Electric Car Charger Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026

Electric Car Charger Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026

  • Transparency Market Research
  • Ongoing
  • Semiconductors

Report Description

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Electric cars are often considered as an environmental conscious alternative to conventional cars with internal combustion engines owing to deteriorating environmental quality and soaring fuel prices. These electric cars use electric motors powered by electrical energy stored in a battery for propulsion. These cars are available in a variety of models with varying ranges and capabilities and are plugged in to a source of electrical power to recharge. Thus, they are powered solely by energy stored in the vehicle’s battery system. There is no backup power generation in the vehicle, so when the battery runs out of charge it requires recharging before operating again.

Advances in battery storage technology, lightweight vehicle construction, electric grid automation, soaring gas prices and rising environmental concerns are key elements that are increasing the attractiveness of electric vehicles for consumers as well as businesses across the world. Thus, the major factor driving the electric car charger market is the increasing sales of electric vehicles owing to growing environmental consumer awareness and supportive government regulations in the form of tax rebates, subsidies, and grants. For instance, in 2018, Sustainable Energy Authority of Ireland (SEAI) has offered an ‘Electric Vehicle Home Charger Grant’ of 600 Euros for electric car owners to cover the purchase and installation of home charger systems to new and second-hand electric vehicles. Similarly, the central government of India is also offering incentives for the procurement of electric vehicles in cities that have population over one million. Furthermore, several countries including China, France, and U.K. have already announced that will ban traditional fuel vehicles by 2040.

The factor that is indirectly affecting the electric car charger market is a 150-mile range baseline that has been defined for the latest generation of electric cars. In spite of the descent range, the electric car owners have concerns that they can run out-of-charging during a long road trip or during emergency and the intensity of the issue can multiply ten-fold if the charging station is not nearby. However, owing to supportive government regulations, the scenario is expected to change in the near future.

Wireless charging technology is anticipated to offer numerous opportunities to the electric car charger market owing to the factors including convenience, safety, reliability, etc. In wireless charging, users can remotely control the charging process via mobile phones and other devices thereby enhancing the user experience. Also, since there are no wires involved, issues such as cable aging, leakage, magnetic effect, etc. are eliminated. Furthermore, wireless charging leads to reduced battery capacity requirements, suppression of renewable energy output fluctuation, and effective use of land resources. Therefore, the electric vehicle wireless charging is expected to be an important developmental direction in the future.

The electric car charger market can be classified on the basis of type, end-user, and geography. Based on type, the electric car charger market can be segmented into AC charger, DC charger, and wireless charger. Based on end-user, the electric car charger market can be segmented into residential and commercial. Based on geography, the electric car charger market can be segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. Asia Pacific and North America are expected to be highly attractive regions for the electric car charger market owing to supportive regulations and subsidies offered by the government to reduce the dependence on oil and fuels and encourage electric car chargers in the region.

Prominent players operating in the electric car charger market include ABB Ltd. , Leviton Manufacturing Co., Inc., Evatran, LLC, Siemens AG, Tesla Motors Inc., Delphi Automotive Plc., Schneider Electric Corp, AeroVironment, Inc., Bosch Automotive Service Solutions Inc., and Elektromotive Ltd.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

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