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Global Electric Vehicle Charging Station Market 2019-2023 | 33% CAGR Projection Over the Next Four | Technavio

January 10, 2019

LONDON--(BUSINESS WIRE)--Jan 10, 2019--The global electric vehicle charging station market is expected to post a CAGR of over 33% during the period 2019-2023, according to the latest market research report by .

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Technavio has released a new market research report on the global electric vehicle (EV) charging station market for the period 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the growing demand for energy-efficient automobiles. In a bid to reduce environmental pollution caused by gasoline and petrol vehicles, the use of energy-efficient automobiles such as EVs is being incentivized by governments around the world. Since EVs reduce emissions from the transportation-sector they also reduce carbon footprint. Countries such as China, the US, and some countries in Europe are the major adopters of EVs.

As per Technavio, technological advances in EV charging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

This report is available at a USD 1,000 discount for a limited time only:

Global electric vehicle charging station market: Technological advances in EV charging

Though there is an increase in adoption of EVs, one of the major constraints in the market happens to be the limitations in their charging infrastructure. To overcome this hurdle, some of the major companies are focusing on developing better charging technologies. The growing need for fast and convenient charging systems for various EVs has elevated the need for EV charging stations equipped with better technology. The increasing focus on reducing the charging time for EVs has increased the adoption of fast charging networks such as universal fast chargers, ultra-fast chargers, and bidirectional fast chargers.

“Wireless EV charging has also become popular owing to its potential of reducing battery charging times. Wireless EV charging stations allow drivers to park and charge the vehicles without the plug-in cables or adaptors. Wireless EV charging uses inductive charging, in which the electricity is transferred through an air gap from one magnetic coil in the charger to a second magnetic coil fitted to the car. Such technological advances are likely to drive market growth,” says a senior analyst at Technavio for research on auto parts & equipment.

Global electric vehicle charging station market: Segmentation analysis

This market research report segments the global electric vehicle charging station market by charging station (AC and DC), installation type (commercial and residential), and geographical regions (APAC, EMEA, and the Americas).

The AC segment held the largest market share in 2018, accounting for nearly 59% of the market. This segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2018, and the region is expected to dominate the market through 2023, with over 2% increase in its market share.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190110005346/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/10/2019 07:45 AM/DISC: 01/10/2019 07:45 AM

http://www.businesswire.com/news/home/20190110005346/en

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