EV Charging Infrastructure Market to Account to US$ 95.98 Billion by 2027

The global EV Charging Infrastructure market is accounted to US$ 6.45 Bn in 2018 and is expected to grow at a CAGR of 36.8% during the forecast period 2019 – 2027

The EV Charging Infrastructure market is highly competitive with a considerable number of players, having a high level of dominance over the overall revenue share. Most of the companies operating in the EV Charging Infrastructure market are present globally and sales network through partnerships or authorized dealers.

The most prominent market players in EV Charging Infrastructure market are ABB Ltd., ABM Industries Incorporated, Bosch Automotive Service Solution, ChargePoint, Inc., DELTA ELECTRONICS, Driivz Ltd., EVbox, Leviton Manufacturing Co., Inc., Siemens AG, and Tesla, Inc.  among others for a considerable share of the market owing to their product and services offerings to the EV Charging Infrastructure market. Several automakers in the present scenario are emphasizing on the development of advanced EVs, which is leading to the emergence of several associated businesses such as EV charging infrastructure services. Similar to petrol, diesel and gas pumps, several EV charging infrastructure providers are emerging with the rising demand for public EV charging. The total number of electric vehicles on the road has exceeded 3 million marks by the end of 2017 as per International Energy Agency (IEA). China and the US have the maximum number of electric vehicles as well as electric vehicle charging infrastructures worldwide.

EV Charging Infrastructure market leaders are involved in extensive research for the development of new products with advanced technology. For instance, in 2019,  Tesla announced the introduction of new V3 Supercharger to enhance its Supercharger network further. This new Supercharger uses the largest grid-connected batteries that permits the vehicles to charge faster than any other electric vehicle. Subsequently, the introduction of such advanced innovation is expected to provide this EV Charging Infrastructure market with lucrative growth opportunities.

Many well-known, as well as small local companies, are present in the EV Charging Infrastructure market to provide the diversified product to its customers. The larger firms are adopting the strategy of partnership, investment scenario and many more for the deployment of new technological solutions to enhance its product portfolio and expand its footprint in different geographies. Few of the important EV Charging Infrastructure market initiative from the industry are mentioned below:

Year News Country
2019 EVBox announced the installation of five Automated External Defibrillator (AED)-equipped EVBox charging stations in Rotterdam, The Netherlands. With this installation the company enhances the national AED coverage as well as provides first-aid helpers an easier and quicker access. Europe
2018 ChargePoint entered into a partnership with Daimler AG for installing the charging solutions for dealerships across Germany.  Daimler financed the Series G of ChargePoint, by raising a funding of US$ 125 million for supporting the company’s expansion into Europe. Europe
2018 Centrica and Ombu invested in Driivz of worth US$12 million to support the boosting customer demand and along with Driivz to meet and create new offers for customers which connect home, work and on-the-road car charging. Middle East & Africa
2017 Delta Showcased Energy Efficient Smart Solutions at IREE 2017. The solutions includes EV Chargers rolling stock converters, Integrated Power Supplies for S&T, Power Quality Restorer for TSS, Solar Inverter & Battery Energy Storage, and Station Power & Display Systems. APAC

 

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