Electric Vehicle Charging System Market, also called as EV charging station or Electric vehicle supply equipment, is an element in an infrastructure that supplies electric energy in order to recharge the electric vehicles such as electric cars and scooters. The expansion in the ownership of plug-in hybrid electric vehicles and battery electric vehicles has proportionally hiked up the demand for widely distributed publicly accessible charging stations, especially in the developed economies.
Electric Vehicle Charging System Market Determinants
The global electric vehicle charging systems market is displaying a positive growth as a result of significant rise in the adoption of electric vehicles in the past few years. Continuously increasing awareness and emphasized efforts conducted by various governments for environment conservation, is stimulating the growth of the electric vehicles market, which as a result is driving the growth of electric vehicle charging systems. However, safety concerns and stringent government regulations in terms of the use of electric vehicle charging systems, can act as a limiting factor for the the adoption of these systems. In addition to this, there are various alternatives available such as CNG and LPG based vehicles, which can challenge the market growth. On the other hand, growing urban population, especially in the emerging countries and continuous technological improvisations can bring future growth opportunities to the market. According to U.S. Department of Energy, EVs and PHEVs running only on electricity have zero tailpipe emissions. Today’s light-duty Evs (or PHEVs in electric mode) can exceed 100 mpge and can drive 100 miles consuming only 25-40 kWh, conserving a huge amount of fossil fuels.
Market Determinant- Impact Analysis
Electric Vehicle Charging System Market Segment Analysis
The global electric vehicle charging system market is segmented on the basis of product type, mode of charging, charging voltage level and geography. By product type, the market is segmented into home charging systems and commercial charging stations. On the basis of charging voltage level, the market is categorized as Level 1 (0 Volt-120 Volt, 15 Amps), Level 2 (121 volts - 240 volts, 30 Amps) and Level 3 (241 volts & above, 100 Amps). On the basis of mode of charging, the market is segmented into plug-in charging systems and wireless charging systems. Geographically, the market is bifurcated as North America, Europe, Asia-Pacific and Rest of World. The home charging systems are supposed to dominate the market owing to their concentrated use in the developed economies such as North America and Europe. More than 80% of the electric car charging is done at home. Geographically, Europe was the highest revenue generating region in terms of electric vehicle charging system market, followed by North America. There are nearly 16,303 electric stations and 44, 565 charging outlets alone in the U.S. Plug-in charging systems are witnessed to dominate the market throughout the forecast period as a result of high preference of plug-in charging systems at commercial charging stations.
Product launch and collaboration have emerged out as the most adopted strategies by the key market players. Schneider Electric and ChargePoint have recently partnered to Launch New EVlink™ Cloud Connected Charging Stations with Comprehensive Services. Some major players of the electric vehicle charging system market are General Electric Company, Evatran Group, Inc., Robert Bosch GmbH, Delta Electronics, Inc., Schneider Electric SE, Eaton Corporation Plc, Tesla Motors, Inc., Delphi Automotive LLP, Siemens AG and ClipperCreek, Inc.
GLOBAL ELECTRIC VEHICAL CHARGING SYSTEM MARKET SEGMENTATION
By Product type
• Home charging systems
• Commercial charging systems
By Mode of charging
• Plug-in charging system
• Wireless charging system
By Charging voltage level
• Level 1 (0 Volt-120 Volt, 15 Amps)
• Level 2 (121 volts - 240 volts, 30 Amps)
• Level 3 (241 volts & above, 100 Amps)
• North America
• Rest of World
KEY MARKET PLAYERS
• General Electric Company
• Robert Bosch GmbH
• Delta Electronics, Inc.
• Eaton Corporation Plc
• Tesla Motors, Inc.
• Delphi Automotive LLP
• Siemens AG
• ClipperCreek, Inc.
• Evatran Group, Inc.
• Schneider Electric SE