The global market for charging stations for electric vehicles will grow by an average of 29% until 2027

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The global market for charging stations for electric vehicles will grow by an average of 29% until 2027

The global market for charging stations for electric vehicles may grow by more than 29% for years 2019-2027. The future growth of the world market of charging stations for electric vehicles for the key players: Schneider Electric, Eaton Corporation PLC, Engie SA, the ABB Group.

According to Absolute Markets Insights, it is expected that the global market for charging stations for electric vehicles will grow by more than 29% in average for years 2019-2027. It is expected that growth of electric car sales, thanks to the initiatives of the government in respect of lucrative subsidies and tax incentives will stimulate the global market for charging stations for electric vehicles throughout the forecast period. Minimal costs for operation, maintenance and improvement of consumer awareness about the environmental benefits even more incentives for consumers to use electric vehicles, which also increases the demand on the market of charging stations for electric vehicles. Moreover, the rising price of fuel encourages people to choose more energy-efficient alternatives. The price of oil will rise over the forecast period, which will accelerate market demand for electric vehicles and charging stations for electric vehicles. These factors continually accelerate the market growth of charging stations for electric vehicles.

Charging station for electric vehicles DC are the largest segment. Charging station for electric vehicles DC require a minimum time for charging of electric vehicles compared with charging stations for electric cars AC. Segment charging stations for electric vehicles Level 2 amounted to a maximum share of the market in 2018, because it is compatible with all types of electric vehicles. Type fast charger DC CHAdeMO, which was in the lead and the same all over the world, is now actively replaced by European standard CCS Combo (Type 1/Type 2).

In the Asia-Pacific region probably will experience the fastest growth in demand on the charging station ??for electric cars in the years 2019-2027.

In the market of charging stations for electric vehicles is dominated by a number of players, among which the main ones are of the Schneider Electric, Eaton Corporation PLC, Engie SA, the ABB Group and General Electric Company. These companies in the industry adhere to different types of strategies to strengthen their own position in the market. It is expected that these players will invest more in research and development of new products. Thus, manufacturers are likely to cooperate with consumers in the industry of electric vehicles, in search of new innovative products.

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