Pune, India, Aug. 29, 2020 (GLOBE NEWSWIRE) -- Electric vehicles (EVs) are gaining momentum in the transportation industry in recent times owning to increasing demand for lightweight fuel efficient vehicles, along with the growing concern for environmental related norms and regulations. Electric vehicles (EVs) mainly use one or several motors that are powered by fuel cell, battery, solar panels, or generators installed in the vehicles for propulsions.

Many innovators from Hungry, Netherlands, and the U.S. tried the concept of battery-operated vehicles and were able to develop a concept small scale electric vehicle model in early 1800. But in 1890, William Morrison, a chemist by profession, developed an electric vehicle capable of carrying six persons. The vehicle attained a speed of 14 miles per hour.

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In future, advancement in technology, increasing battery capacity, and the use of lightweight materials in EVs are going to provide better efficiency, thereby further contributing to the development of electric vehicles across regions.

Electric vehicle charging infrastructure is broadly divided into three categories - alternate current, direct current, and wireless charging. Alternate current is also known as level 1 and level 2. Here, the in-car inverter converts alternate current into direct current and charges the battery at either level 1 or level 2. Direct current, also known as level 3 charging, converts alternate current to direct current without any inverter. Wireless charging, on the other hand, uses electromagnetic waves to charge batteries.

The global electric vehicle charging infrastructure market size is estimated to be USD 3.8 billion in 2020 and is projected to grow with a CAGR of 36.3% in terms of value from 2020 to 2028. Increasing government spending towards the development of highway and road connectivity and establishment of better charging facilities in developed economies are some of the major factors that are contributing to the growth of the electric vehicles charging infrastructure market.

Electric Vehicle Charging Infrastructure Market, by Infrastructure Provider:

Based on infrastructure provider, the electric vehicle charging infrastructure market has been segmented into charging point operator (CPO), e-mobility service provider (EMSP), and charging hubs. The charging point operator (CPO) infrastructure provider segment of the electric vehicle charging infrastructure market is anticipated to capture the largest market share among other segments in the coming years.

Electric Vehicle Charging Infrastructure Market, by Infrastructure Type:

Based on the infrastructure type, electric vehicle charging infrastructure market has been segmented into Combined Charging System (CCS), CHAdeMO, normal charging, Tesla supercharger, and TYPE-2 (IEC 62196). Among these segments, Combined Charging System (CCS) and Tesla supercharger have captures a healthy market share in the global electric vehicle charging infrastructure type segment in 2020.

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Electric Vehicle Charging Infrastructure Market, by Charging Level:

Based on the charging level, the electric vehicle charging infrastructure market has been segmented into level 1 (120 V), level 2 (208 V – 240 V), and level 3 (UPTO 600 V). Level 3 is mostly used over level 1 and level 2 due to its ability to provide high power. It also offers cost and weight saving by sharing it among several users.

Electric Vehicle Charging Infrastructure Market, by Vehicle Type:

Based on the vehicle type, electric vehicle charging infrastructure market has been segmented into electric bike, plug-in hybrid vehicle (PHEV), EV passenger cars, heavy delivery vans, and others. Among these, the plug-in hybrid vehicle is expected to register the fastest growth during the forecast period due to its rapid adoption in Asia-Pacific.

Electric Vehicle Charging Infrastructure Market, by Installation Type:

Based on the installation type, the electric vehicle charging infrastructure market has been segmented into portable charger and fixed charger. Portable charger is expected to grow at a higher rate due to the convenience to charge anywhere and is anticipated to remain so till the forecast period.

Electric Vehicle Charging Infrastructure Market, by Application:

Based on application, the electric vehicle charging infrastructure market has been segmented into public and private. The public electric vehicle charging infrastructure is expected to grow at a faster CAGR due to the increasing adoption of electrical vehicles by middle-income population.

Electric Vehicle Charging Infrastructure Market, by Region:

Based on region, the global electric vehicle charging infrastructure market segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific is expected to grow at the fastest rate. Increasing demand for electric vehicles and rising investment from private companies for establishing infrastructure are going to drive the market in the region during the forecast period.

Some Major Findings of the Global Electric Vehicle Charging Infrastructure Market Report Include:

  • Major global market trend & forecasts analysis along with a country specific market analysis for up to 25 countries
  • In-depth global electric vehicle charging infrastructure market analysis by infrastructure provider, charging infrastructure type, charging level, vehicle type, application, and regions with the analysis of trend-based insights and factors.
  • Major players operating in global electric vehicle charging infrastructure market include Allego, Alfen, ABB Ltd., BP Chargemaster, Blink Charging Co. Clippercreek, Inc., Chargepoint, Inc., Tesla Inc., EVGO Services LLC, Semaconnect Network, Greenlots, and EV Connect, Electrify America LLC, Opconnect, Inc., Webasto Group, Engie SA, Schneider Electric SE, Siemens AG, Efacec Power Solutions, Leviton, Tgood, and Others.
  • Competitive benchmarking, product offering details, growth strategies adopted by the leading market players along with their major investments in the last five years
  • Micro, Macro analysis and factor analysis across regions, along with the drivers, restraints, opportunities, challenges, guidelines, and regulations that are prevailing in the global electric vehicle charging infrastructure market.
  • In depth Porter’s and value chain analysis of the market.

Browse key industry insights spread across 166 pages with 92 market data tables and 45 figures & charts from the report, “Electric Vehicles Charging Infrastructure Market, By Infrastructure Provider (Charging Point Operator (CPO), E-mobility service provider (EMSP) and Charging Hubs), By Infrastructure Type [(Combined Charging System (CCS), CHAdeMO, Normal charging, Tesla supercharger and TYPE-2 (IEC 62196)], By Charging Level (Level 1 (120 V), Level 2 (208 V – 240 V), Level 3 (UPTO 600 V) ], By Vehicle Type [ (Electric Bike, Plug-in Hybrid Vehicle (PHEV), EV Passenger Cars, Heavy Delivery Vans, Others) ], By Installation Type (Portable Charger and Fixed Charger), By Application (Public and Private), By Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) – Market Size & Forecasting To 2028” in depth analysis along with the table of contents (ToC).

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