The report “Electric Vehicle Charging Stations Market by Charging Level (Level 1, Level 2 & Level 3), Application (Public & Private), Charging Infrastructure, Electric Bus Charging, Installation (Portable Charger & Fixed Charger), Charging Station type & Region – Global Forecast to 2027″, The global electric vehicle charging stations market is projected to grow from USD 2.5 billion in 2019 to reach USD 27.6 billion by 2027, at a CAGR of 34.7% during the forecast period.
The growth of electric vehicle charging market is influenced by factors such as the growing demand for electric vehicles and the growing sensitivity of various governments toward a cleaner environment. Technological advancements in electric vehicle charging and enhanced range of distance covered by electric vehicles are some of the major factors driving the growth of electric vehicles. These vehicles require the installation of efficient charging infrastructure. Thus, the electric vehicle charging market is expected to witness significant growth in the future.
Frequently Asked Questions (FAQ):
Q. WHAT IS THE MARKET SIZE OF THE GLOBAL ELECTRIC VEHICLES CHARGING STATIONS MARKET?
A. The electric vehicle charging stations market is projected to reach USD 27.7 billion by 2027 from an estimated USD 2.5 billion in 2019, at a CAGR of 34.7% during the forecast period.
Q. Who are the top players in the electric vehicles charging stations market?
A. The global electric vehicle charging stations market is dominated by major players such as Tesla (US), ABB (Switzerland), Siemens (Germany), and Bosch (Germany).
Q. What are the latest developments in this market?
A. In March 2019, Tesla unveiled V3 Supercharging, the next step in the growth of Tesla’s Supercharger network. V3, which is born from Tesla’s experience in building the world’s largest grid-connected batteries, enables vehicles to charge faster than any other electric vehicle in the market today.
Q. Europe dominates the power-to-gas market with an increasing demand for decarbonizing the energy sector operations through hydrogen generation. Countries such as Germany and Denmark are looking to effectively integrate the excess renewable energy production
A. Europe dominates the power-to-gas market with an increasing demand for decarbonizing the energy sector operations through hydrogen generation. Countries such as Germany and Denmark are looking to effectively integrate the excess renewable energy production
Q. WHICH CHARGING LEVEL WILL DOMINATE THE MARKET BY 2027?
A. Level 1 charging is expected to dominate the market by 2027. Level 3 charging would register the maximum growth during the forecast period.aders, ITM power, entered into a partnership with INOVYN, Storengy, Cadent, and Element Energy to deploy a 100+ MW paders, ITM power, entered into a partnership with INOVYN, Storengy, Cadent, and Element Energy to deploy a 100+ MW power-to-gas project in the UK.
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