Electric Vehicle Supply Equipment (EVSE) Market by Power Type (Alternating Current (AC) Power, and Direct Current (DC) Power), Product Type (Portable Charger, Electric Vehicle Kiosk, Onboard Charging Station, and Others), Charging Station Type (Normal Charging, Super Charging, and Inductive Charging), and Application (Commercial, and Residential): Global Opportunity Analysis and Industry Forecast, 2020–2030
Industry: Automotive & Transportation | Publish Date: 23-Sep-2020 | No of Pages: 415 | No. of Tables: 238 | No. of Figures: 178 | Format: PDF | Report Code : N/A
Market Definition:
The global Electric Vehicle Supply Equipment (EVSE) Market size was valued at USD 1.91 billion in 2019 and is predicted to reach USD 22.04 billion by 2030 with a CAGR of 24.9% from 2020-2030.
Electric Vehicle Supply Equipment are defined as charging equipment used to supply power to electric vehicles both privately through electric recharging points and publicly through charging stations. In order to promote the use of plug-in hybrid electric vehicles (PHEVs) and fully battery electric vehicles (BEVs), drivers and fleet owners would have to be given easy access to charging stations, commonly referred to as electric vehicle supply equipment (EVSE).
Therefore, governments, local authorities, automakers and charging infrastructure providers have been making many agreements in order to create vast networks of charging infrastructure including charging stations at public destinations and workplaces. The entire system consists of software, communication systems, electrical components, and others that improve the efficiency and safety of the vehicle.
Market Dynamics and Trends
As the sales of the PHEVs and BEVs are growing almost exponentially, the demand for the wide range of charging infrastructure is growing almost in parallel. The greatest demand comes from the private charging stations, which charge vehicles faster. At present, most of the publicly available charging stations are located on the street. These are typically owned and maintained by electric utility companies. Other publicly accessible stations are located near shopping centers, and these stations are typically operated by private companies.
The demand of electric vehicles is also driven by government encouragements and economic benefits associated with it. For example, in Asia, Europe and the U.S., BEVs, which have zero pollution emissions, get tax deductions in order to boost their adoption. Also, BEV buyers receive a government subsidy to purchase an EV. Such subsidies sometimes can reach almost 20% of the overall car’s value. The increased EV adoption in turn drives the deployment of charging stations so that these vehicles can be recharged at various locations including owner’s residences, commercial areas, or highway charging stations.
However, high cost of installation and lack of standardization in charging infrastructure are hindering the growth of electric vehicle supply equipment market to some extent. On the other hand, increase in fuel prices and aggressive R&D activities by various market players to cut down the cost and increase battery capacity are expected to create lucrative opportunities in the industry players in the coming years.
Market Segmentations and Scope of the Study
The global electric vehicle supply equipment market share has been segmented on the basis power type, product type, charging station type, application and geography. On the basis of power type, the market has been segmented into alternating current power and direct current power. On the basis of product type, the market has been segmented into, portable charger, electric vehicle kiosk, onboard charging station and other products. On the basis of charging station type, the market has been segmented into normal charging, super charging and inductive charging. On the basis of application, the market has been segmented into commercial and residential. Commercial has been further sub segmented into destination charging station, highway charging station, bus charging station, fleet charging system and other charging station. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
Geographical Analysis
North America is expected to hold the major market share throughout the forecast period owing to the increasing adoption of electric and hybrid vehicle. Also, technological advancements and presence of developed infrastructure with rise in automotive sales are expected to support the growth of electric vehicle supply equipment market in this region.
However, Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the fluctuating fuel prices with rise in demand of vehicles specially in China and Japan. In addition, the increasing environmental concerns and air pollution is also expected to propel the market growth in the near future.
Competitive Landscape
Lucrative growth opportunities make the electric vehicle supply equipment industry extremely competitive. Some of the major players of the electric vehicle supply equipments are Abb Ltd, BP Chargemaster, Chargepoint Holdings, Inc, Delta Electronics, Inc, Eaton Corporation Plc, Leviton Manufacturing Co., Inc., Schneider Electric, Siemens AG, Tesla, and Webasto Group.
Key Benefits
-
The electric vehicle supply equipment report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on
-
The study comprises a deep dive analysis of the global market trend including the current and future trends for depicting the prevalent investment pockets in the market
-
The information related to key drivers, restraints and opportunities and their impact on the market is provided in the report.
-
The market share of the players in the global electric vehicle supply equipment market along with their competitive analysis.
-
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Electric Vehicle Supply Equipment Market Key Segments
By Power Type
-
Alternating Current Power
-
Level 1
-
Level 2
-
Level 3
-
-
Direct Current Power
-
Level 1
-
Level 2
-
Level 3
-
By Product Type
-
Portable Charger
-
Electric Vehicle Kiosk
-
Onboard Charging Station
-
Other Products
By Charging Station Type
-
Normal Charging
-
Super Charging
-
Inductive Charging
By Application
-
Commercial
-
Destination Charging Station
-
Highway Charging Station
-
Bus Charging Station
-
Fleet Charging Station
-
Other Charging Station
-
- Residential
By Geography
-
North America
-
U.S.
