LONDON--(BUSINESS WIRE)--Technavio has been monitoring the EV charging station market and it is poised to grow by USD 19.9 bn during 2020-2024, progressing at a CAGR of almost 34% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the electric vehicle (EV) charging station market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
The deployment of smart grids for EVs is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will accelerate at a CAGR of almost 34% and the incremental growth of the market is anticipated to be $ 19.9 bn.
Who are the top players in the market?
ABB Ltd., ChargePoint Inc., Efacec Power Solutions SGPS SA, ENGIE SA, EVgo Services LLC, Leviton Manufacturing Co. Inc., Schneider Electric SE, Siemens AG, Tesla Inc., and Webasto SE., are some of the major market participants.
What is the key market driver?
The growing adoption of BEVs and PHEVs is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute to 45% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., ChargePoint Inc., Efacec Power Solutions SGPS SA, ENGIE SA, EVgo Services LLC, Leviton Manufacturing Co. Inc., Schneider Electric SE, Siemens AG, Tesla Inc., and Webasto SE. are some of the major market participants. The growing adoption of BEVs and PHEVs will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this electric vehicle (EV) charging station market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Electric Vehicle (EV) Charging Station Market 2020-2024: Segmentation
EV Charging Station Market is segmented as below:
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40837
Electric Vehicle (EV) Charging Station Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The electric vehicle (EV) charging station market report covers the following areas:
- Electric Vehicle (EV) Charging Station Market Size
- Electric Vehicle (EV) Charging Station Market Trends
- Electric Vehicle (EV) Charging Station Market Industry Analysis
This study identifies deployment of smart grids for EVs as one of the prime reasons driving the EV charging station .market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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EV Charging Station Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist electric vehicle (EV) charging station market growth during the next five years
- Estimation of the electric vehicle (EV) charging station market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electric vehicle (EV) charging station market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electric vehicle (EV) charging station market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market Outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TYPE
- Market segmentation by type
- Comparison by type
- AC - Market size and forecast 2019-2024
- DC - Market size and forecast 2019-2024
- Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Increasing number of launches in the field of EV charging solutions
- Vehicle-to-grid infrastructure for decentralized power generation
- Deployment of smart grids for EVs
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- ABB Ltd.
- ChargePoint Inc.
- Efacec Power Solutions SGPS SA
- ENGIE SA
- EVgo Services LLC
- Leviton Manufacturing Co. Inc.
- Schneider Electric SE
- Siemens AG
- Tesla Inc.
- Webasto SE
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE 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 17,000 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.