Plug-in Electric Vehicle Battery Charging Market is anticipated to grow at a CAGR of ~35.0% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Plug-in Electric Vehicle Battery Charging - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Plug-in Electric Vehicle Battery Charging market accounted for over US$ 3.0 billion by 2019. The market is anticipated to grow at a CAGR of ~35.0% from 2019 to 2030.
The global plug-in electric vehicle battery charging market is driven by factors such as large scale production of electric vehicles, and technological advancements in battery & car manufacturing. Moreover, increasing awareness regarding the impact of gasoline vehicles on the environment and government initiatives to support the adoption of electric vehicles to reduce the emission of greenhouse gases are other factors driving the market growth. For instance, the government of Japan prepared a policy for electric vehicles aimed toward better cooperation and smooth transition in the automotive industry. By 2025, battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs) are estimated to account for around 30% of the total vehicle sale worldwide.
In several countries, governments have proposed subsidy programs to promote the use of electric vehicles and supportive policies for the installation of battery charging infrastructure.
However, the high cost of electric vehicles and its charging infrastructure, lack of standardization in charging plugs, the development of wireless charging systems, and battery swapping options are affecting market growth adversely.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, 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 in detail along with the table of contents:https://www.marketindustryreports.com/plug-in-electric-vehicle-battery-chargingm-market/278
Asia Pacific region is the largest market for the plug-in electric vehicle battery charging and is anticipated to grow at the highest CAGR during the forecast period. The market growth in APAC can be attributed to the high demand for electric & hybrid electric vehicles, large-scale production of electric vehicles, and government initiatives to support the adoption of electric vehicles.
Some of the prominent players present 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.
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