-
Canada
-
Mexico
-
-
Europe
-
UK
-
Italy
-
Germany
-
Spain
-
Netherlands
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Taiwan
-
Vietnam
-
Rest of Asia Pacific
-
-
RoW
-
Latin America
-
Middle East
-
Africa
-
Report Scope and Segmentation
|
Parameters |
Details |
|
Analysis Period |
2019–2030 |
|
Base Year Considered |
2020 |
|
Forecast Period |
2020–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Market Segmentation |
By Power Type (Alternating Current (AC) Power, and Direct Current (DC) Power), Product Type (Portable Charger, Electric Vehicle Kiosk, Onboard Charging Station, and Others), Charging Station Type (Normal Charging, Super Charging, and Inductive Charging), and Application (Commercial, and Residential) |
|
Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Italy, Germany, Spain, Netherlands, Rest of Europe) Asia-Pacific (China, Japan, India, Australia, South Korea, Taiwan, Vietnam, Rest of Asia Pacific) RoW (Latin America, Middle East, Africa) |
|
Companies Profiled |
Abb Ltd, BP Chargemaster, Chargepoint Holdings, Inc, Delta Electronics, Inc, Eaton Corporation Plc, Leviton Manufacturing Co., Inc., Schneider Electric, Siemens AG, Tesla, and Webasto Group. |
KEY PLAYERS:
-
Abb Ltd
-
BP Chargemaster
-
Chargepoint Holdings, Inc
-
Delta Electronics, Inc
-
Eaton Corporation Plc
-
Leviton Manufacturing Co., Inc.
-
Schneider Electric
-
Siemens AG
-
Tesla
-
Webasto Group
At Next Move Strategy Consulting, we understand that insightful market research is the cornerstone of successful business decisions. That's why we employ a robust and multifaceted approach, combining various methodologies to deliver the most accurate and actionable data for our clients.
Research Landscape
We navigate the world of research with two primary approaches:
Qualitative Approach
Our qualitative research methodologies involve immersive techniques such as in-depth interviews, focus groups, and observational studies. By engaging directly with individuals and stakeholders, we uncover valuable insights that quantitative data alone may overlook.
Quantitative Research
In tandem with qualitative methodologies, NMSC leverages the power of Quantitative Research to provide a robust foundation of numerical insights. Through systematic data collection and analysis, we quantify patterns, preferences, and market trends, offering a comprehensive view of the business landscape.
Our quantitative research approach employs diverse tools, including surveys, experiments, and statistical modelling. These methodologies enable us to gather data from a large and representative sample, ensuring the statistical significance of our findings. By employing structured questionnaires and standardized data collection methods, we guarantee the reliability and validity of the information we present to our clients.
Quantitative research is particularly effective in measuring the prevalence of trends, assessing market size, and gauging the impact of various factors on consumer behavior. The numerical precision attained through this approach equips our clients with actionable insights, facilitating data-driven decision-making and strategy formulation.
Our Specialized Toolbox for Industry-Specific Market Research
We deploy a specialized arsenal of techniques tailored to meet your unique requirements. Here's a glimpse into our comprehensive toolbox:
Information Procurement
The stage entails acquiring market data or relevant information through various sources and methodologies.
Market Research Approach
We utilize both top-down and bottom-up approaches in market research analysis to achieve a comprehensive understanding of the market dynamics, leveraging the broad perspective of industry trends and macroeconomic factors alongside detailed insights from specific segments and individual companies.
Porters Five Forces Analysis
We conduct Porter's Five Forces analysis to evaluate the competitive landscape of an industry, providing us with insights into factors that affect profitability and strategic positioning.
SWOT Analysis
We conduct SWOT analysis to understand market trends, identify potential threats, capitalize on opportunities, and assess our strengths and weaknesses.
Forecasting
We utilize a forecasting model to predict future consumption by considering parameters like population, economics, regulations, market competition, drivers, constraints, technology, and pricing. We also employ statistical techniques such as multilinear regression, exponential smoothing, moving average, ARIMA, and Monte Carlo simulations for accurate predictions. In econometric forecasting, we analyzed short-term and long-term event impacts, attributing values based on regulatory frameworks, economic factors, and market events.
Frequently Asked Questions
Download Free Sample
Speak to Our Analyst
Related Report
Related Blogs
India’s Growing EV Charging Infrastructure: A Detailed Look at Charge Point Operators in 2023
As India accelerates towards a sustainable and environmental...
Siemens, Emerson and Honeywell: Powerhouses in the Distributed I/O Market
The Global Distributed I/O Market, valued at USD 3.52 billio...
How Kawasaki and Daihen are Shaping the Future of Wafer Handling Robotics
The Wafer Handling Robots Market, estimated at USD 1.60 bill...
