Dec 24, 2018 05:00 PM IST | Technology

Global Electric Vehicle Charger Market 2018-2022| Key Facts and Figures | Technavio

However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

Technavio has released a new market research report on the global electric vehicle charger market for the period 2018-2022.

Global Electric Vehicle Charger Market 2018-2022| Key Facts and Figures | Technavio

Technavio analysts forecast the global electric vehicle charger market to post a CAGR of over 34% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

Technavio has released a new market research report on the global electric vehicle charger market for the period 2018-2022.

OEMs focusing on connected EVs is one of the major trends being witnessed in the global electric vehicle charger market 2018-2022. The adoption rate of EVs by end-users is mainly restricted owing to range anxiety. Several OEMs have started developing a connectivity module, which will be a standard unit in EVs to alleviate the problem shortly.

This report is available at a $1,000 discount for a limited time only:View market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to the growth of the global electric vehicle charger market is the increasing sales of electric vehicles:

Global electric vehicle charger market: Increasing sales of electric vehicles

The growing demand for vehicles by daily commuters or long-distance travelers is contributing towards the rising vehicle production across different regions. For example, in countries such as India and China, the number of vehicles is estimated to be more than 50 million and is continually increasing at a significant rate, which could have a detrimental impact on the environment due to the constant increase in automotive exhaust emissions. Thus, the government worldwide are enforcing regulations for both automotive manufacturers and consumers to control the rate of exhaust emissions.

According to a senior analyst at Technavio for research on automotive components, “Electric vehicles are being developed at a rapid pace as the governments worldwide are pushing the adoption of these vehicles among consumers by implementing initiatives aimed at generating awareness and offering incentives. When compared to mid-size and full-size ICE vehicles, mid-size EVs and full-size EV have reduced CO2 emissions by 51% and 53%, respectively. The push for electrification in ICE segment is allowing the ICE passenger cars to reduce the emissions while increasing effectiveness.”

Global electric vehicle charger market: Segmentation analysis

The global electric vehicle charger market research report provides market segmentation by type (AC charger, inductive wireless charger, and DC fast charger) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

APAC led the market in 2017 with a market share of nearly 43%. This region is expected to dominate the market through 2022, with nearly 9% increase in its market share.

Looking for more information on this market? Request a free sample report

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

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.

Published Date: Dec 25th, 2018 06:00 AM | Updated Date: Dec 24, 2018 05:00 PM IST

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