Global Electric Vehicle Charging Stations Equipment Market

The electric bikes and scooters market consists of sales of electric bikes and scooters and related services. The main types in the electric bikes and scooters market are electric bikes, electric scooters. An electric bike is a bicycle equipped with an electric motor that is activated to assist with or replace pedaling. The battery types involved are lead-acid, lithium-ion (li-ion), nickel-metal hydride (NiMH), and others. The voltage capacity involved is 48-59V, 60-72V, 73-96V, above 96V. The drive mechanism types involved are hub motor, mid-drive, and other mechanisms. The global electric bikes and scooters market size is expected to grow from $20.71 billion in 2021 to $23.38 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The global electric bike, scooter market size is expected to grow to $30.27 billion in 2026 at a CAGR of 6.7%. Increasing awareness about pollution is a key driver of the electric bikes and scooters market. This is because more people are now understanding the importance of reducing pollution, and this awareness has led them to look for more environmentally friendly modes of transportation that minimize and control pollution. For example, according to a survey published by Forbes in 2019, due to an increase in awareness about pollution, the sales of electric bikes (e-bikes) have exceeded that of non-electric bikes in the Netherlands. The growth in the adoption of electric bikes and scooters is expected to continue in the coming years as the carbon dioxide emitted by the burning of fossil fuels remains a major threat to the environment, causing global warming and climate change. The lack of infrastructure for battery charging is a major restraint on the electric bikes and scooters market. This is mainly because a lack of sufficient bike or scooter charging stations leads to a scarcity of battery charging, and discourages people from purchasing electric bikes or scooters.For instance, according to express drive data 2021, electric two-wheelers, are popular in India. However, the sales of electric two-wheelers remain way lower than conventional petrol ones. We don’t have an appropriate EV ecosystem and the charging stations are in very few numbers. So, in a bid to encourage people to buy EVs and to develop the EV ecosystem in India, eBikeGo has announced that they will install one lakh smart IoT-enabled charging stations in seven Indian cities. Improving battery technology is an emerging trend in the electric bikes and scooters market. One such technological improvement of batteries includes the growing use of graphene batteries in electric bikes and scooters. The graphene batteries use electrolytes based on a super-thin material called graphene, which enables faster charging time, higher capacity, and lighter weight of the vehicles. In this regard, Earthday, a startup based in Barcelona, Spain is working towards further enhancing the efficiency of graphene batteries, to charge electric bikes and scooters in around five minutes. The electric bikes and scooters market is regulated by the U.S. Congress enacted Public Law sections 107-319. This law pertains to the amendments required for the consumer product safety act and defines stern regulations to be followed retrospect to the speed of electric bikes. According to this law, the electric motor of the vehicle must be less than 750 watts and the maximum speed of the bike driven by a person weighing 170 pounds should not exceed 20 mph. To comply with this law, the U.S. Consumer Product Safety Commission (CPSC) considers, approves, and certifies bikes that meet this definition for manufacture and sale at the federal level. Hence, regulations such as these regulate the electric bikes and scooters market. In March 2019, German automotive and industrial supplier Schaeffler acquired Elmotec Statomat GmbH for an undisclosed amount. Through this acquisition, Schaeffler aims to develop and advance more quickly and efficiently in the electric motors construction business, and at the same time, boost its e-mobility strategy. Elmotec Statomat GmbH is involved in the field of electric motors construction and winding technology. It was founded in 1998 and is headquartered in Karben, Germany. Major players in the electric bikes and scooters market are Yadea, Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., BMW, Hero Electric, Yamaha, Sunra, Vmoto Limited, AIMA Technology Co. Ltd, Zhejiang Luyuan Electric Vehicle Co. Ltd., Terra Motors Group, Prodeco Technologies Llc. Asia Pacific was the largest region in the electric scooters and ebikes market in 2021. This region is expected to remain the largest during the next five years. The regions covered in the global electric bike and scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric bikes and scooters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global ebikes and scooters market is segmented - 1) By Product: Electric Bikes, Electric Scooters 2) By Battery: Lead-Acid, Lithium-Ion (Li-ion), Nickel-Metal Hydride (NiMH), Others 3) By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V 4) By Drive Mechanism: Hub Motor, Mid Drive, Others

