Huge Growth And Opportunities in Global Electric Vehicle Battery Charger Market Till 2025
The electric vehicle battery charger can transfer electricity from the electric grid and charge the battery of electric vehicles. The new research report about the global electric vehicle battery charger market published by Market Research Future (MRFR) foretells breakthrough for this market at 14.3% CAGR between 2019 and 2025.
Chief factors driving the global electric vehicle battery charger market growth include increasing awareness about the impact of gasoline vehicles on the environment, government initiatives & regulations to save the environment, and rising demand for electric vehicles.
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Market Segmentation
The global electric vehicle battery charger market segmentation covers application, electric vehicle type, and level of charging. MRFR is analyzing the features of these segments to understand market trends.
The application-based segmentation of this market covers the private vehicle and public transport. The private vehicle segment is expected to witness substantial growth.
By electric vehicle type, the market is being segmented into battery electric vehicle and plug-in hybrid electric vehicle. The hybrid electric vehicles have strong market traction.
Regarding the level of charging, the market has been segmented into Level 1 charge, Level 2 charge, and Level 3 charge.
Regional Segmentation
The regional segmentation of the global electric vehicle battery charger market covers Asia Pacific, North America, Europe, and Rest of the World (RoW).
The Asia Pacific region is the largest regional market due to the affordable prices of electric vehicles, charging stations, stringent government policies, and increasing government initiatives. In this region, China is the largest country-specific market. China is trying to increase its use as well as sales in its country. Other major revenue contributors in this region are India and Japan. Other countries of the Asia Pacific region are also contributing significant revenue to the market.
In North America, the market is significant due to the established automotive sector, government regulations regarding carbon emissions, presence of key market players in the United States of America (USA), high disposable income, and awareness among people about electric vehicles causing lesser environmental pollution than fuel-based vehicles. Canada is the second most important revenue-generating market
In Europe, most of the reasons for market growth are same as in North America. The primal country-specific markets in this region are France, Germany, Italy, and the UK.
The RoW segment covers Latin America and the Middle East & Africa (MEA). In both of these regions, the market is small due to the limited availability of technology. Comparing to the MEA region, Latin America is a bigger regional market.
Key Players
Major players in the global electric vehicle battery charger market include Baccus Global LLC (USA), Clore Automotive LLC (USA), CTEK Holding AB (Sweden), Current Ways Inc. (USA), Delphi Automotive LLP (Ireland), Ficosa Internacional SA (Spain), IES Synergy (France), Lear Corporation (USA), LG Electronics (South Korea), MetaSystems S.P.A (Italy), Robert Bosch GmbH (Germany), Schumacher Electric Corporation (USA), and Tesla (USA).
Latest Industry News
India’s largest mobile tower company Indus Towers Ltd. has decided to utilize its vast base of telecom towers to charge electric vehicles to tap into this fledgling industry and appear in the market as an overall infrastructure provider. 17 JUL 2019
Reacting to the 2019 Union Budget of India, Tesla is considering India as a potential market for its electric cars. 13 JUL 2019
Inspired by Tesla, Coimbatore-based Gugu Energy is working to develop its two-wheelers as electric vehicles. 17 JUL 2019
The UK government is to introduce legislation very soon that makes the installation of electric vehicle charging points, mandatory for in all new housing in England. The new law aims to achieve net-zero carbon emissions by 2050. 15 JUL 2019
Hero Electric, one of the largest electric scooter manufacturers in India is planning to expand its manufacturing capacity from 100,000 units per annum at present to 500,000 units as the demand for electric two-wheelers likely to rise in the coming years. 15 JUL 2019
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