The Business Research Company’s Electric Vehicle Charging Stations Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, April 19, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Increasing tax incentives and subsidies given to local automakers to produce electric vehicles is driving the demand for the electric vehicle (EV) charging station market. Tax incentives and subsidies to electric vehicle makers is encouraging auto makers to make more electric vehicles, which will generate more demand for EV charging stations and thus the EV charging market. China’s subsidy policy caused a 53% increase in the manufacture and sale of electric vehicles in the country. Electric vehicles sales in China was almost four times the numbers sold in the USA. The growth in sales in China is majorly attributed to the subsidy policies and tax incentives given by the Chinese government.
The electric vehicle charging infrastructure market consist of sales of electric vehicle charging services. Electric vehicle charging stations provides charging facility to electric vehicles through alternating current (AC) and direct current (DC) charging. AC charging station consists of level 1 and level 2 charging. Level 1 charging station uses 120V AC current, level 2 Charging station uses 240V AC current to charge the vehicles. Whereas the DC charging station, also known as Level 3 charging station, uses 480V DC current to charge the EVs.
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The global electric vehicle charging stations market is expected to grow from $5.8 billion in 2020 to $6.79 billion in 2021 at a compound annual growth rate (CAGR) of 17.1%. According to electric vehicle charging stations market analysis , the growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The EV charging station market size is expected to reach $20.49 billion in 2025 at a CAGR of 31.8%.
The electric vehicle charging stations market covered in this report is segmented by installation type into home charging system, commercial charging system. The electric vehicle charging station market is also segmented by connector type into chademo, CCS, GB/T, tesla supercharger, others; by mode of charging into plug in charging system, wireless charging system; by charging station into AC charging station, DC charging station.
Major players in the electric vehicle charging station market are Tesla, Chargepoint, Siemens, ClipperCreek and Schneider Electric.
Electric Vehicle Charging Stations Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides EV charging stations market overview, forecast electric vehicle charging stations market size and growth for the whole market, electric vehicle charging stations market segments, and geographies, electric vehicle charging stations market trends, EV charging stations market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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