New York, United States , June 12, 2023 (GLOBE NEWSWIRE) -- The Global Heavy-Duty Electric Vehicle Charging Infrastructure Market Size is to grow from USD 2.57 Billion in 2022 to USD 45.11 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 33.18% during the projected period.
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Leading automakers such as Volvo, Scania, and Tesla are now rapidly developing battery electric vehicle (BEV) trucks for long-distance transportation. In addition to increasing efficiency, several of these businesses are also accepting consumer orders. The heavy-duty electric vehicle charging infrastructure is a complete system that transmits electricity from the power grid and distributes it to charge electric vehicles such as electric buses and trucks. Furthermore, the number of electric vehicles (EVs) is increasing, and new types of EVs are routinely entering the market. EVs are expected to account for a major share of the overall transportation sector in the future years. The demand for charging infrastructure in the automobile sector is increasing as the market for electric vehicles grows, which is one of the primary factors driving the rapid rise of the worldwide heavy-duty electric vehicle charging infrastructure market. In addition, a global collaborative strategy among corporations to help finance and create heavy-load EV charging infrastructure is gaining popularity.
Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on "Global Heavy-Duty Electric Vehicle Charging Infrastructure Market Size, Share, and COVID-19 Impact Analysis, By Charger Type (DC Charger, AC Charger), By Charging Method (Fast Charging, Slow Charging), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The DC charger segment is dominating the market with the largest revenue share over the forecast period.
On the basis of charger type, the global heavy-duty electric vehicle charging infrastructure market is segmented into the DC charger and AC charger. Among these, the DC charger segment is dominating the market with the largest revenue share of 43.6% over the forecast period. The rising usage of fast charging for heavy-duty electric cars is predicted to drive up demand for direct current (DC) chargers. Combined Charging System (CCS), CHAdeMO, and Tesla Superchargers are also DC charger connector types.
The fast charging segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of charging method, the global heavy-duty electric vehicle charging infrastructure market is segmented into fast charging and slow charging. Among these, the fast charging segment is dominating the market with the largest revenue share of 57.2% over the forecast period. When compared to the slow charging method's extended charging times, the rapid charging method allows heavy-duty vehicle operators to replenish the battery in significantly less time. The market for fast charging techniques is predicted to expand dramatically as global demand for heavy-duty electric vehicles develops.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 41.7% market share over the forecast period. The Asia Pacific market for heavy-duty EV charging infrastructure will develop rapidly as customer demand for electric buses rises and governments in the region, including China, Japan, and India, work to promote the expansion of heavy-duty electric vehicles. The market for electric vehicles in this region is expanding due to increased demand for charging infrastructure and more collaboration among local automakers.
North America is expected to grow the fastest during the forecast period.
On the other hand, North America is predicted to expand the fastest during the forecast period. The region's charging infrastructure is critical to the majority of heavy-duty electric vehicle manufacturers, including Tesla Inc., Volkswagen AG, and Volvo Group. During the forecast period, the Europe market is expected to rise at a significant CAGR. The region's manufacturing and downstream firms' increased demand for electric buses and trucks is driving the growing demand for charging stations.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Vendors in The Global Heavy-Duty Electric Vehicle Charging Infrastructure Market include ABB, Siemens, Kempower OY, Tesla, Chargepoint, Inc., BP, Daimler Trucks, Proterra, Schunk Group, EFACEC, Kehua Hengsheng Co., Ltd., Shijiazhuang Tonhe Electronics Technologies Co., Ltd., State Grid Corporation of China, TGOOD Global Ltd, Shell, Webasto, Blink Charging, and among others.
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Recent Developments
On April 2023, Greenlane, a joint venture between Daimler Truck North America, NextEra Energy Resources, and BlackRock Alternatives, aims to build a high-performance, zero-emission public charging, and hydrogen fueling network for heavy-duty battery-electric and hydrogen fuel cell vehicles across the United States. The business will focus on infrastructure design, development, installation, and operation, and renderings of the site layout were released as a crucial step in the project's progress.
In March 2023, San Diego Gas & Electric (SDG&E), in partnership with municipal and state officials, has announced the installation of four public direct current (DC) fast chargers at a busy truck stop just north of the Otay Mesa Port of Entry. This is the first of its sort in California, catering to medium and heavy-duty trucks. The 250-kilowatt (kW) chargers can charge a passenger car at up to 250 kilometers per hour. For medium-duty box trucks, the chargers can charge from 20% to 80% in about an hour and fully charge from empty to 100% in about two hours.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Heavy-Duty Electric Vehicle Charging Infrastructure Market based on the below-mentioned segments:
Heavy-Duty Electric Vehicle Charging Infrastructure Market, Charger Type Analysis
- DC Charger
- AC Charger
Heavy-Duty Electric Vehicle Charging Infrastructure Market, Charging Method Analysis
- Fast Charging
- Slow Charging
Heavy-Duty Electric Vehicle Charging Infrastructure Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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