PUBLISHER: Allied Market Research | PRODUCT CODE: 1239574
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239574
One of the biggest challenges to the widespread adoption of electric vehicles is their limited range. Consumers are concerned about running out of battery power on long trips with no charging stations available. To address this problem, charging stations have been installed in cities and some remote areas. However, the number of these stations cannot support a large number of electric vehicles. Moreover, it is not economical to install additional charging stations in remote areas.
The lack of EV charging stations results in increased range anxiety among consumers. As a result, more individuals are beginning to purchase portable electric vehicle chargers to make sure that the vehicle is completely charged. There is an increase in demand for portable electric vehicle chargers as they are lightweight and completely portable. Portable electric chargers have become a crucial part of onboard fleet equipment that many garages and dealers are adopting in response to the increased popularity of electric vehicles.
Electric vehicles use portable chargers to provide constant power to the vehicles at any location in times of need. Moreover, there is an increase in the development of portable electric vehicle chargers for passenger vehicles to reduce mileage and range anxiety. For instance, in November 2021, the UK startup ZipCharge introduced a portable electric vehicle charger to power electric passenger vehicles and reduce carbon emissions generated by gasoline vehicles. The charger can charge an electric vehicle at a capacity of 7.2 kW.
There is an increase in concern over a smaller number of charging points available for light commercial electric vehicles. Therefore, portable chargers are increasingly being used to ease the drivers' fears of charge point density. Moreover, portable chargers are being designed as a tool for small fleets and other commercial users to launch a transition to electric vehicles. For instance, in July 2022, Lightning eMotors unveiled its second-generation mobile charger for commercial and consumer electric vehicles.
The portable EV charger market is driven by factors such as rise in sales of electric vehicle, limited electric vehicle charging infrastructure, lack of standardization of EV charging, and increase in demand for convenience and reduction of range anxiety. However, high cost of portable EV chargers restricts the market growth. Moreover, development of wireless, bi-directional chargers, fast chargers, emergence of mobile charging as a service, and growing trend of shared mobility create lucrative growth opportunities for the market.
The portable electric vehicle charger market is segmented into type, application, and region. By type, the market is bifurcated into AC and DC. Depending on application, it is segregated into passenger cars and commercial vehicles. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA
Prominent players profiled in the report include JTM Power Limited, Evteq Mobility Private Limited, Heliox Energy, Guangzhou Electway Technology Co., Ltd, Blink Charging Co., Power Sonic Corporation, Shenzhen SETEC Power Co., Ltd., ZipCharge Limited, SparkCharge, and FreeWire Technologies, Inc.