Electric Car Charger Market Anticipated to Reach $44.80 billion By 2030, at 35.3% CAGR | Latest Trends and Market Share

Electric Car Charger Market Size, Share, Growth, Trend, Global Industry Overview and Regional Analysis, Forecast 2023 - 2030 AUSTIN, TEXAS, UNITED STATES, January 24, 2024 /EINPresswire.com/ -- The Electric Car Charger Market has experienced significant growth in recent years, driven by the increasing adoption of electric vehicles (EVs) and a growing awareness of the need to reduce carbon emissions. As more people seek sustainable transportation options, the demand for electric cars has surged.

The SNS Insider report indicates that the Electric Car Charger Market was valued at USD 3.99 billion in 2022, and it is projected to achieve a market size of USD 44.80 billion by 2030, with a compound annual growth rate (CAGR) of 35.3 % expected over the forecast period from 2023 to 2030.

Electric Car Charger Market Report Scope –

Electric Car Charger Market as people look for ways to reduce their carbon footprint and lower transport costs, the popularity of electrical cars is increasing. The availability of charging infrastructure is, however, one of the main obstacles to the adoption of electric vehicles. The deployment of a network of charging stations connected to the centralized system could help smart cities overcome this problem, making it easier for drivers to locate and use them. Growth may also be supported by smart city infrastructure.

OPPORTUNITY:
• EV battery costs are being reduced
• Demand for cutting-edge, sustainable transportation

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Key Players Included in this reports are:

Leviton Manufacturing Co. Inc., ABB Ltd., Siemens AG, Schneider Electric Corp, AeroVironment Inc., Eaton, Evatran LLC, Tesla Motors Inc., Delphi Automotive Plc., Bosch Automotive Service Solutions Inc., Elektromotive Ltd., Hubbell Device-Kellems, Legrand, TurboDock, GE, Chargepoint, Blink and other players listed in the final report.

Market Growth Factors –

The Electric Car Charger Market slow chargers are rated at a 3kW-6kW power output range. In India, they're the easiest charger to get. These The charging devices take about 8 hours to charge an EV. They're best suited for two wheelers with 2W electric motors and three wheelers with 3W engines. In In India, the Bharat AC-001 and Bharat DC-001 are among the most frequently used slower chargers to date. Fast chargers, Type 2 AC. Also, with the help of an adapter which will require additional investment, you can be charged up to 2W and 3W EVs.

Segmentation Analysis –

The fast charger segment accounted for over 72 % of total revenue in 2022, and was at the forefront of this market. In the forecast period, this segment is also expected to grow at a high rate of compound annual growth. This growth is the result of in order to accelerate the deployment of Public Charging Infrastructure, increasing initiatives by various Governments. A number of organizations have implemented Level 3 DC fast charger or level 2 AC quick charger stations, which can be fully used charge an electric vehicle within 30 minutes to 4 hours.

In 2022, the other segment dominated the market, accounting for more than 65.0% of worldwide revenue. Connectors such as GBT, Mennekes, J1772 and others are part of the other segment. The high adoption of GBT connectors in China can be attributed to the dominance of this segment. GBT connector, which is used by all EV chargers, is the official EV charger standard in China. The largest number of electric vehicles sold in China, followed by the largest number of electric vehicles charging stations.

Electric Car Charger Market Segmentation as follows:

By Type
• Slow AC
• Fast AC
• Fast DC

By Vehicle Type
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)

By Charging Infrastructure Type
• CCS
• CHADEMO
• Normal Charge
• Tesla Super Charger
• Type 2 (IEC 621196)

By Application
• Home
• Office
• Commercial

Key Regions Included:
• North America
• Europe
• Asia-Pacific
• The Middle East & Africa
• Latin America

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Key Regional Development –

In terms of global revenue, the Asia Pacific segment dominated the market and accounted for more than 67 %. 2022. Countries such as China, Japan, and South Korea are the hub of electric vehicle are heavily investing in the development of charging infrastructure. For example, the Chinese government announced in January 2022 that it intends to invest in EV infrastructure with a view to meeting its target of supporting 20 million electric vehicles. Road, by 2025. In addition, an investment of around USD 180.3 million has been announced by South Korea for the expansion of EV charging. infrastructure across the nation as its endeavor to promote eco-friendly vehicles in the transportation sector. Moreover, Japan's electric charging station surpassed the number of petrol stations with more than 40,000 charging outlets in 2020.

Key Takeaway’s–

The way in which electric vehicle owners are using and benefiting from the applications of EV charging software and hardware is likely to be changed as a result of developments in technology. Technologies such as the Smart Car API and charging networks precisely determine an electric vehicle's charge time even before the car driver plugs the car into a station. Additionally, green energy is expected to play a significant role in both public and residential electric vehicle charging space.

Recent Developments -

• At CES 2023, the world's biggest technology event that took place at Las Vegas from January 23, ABB E-mobility presented a groundbreaking solution to charge your home using Terra Mobility. Vegas. By the end of 2023, it will be available for purchase. Terra Home allows users to optimize their renewable energy use through its unique design. usage, ultimately reducing their carbon impact.
• ABB entered into a strategic partnership with Tallarna Ltd. in November 2022 to widen its energy management technology offering for use by the public. The solution Leveraging Al powered Data Analytics to facilitate the implementation of decarbonization projects in large real estate portfolios and energy sectors infrastructure. The platform is a one stop shop for customers, presenting energy optimization options, performance insurance and third-party services financing options.

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 – 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐨𝐢𝐧𝐭𝐬

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World

5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
……

13. Company Profile
13.1 Leviton Manufacturing Co. Inc
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 ABB Ltd.
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Siemens AG
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Schneider Electric Corp
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 AeroVironment Inc.
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Eaton
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Evatran LLC
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
Continued….

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