Key Companies Covered in the Electric Vehicle (EV) Charging Station Market Research Report are Shell International B.V., Tesla, Inc., Eaton, Schneider Electric, ChargePoint, Inc., Webasto Group, BP Chargemaster, EVBox, Siemens AG and other key market players.
The global Electric Vehicle (EV) Charging Station Marketis set to gain momentum from the rising number of electric vehicles across the world. It would, in turn, affect the capabilities of charging stations, namely, load profiles, generation capacity, and transformer loading levels. Additionally, technological advancement in wide-area communication technology would affect the market positively. This information is provided byFortune Business Insights™in a recently published report, titled, “Global Electric Vehicle Charging Station Market Size, Share and Industry Analysis, By Charger Type (Fast, Slow/ Moderate), By Application (Commercial, Residential), and Regional Forecasts, 2019-2026.” The report further states that the Electric Vehicle Charging Station Market size is projected to reachUSD 264.80 billion by 2026, exhibiting aCAGR of 31.1%during the forecast period. However, it stood atUSD 27.21 billion in 2018.
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This Report Answers the Following Questions:
Rising Production and Sales of Electric Vehicles to Accelerate Growth
The governments of several countries are providing vehicle manufacturers with subsidies for buying electric vehicles. In addition to that, they are offering tax exemption, quotas, subsidies, and rebates. Both these factors are resulting in the high production and sales of electric vehicles worldwide. Besides, owing to increasing pollution, the governments are putting forward stringent rules to curb emissions in the atmosphere and promoting the usage of electric vehicles. All these factors are set to drive the Electric Vehicle Charging Station Market growth during the forthcoming years.
Government Initiatives to Install Charging Stations Will Favor Growth in Asia Pacific
In terms of region, the market is grouped into Latin America, the Middle East and Africa, North America, Europe, and Asia Pacific. Amongst them, Asia Pacific is expected to lead throughout the forecast period. China is likely to play a vital role in propeling the growth in this region. It would occur as the government of China is implementing national policies for the development of charging stations. In Japan and South Korea, the market would grow steadily because of the expansion of the electric vehicle industry.
Europe, on the other hand, held USD 8.49 billion Electric Vehicle Charging Station Market revenue in 2018. This growth is attributable to the increasing initiative by the governments of numerous European countries to install charging stations at a distance of 100 kilometers on the national highway. North America would grow exponentially on account of the vast charging network of automotive manufacturers present throughout the U.S.
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VW Deploys New Charging Stations; ChargePoint and SFMTA Collaborate to Support Electric Buses
The market consists of various big, medium, and small enterprises that are engaging in the strategy of partnership with other renowned companies to bring about unique products to reduce pollution and meet the increasing demand for energy. They are also trying to gain maximum Electric Vehicle Charging Station Market share. Below are a couple of the key industry developments:
Fortune Business Insights™ lists out some of the most reputed organizations present in the Electric Vehicle (EV) Charging Station Market. They are as follows:
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To view the original version on The Express Wire visit Electric Vehicle (EV) Charging Station Market Trends – What will be the Short-term Impact of COVID-19?