The electric car market consists of electric car sales and services related to it. An electric car is an electric vehicle that runs by a chargeable battery such as Nickel-Metal Hydride (Ni-MH) Battery, Lithium-ion Battery, Fuel Cell Battery. The main types in the electric cars market are battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), hybrid electric vehicles (HEV). Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The battery types involved are lithium-iron-phosphate (LFP), lithium-nickel-manganese cobalt oxide (Li-NMC), lithium-titanate oxide (LTO) battery, lithium-nickel-cobalt-aluminum oxide (NCA) battery, nickel-metal hydride (NiMH) battery, lead-acid battery. The applications involved are home use, commercial use. The global electric cars market size is expected to grow from $212.46 billion in 2021 to $278.75 billion in 2022 at a compound annual growth rate (CAGR) of 31.2%. The global electric cars market is then expected to grow to $825.95 billion in 2026 at a CAGR of 31.2%. The growing demand for electric vehicles is driving the electric cars market. Electric cars are one of the fastest-growing segments in the electric vehicles market. According to the InsideEVs report (Electric vehicle world sales database), in 2019 nearly 2.2 million electric vehicles were sold globally. According to Forbes, Electric vehicles (EVs) will surge to 57% which is more than half of global passenger car sales by 2040. The major companies in the automobile industry such as Tesla, BMW, Volkswagen, and others are expected to release around 200 models of electric vehicles. Electric vehicles don’t use fuel or gas and they are more economical than other vehicles. The demand for an electric vehicle is growing because of its low maintenance, less carbon emission, convenient charging, less noise from the engine, higher fuel costs. Lack of standardization of charging infrastructure is slowing down the electric cars market. The charging infrastructure is a charging point for Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), Fuel Cell Electric Vehicles (FCEV) available in every region. According to McKinsey’s report, there will be an estimated 120 million electric vehicle units on road by 2030. The demand for electric vehicles is rising due to environmental concerns and health Hazards. The sudden shift to electric vehicles in many regions leads to a lack of charging infrastructure. Tesla, Mahindra, Audi, and other international OEMs are expected to launch 10 new electric vehicle models in 2021 in India. However, many countries don’t have proper charging infrastructure for electric vehicles due to higher up-front capital, higher operating costs, and currently low utilization of electric vehicles. This factor is likely to challenge the growth of this market. The development of wireless charging facilities for electric vehicles is the greatest opportunity for both OEMs and end-users. Wireless charging enables charging of an electric vehicle without any inconvenience of finding the right cable connector at the charging point, and/or stopping by at any charging station. Wireless charging uses dynamic and inductive charging technologies where the electricity is transferred from one magnetic coil in the charger to a second magnetic coil connected to a car. Tesla, BMW, Rolls Royce, Volkswagen, Nissan, etc. are working on wireless charging system cars because the OEMs and technology companies figured out that it is much easier to charge an electric vehicle by wireless charging system than a plug-in system. Qualcomm's technologies, continuously working on its wireless charging system called Qualcomm Halo that uses dynamic technology which helps to charge the electric vehicle while driving. Therefore the wireless charging system has a huge scope in the future to electrify vehicles all over the world. In February 2019, Tesla, Inc., an American electric vehicle and clean energy company based in Palo Alto (California) acquired Maxwell technologies an Energy storage company for a deal of $218 million. Maxwell technologies produce ultracapacitors an energy storage device or battery that is used in electric vehicles. The acquisition helped Tesla to get Maxwell’s dry electrode technology which is mainly used to produce ultracapacitors. These dry electrode technology ultracapacitors are used in electric vehicles to boost performance and are also more