Market Research Report
Global Electric Vehicle Charging System Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||998117|
|Published||Content info||185 Pages
Delivery time: 2-3 business days
|Global Electric Vehicle Charging System Market Forecast 2021-2028|
|Published: April 5, 2021||Content info: 185 Pages||
The global electric vehicle charging system market is forecasted to progress with a 46.66% CAGR over the estimated period. The market's growth is ascribed to chief factors like the thriving electric vehicle industry, technological advancements, governmental push for the electric vehicle market, and the increasing concerns associated with environmental pollution.
The adoption of electric vehicles has observed extensive growth globally. An electric vehicle charging system is a setup that powers electric vehicles. Numerous enterprises and start-ups have entered this industry due to the growing demand for electric vehicles. The sector also witnesses several technological developments linked to faster charging time and more extended range.
Transport is an essential foundation for diverse private and financial endeavors and is a vital part of the economy. However, transport is highly energy-consuming, resulting in significant ecological issues. Global greenhouse gas emissions are also a substantial risk to the environment. The atmospheric scenario across the world continues to play an essential role in fueling the need for and sale of electric vehicles, thereby augmenting the market for electric vehicle charging systems, as well.
The global electric vehicle charging system market growth is analyzed through the assessment of Europe, North America, the Asia-Pacific, and the rest of the world. The Asia-Pacific is set to hold the highest market share by 2028, owing to factors such as rapid urbanization, cheap labor, governmental support, a thriving economy, and the availability of raw materials.
The intensity of industry rivalry within the electric vehicle charging system is expected to be moderate over the forecast period, with the rising opportunities and government interest fueling the global demand. Moreover, leading players are investing in the market to augment their presence.
Some of the distinguished players operating in the market are: ChargePoint, EVBox, EVgo, ABB Ltd, etc.