Plug-in Electric Vehicle Battery Charging Market by Charger Type (AC Charger and DC Charger), Connector (CCS and CHAdeMO), End-Use (Private and Commercial) - Analysis & Forecast 2019-2030

Report ID : 278  |  Published Date : Jun 2020  |  Pages : 160  |  Region : Global  |  Report Code : AT-12





Plug-in Electric Vehicle Battery Charging Market Introduction and Overview

Plug-in electric vehicle battery charging systems are used to charge the batteries of electric vehicles and hybrid plug-in electric vehicles by connecting such vehicles to an external source of electricity. In 2018, over 5 million electric & hybrid electric cars were sold worldwide with an increase of 63% from the previous year. There were approximately 5.2 million charging points for plug-in electric vehicles and most of these were for private use. China, the U.S., Japan and the European countries are focusing on the adoption of electric vehicles and building better battery charging infrastructure to reduce toxic emissions.

Plug-in Electric Vehicle Battery Charging Market

The global plug-in electric vehicle market is driven by factors, such as enhancements in battery technology, rising investments in the development of fast charging systems and the large-scale acceptance of electric and plug-in hybrid vehicles. Moreover, increasing awareness regarding the environmental impacts of fossil fuel vehicles, and government initiatives aimed toward replacing fossil fuel vehicles with electric vehicles in coming future will also propel market growth during the forecast period. However, the high cost of electric vehicles & electric vehicle charging infrastructure and battery swapping options are affecting market growth adversely.

The global plug-in electric vehicle battery charging market can be segmented by charger type, connector, end-use and regions.

Plug-in Electric Vehicle Battery Charging Market By Charger Type

Based on charger type, the global plug-in electric vehicle battery charging market can be segmented into AC chargers and DC chargers. The DC chargers segment is anticipated to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the faster charging through DC chargers. Electric vehicle manufacturers, including Tesla, are introducing vehicles that are compatible with DC charging systems.

Plug-in Electric Vehicle Battery Charging Market By Connector

Based on connector, the plug-in electric vehicle battery charging market can be segmented into CCS, CHAdeMO, and others. The CHAdeMO connector is dominating the market worldwide and is anticipated to grow at the highest CAGR in the coming years. The growth of this segment can be attributed to high adoption rates in the Asia Pacific region and advantages offered by these connectors over the bi-directional flow of power and other counterparts.

Plug-in Electric Vehicle Battery Charging Market By End-Use

Based on end-use, the global plug-in electric vehicle battery charging market can be segmented into private and commercial. The private segment dominated the market whereas the commercial segment is anticipated to grow at the highest CAGR during the forecast period. The growth of this segment is owing to the adoption of DC chargers for commercial use and government initiatives aimed toward improving the plug-in electric vehicle battery charging infrastructure in several countries.

Plug-in Electric Vehicle Battery Charging Market By Region

Based on region, the global market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific is the largest market for plug-in electric vehicle battery charging systems and is expected to grow at the highest growth rate during the forecast period. The rising demand for electric vehicles, extensive EVs production in the region, and the growing potential consumer base in the region are expected to drive market growth in the coming years.

Plug-in Electric Vehicle Battery Charging Market Prominent Players

Some of the prominent players in the plug-in electric vehicle battery charging market include Tesla, ChargePoint, Inc, Bosch Automotive Service Solutions Inc, Delphi Technologies, Siemens, Eaton, Leviton Manufacturing Co., Inc., Schneider Electric, GENERAL ELECTRIC, and Baccus Global LLC, among others.