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Electric Vehicle (EV) Charging Station Market Size, Share, Growth, Development, Opportunity, and Forecast To 2027

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Electric Vehicle (EV) Charging Station Market Size, Share, Growth, Development, Opportunity, and Forecast To 2027

February 16
17:23 2021
Electric Vehicle (EV) Charging Station Market Size, Share, Growth, Development, Opportunity, and Forecast To 2027
The “Global Electric Vehicle (EV) Charging Station Market” report has been added to reportocean.com offering

Report Ocean published new research study title electric vehicle charging station market. As per the study EVCS market is estimated to grow at a CAGR of 20% in terms of revenue and 17.5% in terms of volume. The EVCS market was calculated close to US$ 26 Bn in the year 2020 with 905 thousand installed units across the globe. Increasing sales of electric vehicles in North America and Europe has resulted in significant growth of the market. Additionally, implementation of EV for public transport is estimated to have a positive impact on the market.

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CO2 or the greenhouse gas emission is reaching all time high since past few years. The growing environmental concerns and depletion of the ozone layer are the major causes of the carbon emission in the environment. Growing carbon emission is mainly due to increasing number of vehicles on road across the globe and the exponentially growing transportation sector. international aviation witnessed a major percentage increase in greenhouse gas emissions over 1990 levels (+114 %), followed by road transport (+22 %) and international shipping (+33 %). It is also observed that emissions from transport (including aviation) further increased by 1.5 % in 2017. Many governments are making investments in EV-enabling infrastructure for instance making charging stations, special parking spots and other facilities available for the drivers. For instance, Estonia installed total 165 fast chargers in the entire country and guaranteed that every city with at least 5,000 inhabitants hosts at least one station. Governments in Europe have been offering funds to EV-related R&D. There is also substantial support from governments to address congestion problems, environmental problems and other mobility issues. For instance, the Amsterdam city has made available special parking permits for electric car sharing fleet across the city. Thus, increasing involvement of government and constant investments are projected to have a positive impact on the adoption of electric vehicles in the countries and in turn increase the number of charging stations globally.

Government is promoting use of electric vehicle across the globe by providing various subsidies and other benefits for both supply and demand side. Reducing emissions of greenhouse gases such as CO2 and NOx is the major reason for the involvement of the government. For instance, Canadian Tire and Petro-Canada’s networks received partial finance from the federal government through Alternative Fuel Infrastructure Deployment Initiative and Natural Resource Canada’s Electric Vehicle. Without grants and subsidies, EVs are significantly more expensive than Internal Combustion Engine (ICE) cars. Due government aids, EV models are cheaper than their ICE counterparts. Thus, consumers looking to benefit from these types of regulations are attracted to EV as they provide a cheap mobility solution in the recent period of high fuel prices. The South Korean government announced plans to invest a total of 200 billion won ($181 million) into building more public charging stations for electric vehicles, with the aim to nurture the growth of the local EV market.

Key players operating in the global electric vehicle charging station include, ABB Ltd., BYD Auto, Chargemaster PLC, ChargePoint, Inc., Eaton Corporation plc, Leviton Manufacturing Co., Inc., Schneider Electric SE, SemaConnect, Inc., Siemens AG, Tesla Motors, Inc. among others.

  • In April 2020, BYD and Toyota have launched a joint venture company to conduct research and development of battery electric vehicles (BEVs). Through this joint venture, the company will focus on the research and development of battery electric vehicles with technology and know-how from both China and Japan
  • In April 2019: ABB and Porsche announce collaboration for developing next generation electric vehicle chargers. Japan-ABB has teamed up with Porsche Japan to develop a dedicated high-power charger for Porsche’s electric vehicles (EVs) in Japan.

Segmentation:

  • By Charger Type
    • Slow Charger (≤ 22 kW)
    • Fast Charger (> 22 kW)
  • By Connector Protocol
    • CHAdeMO
    • Combined Charging System (CCS)
    • Others
  • By Charging Method
    • AC Charging
    • DC Charging
  • By Applications
    • Commercial
      • Hospitality
      • Retail
      • Office Spaces
      • Fleet station
    • Public Transport
    • Private Transport
      • Others Public Spaces
    • Residential
      • Single-Unit Houses
      • Multi-dwelling units (Apartment buildings)
  • By Region
    • North America
      • The U.S.
      • Canada
      • Mexico
    • Europe
      • Western Europe
        • The U.K.
        • Germany
        • France
        • Netherlands
        • Italy
        • Spain
        • Rest of Western Europe
        • Eastern Europe
          • Russia
          • Ukraine
          • Poland
          • Rest of Eastern Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia & New Zealand
      • ASEAN
      • South Korea
      • Rest of Asia Pacific
    • South America
      • Argentina
      • Brazil
      • Rest of South America
    • Middle East
      • UAE
      • Saudi Arabia
      • Qatar
      • Egypt
      • Rest of Middle East
    • Africa
      • South Africa
      • Nigeria
      • Rest of Africa

READ FULL REPORT @ https://reportocean.com/industry-verticals/sample-request?report_id=bis40608

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