According to a recent report published by Allied Market Research,
titled, Electric Vehicle Chargers Market by Vehicle Type,
Charging Type, and End User: Global Opportunity Analysis and
Industry Forecast, 2017-2023, the global electric vehicle
chargers market was valued at $163 billion in 2016, and is
projected to reach at $1,786 billion by 2023, growing at a CAGR
of 37.5% from 2017 to 2023.
Asia-Pacific dominates this market presently, followed by North
America.
In 2016, China dominated the market in Asia-Pacific; similarly,
the UK led the overall market in the European region. The U.S. is
dominating the market in North America presently.
Government regulations regarding the use of electric vehicles to
curb the environmental pollution drives the demand for electric
vehicles, which boosts the market. Further, rise in demand for
electric vehicles is also expected to fuel the market growth.
However, high price of such electric vehicles and lack of
presence EV chargers at public places is anticipated to hinder
the growth of the market.
In 2016, the on-board chargers segment dominates the global
electric vehicle chargers in charging type segment, in terms of
revenue. However, based on vehicle type, hybrid electric vehicle
led the global market followed, by plug-in hybrid electric
vehicle in 2016.
Commercial users segment led the electric vehicle chargers market
by end user in 2016. However, residential users segment is
anticipated to depict highest CAGR throughout the forecast
period.
Key Findings of the Electric Vehicle Chargers Market:
On-board chargers generated the highest revenue of the global
electric vehicle chargers market in 2016.
In 2016, the hybrid electric vehicle type generated the highest
revenue among the electric vehicle chargers market.
Asia-Pacific is anticipated to exhibit a highest CAGR during the
forecast period.
In 2016, the commercial end user segment contributed the highest
market shares in the electric vehicles chargers market.
The key players profiled in the report include ABB Ltd., Robert
Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE,
Aerovironment Inc., Silicon Laboratories, Chargemaster PLC,
Schaffner Holdings AG, and POD Point.