cost-effective than other technologies. Major players in the electric cars market are Toyota, BMW, BYD, Tesla, BMW, Volkswagen, General Motors, BAiC Motors, SAIC, and Daimler AG. Asia Pacific was the largest region in the electric cars market in 2021. Western Europe was the second largest market in the global electric cars market. The regions covered in the global electric car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric cars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global electric cars market is segmented - 1) By Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) 2) By Battery Type: Lithium-Iron-Phosphate (LFP), Lithium-Nickel-Manganese Cobalt Oxide (Li-NMC), Lithium-Titanate oxide (LTO) battery, Lithium-Nickel-Cobalt-Aluminum oxide (NCA) battery, Nickel-Metal hydride (NiMH) battery, Lead Acid Battery 3) By Application: Home Use, Commercial Use

The electric vehicle charging station 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 EVs. The main types of installations in electric vehicle charging stations are home charging system and commercial charging system. Home chargers are typically employed with 230V/15A single phase plugs capable of producing up to 2.5 KW of output power. The different connector types include CHAdeMO, CCS, GB/T, tesla supercharger, others and has various charging modes such as plug in charging system, wireless charging system. The several charging stations include AC charging station and DC charging station. The global electric vehicle charging stations market size is expected to grow from $4.03 billion in 2021 to $5.40 billion in 2022 at a compound annual growth rate (CAGR) of 34.1%. The growth in the market 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 stations market is expected to reach $17.85 billion in 2026 at a CAGR of 34.9%. Increasing tax incentives and subsidies given to local automakers to produce electric vehicles is driving the demand for electric vehicle (EV) charging station market. Tax incentives and subsidies to the electric vehicle makers is encouraging auto makers to make more Electric vehicle which will generate more demand for EV charging stations. China's subsidy policy caused 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 limited range of electric vehicles is hindering the Electric vehicle (EV) charging stations market growth. Electric vehicles have a limited range as compared to the traditional internal combustion engine vehicles as due to its limited battery capacity. The electric vehicles can’t be used in case of long-distance travel, this causes the slow growth of the electric vehicles. According to a survey conducted by BBC, involves a sample of 10,293 drivers out of which 76% of the drivers said that in a single charge electric vehicle can't travel long distances. Companies in the industry are increasingly offering ultra-quick charging capabilities of the direct current (DC) to aid performance optimization and ultra-fast-charge. The ultra-quick charging technologies of the direct current are used in electric vehicle charging stations to transfer current to electric vehicles through DC. DC fast charging or level 3 charging is capable of charging 80% of the electric vehicle battery within 20 minutes. DC fast charging stations with ultra-quick technology provide high-power DC current up to 120 kW directly into vehicle’s battery without passing through any onboard AC/DC converter. The necessary conversion from AC to DC by a convertor done in case of AC charging process can be eliminated. In March 2019, Tesla an American automotive and energy company, launched the next generation super charger V3 with a higher charging capacity (250kW). Greenlots, an electric transportation company, has set plans to deploy 9 DC Fast charging stations across Central Washington. Electrify America, an electric vehicle charging network company, installed its first DC Faster charger at Massachusetts, USA and is planning to invest $500 million to outfit the electric charging stations in 484 locations with 2000 DC fast chargers. In August 2021, ChargePoint Inc., a US based electric vehicle infrastructure company acquired ViriCiti BV for $88 million (€75 million) in cash. The acquisition of ViriCiti will provide the firm with access to a much broader software feature set for users, including battery health monitoring, vehicle operations data, and enhanced vehicle telematics possibilities, in addition to ChargePoint’s core offerings of charger management and vehicle charger scheduling. ViriCiti BV is a Netherlands based company that provides electric vehicle charging solution. In March 2020, ABB, a Switzerland based automation company acquired Shanghai Chargedot New Energy Technology Co., Ltd. for an undisclosed amount. The acquisition is expected to further