Juicing Up E-Mobility Forecasting the Growth and Opportunities in...

Juicing Up E-Mobility Forecasting the Growth and Opportunities in Electric Vehicle Battery Charger Industry

Posted 2023-07-20 06:26:15

Market Research Future Insights

The Global Electric Vehicle Battery Charger Market Size is expected to grow at a 28% CAGR and is estimated to be worth USD 64.67 Billion by the end of 2030.

The electric vehicle battery charger is extensively used to charge electric vehicles. It's a kind of device that is useful to transfer electricity from the electric grid to provide electricity to charge electric vehicles like plug-in hybrid electric vehicles and battery electric vehicles.

The demand for EV chargers is anticipated to grow at an expressive pace in the upcoming years owing to the growing demand for electric and alternative fuel vehicles across the world. The growing concerns related to carbon emissions from vehicles, climate change, and increasing air pollution have transferred the focus toward the acceptance of clean and green energy. This is a significant factor that has herded the demand for electric vehicles.

The EV industry is anticipating fantastic growth in developed and developing regions around the globe. The progressive dependency on the bio-fuels has influenced increased levels of air pollution and as a consequence, the frequency of several respiratory and other diseases is surging among the world population.

Regulating the carbon footprint and stepping towards clean and green energy are the substantial factors that are anticipated to drive the growth of the global EV charger market. The accelerating consumer awareness regarding carbon emissions from vehicles boosted environmental consciousness, improvements in the standard of living and the growing embracement of advanced technologies are altogether propelling the growth of the global EV charger market.

Key Players

Delphi Automotive LLP (Ireland)
Clore Automotive LLC (US)
Robert Bosch GmbH (Germany)
Current Ways Inc. (US)
IES Synergy (France)
Lear Corporation (US)
Baccus Global LLC (US)
Tesla (US)
CTEK Holding AB (Sweden)
Meta Systems S.P.A (Italy)
LG Electronics (South Korea)
Ficosa Internacional SA (Spain)
Schumacher Electric Corporation (US)

Regional Analysis

The Global Electric Vehicle Battery Charger Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Asia Pacific region dominated the universal EV charger market in 2020. The presence of a huge population, expanded pollution levels owing to industrialization and lightning urbanization, growing disposable income, growing government initiatives, rising consumer cognizance, and rising environmental consciousness among consumers are some of the remarkable factors that have punched the growth of Asia Pacific EV charger market. The evolving economies like China, South Korea, and Japan are planning to enlarge the number of charging stations to promote the embracement of electric vehicles in the country.

Europe is the second largest EV charger market. The consumer advertency regarding carbon footprint is high and the demand for sustainable products like electric vehicles is also towering. The presence of several top EV manufacturers and the progressive investments in fabricating the EV charging infrastructure has ushered in the growth of the Europe EV charger market.

The enhanced standard of living and high demand for private commute solutions is driving the sales of electric vehicles. Also, the establishment of several topmost manufacturers in the region is greasing the growth of the EV charger market in this region.

Market Segmentation

The Global Electric Vehicle Battery Charger Market Share is segmented into;

By Vehicle Type:-