Electric Vehicle Charger Market by Vehicle Propulsion Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV)), Charging Type (On-board Chargers, and Off-board Chargers), and End User (Residential and Commercial) Competitive Market Share & Forecast, 2020 - 2027
|ID: VPR/A&T/102||Publishing Year: June 2020||Pages: 242||Format:|
Global Electric Vehicle Charger Market was valued at $4.1 billion in 2019, and is expected to reach $ 26.2 billion by 2027, registering a CAGR of 30.66 % from 2020 to 2027.
Electric Vehicle (EV) works on electric motors or the traction motors for propulsion. These motors, which is are used in EV, requires constant supply of energy from batteries. Electric Vehicle Charger is a device which supplies electric current to battery and that is stored in it, which provides charging to electric vehicles. There are different types of batteries used in these vehicles, which are lithium ion, zinc-air, molten salt and various nickel-based designs. Charging of these vehicles can be achieved by various charging levels which are level 1, level 2, and level 3. The electric vehicle has various advantages over conventional vehicle i.e. high fuel economy, cheap maintenance, convenience of charging at home, low carbon emission, and less noise pollution.
North America, Europe, Asia-pacific, LAMEA
FASTEST GROWING MARKET
MAJOR KEY PLAYERS
AEROVIRONMENT INC., ABB LTD., CHARGEMASTER PLC, DELPHI TECHNOLOGIES, CHROMA ATE INC., ROBERT BOSCH GMBH, POD POINT LTD., SIEMENS AG, SCHAFFNER HOLDING AG., SILICON LABORATORIES, INC.
The traditional vehicle features an internal combustion engine for generating power. This engine burns the fuel and produces a carbon dioxide. The combustion engine produces numerous toxic gasses, which leads to increase pollution of the atmosphere. Top-leading countries such as the U.S., China, France and Germany have implemented stringent automotive pollution laws and regulations. Fossil fuel is a very critical factor for the running of a modern vehicle, which will be depleted in the near future. Alternative fuel sources should be developed and utilized. Which has increased demand for electric vehicles running on electric motors that vary from traditional vehicles based on internal combustion engines. Therefore, these factors will also have an impact on Electric Vehicle Charger Market. Due to unavailability of infrastructure that is required for Electric Vehicle Growth. Electric vehicles and their accessories are expensive as compared to conventional vehicle, which affects the growth of Electric Vehicle Market, which might also effect adversely on the growth of Electric Vehicle Charger Market. Automotive companies concentrate on producing advanced Electric Vehicle Systems, which would expect the lower real emissions at relatively lower costs. There are various players in market which are focusing to develop and invest into new battery technologies and wireless charging. It is forecasted that Electric Vehicle Charger Market to witness growth in future.
The Electric Vehicle Charger Market is segmented based on Propulsion Type, Charging Type, End Use and Region.
Based on Propulsion Type, it is classified into Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV) and Hybrid Electric Vehicles (HEV).
Based on Charging Type, it is divided into On-board Chargers and Off-board Chargers.
Based on End Use, it is divided into Residential and Commercial.
By Propulsion Type Insight:
The Electric Vehicle Charger Market is segmented by Propulsion Type into Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV) and Hybrid Electric Vehicles (HEV).
The segment of battery electric vehicle accounted for the largest market share of the electric vehicle in 2019. The large part of this segment can be attributed to increased government support and increased investment by the company.
By Charging Type Insight:
The Electric Vehicle Charger Market is segmented by charging type into On-board Chargers and Off-board. Chargers the segment of On-board chargers accounted for the largest market share of the electric vehicle in 2019.
By End User:
The demand for Electric Vehicle Charger is segmented into Residential and commercial dependent on the end users. The group of On-board accounted for the largest share of the overall demand for Electric Vehicle Charger in 2019. This can be due to the rising in government‘s pollution free initiatives and the increasing in prices of fossil fuel.
Major Key Players of Global Electric Vehicle Charger Market:
The Report Provides a Comprehensive Analysis of the Key Players operating in the Global Electric Vehicle Charger Market, such as AEROVIRONMENT INC., ABB LTD., CHARGEMASTER PLC, DELPHI TECHNOLOGIES, CHROMA ATE INC., ROBERT BOSCH GMBH, POD POINT LTD., SIEMENS AG, SCHAFFNER HOLDING AG., and SILICON LABORATORIES, INC. Most of the Key Players in Electric Vehicle Charger Market are focusing on business expansion to gain a higher revenue share through the adoption of strategies, such as mergers and acquisitions and new product development.
Electric Vehicle Charger Market key Segments:
By Propulsion Type
- Battery electric vehicle
- Plug-in hybrid electric vehicle
- Hybrid electric vehicle
By Charging Type
- On-board chargers
- Off-board chargers
By End Use
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA
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