0.10 per kWh
- Level 2 charger: $0.10-$0.20 per kWh
- Level 3 charger: $0.20-$0.50 per kWh
How to reduce the cost
of charging an EV:
There are a few things
you can do to reduce the cost of charging your EV:
- Choose a slower charger: Level 1 and Level 2
chargers are typically cheaper than Level 3 chargers.
- Charge your EV during off-peak hours: Many
utilities offer lower rates for electricity during off-peak hours.
- Look for charging stations that offer
discounts: Some charging stations offer discounts to members of
certain organizations or to customers who charge their EVs during certain
hours.
By following these
tips, you can save money on the cost of charging your EV.
electric vehicle
charging station contractors
Electric vehicle (EV) charging
station contractors are companies that specialize in the installation and
maintenance of EV charging stations. They can help you choose the right type of charger
for your needs, install it properly, and ensure that it is working properly.
EV charging station contractors can
also help you get the necessary permits and approvals from your local
government. They can also help you understand the financial incentives that are
available for EV charging stations.
When choosing an EV
charging station contractor, it is important to consider the following factors:
- Experience: Choose a contractor with
experience in installing and maintaining EV charging stations.
- Reputation: Ask for references and read
online reviews to get a sense of the contractor's reputation.
- Licensing and insurance: Make sure the
contractor is licensed and insured.
- Price: Get quotes from multiple contractors
before making a decision.
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