Japan Electric Vehicle (EV) Charging Market by Charging Type (Off-Board Top-Down Pantograph, On-Board Bottom-Up Pantograph, and Charging Via Connector), Charging Voltage Level (Level 1 (<3.7 KW), Level 2 (3.7–22 KW), and Level 3 (Above 22 KW)), Charger Type (Slow Charger and Fast Charger), Vehicle Charging (AC, DC, Inductive Charging), Application (Commercial and Residential), Commercial (Commercial Public EV Charging Stations, On-Road Charging and Commercial Private EV Charging Stations), Installation Type (Portable Charger and Fixed Charger), IoT Connectivity (Non-Connected Charging Stations and Smart Connected Charging Stations (Networked)) and Charging Standard (CCS, CHADEMO & GB/T, Type 1/Normal Charging, Tesla Super Charger, Type-2, and Level 3) – Opportunity Analysis and Industry Forecast 2023–2030
Industry: Automotive & Transportation | Publish Date: 26-Sep-2023 | No of Pages: 90 | No. of Tables: 72 | No. of Figures: 41 | Format: PDF | Report Code : N/A
Market Definition
Japan Electric Vehicle (EV) Charging Market was valued at USD 334.83 million in 2022, and is predicted to reach USD 3824.2 million by 2030, with a CAGR of 36.0% from 2023 to 2030. Electric vehicle chargers are characterized by the rate at which they deliver energy to the vehicle's battery. They serve as a vital infrastructure connecting plug-in electric vehicles to electrical outlets for the purpose of recharging the vehicle's battery. These chargers facilitate the charging process by supplying the necessary electrical energy to the EV's battery.
Charging stations are compatible with electric vehicles, neighborhood electric vehicles (NEVs), and plug-in hybrids, allowing them to connect to an electrical source for charging. Some charging stations come equipped with advanced functionalities such as smart meters, cellular connectivity, and network access.
The charging of EVs can be carried out through several levels of charging such as level 1, level 2, and level 3. The higher the level of charging, the faster the charging process causing more power to be delivered to the vehicle. The use of electric vehicles significantly reduces the carbon footprints released into the atmosphere, which contain toxic gas. The growing threat of carbon emissions and other harmful gases stemming from transportation has triggered the vital necessity of adopting electric vehicles.
In addition, the penetration of EV charging is high in commercial spaces as compared to residential ones. Long-distance trips would benefit from ultra-fast charging capabilities made possible by public charging infrastructure. However, EV chargers for residential spaces offer significant growth potential as they are affordable and more convenient for charging electric vehicles as compared to commercial charging stations.
Japan's Ministry Promotes Electric Vehicle Charging Facilities Alongside Roads
Japan’s transport ministry is considering measures that would make it easier to install electric vehicle charging facilities alongside public roads that aim to promote the use of eco-friendly vehicles in order to reduce emissions. The ministry further plans to install more charging facilities in short lanes alongside public roads and examine the impact on traffic. For instance, there were 877 EV charging stations located at Michi no Eki, and 383 at service or parking areas next to public roads as of March 2021.
Prominent Companies' Collaborations and Product Launches to Fuel EV Charging Market Growth
The presence of several prominent companies that are engaged in various strategies such as collaboration and product launch is expected to create ample growth of the market. For instance, in January 2022, Here Technologies and Digital Charging Solutions GmbH entered a strategic collaboration to provide a seamless charging experience for electric vehicles. DCS has expertise in authenticating the charging process, access to charging stations, payment, Booking, and billing services, and more than 280,000 charging points across Europe and Japan.
Additionally, in November 2021, ENECHANGE Ltd announced to offer ENECHANGE EV charging service with the aim of improving the convenience of EV charging and increasing the value of parking spaces across Japan. Through this development, the company plans to work in order to contribute to the expansion of EVs and charging infrastructure.
Fast Chargers' High Initial Setup Costs Hinder the EV Charging Market Growth
The absence of incentives and concerns about the steep installation expenses for EV chargers could hinder the sector's growth. One of the most significant obstacles to expanding this industry is the substantial upfront cost associated with level 3 and ultra-fast chargers. While level 1 and level 2 chargers can require anywhere from 6 to 16 hours for a full charge, consumers are accustomed to refuelling their conventional fossil fuel vehicles in just 5 to 7 minutes.
