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Airport Electric Vehicle Charging Station Market Trend
OREGAON, PORTLAND, UNITED STATES , September 19, 2023/EINPresswire/ -- Allied Market Research published a report, titled, "Airport Electric Vehicle Charging Station Market by Mode of charging (Plug-in charging, Wireless charging), by Charging level (Level 2, Level 3), by Product Type (Standing Type, Wall Mounted Type, Wireless Pad): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global airport electric vehicle charging station industry generated $0.18 billion in 2021, and is anticipated to generate $1.4 billion by 2031, witnessing a CAGR of 23.3% from 2022 to 2031.
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Prime determinants of growth
Surge in the production of electric vehicles and a rise in the adoption of electric vehicles, owing to government initiatives drive the growth of the global airport electric vehicle charging station market . However, the high cost of electric vehicle charging infrastructure, and the lack of standardization of current EV charging infrastructure restrict the market growth. Moreover, the incorporation of vehicle-to-grid (V2G) EV charging stations presents new opportunities in the coming years.
The plug-in charging segment to maintain its leadership status throughout the forecast period
Based on mode of charging, the plug-in charging segment held the highest market share in 2021, accounting for more than four-fifths of the global airport electric vehicle charging station market size, and is estimated to maintain its leadership status throughout the forecast period. This is because key players in the electric vehicle charging station are launching new EV fast-charging hubs for airports, which can work with all kinds of electric cars. However, the wireless charging segment is projected to manifest the highest CAGR of 26.5% from 2022 to 2031, as countries are focusing on introducing wireless electric car charging stations for electric buses in their airports.
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Lost Of Key Companies:
✱Blink Charging Co.,
✱Delta Electronics, Inc.,
✱General Electric Company,
✱Plugless Power Inc.,
✱Ningbo Dekon New Energy Co., Ltd.
The Level 2 segment to maintain its leadership status throughout the forecast period
Based on charging level, the level 2 segment held the highest market share in 2021, accounting for more than two-thirds of the global airport electric vehicle charging station market, and is estimated to maintain its leadership status throughout the forecast period. This type of charging equipment is compatible with all plug-in electric vehicles and electric vehicles and takes around 4-6 hours to fully charge a completely depleted battery. However, the level 3 segment is projected to manifest the highest CAGR of 25.2% from 2022 to 2031. It is the fastest type of charging available and can charge an electric vehicle at a rate of 3-20 miles per minute.
The standing type segment to maintain its lead position during the forecast period
Based on product type, the standing type segment accounted for the largest share in 2021, contributing to more than half of the global airport electric vehicle charging station market, and is projected to maintain its lead position during the forecast period. This is because standing-type EV charging stations come with long cables and also provide a wide output voltage range. However, the wireless pad segment is expected to portray the largest CAGR of 25.6% from 2022 to 2031, attributed to its ability to carry and store cables which typically avoids the risk associated with wires pertaining to wear and tear over time.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the global airport EV charging station market due to widespread disruptions in global supply chains, economic activity, and production shutdowns. However, the pandemic's impact on the automotive industry with the growing vaccination numbers globally is expected to come down gradually over the span of a couple of years. The post-pandemic demand for electric vehicle charging system-backed solutions is expected to grow appreciably as they offer superior comfort and safety to vehicles.
North America dominates the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global airport electric vehicle charging station market share in 2021 and is expected to grow at a significant rate during the forecast period, due to leading automobile manufacturers planning the deployment of huge EV charging infrastructure at airports in many countries of the region.
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Furthermore, Europe is the second largest airport electric vehicle charging station market due to technological advancements in charging stations and growth in vehicle standards across Europe such as strict emission limits. Moreover, airports in the UK are introducing charging stations for electric vehicles to promote the adoption of an EV in the country. For instance, in February 2022, London City Airport launched its first electric vehicle charging station to encourage staff and passengers to travel more sustainably.
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