Electric Vehicle Charging Infrastructure Market  Size, Future Business Trends, Upcoming Demand, Innovations and Regional Outlook and Forecast 2022-2031

Kenneth Research examined the statistical and analytical approach that is required for the growth of Electric Vehicle Charging Infrastructure Market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electric Vehicle Charging Infrastructure Market products.

The growth of the Electric Vehicle Charging Infrastructure market can be attributed to the rising consumption of consumer electronics devices across the globe. It is expected that the total number of users of consumer electronics would reach a value of approximately 3 billion by 2025. The user penetration is also expected to grow to about 35% by the same year. Additionally, the emergence of advanced technologies such as artificial intelligence (AI), internet of things (IoT) and machine learning (ML) is predicted to offer a myriad of lucrative opportunities to the market players. This can be credited to the increase in the number of connected devices, which is further expected to raise the demand for semiconductor chips worldwide. In 2018, there were more than 20 billion IoT connected devices in the world, which are estimated to increase up to about 35 billion and 48 billion by the end of the years 2025 and 2030 respectively.

Kenneth Research has added a report on Electric Vehicle Charging Infrastructure Market that involves the analysis of the product demand and market on the basis of various factors and by using different analytical tools for the forecast period 2016-2026.

The Electric Vehicle Charging Infrastructure Market is expected to grow at a significant CAGR during the forecast period. Increasing demand for commercial and personal electric vehicles around the globe is anticipated to drive the growth of the Electric Vehicle Charging Infrastructure Market over the forecast period. According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.

The Electric Vehicle Charging Infrastructure Market report provides an in-depth analysis of the Semiconductor & Electronics during the forecast period 2017-2026 which consists of the industry overview including the market size, volume, growth rate and recent trends and developments in the market based on historical and current data. The report covers detailed information about the key players, market segments, growth drivers and restraints in the industry. The report delivers an insight into the Electric Vehicle Charging Infrastructure Market which allows our clients to make informed decisions regarding the growth of their businesses.

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The Global Electric Vehicle Charging Infrastructure Market is anticipated to reach USD 56.9 billion by 2026, according to a new study published by Polaris Market Research. Owing to the increasing adoption of the electric vehicles globally due to their reduced costs, increasing fuel prices, and increasing government initiatives such as subsidies and tax benefits along with strict environmental norms, the electric vehicle charging infrastructure market is projected to gain traction over the forecast period. In 2017, Asia Pacific region dominated the market by accounting the majority share in this market.

There has been a significant increase in the adoption of electric vehicles (EVs) especially in the cars segment. Major companies are working towards developing and launching new EV models with advance research and development due to the growing demand. This scenario has credited the growth of the EV charging infrastructure market.

Earlier the charging for these cars was done only at the residences, however, owing to the increasing number of EVs in the market, major companies along with the government organizations are coming up with the charging infrastructure for the public utility. These infrastructures are being commonly developed within the city limits, thus benefiting the customers to charge their cars at high speed with reduced time and cost.

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The penetration of EVs is high in regions such as Asia Pacific, North America and Europe, thus making them prime revenue generators collectively of the EV charging infrastructure market. Asia-Pacific is a lucrative market with high development potential attributable to the fast expanding quantities of electric vehicles in countries such as India, Japan and China. In the Asia-Pacific region, Japan has the fastest adoption of EV charging stations. India on the other hand is following the suite and have recently installed their first charging station which was jointly developed by the government and an online cab service provider.

Development of advanced DC chargers which can charge the EVs in less than 30 minutes are further helping the market to grow. Connectors such as CHAdeMO and Combined Charging System (CSS) along with superchargers developed by Tesla Motors, Inc are further fueling the growth of this market. In addition, the advancements in the charger type for creating fast charging arrangements are projected to drive the market development.

Major companies profiled in the report include ChargePoint, Inc., Schneider Electric SE., Tesla Motors, Inc., Delphi Automotive LLP, SemaConnect, Inc., SemaConnect, Inc., Leviton Manufacturing Co, Inc., General Electric, ABB Limited and AeroVironment, Inc. among others. These companies introduced new technologies and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of the consumers.

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Key Findings from the study suggest Asia Pacific region is expected to command the market over the forecast years. Major automobile manufacturers are seen to be vigorously investing in advancing EV charging framework. For example, Bavarian Motor Works (BMW), Volkswagen, Ford Motors, and Daimler declared a venture for the advancement of over 350 charging stations throughout the European region. North America is presumed to be the fastest growing market, developing at a rate of more than 45% over the forecast period. The electric vehicle charging infrastructure market is presumed to develop at a CAGR of over 40.8% from 2018 to 2026. The fast chargers segment is presumed to display the speediest development.

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