Fast chargers that can charge EVs in under 30 minutes are therefore in demand on the market. A level 3 charging station can be somewhat expensive at first, though. For those who might want to transition to EVs, this could be a deterrent because a lengthy charging period might interfere with their already hectic schedules.
Surging Adoption of Vehicle-to-Grid (V2G) EV Charging Stations in Japan Unlocks Promising Opportunities
A technology called vehicle-to-grid (V2G) EV charging allows plug-in EVs and the power grid to exchange electrical energy in both directions. Electric vehicles (EVs) can store extra electricity and release it to the grid thanks to V2G technology. This may enhance the functionality of the electrical component and increase value for EV owners.
The development of this concept has made charging for electric vehicles easier, and EVs are now among people's top transportation options. As a result, the entire market for charging stations is essential for connecting the electric vehicle to the grid and enabling the vehicle to charge.
Two V2G EV vehicle charging stations were erected by Enel Energia S.p.A. at the Italian Institute of Technology's Genoa headquarters. The installation is a part of MOV-E, a Nissan-sponsored corporate electric car sharing trial project. The Italian Institute of Technology received two battery electric vehicles (LEAF models) from Nissan as well as the Glide app management platform. The partnership between Enel and Nissan represents a shift in the way that technology is used for sustainable transportation.
As a result, manufacturers have a great chance with the V2G charging technology because it is predicted to change the EV industry and determine how EVs will be charged in the future. Although V2G infrastructure is more beneficial than smart charging, installing V2G charging stations has a hefty up-front cost. Manufacturers of EV connectors are projected to have opportunities to produce sophisticated connectors to withstand electrical architecture due to the predictable and anticipated expansion of V2G technology.
Competitive Landscape
The Japan Electric Vehicle (EV) Charging industry includes several market players such as ABB Ltd., ChargePoint, Inc, Tesla Inc, Shell Recharge Solutions, Star Charge, TELD, Siemens, BYD, EVgo, and Hyundai Motor Company.
KEY BENEFITS
-
The Japan Electric Vehicle (EV) Charging market report provides a quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.
-
The study comprises a deep dive analysis of the 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 competitive analysis of the market players along with their market share in the Japan Electric Vehicle (EV) Charging market.
-
The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
-
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
JAPAN ELECTRIC VEHICLE (EV) CHARGING MARKET KEY SEGMENTS
By Charging Type
-
Off-Board Top-Down Pantograph
-
On-Board Bottom-Up Pantograph
-
Charging Via Connector
By Charging Voltage Level
-
Level 1 (<3.7 KW)
-
Level 2 (3.7–22 KW)
-
Level 3 (Above 22 KW)
By Charger Type
-
Slow Charger
-
Fast Charger
By IOT Connectivity
-
Non-Connected Charging Stations
-
Smart Connected Charging Stations (Networked)
By Vehicle Charging
-
AC (Normal Charging)
-
DC (Super Charging)
-
Inductive Charging
By Application
-
Commercial
-
Residential
By Commercial
-
Commercial Public EV Charging Stations
-
On-Road Charging
-
Parking Spaces
-
Destination Chargers
-
-
Commercial Private EV Charging Stations
-
Fleet Charging
-
Captive Charging
-
By Installation Type
-
Portable Charging
-
Fixed Charging
-
Wall Mount
-
Pedestal Mount
-
Ceiling Mount
-
By Charging Standard
-
CCS
-
CHADEMO & GB/T
-
Type 1/Normal Charging
-
Tesla Super Charger
-
Type-2
-
Level 3
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2022 |
USD 334.83 Million |
|
Market Volume in 2022 |
32 Thousand Units |
|
Revenue Forecast in 2030 |
USD 3824.2 Million |
|
Growth Rate |
CAGR of 36.0% from 2023 to 2030 |
|
Analysis Period |
2022–2030 |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
The increasing government initiatives. The presence of several prominent companies. |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
-
ABB Ltd.
-
ChargePoint, Inc
-
Tesla Inc
-
Shell Recharge Solutions
-
Star Charge
-
TELD
-
Siemens
-
BYD
-
EVgo
-
Hyundai Motor Company
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...
