Electric Vehicle Charging Stations Equipment Global Market Report 2023 – By Type (AC Charging, DC Charging, Inductive Charging), By Vechile Type (Battery Electric Vehicles (BEV), PlugIn Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV)), By Charging Type (Level One Charging (120 Volts), Level Two Charging (240 Volts), DC Fast Charging (480 Volts)) – Market Size, Trends, And Global Forecast 2023-2032

Commercial electric vehicles are electrically powered, self-propelled electric vehicles used for transportation that help reduce greenhouse gas emissions (GHG) and pollution and work with the help of both electric motors working in tandem. The main technologies in commercial electric vehicles are battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. 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 vehicle types involved are buses, trucks, pick-up trucks, and vans. The charging infrastructure involved is pantograph, plug-in, and inductive. The global commercial electric vehicles market is segmented - 1) By Technology: Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles 2) By Vehicle: Bus, Truck, Pick-Up Truck, Van 3) By Charging Infrastructure: Pantograph, Plug-in, Inductive The global commercial electric vehicles market size grew from $88.45 billion in 2022 to $116.95 billion in 2023 at a compound annual growth rate (CAGR) of 32.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of the commercial electric vehicles market is expected to grow from $357.44 billion in 2027 at a CAGR of 32.2%. Government subsidies to consumers and manufacturers help with the adoption of electric vehicles. The adoption of electric vehicles has been identified as an effective method to reduce carbon emissions and dependency on fossil fuels. So, the governments of many countries are providing direct subsidies to both buyers and manufacturers to increase the adoption rate of electric vehicles. For example, in order to make electric vehicles (EVs) accessible to all Americans for both short- and long-distance travel, the federal government has set the 2030 target of having half of all new vehicles sold in the country be zero-emissions vehicles. It has also committed to developing a practical and equitable network of 500,000 chargers. Major players in the commercial electric vehicle market report are Tesla, Nissan, BMW, Chevrolet, Ford, Volkswagen, Kia Motors, Audi, BYD, and Daimler. The difference in vehicle performance acts as a restraint on the growth of the commercial electric vehicle market. Electric vehicles provide excellent torque at low speeds, but at higher speeds, the performance drops. The range of current battery electric vehicles (BEVs) is typically 50 to 100 miles. For example, the Nissan LEAF electric vehicle has high torque (236 lb-ft) but relatively low power at 147 hp. The conventional fuel car Honda S2000, on the other hand, has a respectable 256 hp. Technological advances to improve charging speed and enhance battery design are the latest trend in the commercial electric vehicle market. Manufacturers are looking at solid-state batteries that use graphene as the potential solution and are expected to increase both the range and the charging speed of the batteries in electric vehicles. Apart from the improvements in battery design and charging speed, there will be a significant shift toward diversifying the sources of power for EVs. Solar panels have already become much more efficient at capturing the sun’s energy. With the recent development of three-phase charging, the most modern electric vehicles can charge up to 80% in just 30 minutes. For instance, Earthday, a Catalan startup, introduced fast-charging graphene-based batteries that weigh only 55 kg and use a paste-like electrolyte based on graphene. Earthday claims that the graphene-based battery charges up to 1350 times faster than normal batteries based on lithium technology. In Europe, the parliament mandates the installation of appropriate vehicle alerting systems in electric vehicles. Electric cars and plug-in hybrid cars such as the all-electric BMWi3 or the Toyota Prius currently emit very little sound when running on electric power only. Campaigners say this is dangerous for partially sighted and blind people. Keeping this in mind, liberal democratic MEPs introduced an amendment that makes it mandatory to install a vehicle alerting system in electric vehicles. In June 2021, Ashok Leyland, a company manufacturing automotives based in India, acquired Switch Mobility Automotive for an undisclosed amount. Ashok Leyland expands its commercial electric vehicle portfolio and makes an investment in Switch Mobility, acquiring all of the company's shares. Switch Mobility Automotive is a company operating commercial electric vehicles based in the UK. Asia-Pacific was the largest region in the commercial electric vehicles market in 2022. The regions covered in the commercial electric vehicles market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the commercial electric vehicles market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia. The commercial electric vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The commercial electric vehicles market research report is one of a series of new reports from The Business Research Company that provides commercial electric vehicle market statistics, including commercial electric vehicle industry global market size, regional shares, competitors with a commercial electric vehicle market share, detailed commercial electric vehicle market segments, commercial electric vehicles market trends and opportunities, and any further data you may need to thrive in the commercial electric vehicle industry. This commercial electric vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A passenger electric vehicle is a road motor vehicle that runs on electricity and is used to transport people and has a maximum seating capacity of nine people (including the driver). The main types in the passenger electric vehicle market are battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. 