strengthen ABB's relationship with leading Chinese electric vehicle manufacturers and broaden the company’s e-mobility portfolio with hardware and software developed specifically for local requirements as well as service offerings. Shanghai Chargedot New Energy Technology Co., Ltd., a Chinese e-mobility solution provider, the company supplies AC and DC charging stations, as well as the necessary software platform to a range of customers that includes EV manufacturers. Major players in the electric vehicle charging station market are Tesla, Chargepoint, Siemens, ClipperCreek, Schneider electric, Eaton, GE, ABB, Aerovironment, SemaConnect, Robert Bosch GmbH, ECOtality, Engie, BP, Shell, Electromotive, Chargemaster, Evgo, EVBox, G2Mobility, Leviton, Delta ElectronicsInc, Evatran group Inc, Tgood, Delphi automotive LLP, Webasto Group, Alfen, Allego, Blink Charging and Efacec. The regions covered in the electric vehicle charging stations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electric vehicle charging station market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric vehicle charging stations market is segmented - 1) By Installation Type: Home Charging System, Commercial Charging System 2) By Connector Type: CHAdeMO, CCS, GB/T, Tesla Supercharger, Others 3) By Mode of Charging: Plug In Charging System, Wireless Charging System 4) By Charging Station: AC Charging Station, DC Charging Station

The electric vehicle fluids market consists of sales of electric vehicle fluids by entities (organizations, sole traders, and partnerships) that aid in the reduction of energy losses in the drivetrain system and the enhancement of EV Transmission efficiency. Electric vehicle fluids offer insulation to stop any arcing due to close contact with the electrical components of the vehicle. They help in cooling e-motors and gears and provide insulation to electric current, along with extending the lifetime of each electric motor part, and the mileage of EVs by improving machine efficiency. The main type of products includes engine oils, coolants, transmission fluids, and greases. Engine oils are used in keeping the engine cool and ensuring that the piston rings in the IC engine are sealed properly. The different vehicle types include passenger vehicles commercial vehicles and involve various EV types such as BEV, PHEV, HEV. It is used in the driveline, battery coolant, and grease. The global electric vehicle fluids market size is expected to grow from $1.04 billion in 2021 to $1.32 billion in 2022 at a compound annual growth rate (CAGR) of 27.1%. The change in the electric vehicle fluids market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The electric vehicle fluids market is expected to reach $3.39 billion in 2026 at a CAGR of 26.5%. Increasing demand for electric vehicles is expected to propel the growth of the electric vehicle fluids market. An electric vehicle (EV) is a vehicle that runs entirely or partially on electricity and stores the electrical energy that drives the motor in a battery pack. The increase in electric vehicle manufacturing and sales drives the demand for electric vehicle fluids because fluid is the key part of a vehicle that enhances fuel efficiency and assist to reduce carbon footprints in vehicles. For instance, according to the International Energy Agency, in 2020 the global electric car stock hit the 10 million mark, a 43% increase over 2019. Also, according to Bloomberg New Energy Finance (BNEF), EVs are expected to hit 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040. Therefore, the increasing demand for electric vehicles is predicted to drive the growth of the electric vehicle fluids market. Increasing research and development is shaping the electric vehicle fluids market. Research and development in the market are done for the development, introduction, and optimization of products and processes. For instance, in 2021, Gulf Oil, an India-based manufacturer of automobile lubricants and greases company launched a new range of e-fluids for Hybrid and Electric (EV) passenger cars. These e-fluids are formulated to enhance the performance and safety of the vehicle along with other applications including improving braking performance and preventing corrosion, while eLEC coolant keeps electric vehicle batteries cool in high temperatures. In May 2021, Castrol, a UK-based manufacturer of lubricating oils, greases, automatic transmission fluids, and other related products for automobile and electric vehicles, has partnered with XING Mobility to develop XING Mobility’s immersion cooling battery technology for electric vehicles. Castrol and XING partnered to increase battery system performance and optimize fluid and hardware systems for more efficient results. XING Mobility is a China-based