Market Research Report
Asia-pacific Electric Vehicle Charging System Market Forecast 2021-2028
|Asia-pacific Electric Vehicle Charging System Market Forecast 2021-2028|
Published: April 5, 2021
Content info: 131 Pages
Delivery time: 2-3 business days
The Asia-Pacific electric vehicle charging system market is expected to record a CAGR of 44.66% over the forecasting period. The region's market growth is credited to key drivers, such as the surging population base, cheap labor, the availability of raw materials, the increased governmental support, and the rising economy.
The Asia-Pacific electric vehicle charging system market growth analysis includes the in-depth assessment of India, South Korea, Australia & New Zealand, Singapore, Japan, China, and the rest of the Asia-Pacific. As a part of the government's bid to make India an electric vehicle country over the upcoming decade, the establishment of infrastructure for an e-charging kiosk at nearly 69,000 petrol stations across the nation was announced. In 2020, the government issued an in-principle affirmation to companies, such as REIL, NTPC, and EESL, to set up 2,600 electric vehicle charging stations.
On the other hand, Singapore is anticipated to witness a boost in electric vehicle charging operators as attempts to expand green cars' charging infrastructure are being made. Furthermore, the government is also proposing to gradually eliminate internal combustion engine (ICE) vehicles by 2040. In accordance with the Singapore Green Plan, 60,000 electric vehicle charging points will be set up in private premises as well as public car parks by 2030. Therefore, these factors are anticipated to fuel the electric vehicle charging system market growth in Asia-Pacific over the forecasted period.
Some of the leading players operating in the region's market are: Tata Power, Eaton ABB Ltd, Tesla, etc.