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 vehicle types involved are sedans, hatchbacks, and SUVs. The charging infrastructure involved is normal charging and high power charging. The global passenger electric vehicles market is segmented – 1) By Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle 2) By Vehicle Type: Sedan, Hatchback, SUV 3) By Charging Infrastructure: Normal Charging, High Power Charging The global passenger electric vehicles market grew from $278.75 billion in 2022 to $365.72 billion in 2023 at a compound annual growth rate (CAGR) of 31.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global passenger electric vehicles is expected to grow from $1,083.65 billion in 2027 at a CAGR of 31.2%. The rising concerns about environmental factors, including global warming and climate change, are increasing the demand for electric vehicles and, subsequently, driving the passenger electric vehicle market. Due to rising environmental concerns, more people have been shifting to alternate modes of transport that cause less pollution. This has resulted in a substantial increase in the purchase of electric vehicles across the globe. Electric vehicles are one of the most sustainable modes of transportation as they do not emit climate-damaging greenhouse gases or health-harming nitrogen oxide. They are also relatively quieter and easier to operate. For instance, according to data by UNICEF, according to the Intergovernmental Panel on Climate Change (IPCC), the level of carbon dioxide in the atmosphere will be cut by 45 percent by 2030 to prevent global warming above 1.5oC and the threshold at which the worst impacts of climate change could be averted. These factors are expected to boost the demand for electric vehicles and drive the passenger electric vehicles market demand going forward. Major players in the passenger electric vehicles market are Tesla Motors Inc., BMW AG, Nissan Motor Corporation, Ford Motor Company and Toyota Motor Corporation, Tesla Motors, Inc., BMW AG, Nissan Motor Corporation, Ford Motor Company, Toyota Motor Corporation, Volkswagen AG, General Motors Company, Daimler AG, and Mitsubishi Motors Corporation. Battery capacity and drainage challenges are significant challenges that are restraining the growth of the passenger electric vehicles market. The capacity of lithium-ion batteries, which are generally used in electric cars, decreases with the increase in the number of cycles of charging and discharging. An electronic vehicle's battery can be damaged due to high temperatures, overcharging, low voltages, and high charge current. There is also a risk of battery drainage while in the middle of the journey, which would leave the driver with no other alternative source of fuel or power where there is no electric charging station. For example, a report published in Economic Times (Auto) suggested that the electric cars made by Mahindra performed poorly, and their battery capacity was not up to the required levels. The models tested could not even run 80-82 km on a single charge. These issues with batteries are limiting the use of electric vehicles, thus restraining the growth of the passenger electric vehicles market. Companies in the passenger electric vehicles market are focusing on the development of technologies to increase the range of the vehicles. Automobile manufacturers have increased the battery range of their electric models by an average of 38 miles, which is equivalent to a cumulative 15% increase on average every year. Other developments include fluoride-ion batteries, which have higher performance compared to currently used lithium-ion batteries. The fluoride-ion batteries have greater energy density and are more eco-friendly than the current lithium-ion technology. With this new battery technology, an EV could go further on a pack of the same physical size or the same distance with a physically smaller battery pack, thus improving the range of the vehicle. Honda has already invested in the same and is working along with CalTech and NASA's Jet Propulsion Laboratory on this technology. The passenger electric vehicles market in Europe is governed by WP.29 of the UNECE (United Nations Economic Commission for Europe) Vehicle Regulations, which contribute to mobility electrification. WP. 29 specifies certain regulations that are required for assessing electric vehicles before commercializing them. This assessment is done in respect of safety standards and environmental performance of electric vehicles, hybrid electric vehicles, and fuel cell vehicles. This regulation also covers the risks relating to electric shocks and fire explosions due to the battery. Various testing procedures are undertaken by the concerned regulatory bodies to evaluate the environmental efficiency