WILMINGTON, DE / ACCESSWIRE / January 26, 2023 / Transparency Market Research Inc. - The global EV Charging Kiosk Market is projected to expand at a CAGR of 31.7% between 2022 and 2031, according to the market outlook presented in the study by Transparency Market Research (TMR).
An increase in environmental concerns and surge in fuel prices globally have led to a shift in consumer preference toward environment-friendly, fuel-efficient, and safe automobiles. Hence, sales of electric vehicles (EVs), as well as hybrid electric vehicles (HEV), have been rising over the past few years. This is expected to drive industry growth in the next few years.
EV Charging Kiosk Market: Growth Drivers
- Growing efforts of government bodies from developed and developing countries to promote EVs adoption is bolstering market demand
- Increase in need for electric charging stations due to rise in usage of EVs is driving market growth
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Key Findings
- Governments of developed and emerging countries are taking initiatives to encourage the usage of EVs. Hence, several governments are implementing favorable regulations and offering additional benefits. For instance, the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme of India, Zero-Emission Vehicle Program of California, U.S., and The European Green Cars Initiative of the European Union are some of the key programs implemented by government authorities that offer tax benefits and incentives to manufacturers and consumers on production and purchase of EVs. Such initiatives are expected to boost the demand for EVs, which is likely to drive the demand for electric car charging stations in the next few years.
- Need for EV charging stations with an ability to connect to the grid (Vehicle-to-Grid) is likely to increase in the next few years. This factor presents significant growth opportunities for market players. Leading EV manufacturers are increasing their R&D activities in order to produce advanced EVs that can be operated easily in different terrain/road types as well as climatic conditions. These initiatives are expected to drive business growth during the forecast period.
- As per the forecast in the report by TMR, the BEV segment is expected to hold a significant share of the global market during the forecast period. This can be ascribed to surge in need for EV charging infrastructure and EV charging kiosks due to increase in usage of battery EVs across the globe.
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EV Charging Kiosk Market: Competition Landscape
- Players are increasingly using latest technologies to develop EV charging kiosks with improved quality
- Companies are adopting business strategies, such as product launch, merger, and acquisition, in order to maintain their prominent shares in the market
EV Charging Kiosk Market: Key Players
- Schneider Electric
- Siemens
- ClipperCreek, Inc.
- ABB Group
- AeroVironment, Inc
- BP Chargemaster
- Eaton Corp.
- Tesla
- ChargePoint Inc.
- EVgo Services LLC
- The New Motion B.V.
- Leviton Manufacturing Co. Inc.
- Webasto Group
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EV Charging Kiosk Market Segmentation
- Charging Station
- AC charging station
- DC charging station
- Inductive charging station
Connector Type
- Combined charging system
- Chademo
- Others
Application
- Residential
- Commercial
EV Type
- BEV
- PHEV
- HEV
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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