The Global Electric Vehicle Supply Equipment Market size is estimated to be USD 1.91 billion in 2019 and is predicted to reach USD 22.04 billion by 2030 with a CAGR of 24.9% from 2020-2030.
Electric Vehicle Supply Equipment is a system which supplies electricity to the electric vehicle. It is also known as charging stations which helps to recharge the vehicle batteries. The entire systems consist of software, communications, electrical conductors, and others which improve the efficiency and safety of the vehicle.
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Top Companies: ABB Ltd., AeroVironment Inc., ClipperCreek, Inc., ChargePoint, Inc., Chargemaster PLC, Leviton Manufacturing Co., Inc., Eaton Corporation, Leviton Manufacturing Co., Inc., Leviton Manufacturing Co., Inc and others.
The global electric vehicle supply equipment market share is analyzed on the basis of power type, charging station, product type, application and geography. On the basis of power type, the market is segmented into AC Power and DC Power. Based on product type, the market is segmented into portable charger, onboard charging station, EV charging kiosk, and others. On the basis of charging station, the market is divided into super charging, induction charging and normal charging. The application is further fragmented into commercial and residential. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America is expected to account for the major market share over the forecast period owing to the increased adoption of electric and hybrid vehicle. Furthermore, increase in technological advancement and presence of developed infrastructure with increase in automotive industries is expected to support the growth of electric vehicle supply equipment market. Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the fluctuating fuel prices with increased demand of vehicles. Furthermore, increase in environmental concerns and air pollution is also expected to propel the market growth in the near future.
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