of these vehicles. In June 2022, Club Car, a US-based manufacturer and global leader in golf, consumer, and utility vehicles, acquired Garia A/S for an undisclosed amount. Through this acquisition, Club Car will expand in low-speed electric vehicles. Garia A/S is a Denmark-based manufacturer of electric vehicles for the utility, consumer and golf markets. Asia-Pacific was the largest region in the passenger electric vehicles market in 2022. This region is expected to remain the largest during the next five years. The regions covered in the passenger electric vehicles industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the passenger electric vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The passenger electric vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The passenger electric vehicles market research report is one of a series of new reports from The Business Research Company that provides passenger electric vehicles market statistics, including passenger electric vehicles industry global market size, regional shares, competitors with a passenger electric vehicles market share, detailed passenger electric vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the passenger electric vehicles industry. This passenger electric vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electric vehicle charging station equipment refers to equipment that connects an electric vehicle to an electricity source to recharge the vehicle. The type of electric vehicle charging station equipment is AC charging, DC charging, and inductive charging that are used in different vehicle types such as battery electric vehicles (BEV), plug-in electric vehicles (PHEV), and hybrid electric vehicles (HEV). The AC charging converts power from AC to DC and then feeds it into the car’s battery. Different types of charging in electric vehicle charging stations equipment equipment are level one charging (120 volts), level two charging (240 volts), and DC fast charging (480 volts). The global electric vehicle charging stations equipment equipment market is segmented – 1) By Type: AC Charging, DC Charging, Inductive Charging 2) By Vehicle Type: Battery Electric Vehicles (BEV), Plug-In Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV) 3) By Charging Type: Level One Charging (120 Volts), Level Two Charging (240 Volts), DC Fast Charging (480 Volts) The global electric vehicle charging stations equipment market size grew from $5.4 billion in 2022 to $7.3 billion in 2023 at a compound annual growth rate (CAGR) of 35.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global electric vehicle charging stations equipment is expected to grow from $23.25 billion in 2027 at a CAGR of 33.6%. National and international legislative policies for promoting the electric vehicle (EV) are driving the growth of the electric vehicle charging stations equipment equipment market. The scheme to provide incentives to motivate investors in buying electric vehicles and installing the EV charging stations help in driving the electric vehicle charging stations equipment market. This helps in boosting the electric vehicle charging stations equipment equipment market. For example, an attractive scheme was launched by the German government to provide a direct discount of $4,520 for EV buyers. Also, public funding for charging stations for every 50 km is provided in Norway. Thus, driving the EV charging stations market, thereby driving the electric vehicle charging stations equipment equipment market. Major players in the electric vehicle charging stations equipment equipment market are ABB Ltd., Siemens AG, The New Motion BV, Tesla Motors Inc., ClipperCreekInc., DBT SA, Chargemaster PLC., Engie SA, Fortum Oyj, and Leviton Manufacturing Co. The limited driving range of electric vehicles (EV) is one of the major factors restraining the EV market thereby affecting the growth of the electric vehicle charging stations equipment equipment market. The driving range of EVs is shorter than that of gasoline vehicles. This limitation is due to various factors such as passenger capacity, use of air conditioning and the need for margin to be retained before the next recharge. This, affects the sales of EV which is thereby decreasing the need for setting up more charging power stations, and the requirement for the EV charging stations equipment falls, therefore restraining the market growth. Ultra-quick DC charge stations are trending in the electric vehicle charging stations equipment market. Ultra-quick DC charge helps in supplying direct power of up to 125 KW to the vehicles without any converter. These ultra-quick DC charge stations can charge 80% of the electric supply required for the vehicles within 20 min period. With the increasing demand for EVs, the need for more charging stations is increasing. To cope with the demand and availability of low-energy charging points and to deal with new upcoming EVs that require high power rates for charging, the ultra-quick DC charge station is the solution. There are 3 types of DC fast charging options such as Combined Charging System (CCS), CHAdeMO, and Tesla Supercharger. For example, in 2021, Electrify America opens 600 public ultra-fast electric vehicle charging stations equipment across the United States. In June 2022, Blink Charging Co., a US-based provider of electric vehicle (EV) charging equipment and services acquired SemaConnect for an undisclosed