New York, US, June 13, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Heavy-Duty Electric Vehicle Charging Infrastructure Market Research Report Information by Region, Product, and Application- Forecast Till 2030”, The research studies by MRFR specify that the Heavy-Duty Electric Vehicle Charging Infrastructure Market Research Report Information by Charger Type, Region, and Charging Method - Forecast Till 2030, the market is foretold to grow considerably over the valuation timeframe from 2022 to 2030 at a strong CAGR of about 35%. The reports even share projections regarding the market's developing revenue share, which is likely to achieve a market of USD 53102.3 Million by the end of 2030.
Heavy-Duty Electric Vehicle Charging Infrastructure Market Scope:
The global industry for Heavy-Duty Electric Vehicle Charging Infrastructure has advanced enormously in recent years. The primary feature causing a rush in the performance of the Heavy-Duty Electric Vehicle Charging Infrastructure market is the fueling awareness regarding the impact of gasoline vehicles on the environment.
Market Competitive Analysis
The catalogue of the top leaders across the global Market includes players such as:
- ABB
- EFACEC
- Siemens
- Schunk Group
- Bombardier Inc.
- Chargepoint, Inc.
- Kempower OY
- Proterra
- Tesla
- Kehua Hengsheng Co., Ltd.
- Shijiazhuang Tonhe Electronics Technologies Co., Ltd.
- Among others.
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Market USP Covered
Heavy-Duty Electric Vehicle Charging Infrastructure Market Drivers
The global industry for Heavy-Duty Electric Vehicle Charging Infrastructure has advanced enormously in recent years. The primary feature causing a rush in the performance of the Heavy-Duty Electric Vehicle Charging Infrastructure market is the fueling awareness regarding the impact of gasoline vehicles on the environment.
Heavy-Duty Electric Vehicle Charging Infrastructure Market Restraints
However, some aspects may restrain the Heavy-Duty Electric Vehicle Charging Infrastructure market's execution. The main feature restraining the market's advancement is the high costs linked.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 53102.3 Million |
| CAGR during 2022-2030 | 35% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Charger Type, Charging Method |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Dynamics | Increasing awareness regarding the impact of gasoline vehicles on the environment Government initiatives for developing charging stations increase in demand for electric vehicles\r\n |
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Heavy-Duty Electric Vehicle Charging Infrastructure Market COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in Heavy-Duty Electric Vehicle Charging Infrastructure market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
Heavy-Duty Electric Vehicle Charging Infrastructure Market Segment Analysis
Based on the charger types, the D.C. charger segment is projected to ensure the leading rank across the global market over the coming years, given the rising adoption of the fast-charging method for heavy-duty electric vehicles. On the other hand, the A.C. charger segment will likely showcase the maximum growth rate over the coming years. A.C. chargers, called onboard chargers, have a lower power capacity than D.C. chargers.
Among all the charging methods, the fast-charging segment is projected to ensure the leading rank across the global market over the coming years, given the fast charging provisions for trucks, buses, and other heavy-duty vehicles. The fast-charging technique permits the drivers of heavy-duty vehicles to recharge the battery in much reduced time than the long charging hours linked to the slow-charging method. Slow-charging methods provide numerous advantages over the fast-charging method, such as low cost and convenience.
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Heavy-Duty Electric Vehicle Charging Infrastructure Market Regional Analysis
The MRFR analysis reports implying that the Asia-pacific Region is projected to obtain the leading rank across the global Heavy-Duty Electric Vehicle Charging Infrastructure industry over the assessment period. India, China, and Indonesia are the leading development contributors in the region. Further, the China Heavy-Duty Electric Vehicle Charging Infrastructure Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The organized electric vehicle industry is believed to be the main aspect causing a surge in the regional market's performance. Furthermore, the presence of top manufacturers is also likely to boost the regional market's growth over the assessment era. Moreover, factors such as the government initiatives for promoting the development of heavy-duty electric vehicles, the rising demand for electric buses, increasing collaborations between the automotive OEMs, rising demand for the development of charging infrastructure, and stringent government policies are also likely to enhance the performance of the regional market over the coming years.
The European Region held the second position across the global industry in 2019. The region has France, the Netherlands, Germany, and the U.K. as the leading development contributors. Further, the German Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The main aspect causing a surge in the performance of the regional market is the escalating demand for electric vehicles in the country. The region has Germany as the leading growth contributor. The automotive OEMs in the country are concentrating on developing charging infrastructure for supporting electric buses and trucks.
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The research documents by MRFR indicate that North America secured a substantial position across the global industry in 2019. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspects supporting regional market expansion are the rising demand for the development of charging infrastructure and stringent government policies.
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