Electric Vehicle Chargers Market by Vehicle Type (Battery Electric Vehicles (BEV), Plug-In Electric Vehicles (PHEV), and Hybrid Electric Vehicles (HEV)), Charging Type (On-Board Chargers and Off-Board Chargers), and End User (Residential and Commercial EV Chargers) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Electric vehicle chargers are used to charge electric vehicle with a battery. Currently, there are three different modes of charging available in the market namely level 1, level 2, and DC fast charging.
Level 1 and Level 2 charging are the types of AC mode of charging which charge the vehicle at 120 volts and 240 volts, respectively. Such chargers can be installed at home or public places as per the individual’s requirements.
Surge in demand of luxury and high-end electric vehicles has driven the demand of EV chargers in the market. Further, stringent government regulations to curb carbon emission is expected to boost the market.
By end user, the electric vehicle chargers market is divided into residential and commercial chargers. Further, based on charging type, the market is bifurcated into on-board and off-board chargers.
Government regulations regarding the use of electric vehicles to curb environmental pollution drives the demand for electric vehicles. Further, rise in demand for electric vehicles is also expected to fuel the market growth.
However, high price of electric vehicles and lack of presence EV chargers at public places is anticipated to hinder the growth of the market. Furthermore, increase in demand of luxury electric vehicles is expected to create lucrative opportunities to key players of the market.
The electric vehicle chargers market is segmented on the basis of vehicle type, charging type, end user, and region. By vehicle type, the market is divided into battery electric vehicles (BEV), plug-in electric vehicles (PHEV), and hybrid electric vehicles (HEV).
Based on charging type, the market is bifurcated into on-board and off-board chargers. By end user, the market is classified into residential and commercial EV chargers.
Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market are ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, Chargemaster PLC, Schaffner Holdings AG, and POD Point.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the global electric vehicle chargers market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
- Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers.
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