amount. With this purchase, Blink Charging will be the only EV charging business to provide total vertical integration, encompassing everything from EV charger ownership and operations to R&D and production. SemaConnect Inc. is a US-based company operating in EV charging infrastructure solutions. Asia Pacific was the largest region in the electric vehicle charging stations equipment equipment market in 2022. The regions covered in the global electric vehicle charging stations equipment equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle charging stations equipment equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle charging stations equipment equipment market consists of sales of alternating current(AC) charging, direct current(DC) charging, and other electric vehicle charging station equipment. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric vehicle charging stations equipment equipment market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charging stations equipment equipment market statistics, including electric vehicle charging stations equipment equipment industry global market size, regional shares, competitors with an electric vehicle charging stations equipment equipment market share, detailed electric vehicle charging stations equipment equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charging stations equipment equipment industry. This electric vehicle charging stations equipment equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric car charger refers to equipment that supplies power for an electric car. 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. The fast AC charger can recharge small electric vehicles fully in three to four hours. Fast DC chargers convert AC power to DC within the charging station and deliver DC power directly to the battery and hence charge faster. It has various charging type such as on-board charger and off-board Charger, that are used in different areas including homes, offices, and other commercial areas. The global electric car chargers market is segmented - 1) By Type: Slow AC, Fast AC, Fast DC 2) By Charging Type: On-board Charger, Off-board Charger 3) By Application: Home, Office, Commercial The global electric car chargers market size grew from $4.03 billion in 2022 to $5.54 billion in 2023 at a compound annual growth rate (CAGR) of 37.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The electric car chargers market size is expected to grow to $18.49 billion in 2027 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 chargers 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 as a substitute for costly fuel. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing sales of electric vehicles drive the growth of the electric car chargers market. Major players in the electric car chargers market are Leviton Manufacturing Co. Inc., ABB Ltd., Siemens AG, Schneider Electric Corp, AeroVironment Inc., Eaton, Evatran LLC, Tesla Motors Inc., Delphi Automotive PLC., Bosch Automotive Service Solutions Inc., Elektromotive Ltd., Hubbell Device-Kellems, Legrand, TurboDock, GE, Chargepoint, and Blink. The impact of COVID-19 hampered the growth of the electric car chargers 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 chargers market. The growing technological advancements are shaping the electric car chargers 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, 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 June 2022, Schneider Electric, a France-based company that specializes in digital automation and energy management, acquired EV Connect, Inc. for an undisclosed amount. Schneider Electric's acquisition of EV Connect will allow the company to accelerate its growth alongside the present management team. EV Connect Inc. is a US-based provider of electric charging solution. Asia-Pacific was the largest region in the electric car chargers market in 2022. The regions covered in the electric car chargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric car chargers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric car chargers market consists of sales of slow alternating current (AC) electric-car chargers, fast alternating current (AC) electric-car chargers, and fast direct current (DC) electric-car chargers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric car chargers market research report is one of a series of new reports from The Business Research Company that provides electric car chargers market statistics, including electric car chargers industry global market size, regional shares, competitors with a electric car chargers market share, detailed electric car chargers market segments, market trends and opportunities, and any further data you may need to thrive in the electric car chargers industry. This electric car chargers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

