Global Electric Vehicle Supply Equipment Market to Exceed A Value of US$ 726 Mn by 2022

Global Electric Vehicle Supply Equipment Market to Exceed A Value of US$ 726 Mn by 2022

The global market for electric vehicle supply equipment is gaining popularity all around the world due to the increasing popularity of electric vehicles. An electric vehicle supply equipment, also known as electric vehicle charging station, electric recharging point or even charge point, and is used to supply electricity in order to recharge electric vehicles such as electric cars or hybrids. In the present times, there is a rapid awareness about pressing environmental issues like degrading air quality due to the burning of the fossil fuels which also leads to other complex issues such as that of global warming.

In order to counter such issues, governments all over the world are encouraging the sales of electric vehicles in which the emissions are nil. In order to encourage the sales of electric vehicles, governments all over the world are giving subsidies on the electric vehicles and exempting them from paying road tax. In addition, manufacturers are investing a great deal in R&D to offer more advanced versions of electric cars that are also affordable for the general public.

The global electric vehicle supply equipment market is slated to touch a value of about US$ 726 Mn in the year 2022 and grow at a moderate CAGR during the assessment period.

4 Forecast Highlights on Global Electric Vehicle Supply Equipment Market

As per the forecast of Persistence Market Research, the Level 2 (> 3.7 kW and ≤ 22 kW) segment is slated to touch a value of nearly US$ 112 Mn in the year 2022. This represents a moderate CAGR growth during the assessment period of 2017-2022. The Level 2 (> 3.7 kW and ≤ 22 kW)  segment is estimated to account for nearly one-fifth of the revenue share of the charger type segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.

As per the forecast of Persistence Market Research, the commercial segment will reach a value of nearly US$ 210 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The commercial segment is forecasted to account for more than one-third of the total revenue share of the end-user segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.

As per the forecast of Persistence Market Research, the train stations segment is slated to reach a value of nearly US$ 141 Mn in 2022. The train stations segment is expected to lose market share by the end of the year 2022. The largest share is contributed by the North America region in the train stations segment.

Persistence Market Research forecasts the US electric vehicle supply equipment market to exhibit an annual growth rate (CAGR) of 4.7% from 2017 to 2022.

The report has also included the profiles of some of the leading companies in the electric vehicle supply equipment market like ABB Ltd, Schneider Electric S.E., Tesla Inc., General Electric Company, ChargePoint, Inc., SemaConnect, Inc., Car Charging Group, Inc., Robert Bosch GmbH, Eaton Corporation PLC, and AeroVironment, Inc.

A sample of this report is available upon request @ https://www.persistencemarketresearch.com/samples/18490

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As Head of editing at CMFE News, Rohit brings to the table over a decade of experience in Industry research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology, lifestyle and business.

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