150 State St., Albany,
NY, USA, 12207
The global market of electrical vehicles has seen a substantial growth since the last decade, which has also led to an automatic surge in the electric vehicles fast charging industry. Fast charging is one of the predominant parts of the electric vehicles ecosystem market and without which the EV market is almost understandably incomplete. These chargers are used to charge batteries of electric vehicles at a faster rate by supplying electric energy to the electric vehicles to charge the battery of both electric vehicles and plug-in hybrid vehicles. According to some classified reports, this market is expected to grow at an enormous CAGR of around 19.22% during 2020-2029 because of the prevailing market conditions in different regions of the world.
The growth of this market is attributed towards major factors including the rise in electric vehicles sales, emission control regulations, technological advancements, increasing push from government for the deployment of highway chargers as well as fast bus chargers, transition from conventional energy for charging system and various evolving business models for EV charging.
Clearly, governments all around the globe have invested substantial funding to incentivize electric vehicle sales and the associated charging infrastructure as they are starting to consider transportation electrification as the ultimate step toward air quality, climate, and energy independence goals. But also, the market is starting to grow from the consumer demand perspective and in some years will begin to reach into the mainstream competition. And owing to this, there is a strong potential for a complete transition into a commercially sustainable business.
Moreover, the cost to set up electric vehicle charging infrastructure has declined substantially over the past 5 years due to growth in volumes. For fast charging, connector types vary by OEMs as well as region. The Japanese OEMs prefer CHAdeMO fast charging standard whereas American and European OEMs prefer Combined Charging System (CCS), China has created its own GB/T standard for domestic DC fast charging networks. Adding to this, about 20,000 ChadeMO DC fast chargers are in use globally and it will continue to grow at double digits till 2025.
Though, lack of standardization, inconsistent data availability, high cost of equipment and installation are some restraining factors that hamper the overall market growth, there is a lot happening among EV fast charger industry stakeholders right now. Oil companies are feeling the heat of EV market growth and in order to sustain themselves in and for the future, they have started making inroads in EV charging market and have also accordingly made some big investments and acquisitions.
ELECTRIC VEHICLE FAST CHARGING MARKET SEGMENTATION:
By End Users:
IMPORTANT REGIONAL INSIGHT:
The APAC region dominated the global fast charging market in last 2-3 years, and is anticipated to hold considerable market share during the forecast period owing to the increasing acceptance of electric vehicles in the developing countries of the region.
FEW KEY PLAYERS IN THE MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Electric Vehicle Fast Charging market by the following segments:
- End Users
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Electric Vehicle Fast Charging Industry Report
The report offers a comprehensive insight on the Electric Vehicle Fast Charging Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.