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The report focuses on current and future trends in the Electric Vehicle Infrastructures industry marking well for the global market in the coming years.
NEWARK, UNITED STATES, September 27, 2022 / / -- The global electric vehicle infrastructures market is expected to grow from USD 18,464.59 million in 2021 to USD 289,554.07 Million by 2030, at a CAGR of 38.7% during the forecast period 2022-2030. Electric vehicles integrate numerous infrastructure market components like high investment costs, Network effects, economies of scale, and low marginal costs. Scandinavian cities like Oslo and others offer free access to taxi and bus lanes for electric vehicles. Many countries, like Germany and Poland, provide assistance and tax incentives to EV buyers. Moreover, some European nations planned to ban the sales of new fossil fuel-powered automobiles. The initiative, a part of a USD 3.4 billion strategy in the UK, would encourage the local government to retrofit the buses, alter roads and modify traffic light patterns to decrease emissions and enhance efficiency.
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Market Growth & Trends
Many technology giants, automaker organizations, and start-up specialist companies have invested around USD 50 Billion in the last five years in developing autonomous vehicles and their technology. Based on one of the studies, EV sales in the US have increased by more than 40% yearly since 2016. The narrow network of charging stations is likely preventing several prospective buyers. In reaction, the Bipartisan Infrastructure Law (BIL) proposes USD 7.5 Billion to design US EV-charging infrastructure. The purpose is to establish around 500,000 public chargers compatible with vehicles and technologies across the US by 2030. These factors are propelling the growth of the market.
Key Findings
The Chademo segment held the largest market share of 49.14% in 2021.
The charging infrastructure segment is divided into CCS, Chademo, and others. The Chademo segment held the largest market share of 49.14% in 2021. The inter-city commuting requires more fast chargers at stop-overs on the highways.
The Level 2 (240 V) segment held the largest market share of 52.30% in 2021.
The charging level segment includes Level 1 (120 V), Level 2 (240 V), and Level 3 (200V-600V). The Level 2 (240 V) segment held the largest market share of 52.30% in 2021. For all-electric and plug-in electric hybrid vehicles, Level 2 charging equipment is compatible. It has a cord that can be plugged straight into the car in the same connector spot utilized for Level 1 equipment.
The electric passenger cars segment held the largest market share of 62.35% in 2021.
The vehicle type segment includes electric bikes, electric passenger cars, and commercial electric vehicles. The electric passenger cars segment held the largest market share of 62.35% in 2021. The federal government has set the target that around half of the new passenger cars and light trucks sold in 2030 should be ZEVs, the category which includes both battery-electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) that can be recharged with electricity and fuel cell electric vehicle (FCEVs) that run on hydrogen.
The commercial segment held the largest market share of 82.92% in 2021.
The application segment includes commercial and residential. The commercial segment held the largest market share of 82.92% in 2021. The energy major BP claimed that the EV fast chargers would become more beneficial than petrol pumps. BP plans to extend its EV charging business in the forthcoming years from 11,000 to 70,000 charging points by 2030.
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Regional Segment Analysis of the Electric Vehicle Infrastructures Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and the Rest of South America)
The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia-Pacific was the largest in the global market, with a market share of 42.61% in 2021. The favorable government policies & support like the subsidies & grants, tax rebates, and other non-financial benefits like carpool lane access and new car registrations, especially in China, where ICE vehicle registrations are banned in some the urban areas, are some of the factors propelling the market.
Key players operating in the global Electric Vehicle Infrastructures market are:
Siemens
Tesla inc.
Schneider ELECTRIC
ABB Ltd
Webasto
Chargepoint Holdings, Inc.
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About the report:
The global electric vehicle infrastructures market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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