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The global EV Charger Market size of 25.15 billion USD in 2022 is projected to reach a CAGR of 30.6% from 2023-2030.
Electric vehicle (EV) chargers are utilized to supply charging to EVs equipped with batteries and the electrical source that aids in battery charging. These vehicles can be charged at one of three charging levels, namely level 1, level 2, and level 3. Electric vehicles are less expensive than traditional petrol/diesel cars in terms of purchase price as well as maintenance costs. The harmful gas-containing carbon footprints that are discharged into the atmosphere are decreased by electric automobiles.
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Government restrictions to reduce environmental pollution, a rise in the market share of electric vehicles, and a surge in government initiatives to provide infrastructure for electric vehicle charging are some of the key factors influencing the growth of the electric vehicle charger market. The market is also significantly impacted by the small number of EV charging stations, the lack of EV charging standards, the surge in demand for luxury and feature-equipped cars, and wireless charging for EVs. Each of these elements is expected to have a significant impact on the market for electric vehicle chargers.
Recent Developments
- In November 2021, Tesla launched the new version of Den 2 wall connector that is compatible with all types of EVs available in the North American Region.
- In October 2021, Terra 360, the world’s fastest EV charging station, was launched by ABB. It has the capacity to charge most EVs in less than 15 minutes and can deliver up to 100 km range in less than 3 minutes.
Prominent Players
· AeroVironment, Inc.
· ABB
· BP Chargemaster
· ChargePoint, Inc.
· ClipperCreek, Inc.
· Eaton Corp.
· General Electric Company
· Leviton Manufacturing Co., Inc.
· SemaConnect, Inc.
· Schneider Electric
· Siemens AG
· Tesla, Inc.
· Webasto SE
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Asia Pacific to Dominate the Market
- In 2021, the market for EV chargers was dominated by Asia Pacific. The market for EV chargers in the Asia Pacific region is primarily driven by the expansion of EV charging infrastructure and rising interest in electric vehicles.
- The EV charger market is expanding thanks to China and India. To encourage the use of electric vehicles in the nation, growing economies like China, South Korea, and Japan intend to increase the number of charging stations.
EV Charger Market Segmentation:
On the basis of Vehicle Type
· Plug-in Hybrid Vehicle (PHEV)
· Battery Electric Vehicle (BEV)
· Hybrid Electric Vehicle (HEV)
On the basis of the End User
· Residential
· Commercial
On the basis of the Charging Type
· On-board Charger
· Off-board Charger
On the basis of the distribution channel
· Supermarkets & Hypermarkets
· Convenience Stores
· Pharmacy & drugstore
· Online
· Others
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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Frequently Asked Questions
· What are the years considered to study this market intelligence report?
· What is the compound annual growth rate (CAGR) of the EV Charger Market?
· Which region holds the largest market share in EV Charger Market?
· Who are the major players in EV Charger Market?
· Which region is the fastest growing region in EV Charger Market?
In addition to the market data for EV Charger Market, Delvens offers a client-centric report and customized according to the company’s specific demand and requirement.
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