Published: April 2020
Increasing awareness related to the importance of reducing carbon footprint across the globe, has compelled individuals to adopt cleaner mobility alternatives, such as electric vehicles
Roots Analysis has announced the addition of “Electric Vehicle Charging Infrastructure Market, 2019-2030” report to its list of offerings.
Currently, many regional governments are promoting the adoption of electric vehicles. However, most of the countries presently don’t have the required charging infrastructure for such vehicles; it is worth noting that construction of a charging infrastructure network reportedly costs between USD 3,500-6,500. We believe that higher adoption of these cleaner alternatives is likely to provide opportunities for electric vehicle charging infrastructure providers and thereby, drive the growth of this market in the foreseen future.
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Solutions for AC charging stations are expected to capture 80% of the market share till 2030
AC chargers, which are also referred to as onboard chargers, are mostly installed in electric cars in order to maintain essential communication with the control system. It is worth highlighting that low cost, easy installation and reliability are the key growth drivers of the AC charging stations market.
Commercial charging stations market is expected to grow at a relatively faster pace
Such stations are publicly available, mostly installed at service locations, places where vehicles are often parked, such as restaurants, shopping malls, hotels and locations near highways. The market for these charging stations is estimated to grow at a CAGR of 39.1%, during the period 2020-2030.
Solutions supporting level 2 charging are anticipated to dominate the market, from 2020-2030
Growth of this market is primarily driven by the increasing demand for charging solutions for home, workplace and parking. It is worth noting that, in 2019, over 80% public outlets in the United States were reported to have level 2 charging solutions for electric vehicles.
Asia Pacific is likely to hold the largest market share, between 2020 to 2030
China, South Korea and Japan are actively supporting the growth of the electric vehicle charging infrastructure market. In fact, about 40% of the world’s CHAdeMO DC fast chargers are installed in Japan. Further, growing awareness and demand for clean and safe mobility solutions is likely to drive the growth of the Asia-Pacific market.
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The USD 140.0 billion (by 2030) financial opportunity within the global electric vehicle charging infrastructure market has been analyzed across the following segments:
The research covers profiles of key players engaged in the electric vehicle charging infrastructure market:
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