Electric Vehicle (EV) Charging Station Market Forecast till 2025: How Hot Will It Be

Overview

The electric vehicle (EV) charging station market will witness a healthy growth from 2017 to 2025, a research report suggests. Growing at a CAGR of 41.79%, the market is projected to reach a higher growth level by 2025. Government funding for developing charging stations is expected to support the market growth along with the overall cost of charging infrastructure. As predicted by analysts, slow production will negatively affect the market’s performance from 2017 to 2025. During the forecast period, the market will be supported by the planning and development of charging stations and increasing numbers of electric vehicles on the road.

The lack of production on the other hand will challenge electric recharging point sector based organizations functioning in the global electric vehicle (EV) charging station market. Analysts have split the market into connector type, installation type, vehicle type, and charging station segments based on products and services. Electric recharging point based companies have been profiled. Slow production growth of the market is set to affect the global market during the forecast period 2017 to 2025. The report also provides the market’s performance forecasts till 2025. Analysts have studied the strategy of electric recharging point segment based organizations to help new entrants and established businesses. The electric recharging point sector itself is supported by collaboration with the oil and gas industry as well as subsidies, rebates, and tax exemptions. During the forecast period 2017 to 2025, the electric vehicle (EV) charging station market is set to witness a health growth across connector type, installation type, vehicle type, and charging station segments as well as regional markets.

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Market Segmentation

The electric recharging point sector has seen growth across connector type, installation type, vehicle type, and charging station segments owing to government cost-cutting steps and an increase in the worldwide sales. To study the market, analysts have further segmented connector type, installation type, vehicle type, and charging station into DC charging station, AC charging station, and inductive charging station on the basis of charging station. The market is further segmented into connector type sub segment which is split into Chademo, combined charging system, and others. Additionally, the electric vehicle (EV) charging station market on the basis of installation type is segmented into residential and commercial. The market is further segmented into vehicle type sub segment which is split into Battery Electric Vehicle (BEV) and Plug–In Hybrid Vehicle (PHEV).

The segmental analysis presented in the report provides electric recharging point field based organizations insights into key growth factors such as production of electric vehicles as well as challenges such as high cost of products and services the market will face from 2017 to 2025. Government cost-cutting steps and the growing stock of electric vehicles are some of the key factors having an influence on electric recharging point industry based companies, suggest analysts as per the electric vehicle (EV) charging station market report. But the report also identifies lack of infrastructure and the slow demand across different regional markets as major threats companies in electric recharging point will face till 2025. 

Regional Overview

Electric recharging point market based companies in the electric vehicle (EV) charging station market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The strict government rules will be a key growth driver for regional markets. However, electric vehicles having high cost will turn out to be a threat. For the forecast period 2017 to 2025 each of these regional markets are studied in the report.

Starting from North America, the regional market and electric recharging point vertical based companies are spread across the United States, Canada, and Mexico. Lack of easy to buy options will turn out to be a major challenge from 2017 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the presence of effective communication as well as fast and efficient transport facilities, suggests the report. Similarly, the electric recharging point sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the electric vehicle (EV) charging station market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2025.

Competitive Landscape

The global electric vehicle (EV) charging station market research report brings a comprehensive study of connector type, installation type, vehicle type, and charging station market segments, regional analysis, and electric recharging point vertical based company details of key players. As the forecast period 2017 to 2025 will bring new opportunities for the market owing to rapid urbanization and technological developments, the market is set to grow at a compound annual growth rate of 41.79% and is predicted to reach a higher growth level by 2025. With SWOT analysis of electric recharging point sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the growing penetration of substitutes and the increasing demand for other non-electric solutions, companies in the electric recharging point sector can change the way business is done.

Industry News: https://www.globenewswire.com/news-release/2021/05/20/2233524/0/en/Electric-Vehicle-Charging-Station-Market-to-Exhibit-41-79-CAGR-by-2027-Market-Research-Future-MRFR.html

Xos, Inc., a leading maker of fully electric Class 5 to Class 8 commercial vehicles, and NextGen Acquisition Corp., announced that they have reached a final corporate combination deal, resulting in Xos becoming a publicly traded company. The merged firm is scheduled to trade under the ticker symbol "XOS" on the Nasdaq Stock Market. Xos developed its vehicles to address the needs of last-mile, on-highway, and vocational vehicles, as well as their longer life cycles. Xos says it is in a strong position to profit from the electrification of the $100 billion global addressable market.