Electric Vehicle Charging Stations Market include ABB, Shell, ChargePoint, Tesla (US), and BYD dominate the electric vehicle charging station market (China)
— Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 13, 2023 /EINPresswire.com/ — According to a Comprehensive Research Report by Exactitude Consultancy, “Electric Vehicle Charging Stations Market by Charger Type (Fast, Slow/Moderate), By Application (Commercial, Residential) and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2021 to 2028”, The market for Electric Vehicle Charging Stations to anticipate a rise from USD 20 billion in 2021 to USD 110 billion by 2028, at 21% CAGR over the Forecast Period (From 2023 to 2028).
An electric vehicle (EV) can be recharged by connecting it to an electrical source via an electric vehicle charging station, also known as an EV charging point. The infrastructure required for power delivery as well as Electric Vehicle Supply Equipment (EVSE) make up the station. There are three primary charging station capacities: DC rapid charging (Level 1), Level 2, and Level 3. These can be wall-mounted or pedestal-mounted devices that are utilized in offices, retail spaces, public areas, residential complexes, and private homes.
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Recent Developments
• In January 2023, ABB E-mobility revealed its innovative Terra Home charging solution at CES 2023, the world’s foremost technology event held in Las Vegas. It is set to be available for purchase around mid-2023. With its unique design, Terra Home empowers users to optimize their renewable energy usage, ultimately reducing their carbon impact.
• In November 2022, ABB formed a strategic alliance with Tallarna Ltd. to expand its user-friendly energy management technologies offerings. The solution leverages AI-powered data analytics to make it easier to undertake decarbonization projects for large real estate portfolios and energy infrastructure. The platform provides a one-stop-shop for customers, showcasing energy optimization options, performance insurance, and third-party financing options.
Electric Vehicle Charging Stations Market Competitive Landscape:
The major vendors in the Electric Vehicle Charging Stations industry are
• ABB (Switzerland)
• Shell (Netherlands)
• ChargePoint (US)
• Tesla (US)
• BYD dominate (China)
Some Points On How the Report Benefits Stakeholders:
• The Electric Vehicle Charging Stations Market reports include historical (2018–2020) and forecast (2022–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
• The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
• Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
• The Electric Vehicle Charging Stations Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
• The report contains company profiles of the top companies operating in the Electric Vehicle Charging Stations market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
• Electric Vehicle Charging Stations Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
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Market Dynamics
Drivers
Growing adoption of vehicle-to-grid electric vehicle charging station
A technology known as “vehicle-to-grid electric vehicle charging” allows plug-in electric cars and the power grid to exchange electrical energy back and forth. Vehicle-to-grid technology allows electric cars to store extra energy and release it back into the grid. As a result, the electrical component may operate better and electric cars may be worth more.
Increasing Sustainability
We can demonstrate to clients and prospective employers that you are contributing to sustainability and reducing emissions by installing charging stations. The easiest thing the corporation could do to move forward with its environmental plan is probably to install EV charging stations. If you want to include EV charging in your company’s sustainability plan, selecting a smart EV charging infrastructure is easy. A common feature of smart EV charging is dashboards.
Restraints
Stringent government regulations
A few of governments have implemented stringent laws controlling the locations of charging stations. There are criteria that service providers need to follow while installing charging stations. They require approval from plot owners, local governments for regulatory demands, and utility companies for energy transmission when the installation is on private property.
Lack of Vehicle-grid Interoperability
More agreements, logistics, and channels of communication between the grid, utilities, and charging manufacturers are needed. The situation has been hampered by the difficulty to come to an agreement on the widespread deployment of an affordable, dependable, and secure network for drivers to charge their electric vehicles. The vehicle-to-grid infrastructure has made it possible for certain procedures and technologies, which are dependent on all of these partners. This usually happens as a result of the government or energy companies hiding information that would otherwise not be given to the charging network providers. This frequently causes the project’s profitability to decline and development time to slow down.
Frequently Asked Questions
• What was the impact of covid-19 on Electric Vehicle Charging Stations Market?
• What was the market value in 2022?
• Which region is a high share of the Electric Vehicle Charging Stations Market?
• What are the opportunities in Electric Vehicle Charging Stations Market?
• What is the forecast period of the Electric Vehicle Charging Stations Market?
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Article originally published on www.einpresswire.com as Electric Vehicle Charging Stations Market Projected to Rise USD 110 billion, at a 21% CAGR from 2021 to 2028