An electric vehicle charger is defined as a charger that delivers energy to the vehicle battery system per unit of time. It is a part of electric vehicle supply equipment that provides electrical power to plug-in electric automobiles. 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, commercial. 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 global electric vehicle charger market size grew from $5.26 billion in 2022 to $6.98 billion in 2023 at a compound annual growth rate (CAGR) of 32.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The electric vehicle charger market size is expected to grow to $17.81 billion in 2027 at a CAGR of 26.4%. 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. 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, Siemens, Electricite de France SA, POD Point, Schaffner Holdings AG, IES Synergy, and Efacec. 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. Asia-Pacific was the largest region in the electric vehicle charger market in 2022. The regions covered in the electric vehicle charger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle charger market consists of sales of on-board electric vehicle chargers and off-board electric vehicle chargers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric vehicle charger market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charger market statistics, including electric vehicle charger industry global market size, regional shares, competitors with a electric vehicle charger market share, detailed electric vehicle charger market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charger industry. This electric vehicle charger market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Wireless charging refers to the transfer of power from a power outlet to the device without the need for a connecting cable. It uses electromagnetic induction to transfer energy from the charger to a receiver. The charger has an induction coil to generate an alternating electromagnetic field, which the receiver coil converts back into electricity and supplies into the battery. The main components of wireless charging are transmitters and receivers. Transmitters refer to the charging station that transfers energy and it remains connected to an outlet. The transmitter is used to boost overall efficiency and safeguard the wireless charging system completely. Inductive charging, resonant charging and radio frequency-based charging are the technologies used in wireless charging with short, medium and long transmission ranges. Wireless charging is used in consumer electronics, automotive, healthcare, industrial, defense and others. The global wireless charging market is segmented - 1) By Components: Transmitters, Receivers 2) By Technology: Inductive Charging, Resonant Charging, Radio Frequency Based Charging, Other Technologies 3) By Transmission Range: Short Range, Medium Range, Long Range 4) By Application: Consumer Electronics, Automotive, Healthcare, Industrial, Defense, Other Applications The global wireless charging market size will grow from $12.43 billion in 2022 to $16.34 billion in 2023 at a compound annual growth rate (CAGR) of 31.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the wireless charging is expected to grow to $48.24 billion in 2027 at a CAGR of 31.1%. The increasing sale of smartphones is expected to propel the growth of the wireless charging market. Smartphone devices feature a built-in computer that provides various features such as an operating system, web browsing, and the capacity to run software programs. Wireless chargers offer convenience and increased durability to smart device users, making them a popular choice amongst customers. According to Counterpoint Research, a Hong Kong-based research firm specializing in mobile & technology products, would smartphone sales have totaled for $448 billion in revenues for 2021, an increase of 7% compared to the values for 2020. Also, according to Gartner Inc., a US-based consulting firm, in March 2022, worldwide smartphone sales grew 6% in 2021, from 1,351,836.5 (Thousands of Units) in 2020 to 1,433,859.4 in 2021. Therefore, the increase in sales of smartphones will drive the wireless charging market growth. Major players in the wireless charging market are Convenient Power HK Limited, Energizer Holdings Inc., Sony Corporation, Leggett & Platt, Murata Manufacturing Co Ltd., Qualcomm Incorporated, Samsung, Powermat Technologies, Fulton Innovation LLC, Renesas Electronics Corporation, Witricity Corporation, TDK Corporation, Infineon Technologies, Anker, Evatran LLC and Xiaomi. Technological innovation is a key trend gaining popularity in the wireless charging market. Major companies operating in the wireless charging market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation wireless charging technologies into their products, such as electromagnetic induction, automation, radio frequency waves, near field waves, capacitive wireless technology, and others, to enhance the charging speed and usability. For instance, in April 2021, Xiaomi (Mi), a China-based consumer electronics company, introduced a new charging system - Mi Air Charge Technology. It enables users to charge electronic devices remotely without the necessity of wires or wireless charging stands. Its phase control array composed of 144 antennas transmits millimeter-wide waves directly to the phone through beamforming. In June 2022, Siemens, a Germany-based industrial manufacturing company, acquired WiTricity for $25 million. With this acquisition, Siemens and WiTricity will work to drive innovation in the emerging wireless EV charging industry and significantly narrow the gap in wireless charging for electric passenger and light-duty commercial vehicles. Witricity is a US-based wireless charging technology company. North America was the largest region in the wireless charging market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless charging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the wireless charging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The wireless charging market includes revenues earned by entities by providing electricity to portable devices without the need for a connecting cable. