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Market Research Report
Product code
910982
Global Electric Vehicle Supply Equipment Market 2019-2025 |
Global Electric Vehicle Supply Equipment Market 2019-2025 |
Published: July 26, 2019
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
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Global Electric Vehicle Supply Equipment Market Size, Share & Trends Analysis Report by Charger Type (Level-1, Level-2, and Level-3), By Vehicle Type (Two-Wheelers, Passenger Cars, and Commercial Vehicles), By Station Type (Stationary Charging Station and Portable Charging Facilities)
The electric vehicle supply equipment is a device, or an assembly manufactured for the managing and delivering electrical energy (current) between an electric vehicle and the power source safely. Significant market growth will be observed during the forecast period in the electric vehicle supply equipment market. The market is rising due to the considerable rise in the electric vehicle market globally. Some of the drivers of the electric vehicle supply equipment market are large investment by the automotive manufacturers in the electric vehicle and their infrastructure technology. Favorable government policies toward electric vehicles due to rising global warming is also expected to be a prominent factor for the adoption of electric vehicles. Lack of standardization of charging infrastructure globally is one of the major restraints in the growth of the market.
The global electric vehicle supply equipment market is segmented on the basis of charger type, vehicle type, and charging station type. By charger type, the market is segmented into level 1, 2 and 3. The global market is further classified based on geography including North America, Europe, Asia-Pacific and Rest of the World. As per the International Energy Agency, in 2018 the estimated total number of charging point globally was 5.2 million which was 44% high year-on-year basis. Asia-Pacific is expected to be a major contributor to the market. It is due to the contribution of economies such as China, Japan, India, and South Korea. Major countries in the market are France, Germany, the Netherlands, Norway, and Sweden. In North America, the US, as well as Canada both, will have a significant growth in the market.
The major players that contribute to the growth of the global electric vehicle supply equipment market ABB Inc., Tesla Inc., Bosch Automotive Service Solutions Inc., ChargePoint, Inc., EFACEC Group, Mitsubishi Electric Corp., POD Point Ltd., Schneider Electric SE, Shell Group, Siemens AG, Yazaki Corp. and so on. These companies are significantly contributing to the market growth. The companies are adopting various strategies such as product launch, merger & acquisitions, and various others to stay competitive in the electric vehicle supply equipment market. For instance, in June 2018, BP PLC acquired Chargepoint, the UK largest electric vehicle charger company. The acquisition cost $170 million and will acquire more than 6,500 charger points.
The market study of the global electric vehicle supply equipment market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
The report is intended for government and private companies, electric vehicle manufacturer, IC engine manufacturer, oil companies for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
4.1 Motivators
4.2 Restraints
4.3 Opportunities