Electric Vehicle Supply Industry Insights

Equipment for Supplying Electric Vehicles The market was estimated to be worth US$ 4.04 billion in 2022, and from 2023 to 2029, total revenue is predicted to increase at a compound annual growth rate of 26.3%, or US$ 20.72 billion.

Electric Vehicle Supply Equipment Market Dynamics:

Government backing for the ecosystem of electric vehicles

Infrastructure for charging electric vehicles is essential to the widespread use of these vehicles, which has led to an increase in global government assistance. In order to lessen vehicle pollution, governments from many nations have also realized that switching to electric vehicles is necessary. As a result, a number of efforts have been started to supply EV charging stations globally. For instance, the Automotive Research Association of India (ARAI) intended to put in over 200 charging stations for electric vehicles all around the nation.

EVs with zero emissions are driving EVSEs.

As low-emission vehicle development gains more attention, equipment adoption will rise and electric car adoption is predicted to expand. The market is anticipated to grow more as a result of the removal of import tariffs, purchase taxes, road taxes, and zero- or low-cost registration fees. Additionally, governments provide beneficial programs and incentives to encourage the usage of supply equipment for electric vehicles. For instance, the Scottish government invested about USD 30 million in expanding the nation's network of electric vehicle charging stations between 2011 and 2019. In addition, rising petrol prices are causing people to convert to electric cars. These factors may support the growth of the electric vehicle supply equipment market.

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Electric Vehicle Supply Equipment Market Scope and Methodology:

The Electric Vehicle Supply Equipment (EVSE) Market encompasses the development, production, and deployment of charging infrastructure and related technologies that support the growth of electric vehicles (EVs). This market analysis covers various types of EVSE, including residential, commercial, and public charging stations, as well as different charging levels (Level 1, Level 2, and DC fast charging). The scope includes a detailed examination of market segments such as hardware, software, and services, and explores key applications across residential areas, workplaces, public spaces, and highway networks. The analysis also considers the impact of government policies, incentives, and the increasing demand for sustainable transportation solutions. Regional insights focus on key markets such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, considering factors like infrastructure development, regulatory frameworks, and consumer adoption rates.

The research methodology integrates both qualitative and quantitative approaches to provide a comprehensive analysis. Primary research involves conducting interviews and surveys with industry stakeholders, including manufacturers, infrastructure developers, government officials, and end-users, to gather firsthand insights. Secondary research includes an extensive review of industry reports, market studies, academic publications, and regulatory documents. Market estimation is carried out using top-down and bottom-up approaches to assess market size, growth trends, and future forecasts. Data analysis employs SWOT analysis, Porter’s Five Forces, and trend analysis to evaluate market dynamics, competitive landscape, and emerging opportunities.

Electric Vehicle Supply Equipment Market Regional Insights

North America, Europe, Asia Pacific, South America, the Middle East, and Africa are the major regions that are covered in the Electric Vehicle Supply Equipment market. Analysis of the key countries for all the regions along with the analysis of social, cultural, economic, political, and technological factors have also been covered in the report.

Electric Vehicle Supply Equipment Market Overviews

Maximize Market Research is an Electric Vehicle Supply Equipment research firm that has published a detailed analysis of the “Electric Vehicle Supply Equipment Market”. The report includes pricing analysis, demand analysis, business insights, market trends, competitive landscape, and growth opportunities. The base year of the Electric Vehicle Supply Equipment market .

Electric Vehicle Supply Equipment Market Classifications

by Type

Level 1,2,3

According to kind, in 2021 the highest market shear of % was held by Level 2 type. The most popular type of chargers are Level 2, which charge more quickly than Level 1 but at a higher cost. Public spaces, private homes, and workplaces all have level 2 chargers. Although they are marketed separately from the vehicle, residential Level 2 chargers are typically bought together and typically need to be installed by an expert. Because Level 2 chargers can withstand voltages higher than 200 volts and can support currents between 12 and 80 amps, they charge faster than Level 1 chargers, which are only capable of 10 to 12 amps.

by Product Type

Portable Charger

EV Charging Kiosk

Onboard Charging Station

Others

In terms of product type, the market leader in 2022 was the EV charging kiosk category. because self-service charging options like improved intelligence interactive EV kiosks have been made available. In addition, technological advancements such as the integration of RFID and Near Field Communication (NFC) in EVSE have enhanced the effectiveness of digital payments for EV users of the infrastructure. Additionally, because developed nations like the U.S., the U.K., and Germany lack sufficient labor, it has been difficult for owners of electric vehicle charging stations to assign customer service workers during times of high traffic. The market for EV charging kiosks is mostly driven by this.

by Application

Residential

Commercial

Train stations

Government buildings

Based on application, the market has been split into residential and commercial segments, with the commercial segment expected to dominate the market in 2022. Government initiatives such as the West Coast Electric Highway (WCEH), the Norway to Italy Electric Highway, and the Trans-Canada Highway Project are driving this market. Electric car supply equipment producers are also putting a lot of effort into building electric vehicle charging stations in hotels, malls, and resorts in order to meet the need for charging stations. The increased emphasis that hospitality companies like Hyatt Corporation and Marriot International, Inc. are placing on the installation of electric vehicle charging stations is another factor propelling the growth of this particular market.

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The following companies are included in the market for Electric Vehicle Supply Equipment :

1. Liberty Plugins (US)

2. Clipper Creek (US)

3. Coritech (US)

4. EVgo Services LLC (US)

5. Blink Charging Co. (US)

6. BTC Power (US)

7. Chargepoint (US)

8. Tesla Motors (US)

9. Andromeda Interfaces Inc (US)

10.Bosch Automotive Service Solutions Inc (US)

11.BYD Motors (US)

12.Eaton Corporation plc (US)

13.General Electric Company (US)

14.Leviton Manufacturing Co. Inc. (US)

15.Delta Electronics, Inc (US)

16.Webasto Group (Germany)

17.Siemens AG (Germany)

18.FullCharger (France)

19.Schneider Electric SE (France)

20.ABB Ltd. (Switzerland)

21.Circontrol (Spain)

22.Efacec Electric Mobility S.A. (Portugal)

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Key questions answered in the Electric Vehicle Supply Equipment Market are:

• What is Electric Vehicle Supply Equipment?

• What is the growth rate of the Electric Vehicle Supply Equipment Market?

• Which are the factors expected to drive the Electric Vehicle Supply Equipment market growth?

• What are the different segments of the Electric Vehicle Supply Equipment Market?

• What growth strategies are the players considering to increase their presence in Electric Vehicle Supply Equipment?

• What are the upcoming industry applications and trends for the Electric Vehicle Supply Equipment Market?

• What are the recent industry trends that can be implemented to generate additional revenue streams for the Electric Vehicle Supply Equipment Market?

• Who are the leading companies and what are their portfolios in Electric Vehicle Supply Equipment Market?

• What segments are covered in the Electric Vehicle Supply Equipment Market?

• Who are the key players in the Electric Vehicle Supply Equipment market?

Key Offerings:

• Past Market Size and Competitive Landscape

• Past Pricing and price curve by region

• Market Size, Share, Size & Forecast by different segment

• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region

• Market Segmentation – A detailed analysis by segment with their sub-segments and Region

• Competitive Landscape – Profiles of selected key players by region from a strategic perspective

o Competitive landscape – Market Leaders, Market Followers, Regional player

o Competitive benchmarking of key players by region

• PESTLE Analysis

• PORTER’s analysis

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