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Global Electric Vehicle Charging Station Market Outlook and Forecasted Analysis Through 2025
The global electric vehicle charging station market is therefore expected to showcase an exponential CAGR of 30.8% between 2017 and 2025. At this pace, the market’s valuation will reach US$37.48 bn by the end of 2025.

BriefingWire.com, 5/18/2018 - The market for Electric Vehicle Charging Station Market growing with the expansion of this Industry Sector Worldwide. Market Research Report Search Engine (MRRSE) has added a new report titled “Electric Vehicle Charging Station Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025”which offer details about the current trends as well as scope for the near future. This research study also covers information about the production and market share based on different active regions. Furthermore, an anticipated growth at a double-digit CAGR for the concerned Electric Vehicle Charging Station Market is highlighted in the report which indicates a prosperous future.

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An electric vehicle charging station is a component or an infrastructure which supplies electric energy to the electric vehicles for recharging of batteries at home or at public spaces. It provides energy to plug-in electric vehicles which includes electric cars and plug-in hybrids. An electric charging station is also known as electric vehicle supply equipment (EVSE). Charging equipment can be differentiated on the basis of charging time and the usage.  

In the last few years, the demand for electric vehicle charging stations has accelerated in response to the increased sales of electric vehicles (EV). Besides the growing awareness about benefits these vehicles provide, the market is gaining from favorable government policies. For instance, governments have introduced various subsidies to promote the sales of electric vehicles. These may include road tax exemption. Also manufacturers are working on lowering their production cost to offer advanced models of electric vehicles under a reasonable price tag. While these strategies are aimed towards promoting EV sales, the electric vehicle charging station market will as well gain from them.  

The global electric vehicle charging station market is therefore expected to showcase an exponential CAGR of 30.8% between 2017 and 2025. At this pace, the market’s valuation will reach US$37.48 bn by the end of 2025. 

Level 2 Charging Stations Emerge as More Popular Choice among Consumers

In terms of end-use, the market is classified into government, public space and municipalities (parks and street), commercial office space, healthcare, retail, hospitality, residential, logistics and transportation (fleet services), education, and others. Of these, the residential sector emerged dominant in 2016. By the end of 2017, it is expected to hold over 41.6% of the market. As the rate of sales of EVs across the household sector increases, the demand for charging stations to be installed at residences is likely to rise in response. While the commercial office space and retail segments are anticipated to generate higher revenue in the coming years, it won’t be easy for them to outpace the residential sector.  

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The electric vehicle charging stations market can be broadly classified under technology, end-use application, and geography. Based on technology, the market is segmented into level 1, level 2, and level 3. Of these, the adoption of level 2 charging stations has been the highest in the last few years.

 
 
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