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The wireless charging market research report is one of a series of new reports from The Business Research Company that provides wireless charging market statistics, including wireless charging industry global market size, regional shares, competitors with a wireless charging market share, detailed wireless charging market segments, market trends and opportunities, and any further data you may need to thrive in the wireless charging industry. This wireless charging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

An electric vehicle is a self-propelled vehicle that is powered by an electric motor and uses electrical charging to transport passengers and goods while reducing harmful air pollution from exhaust emissions. The electric vehicles are used as environmentally friendly vehicles as they use little or no combustion fuels (petrol, diesel. or gas). The main types of electric vehicles are battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. A battery electric vehicle refers to a vehicle that operates solely on the use of a battery or battery pack that stores energy produced by the electric motor or through regenerative braking to assist in vehicle operation. The different vehicle types include two-wheelers, passenger cars, and commercial vehicles, and involve several charging types, such as slow charging and fast charging. The power outputs are less than 100 kW, 100 kW to 250 kW, and more than 250 kW. The end-users involved are private and commercial fleets. The global electric vehicle market is segmented – 1) By Type: Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Fuel Cell Electric Vehicle 2) By Vehicle Type: Two-Wheelers, Passenger Cars, Commercial Vehicles 3) By Charging Type: Slow Charging, Fast Charging 4) By Power Output: Less Than 100 kW, 100 kW To 250 kW, More Than 250 kW 5) By End Use: Private, Commercial Fleets The global electric vehicle market size will grow from $248.05 billion in 2022 to $316.19 billion in 2023 at a compound annual growth rate (CAGR) of 27.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global electric vehicle is expected to grow to $793.69 billion in 2027 at a CAGR of 25.9%. Strict government regulations on vehicle emissions are expected to propel the growth of the electric vehicle market going forward. The governments across various countries are taking some regulatory steps toward reducing harmful gas emissions from vehicles. Electric vehicles are eco-friendly vehicles that do not contribute to greenhouse gas emissions. For instance, in December 2021, the Environmental Protection Agency (EPA) finalized greenhouse gas emissions standards for passenger cars and light trucks for model years 2023–2026. These regulations include the standards to achieve significant greenhouse gas emissions reductions. Therefore, strict government regulations on vehicle emissions will propel the growth of the electric vehicle market. Major players in the electric vehicle market are Volkswagen, Ford Motor Company, Toyota Motor Corporation, General Motors Company, BYD Company motors, BMW Group, Nissan Motors Co Ltd., Tesla Inc., Hyundai Motor Company, Daimler AG, Groupe Renault, SAIC Motor Corporation Limited, Honda Motor Co, Kia Motors Corporation, TATA Motors Limited, Mahindra and Mahindra, Geely Automobile Holdings Limited, and Chevrolet. Technological advancements are the key trends gaining popularity in the electric vehicle market. Major companies operating in the electric vehicle market are focused on developing new technological solutions to strengthen their position. For instance, in February 2022, QuantumScape, a US-based renewable energy company, is developing solid battery technology to extend the range of electric vehicles and allow them to recharge more quickly. QuantumScape conducted its tests, and the results showed that the solid-state batteries completed 400 consecutive 15-minute (4C) fast-charge cycles successfully from 10% to 80% capacity. In May 2020, Ola Electric, an India-based electric two-wheeler company, acquired Etergo for an undisclosed amount. Through this acquisition, Ola Electric expands its portfolio of electric engineering and design capabilities in the EV segment, and the company also plans to launch its range of electric two-wheelers. Etergo is a Netherlands-based manufacturer of electric scooters. Asia-Pacific was the largest region in the electric vehicle market in 2022. The regions covered in the electric vehicle market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle market consists of sales of hybrid electric vehicle (HEV) and all electric vehicles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric vehicles market research report is one of a series of new reports from The Business Research Company that provides electric vehicle market statistics, including electric vehicle industry global market size, regional shares, competitors with an electric vehicle market share, detailed electric vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle industry. This electric vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Transportation Manufacturing Market Characteristics