Overview and Scope
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.
Sizing and Forecast
The electric vehicle charger market size has grown exponentially in recent years. It will grow from <b>$6.79 billion in 2023 to $8.67 billion in 2024 at a compound annual growth rate (CAGR) of 27.7%. </b> The growth in the historic period can be attributed to electric vehicle (ev) adoption and sales growth, government incentives and regulations, environmental concerns and emissions reduction goals, consumer demand for convenient charging, and automotive industry investment in evs
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The electric vehicle charger market size is expected to see exponential growth in the next few years. It will grow to <b>$21.85 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. </b> The growth in the forecast period can be attributed to expansion of ev charging networks, standardization of charging connectors, international market growth, global ev adoption, and growing public and private charging stations. Major trends in the forecast period include fast and ultra-fast charging solutions, wireless charging technologies, ev battery advancements, smart grid integration and demand response, and autonomous and self-parking charging stations.
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Segmentation & Regional Insights
The electric vehicle charger market covered in this report 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
<b>Asia-Pacific</b> was the largest region in the electric vehicle charger market in 2023. The regions covered in the electric vehicle charger market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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, in April 2023, the government of US, Biden-Harris Administration set a goal that 50% of vehicles should be electrified by 2030. Therefore, the rising stringent regulations by the governments are projected to drive the growth of the electric charger market in the coming years .
Key Industry Players
Major companies operating in the electric vehicle charger market include <b> ABB Group, AeroVironment Inc., ChargePoint Inc., BP Chargemaster, Evatran Group Inc., Leviton Manufacturing Co. Inc., Webasto SE, Eaton Corporation plc, Schneider Electric SE, Siemens AG, Électricité de France S.A. (EDF), POD Point Ltd., Schaffner Holding AG, IES Synergy, Efacec Power Solutions S.A., Webasto Charging Systems Inc., Hyundai Motor Company, Alfen N.V., Allego B.V., ClipperCreek Inc., Continental AG, Magna International Inc., SemaConnect Inc., TGOOD Global Ltd., ZF Friedrichshafen AG, Robert Bosch GmbH, Delta Electronics Inc., Cyber Switching Inc., Tesla Inc., EVgo Services LLC, Electrify America LLC, Blink Charging Co., Tritium Pty Ltd., Enel X, Wallbox Chargers S.L., EVBox Group, Enphase Energy Inc., BorgWarner Inc. </b>
The electric vehicle charger market report table of contents includes:
1. Executive Summary
2. Electric Vehicle Charger Market Characteristics
3. Electric Vehicle Charger Market Trends And Strategies
4. Electric Vehicle Charger Market – Macro Economic Scenario
5. Global Electric Vehicle Charger Market Size and Growth
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31. Global Electric Vehicle Charger Market Competitive Benchmarking
32. Global Electric Vehicle Charger Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electric Vehicle Charger Market
34. Electric Vehicle Charger Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
ABB Group,
AeroVironment Inc
ChargePoint Inc.
Evatran Group Inc
Leviton Manufacturing Co. Inc
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