DUBLIN--(BUSINESS WIRE)--The "Japan Electric Vehicle Charging Equipment Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Japanese government plans to reduce its carbon footprint through the use of EVs, which has resulted in substantial investments toward the EV infrastructure development. Japan witnessed an increase in the number of EV charging stations, to support the rising number of EVs, on account of the introduction of government subsidies for EV buyers. Additionally, the decrease in the cost of EVs in Japan, as compared to other markets, had further paved the way for the increase in EV adoption and accelerated the development of EV charging infrastructure. The rise in the usage of EVs in Japan has increased the number of stations along highways. Moreover, the government is focusing on supporting the use of EVs for long distances as well as seek more advanced EV charging solutions to shorten the duration for fully charging EVs.
In 2013, the Japanese government announced a deal with auto industry leaders, Nissan, Honda, and Mitsubishi, to invest nearly USD 1.025 billion for building user-friendly electric vehicle charging infrastructure in key locations across the country. The partnership witnessed about 800% increase in the number of EV chargers nationwide, from 4,700 chargers in 2013 to 40,000 charging points in 2016. During the same year, the number of electric car charge points in Japan overtook the number of petrol stations, that is, 40,000 charging points in Japan as compared to 34,000 petrol stations.
Based on connector type, the electric vehicle charging equipment is segmented as CHAdeMO, SAE Combo CCS, Tesla Supercharger, SAE J1772, and IEC 62196. The country aims to install 5,000 CHAdeMO chargers by 2020. In order to support 1 million EVs in Japan, about 5,000 to 10,000 fast chargers need to be installed over the next few years.
On March 2017, Germany and Japan signed a memorandum of understanding (MoU) focusing on the development of international standards for the interoperability of EV charging stations with grid networks. In addition, these nations would jointly research, develop, and pilot ultra-fast charging stations, thus, encouraging the development of EV infrastructure in Japan.
- Nissan Motor Co. Ltd
- Mitsubishi Motors Corporation
- Toyota Motor Corporation
- Honda Motor Co. Ltd
- Tesla Motors Inc.
- Idemitsu Wadacho SS
- Cosmo Energy Holdings Co Ltd
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. PESTLE Analysis
7. Market Segmentation and Analysis
8. Key Company Analysis
9. Competitive Landscape
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