Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Electric Vehicle Infrastructure market is growing owing to the adoption of electric vehicles and depletion of fossil fuel
The global EV infrastructure market has the potential to grow with USD 111.25 billion with fueling CAGR in the forecast period from 2020-2027. Factors driving the market demand for EV infrastructure are the significant demand for an electric vehicle in the market and improve the transportation facilities.
With emerging electric car popularity, electric car charging stations will become the focus of the development of the automotive industry and the energy industry. Electric vehicle charging stations can better solve the problem of fast charging and save energy and reduce emissions. As automakers invest in electrified power systems and charging infrastructure, opportunities for connector suppliers continue to expand.
Moreover, the rapid charging of electric vehicles requires instantaneous and convincing power. The conventional power grid cannot meet, and an exclusive charging network built. It involves the transformation of the entire national power grid. The significant change in the national power grid is not trivial and costly. The solution that can better solve the problem of fast charging is to replace the power station-to replace the long charging process by replacing the battery of the car.
Therefore, the advantage of this method is that it can be put on the road after the user replaces the battery, which is faster than refueling. With this method and auxiliary means such as parking lot charging piles, it believed that the popularity of electric vehicles is at hand.
Charger Type overview in the Global EV infrastructure Market
Based on the Charger type, the global EV infrastructure market categorized into Slow Charger, Fast Charger. The fast charger segment accounted for the largest share in the global EV infrastructure market. Despite the rapid development of the new energy vehicle market, the lack of public charging piles, low range of power batteries and long charging time are still the key factors restricting the development of new energy vehicles. Thus, the easiest way to improve the cruising range of electric cars is to increase the capacity of the power battery and increase the voltage of the power battery of the vehicle to 1000V, and the way to implement fast charger.
Connector overview in the Global EV infrastructure Market
Based on the connector, the global EV infrastructure market classified into CHAdeMO, CCS, Others. The CCS segment is estimated to account for the largest share of the EV infrastructure market in the forecast period. The advantage of this charging interface is that it integrates regular charging and fast charging into a plug/socket, can use single-phase, three-phase AC and DC power, and has become a mass collector of mainstream charging piles.
Application overview in the Global EV infrastructure Market
Based on the application, the global EV infrastructure market bifurcated into Commercial, Residential. The commercial segment has dominated the largest share in the global EV infrastructure market. The emerging demand for manufacturing electric vehicles is bolstering the growth of commercial vehicles owing to the depletion of fossil fuel and increasing pollution levels. The electric cars are creating their demand for majorly in the commercial sector. Thus, there is a massive requirement for EV infrastructure.
Region overview in the Global EV infrastructure Market
Based on geography, the global EV infrastructure market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific region is dominating the market share of the global EV infrastructure market. Rising development in the economy, adoption of technology, various investments in manufacturing electric vehicles are fueling the Asia Pacific region market demand.
Global EV infrastructure Market: Competitive Landscape
Companies such as ABB Ltd., AeroVironment Inc., ABB, BP Chargemaster, ChargePoint, Inc., ClipperCreek, Eaton, GENERAL ELECTRIC, Leviton Manufacturing Co., Inc., SemaConnect, Inc., Schneider Electric, Siemens, Tesla, Inc., Webasto, and others are key players in the global EV infrastructure market.