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. Todayâs 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.
GLOBAL ELECTRIC VEHICAL CHARGING SYSTEM MARKET SEGMENTATION
By Product type
â¢ Home charging systems
â¢ Commercial charging systems
By Mode of charging
â¢ Plug-in charging system
â¢ Wireless charging system
By Charging voltage level
â¢ Level 1 (0 Volt-120 Volt, 15 Amps)
â¢ Level 2 (121 volts - 240 volts, 30 Amps)
â¢ Level 3 (241 volts & above, 100 Amps)
â¢ North America
â¢ Rest of World