EV battery company. Major players in the electric vehicle fluids market are Castrol Limited, ExxonMobil Corporation, FUCHS Lubricants, Lubrizol Corporation, Petronas Nasional Bhd, Royal Dutch Shell plc, Gulf Oil, BP plc, ENEOS Corporation, PTT Public Company Limited, Repsol S.A, TotalEnergies SE, Valvoline Inc, and Shell. Europe was the largest region in the electric vehicles fluids market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the EV fluids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric vehicle fluids market is segmented - 1) By Product Type: Engine Oil, Coolants, Transmission Fluids, Greases 2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle 3) By EV Type: BEV, PHEV, HEV 4) By Application: Driveline, Battery Coolant, Grease

The electric vehicles batteries market consists of sales of electric vehicles batteries. Electric vehicles batteries are used to power the electronic vehicles and are rechargeable in nature. These batteries support the clean energy initiative as they don’t emit any harmful gases which causes damage to the environment. The main types of battery used in electric vehicles are lithium-ion, lead-acid, nickel-metal hydride, sodium-ion and others. The lithium-ion are used in electric vehicles for safer and more stable movement than liquid li-ion batteries. The electric vehicles batteries are used two types of vehicles such as passenger and commercial vehicles and available in two types of propulsion such as battery electric vehicle and plug-in hybrid electric vehicle. The global electric vehicles batteries market size is expected grow from $23.74 billion in 2021 to $25.43 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The growth in the market 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 batteries market is expected to reach $33.26 billion in 2026 at a CAGR of 6.9%. Advances in electric vehicles (EV) batteries and their associated technologies are attracting the interests of individuals to purchase EVs, contributing to the growth of the EV batteries. Recent advancements such as lithium-ion batteries, fast charging, and better mileage have helped the electric cars become more passenger-friendly. According to the United States Department of Energy, the range of average electric car have increased from 73 miles in 2011 to 400 miles in 2021. Moreover, the technological developments are contributing to reduced prices of the electronic batteries. According to the Bloomberg report, battery prices that were above USD 1,100 in 2010 have fallen by 87% to $156 per kilowatt-hour in 2019 and is likely to decline to $100 per kilowatt-hour by the end of 2023. Therefore, the advances in electronic battery and its associated technologies increase the vehicles mileage and draws more customers driving the electronic battery market. The extraction of raw materials like lithium cobalt used in the electric vehicle battery has a harmful effect on the environment and governments impose restriction on mining the raw materials, hindering the growth of the market. The extraction process of one ton of lithium requires 50,000 gallons of water. Lithium mining has resulted in consumption of 65% water of the Salar de Atacama region, Chile, which has led to water shortages in Chile, South America along with severe toxic spills. As the demand upsurges, the mining activity also rises with increasing damage to the environment and will force the governments to enforce stringent regulation to curb the negative effects which would increase the production cost. Therefore, the harmful effect of electric vehicle batteries on the environment is expected to be a hindrance to the electric vehicle battery market over the coming years. The charging of Electric vehicle batteries using Vehicle to grid technology is expected to gain traction in EV batteries Market. Vehicle to grid technology is a Bi-directional charging system technology in which plug-in electric vehicles like battery electric vehicles (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicles (FCEV) batteries’ can communicate with the power grid for either returning electricity to the grid, to homes during the peak times or increase their charging rate to discharge and charge the battery accordingly. For instance, in January 2021, FCA along with Engie EPS and Terna has launched the first phase of a vehicle-to-grid (V2G) pilot project in Turin, Italy, to test potential connections of the company’s vehicles to the grid. Thus, Vehicle to grid technology is anticipated to be a major trend in the electric battery market. In May 2019, Tesla, the American based clean energy and electric vehicle company have acquired San-Diego based batteries and ultra-capacitor maker Maxwell technologies for $235.0 million. This Deal gives Tesla access to the patented