TOKYO, JAPAN, March 22, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Electric Vehicle Supply Equipment Market By Type Of Charging (Level-1, Level-2, and Level-3), By Type Of Charging Station (Inductive, Super, and Normal), By Type Of Setup (Portable and Fixed), By Implementation (Commercial and Residential), and By Region-Global and Regional Market Overview, Market Insights, Holistic Analysis, Historical Data, and Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global Electric Vehicle Supply Equipment (EVSE) Market size & share was valued at approximately USD 32.5 billion in 2021 and is projected to reach a value of around USD 210 billion by 2028, at a compound annual growth rate (CAGR) of about 33.2% during the forecast period 2022 to 2028.”
What is Electric Vehicle Supply Equipment (EVSE)? How big is the Electric Vehicle Supply Equipment (EVSE) Market?
EVSE Market Overview:
An electric vehicle supply equipment (EVSE) is also referred to as a charging station for electric vehicles or EV charging stations, EV charging systems, electric charging points, or charging points. The devices and protocols used to generate them are referred to as EVSE; they increase safety by allowing a two-way connection between the electric vehicle and the charging system. An EVSE's primary role is to provide electric energy for charging electric automobiles. These stations are situated in parking lots and supplied by electric utility providers, as well as by some private enterprises in retail shopping malls. These stations are outfitted with a multitude of connectors to accommodate any sort of EV.
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 224+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Electric Vehicle Supply Equipment (EVSE) Market: Growth Factors
- Initiatives by the government to build charging infrastructure for electric vehicles (EVs)
A growing emphasis on the development of low-emission automobiles is predicted to increase electric vehicle acceptance, consequently increasing equipment adoption. Market development is likely to be aided by zero or low registration costs, road tax, purchase tax, and import tax exemptions. Governments offer advantageous subsidies and policies to encourage the use of electric vehicle supply equipment. Furthermore, growing fuel prices encourage users to purchase electric vehicles. These reasons may promote the growth of the electric vehicle supply equipment market.
- Increasing demand for fuel-efficient and lower-emission automobiles
However, the high cost of level 3 fast chargers and ultrafast chargers connected to electric vehicle charging equipment is a significant factor threatening market growth. The initial cost of a level-3 charger, on the other hand, can be fairly significant. This works as a deterrent for those who desire to switch to EVs because charging for an extended period of time may interfere with everyone's already stressful lifestyle.
Restraints
- High cost of installation may limit the market’s growth
The expense of building charging infrastructure for electric vehicles is relatively significant. High costs and a lack of charging infrastructure are important impediments to the expansion of the electric car charging infrastructure market. Charging electric vehicles necessitates a permanent location as well as a person to manage the charging network and charging points. This expense becomes the deciding factor, rendering charging station financing untenable. Furthermore, numerous governments have imposed limitations and per-unit charges on electric vehicle drivers, complicating the operations of EV charging point owners. This factor may stifle the expansion of the global electric vehicle supply equipment market.
Opportunities
- Efforts by the government to improve access to charging stations are expected to result in significant market growth
The growing number of charging stations around the country stimulates the electric vehicle market because charging stations are now available everywhere, allowing electric vehicles to be used for longer trips. Many governments are pushing for electric vehicles since they are both cost-effective and environmentally friendly. As a result, there will be plenty of exciting opportunities in the electric vehicle supply equipment market in the near future.
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Competitive Landscape
Some of the main competitors dominating the global electric vehicle supply equipment market are;
- Delta Electronics Inc
- Schneider Electric
- BP Chargemaster
- Tesla
- Chargepoint Holdings Inc
- Leviton Manufacturing Co. Inc.
- Webasto Group
- Eaton Corporation Plc
- Abb Ltd
- Siemens AG
Key questions answered in this report:
- What is the market size and growth rate forecast for Electric Vehicle Supply Equipment (EVSE) Industry?
- What are the main driving factors propelling the Electric Vehicle Supply Equipment (EVSE) Market forward?
- What are the leading companies in the Electric Vehicle Supply Equipment (EVSE) Industry?
- What segments does the Electric Vehicle Supply Equipment (EVSE) Market cover?
- How can I receive a free copy of the Electric Vehicle Supply Equipment (EVSE) Market sample report and company profiles?
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 32.5 Billion |
| Projected Market Size in 2028 | USD 210 Billion |
| CAGR Growth Rate | 33.2% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Delta Electronics, Inc, Schneider Electric, BP Chargemaster, Tesla, Chargepoint Holdings, Inc, Leviton Manufacturing Co., Inc., Webasto Group, Eaton Corporation Plc, Abb Ltd, Siemens AG., and Others |
| Key Segment | By Type of Charging, By Type of Charging Station, By Type of Setup, By Implementation, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
EVSE Market: Segmentation Analysis
The global electric vehicle supply equipment market is segregated on the basis of type of charging, type of charging station, type of setup, implementation, and region.
By type of charging, the market is divided into level-1, level-2, and level-3. Among these, the level-2 type of charging segment holds the major share in the global EVSE market and will record robust gains in the future. By type of charging station, the market is divided into inductive, super, and normal. Normal charging type holds a major share in the global EVSE market however, the inductive charging segment is expected to be the fastest-growing market in the coming years.
By type of setup, the market is classified into portable and fixed. The fixed charger segment is projected to be the fastest-growing market during the forecast period. By implementation, the market is segmented into commercial and residential. The commercial segment is estimated to be the fastest-growing market during the forecast period.
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Regional Dominance:
- Asia Pacific region is expected to dominate the global market during the forecast period
Asia Pacific region has the biggest share and is predicted to grow at the fastest CAGR during the projection period. The increasing focus by various agencies on encouraging the use of electric vehicles and providing charging infrastructure has motivated a number of start-ups and major global businesses to work with government agencies to develop unique charging solutions. The European market is predicted to grow rapidly over the forecast period. Growing public-private partnerships (PPP) initiatives for EVSE road extensions are anticipated to augment the European market.
Recent Development:
- August 2021: Ez4EV Private Limited is India-based battery storage and charger technology business that has introduced the EzUrja on-demand mobile charging solution for electric vehicles. This solution is handled as an IoT device and employs a novel electric car 'charging-on-demand' method, allowing for distant condition monitoring and operation organization.
- March 2021: Shell revealed plans to expand its current 60,000 EV charging station network to around 500,000 charging stations by 2050.
Browse the full “Electric Vehicle Supply Equipment Market -Global and Regional Market Overview, Market Insights, Holistic Analysis, Historical Data, and Forecast 2022–2028” report at https://www.fnfresearch.com/electric-vehicle-supply-equipment-market
The global electric vehicle supply equipment market is segmented as follows:
By Type of Charging
- Level-1
- Level-2
- Level-3
By Type of Charging Station
- Inductive
- Super
- Norma
By Type of Setup
- Portable
- Fixed
By Implementation
- Commercial
- Residential
Key Insights from Primary Research:
- The Electric Vehicle Supply Equipment (EVSE) market is predicted to grow at a CAGR of roughly 33.2% annually, according to the information supplied by our primary respondents.
- The Electric Vehicle Supply Equipment (EVSE) market was estimated to be worth around USD 32.5 billion in 2021and is set to grow USD 210 billion by 2028, according to our primary research.
- By type of charging station, the Normal charging type holds a major share in the global EVSE market.
- By type of setup, the fixed charger segment is projected to be the fastest-growing segment during the forecast period.
- On the basis of region, the Asia Pacific holds the highest market share and is predicted to grow at the quickest CAGR over the forecast period.
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