The goal of PTR’s EV Charging Infrastructure Market Service is to provide unparalleled coverage of the EV Charging hardware market. The service’s goal is to help you learn about this market, which is growing at a rate of double digits, so you can align your product and market strategy to get the most out of it and reduce risks by planning ahead of time to get ready for this 2.5 billion USD market.
Universally, EV charging market is supposed to develop with a CAGR of 21% in the following five years, inside which, public charging and private charging framework are supposed to develop with a CAGR of 18% and 23% separately between 2020-2025. From 2019 to 2020, there was a promising 90% increase in annual DC charging point additions worldwide. With 332,000 charging points, almost 93% of them in China, APAC has the most DC chargers installed. AC charging would still account for the majority of public charging infrastructure, even though DC fast charging is gaining significant market share thanks to larger battery sizes.
In most cases, government-sponsored incentives drive residential charging; thus government strategies and spending plans assume a critical part in EVSE establishments at homes. whereas owners of battery electric vehicles are more likely than owners of plug-in hybrid vehicles to purchase a residential charger; Consequently, there are fewer residential chargers in nations with a greater number of PHEVs. There are approximately 3.1 million residential chargers for over 10 million passenger electric vehicles all over the world.
After residential charging, commercial vehicle charging points make up a significant portion of private EV charging. AC charging is preferred for overnight charging of buses, trucks, and light commercial vehicles, but DC charging is preferred for opportunity charging. Given the need for charging these vehicles, it is anticipated that this trend will continue over time.
Oil giants are also diversifying into the EV charging business, either by acquiring Charge Point Operators (CPOs) and Electric Mobility Service Providers (EMSPs) or by installing chargers in gas stations using the existing infrastructure. In addition, it is anticipated that large multinational corporations and government vehicles will electrify their fleets prior to widespread public adoption of electric passenger vehicles in most nations.
The market size in this service is divided into three categories: Charger Application, Charger Customer, and Charger Capacity or Size. Market estimating by limit rating is intended to assist you with thinking up your item methodology by figuring out the interest of AC and DC chargers across different sizes for public and confidential applications. Market sizing by Application focuses on end applications like residential, workplace, depot, destination, and en route charging. By looking at the end-application segments and how their plans for EVSE incorporation are affecting the market, you can get a detailed understanding of the market’s growth drivers. Last but not least, the segmentation by charger owner provides a clear picture of who is purchasing these chargers because the end-application and the actual owner or operator of the EV charger can sometimes be very different, as is the case when a utility installs the charger on a highway (en route).
The goal of PTR’s EV Charging Infrastructure Market Service is to provide unparalleled coverage of the EV Charging hardware market. The service’s goal is to help you learn about this market, which is growing at a rate of double digits, so you can align your product and market strategy to get the most out of it and reduce risks by planning ahead of time to get ready for this 2.5 billion USD market.
Universally, EV charging market is supposed to develop with a CAGR of 21% in the following five years, inside which, public charging and private charging framework are supposed to develop with a CAGR of 18% and 23% separately between 2020-2025. From 2019 to 2020, there was a promising 90% increase in annual DC charging point additions worldwide. With 332,000 charging points, almost 93% of them in China, APAC has the most DC chargers installed. AC charging would still account for the majority of public charging infrastructure, even though DC fast charging is gaining significant market share thanks to larger battery sizes.
In most cases, government-sponsored incentives drive residential charging; thus government strategies and spending plans assume a critical part in EVSE establishments at homes. whereas owners of battery electric vehicles are more likely than owners of plug-in hybrid vehicles to purchase a residential charger; Consequently, there are fewer residential chargers in nations with a greater number of PHEVs. There are approximately 3.1 million residential chargers for over 10 million passenger electric vehicles all over the world.
After residential charging, commercial vehicle charging points make up a significant portion of private EV charging. AC charging is preferred for overnight charging of buses, trucks, and light commercial vehicles, but DC charging is preferred for opportunity charging. Given the need for charging these vehicles, it is anticipated that this trend will continue over time.
Oil giants are also diversifying into the EV charging business, either by acquiring Charge Point Operators (CPOs) and Electric Mobility Service Providers (EMSPs) or by installing chargers in gas stations using the existing infrastructure. In addition, it is anticipated that large multinational corporations and government vehicles will electrify their fleets prior to widespread public adoption of electric passenger vehicles in most nations.
The market size in this service is divided into three categories: Charger Application, Charger Customer, and Charger Capacity or Size. Market estimating by limit rating is intended to assist you with thinking up your item methodology by figuring out the interest of AC and DC chargers across different sizes for public and confidential applications. Market sizing by Application focuses on end applications like residential, workplace, depot, destination, and en route charging. By looking at the end-application segments and how their plans for EVSE incorporation are affecting the market, you can get a detailed understanding of the market’s growth drivers. Last but not least, the segmentation by charger owner provides a clear picture of who is purchasing these chargers because the end-application and the actual owner or operator of the EV charger can sometimes be very different, as is the case when a utility installs the charger on a highway (en route).
