According to a new report published by UnivDatos Markets Insights, the Public Charging Infrastructure Market was valued at USD 6412.2 million in 2021 & is expected to grow at a CAGR of 31.3% from 2022-2030. The analysis has been segmented into Charging Type (DC and AC); Power Outage (<11KW, 11KW-50KW, and >50KW]; Region/Country.
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The public charging infrastructure market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the public charging infrastructure market. The public charging infrastructure market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the public charging infrastructure market at the global and regional levels.
Key Market Dynamics
As societies continue to evolve, there is a growing emphasis on sustainability and the transition towards cleaner energy sources. In this context, electric vehicles (EVs) have gained significant traction as a viable solution to reduce greenhouse gas emissions and dependence on fossil fuels. One crucial aspect of the EV ecosystem is the public charging infrastructure, which plays a vital role in ensuring the convenience and accessibility of EV charging for all drivers. This article explores how the growth of disposable income can positively impact the development and expansion of EV public charging infrastructure, fostering a more sustainable future for transportation. Increased Investment in Charging Infrastructure: As disposable income rises; individuals have more financial resources available for discretionary spending. This surplus income can be directed towards sustainable choices, such as purchasing an electric vehicle. Recognizing the increasing demand for EVs, governments, private companies, and utility providers are more likely to invest in the expansion of public charging infrastructure. These investments can range from establishing new charging stations to upgrading existing ones, ultimately leading to improved coverage and capacity. For example, with a surge in disposable income, a local municipality may decide to allocate funds to install additional charging stations in public parking lots, transportation hubs, and popular shopping centers. These strategic locations make EV charging more convenient and accessible to a larger number of drivers, ultimately encouraging EV adoption. Accelerated Technological Advancements: Growing disposable income provides a financial incentive for research and development in the EV charging sector. As more individuals invest in EVs, there is an increased demand for faster and more efficient charging solutions. This demand, coupled with the availability of capital, encourages innovation and technological advancements in charging infrastructure. For instance, a rise in disposable income can lead to increased private investments in startups focused on developing cutting-edge charging technologies.
COVID-19 Impact
The COVID-19 pandemic has had a significant impact on the electric vehicle (EV) public infrastructure industry. As countries around the world implemented lockdown measures and travel restrictions, the demand for public transportation and personal mobility decreased drastically. This decline in mobility resulted in a reduced need for EV charging stations and related infrastructure. Many governments and businesses had plans to invest in the expansion of EV charging networks prior to the pandemic. However, the economic uncertainties caused by the health crisis led to a delay or scaling back of these initiatives. Budget constraints and shifting priorities forced authorities to divert resources towards immediate healthcare needs and economic recovery measures. Furthermore, the pandemic disrupted supply chains, causing delays in the production and delivery of EV charging equipment. The closure of factories and restrictions on international trade impacted the availability of necessary components, leading to project delays and higher costs is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the Charging type, the market has been categorized into AC and DC.
· Based on the DC, the market has been categorized into CHADEMO, CSS, GB/T and Others.
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Public Charging InfrastructureServices Market Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
· Rest of the World
The public charging infrastructure services market in Europe holds the second-largest share globally. One of the main factors is the European Union's (EU) push towards reducing greenhouse gas emissions and meeting climate change targets. As a result, many European countries have implemented policies to incentivize the use of EVs, such as tax breaks, subsidies, and free charging stations. For instance, in Norway, electric cars are exempt from the heavy taxes imposed on gasoline and diesel vehicles, making them more affordable than traditional cars. Moreover, the growing adoption of EV batteries in Europe is the increase in charging infrastructure. In recent years, the number of charging stations across Europe has increased significantly, making it easier for EV owners to recharge their vehicles. For example, the Netherlands has one of the densest charging networks in the world, with over 60,000 charging points available.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the public charging infrastructure market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.
Recent Developments:
• In 2023, Circle K, a convenience store chain, opened its latest EV charging site in Wytheville, Virginia, the first to be equipped with ABB E-mobility’s U.S.-manufactured Terra 184 DC fast chargers which provide up to 180 kilowatts, according to a press release.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the public charging infrastructure market?
• Which factors are influencing the public charging infrastructure market over the forecast period?
• What are the global challenges, threats, and risks in the public charging infrastructure market?
• Which factors are propelling and restraining the public charging infrastructure market?
• What are the demanding global regions of the public charging infrastructure market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• What are the descriptive profiles of key companies along with their SWOT analysis?
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About UnivDatos Market Insights (UMI)
Browse Other Related Research Reports from UnivDatos Market Insights
· India EV Infrastructure Market
Target Audience:
· EV charging infrastructure company
· Charging point operators (CPOs)
· Location holder
· Government Organization & Other Organizations
· Others
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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