technology of Maxwell - the dry cathode technology, which would allow Tesla to develop its own set of battery cells with high density and durability. Maxwell technologies are considered to be the pioneers in the area of super capacitors, their dry battery electrode technology is projected to improve the battery energy capacity by 50.0%, which in effect will double the battery life. Major players in the electric vehicles batteries market are Panasonic Corporation, Mitsubishi Motors Corporation, Beijing Pride New Energy Battery Technology Co. Ltd, Automotive Energy Supply Corporation, BYD Company Ltd, Daimler AG, Robert Bosch GmbH, SAMSUNG SDI CO, Tianneng Power International Co. Ltd, and Johnson Controls. Asia Pacific was the largest region in the electric vehicles batteries market in 2021. Western Europe was the second-largest region in the electric vehicles battery market. The regions covered in the EV batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electric vehicles batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric vehicle (EV) batteries market is segmented - 1) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Metal Hydride, Sodium-Ion, Others 2) By Vehicle Type: Passenger Vehicles, Commercial Vehicles 3) By Propulsion: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV)

The electric vehicle charger market consists of sales of electric vehicle chargers that deliver energy to the vehicle battery system per unit of time. The electric vehicle charger is a part of electric vehicle supply equipment that provides electrical power to plug-in electric automobiles. Electric vehicle charging is divided into four stages, with Level 4 being the fastest. The main types of vehicles in electric vehicle chargers are battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV) and hybrid electric vehicles (HEV). Battery electric vehicles employ an electric motor instead of an internal combustion engine. Battery electric vehicles use a traction battery pack to power the electric motor that needs to be plugged into the charging outlet. The different charging types include on-board chargers, off-board chargers and are used in various end-use sectors such as residential and commercial end-users. The global electric vehicle charger market size is expected to grow from $3.94 billion in 2021 to $5.19 billion in 2022 at a compound annual growth rate (CAGR) of 32.0%. The change in the EV charger market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $13.36 billion in 2026 at a CAGR of 26.6%. The increasing stringent regulations by the governments to limit environmental pollution are contributing to the growth of the electric vehicle charger market. Many governments have implemented stringent government regulations to limit harmful vehicular emissions, making it vital for vehicle manufacturers to shift to advanced technologies that reduce vehicle emission levels. For instance, the California Air Resources Board passed new laws in 2020 that require truck manufacturers to switch to electric zero-emission trucks by 2024, and Governor Brown signed an MOU with 14 other states to develop and expedite the market for electric medium- and heavy-duty vehicles. Therefore, the rising stringent regulations by the governments are projected to drive the growth of the electric charger market in the coming years. The growing technological advancements are shaping the electric vehicle charger market. Major companies operating in the electric vehicle charger sector are focused on developing technological solutions for electric vehicle chargers to reduce carbon emissions and meet customer demand. For instance, in April 2021, Envision Group, a China-based green technology company introduced Mochi charging robot which is 100% powered by green electricity. Mochi is a small, flexible robot with accurate location-sensing technology that allows it to navigate with centimeter-level precision. Mochi can be installed in a variety of settings and can automatically locate and charge electric vehicles, saving drivers time and effort. Mochi will give a versatile solution to help accommodate the growing demand for charging stations as more EVs hit the road. In March 2021, Eaton Corporation, a US-based power management company acquired Green Motion SA for an undisclosed amount. Through this acquisition, Eaton Corporation expands its electric vehicle charging capabilities. Green Motion SA is a Switzerland-based company that manufactures electric vehicle charging hardware and related software. Major players in the electric vehicle charger market are ABB Ltd., AeroVironment Inc., ChargePoint Inc., BP Chargemaster, Evatran Group Inc., Leviton, Webasto SE, Eaton, Schneider Electric, and Siemens Asia Pacific was the largest region in the electric vehicle charger market in 2021. The regions covered in the electric vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the EV charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global electric vehicle charger market is segmented - 1) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) 2) By Charging Type: On-Board Chargers, Off-Board Chargers 3) By End-User: Residential, Commercial

