What is Electric Car Chargers Market?
Electric car chargers are used to charge an electric car with the help of a battery and electrical source that supplies energy that is used for charging. They also help decrease the carbon footprints released in the atmosphere, which contains toxic gas particles. There are two types of chargers used to charge an electric car AC charger and DC fast charger. High Adoption Of electrical car and energy efficient automobiles will help to boost the global electrical car charger market. Attraction towards luxury electrical cars will create an opportunity in the electric car charger market.
The market study is being classified by Type (AC Charger and DC Charger) and major geographies with country level break-up. According to AMA, the Global Electric Car Chargers market is expected to see growth rate of 35.76%
ABB Ltd. (Switzerland), AeroVironment (United States), Robert Bosch GmbH (Germany), Siemens AG (Germany), Delphi Automotive (Ireland), ChargePoint (United States), Schneider Electric (France), Aerovironment Inc. (United States), Silicon Laboratories (United States) and Tesla (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Chargemaster PLC (United Kingdom), Efacec (Portugal), Schaffner Holdings AG (Switzerland), EVgo (United States) and POD Point (United Kingdom).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Electric Car Chargers market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Electric Car Chargers market by Type, Application and Region.
On the basis of geography, the market of Electric Car Chargers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Electrical Car
- Government Initiatives for Development of Electric Car Charging Infrastructure
- High Demand for Wireless Charging Of Electrical Car
- Growing Concern towards Environmental Pollution
- High Price of Electric Car
- Lack of Standardization of Electrical Car Charging
- Rising Demand for Luxury Electrical Car
- Growth in Disposable Income will boost the Electric Car Chargers Market
- Lack of Presence of Charger at Public Place
Market Leaders and some development strategies
On 17th December 2018, Hitachi has acquired ABB’s Power grid business. Initially investing USD 6.4 billion for an 80.1 percent stake before a complete takeover in the future. and On 7th September 2018, ABB has launched a fast-charging system for cars for the first time in India, which can power batteries of a car in flat 8 minutes to run up to 200 KM at Move Global Mobility Summit in the capital.
O 24th September 2020, ChargePoint, Inc. and Switchback Energy Acquisition Corporation a publicly traded special purpose acquisition company with a strategic focus on the energy sector, announced the signing of a definitive business combination agreement. ChargePoint expects to use transaction proceeds to expand its reach in North America and Europe, further enhance its technology portfolio and significantly scale its commercial, fleet, and residential businesses ahead of the anticipated introduction of an increasing number of new EV models and rising EV penetration.
Key Target AudienceCar Manufacturers and Suppliers, Electric Car Charging Station Designers and Manufacturers, Electric Car Charging Equipment Component Suppliers, Electric Car Charging Service Companies, Electric Car Manufacturers, Government Regularities Bodies, Government Research Organization, Private Research Organization and Others
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