North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market to Witness Notable Growth over 2021-2029 owing to Increasing Sales of EVs in These Nations
Key Companies Covered in the North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market Research Report Are Leviton Manufacturing Co., Inc., SemaConnect Inc., Schneider Electric, Siemens, Tesla, Inc., Shell International B.V., Blink Charging Co., Webasto Charging Systems, Inc., ChargePoint, Inc., ABB Ltd. and others key market players.
New York : Environmental pollution can be triggered from various sources, such as gaseous pollutants, particulate matter (PM), and others. One of the major contributors to environmental pollution include high vehicular emissions, which are caused due to the availability of large vehicular fleet powered by conventional fossil fuels.
The United States Environment Protection Agency (EPA), stated in one of its statistics that about 4.6 metric tons of carbon dioxide (CO2) is emitted per year from a typical passenger vehicle.
To combat climate change, the United Nations has framed the 13th sustainable development goal (SDG) that allows nations to take urgent actions to fight environmental pollution and formulate strategies to adopt green initiatives, such as the adoption of electric vehicles, that can help to lower vehicular emissions.
Research Nester has added a detailed report on “North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market” in its repository of market research reports.
The report contains a detailed analysis of the market including the latest trends, underlying opportunities, and the challenges that are associated with the growth of the market for the period 2020-2029. Readers of this report can also find extensive insights, along with the growth indicators that portray a detailed picture for the growth of the market.
Electric vehicle charging station infrastructure refers to all the electric vehicle charging equipment that are deployed in a commercial or residential setting.
The growth of the EV charging station infrastructure market can be attributed to the growing sales of different types of electric vehicles, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and others, along with the increasing availability of electric charging stations in several nations worldwide, and the growing advancements related to EV chargers. According to the statistics by the Transportation Research Center at the Argonne National Laboratory, the sales of electric vehicles in the United States grew from 10.1 thousand in 2011 to 242 thousand in 2019.
Additionally, according to the statistics by the Alternative Fuels Data Center (AFDC) of the U.S. Department of Energy (DOE), electric vehicle charging stations in the U.S. grew from 541 (number of stations) in 2010 to 78,301 in 2019.
Driven by the favorable initiatives by the government that promote the adoption of electric vehicles, the North America, China, Japan, and Germany electric vehicle (EV) charging station infrastructure market is estimated to grow with a significant CAGR during the forecast period, i.e., 2021-2029.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
The North America, China, Japan, and Germany electric vehicle (EV) charging station infrastructure market is segmented by type of charger into slow, moderate, fast, and ultra-fast chargers. Out of these segments, the fast charger segment is anticipated to dominate the market by the end of 2021, backed by the growing availability of fast chargers in the nations such as China, Japan, the United States, and others.
Fast chargers are devised to charge EVs in a very short span of time while protecting the batteries of the vehicle from over charging at the same moment.
According to the statistics by the International Energy Agency (IEA), China occupied the largest share of 82% of the global share for publicly accessible electric vehicle fast chargers in the year 2019.
Additionally, Japan registered to have 7858 units, while the United States recorded 13093 units of publicly accessible electric vehicle fast chargers in the same year.
The North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market is also segmented on the basis of type of charging station, level of charging, type of connector, and by application.
North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market, Segmentation by Type of Charging Station
- Inductive
- AC
- DC
North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market, Segmentation by Level of Charging
- Level 1
- Level 2
- Level 3
North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market, Segmentation by Type of Connector
- Combined Charging System (CCS)
- Type 1
- Type 2
- CHAdeMO
- Standard 3-Pin Plug
- Wireless
- Others
North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market, Segmentation by Application
- Commercial
- Residential
However, the unavailability of a universal charging connector across all these geographies, and the high cost of the charging equipment are some of the factors anticipated to suppress the growth of the market in the coming years.
Impact of COVID-19 on the North America, China, Japan, and Germany Electric Vehicle (EV) Charging Station Infrastructure Market
Undoubtedly, the impact of the coronavirus pandemic had been felt across all the major industry verticals. Unlike the other verticals, the automotive and transportation industry was also one of the most affected industries as the sales of new vehicles were impacted dramatically, and the government of the geographies shifted their investment focus from commercial developments to emergency needs to minimize the spread of the coronavirus disease.
For instance, the Ministry of Finance of China, a nation which is known to have the largest EV fleet in the world, announced a decline in the subsidies for new electric vehicles by 20% for the year 2021.
However, the demand for electric vehicle supply equipment (EVSE) in the U.S. and Canada for public and private sectors grew by 3.6% and 2.4% respectively in the 2nd Quarter of 2020 from the 1st Quarter of 2020, as per the statistics of the National Renewable Energy Laboratory (NREL) of the United States Department of Energy (DOE).
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