The electric car chargers market consists of sales of electric-car chargers by entities (organizations, sole traders and partnerships) that manufacture electric-car chargers. The charging point for electric vehicles is a device that links an electric vehicle (EV) to a source of electricity for electric cars, community electric vehicles and plug-in hybrids. The main types of electric car chargers are slow AC, fast AC, and fast DC. Slow AC charging is widely used in multi-dwelling structures, residences and fleet charging sites where cars have enough time to charge. The car takes about 5-8 hours to fully charge. The AC is converted to DC and fed directly into the battery by a converter. Electric car chargers are used in battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV) and hybrid electric vehicles (HEV). The various charging infrastructures involved are CCS, CHADEMO, Normal Charge, Tesla Super Charger and Type 2 (IEC 621196). The electric chargers are used in different areas including homes, offices, and other commercial areas. The global electric car charger market size is expected to grow from $2.96 billion in 2021 to $3.98 billion in 2022 at a compound annual growth rate (CAGR) of 34.3%. The change in the electric car charger market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $13.30 billion in 2026 at a CAGR of 35.2%. The increasing demand for electric vehicles owing to growing environmental awareness is expected to drive the growth of the electric car charger market over the coming years. The world is moving towards electrified transportation to reduce the emissions of pollution from non-renewable fossil fuel vehicles and to offer transport with a substitute to costly fuel. According to EV-Volumes, a database of sales statistics, charging infrastructure, batteries, car models, and sales forecasts for plug-in cars, the number of plug-in vehicles that were sold in 2020 reached 3.24 million from 2.26 million in 2019. Therefore, the increasing sales of electric vehicles drive the growth of the electric car charger market. The impact of COVID-19 hampered the growth of the electric car charger market. The global automotive sector is experiencing a decline due to the lockdown in many nations, which has limited the growth of electric vehicles. For instance, in Germany, new registrations for electric cars decreased by 35% in the first quarter of 2020 compared to the same timeframe in 2019. Therefore, the outbreak of COVID-19 restrained the growth of the electric car charger market. The growing technological advancements are shaping the electric car charger market. Major companies operating in the electric car charger sector are focusing on developing technologically advanced solutions for electric car chargers. For instance, in February 2020, the Bengaluru-based start-up, Kirana Charzer, has launched an electric vehicle charger that can be mounted in small stores and businesses to accelerate the expansion of the electric vehicle charging network in the region. Kirana Charzer can be operated by any user on the Charzer application to deliver public EV charging and generate income via their charging point. In November 2021, Enphase Energy, a America-based energy technology company announced the acquisition of acquired ClipperCreek for au undisclosed amount. With this acquisition, Enphase will be able to enter the EV charging market and offer bi-directional charging, as well as vehicle-to-home and vehicle-to-grid applications. ClipperCreek is a US-based provider of electric vehicle (EV) charging solutions for residential and commercial customers. Major players in the electric car charger market are Leviton Manufacturing Co. Inc, ABB Ltd., Siemens AG, Schneider Electric Corp, AeroVironment Inc., Eaton, Evatran LLC, Tesla Motors Inc., Delphi Automotive Plc., and Bosch Automotive Service Solutions Inc. Asia Pacific was the largest region in the electric car charger market in 2021. The regions covered in the electric car chargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the electric car charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global electric car charger market is segmented - 1) By Type: Slow AC, Fast AC, Fast DC 2) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) 3) By Charging Infrastructure Type: CCS, CHADEMO, Normal Charge, Tesla Super Charger, Type 2 (IEC 621196) 4) By Application: Home, Office, Commercial