Electric vehicle infrastructure refers to the charging station network, which provided publicly to charge the vehicles. The foundation of electric vehicles is required owing to the emerging electric vehicle manufacturing in the market. The car easily charged at the resident and suitable for the personal vehicle, but with a commercial vehicle, it will be insufficient to travel long distances.
The global EV infrastructure market has the potential to grow with USD 111.25 billion with fueling CAGR in the forecast period from 2020-2027. The factors that are driving the market demand of global EV infrastructure as governments around the world to announce fuel oil bans and mature electric vehicle technology and markets, they expected to lead the car sales market in the next decade.
Electric vehicle manufacturers have been working hard to increase the cruising range of electric vehicles to ease the mileage anxiety of electric vehicle drivers. However, a larger battery and longer battery life alone cannot completely solve the customer’s concern about the mileage. The availability and convenience of charging facilities are also one of the critical factors to ensure an enjoyable driving experience for electric vehicle owners. Therefore, the implementation of the charging infrastructure is essential to promote the popularity of electric vehicles and the sustainable development of related industries.
Moreover, electric operating fleets (such as buses and trucks) require a charging infrastructure that is very different from existing passenger car infrastructure. The continuous expansion of the electrical operating fleet provides enormous opportunities for the development of charging infrastructure for electric buses and trucks.
Furthermore, the new infrastructure aimed at building a digital economy, promoting the digital transformation of society, and becoming a unique opportunity for the automotive industry in transformation and upgrading. The development of intelligent networking in the automotive industry has spanned many fields such as 5G, new energy vehicles, data centers, artificial intelligence and has become a relevant carrier for the implementation of new infrastructure in the electric vehicle market.
Additionally, in the future, the electric vehicle charging infrastructure industry will be driven by policies and funds, and more new technologies and commercial solutions will emerge to fill the shortcomings in the development of electric vehicles and improve the convenience of using new energy vehicles.
The increase in the adoption of electric vehicles has bolstered the market demand for upgrading the infrastructure of the electric vehicle market. It is mainly owing to the environmental pollution and depletion of fossil fuels, and recovery will take 100 of years to replenish the fuels. Moreover, with technology, the electric vehicle will enhance the economic conditions and improve transportation facilities.
EV infrastructure development is also propelling in the market with the emerging use of the commercial electric vehicle such as buses, taxis, cars, and other required charging stations. Overnight residential charging is not sufficient to cover a long distance. Therefore, local charging stations are required to build that helps in charging the commercial and personal vehicles at any time.
Based on the Charger type, the global EV infrastructure market categorized into Slow Charger, Fast Charger. The fast charger segment accounted for the largest share in the global EV infrastructure market. Electric vehicles are currently the most popular owing to their properties such as energy-saving and environment-friendly green cars. Charging for electric vehicles usually takes 7-8 hours on a single charge. It is an electronic charging device with a bright display screen prompt, remaining charging time display, and battery voltage display module. The device can quickly charge three electric vehicles, with a coin-operated charging time of 10 minutes and a 15-mile ride, which quickly and effectively solves the problem of electric vehicles running out of electricity.
Based on the connector, the global EV infrastructure market classified into CHAdeMO, CCS, Others. The CCS segment is estimated to account for the largest share of the EV infrastructure market in the forecast period. It mainly uses for charging corridors on highways and can also be deployed in commercial environments. It can make electric cars charge 100 kilometers (60 miles) in three to five minutes. CCS is a flexible connector and its design that can suit different users and reduce wrist movement disorders. Moreover, for DC fast charging, the combination charging system (CCS) connector is coupled with the power line communication (PLC) protocol, which is particularly suitable for smart grid communication.
Based on the application, the global EV infrastructure market bifurcated into Commercial, Residential. The commercial segment has dominated the largest share in the global EV infrastructure market. Many countries around the world are planning and are in line with the worldwide shift to electric vehicles. Various government departments are considering the introduction of electric vehicle policies to promote the development of the electronic vehicle ecosystem. It is mainly to reduce air pollution, emissions, and oil import costs, electric vehicle helps in minimizing the environmental concern and will provide clean mobility. Therefore, with the launch of the electric vehicle (EV) charging infrastructure stage, the government is allowing individuals to establish commercial charging stations to improve electrical transportation capabilities.
Based on geography, the global EV infrastructure market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific region is dominating the market share of the global EV infrastructure market. It is mainly owing to the extensive manufacturing of electric vehicles is rising, massive investment in charging stations, and reducing environmental pollution concern is propelling the market demand of EV infrastructure in the Asia Pacific region.
Companies such as ABB Ltd., AeroVironment Inc., ABB, BP Chargemaster, ChargePoint, Inc., ClipperCreek, Eaton, GENERAL ELECTRIC, Leviton Manufacturing Co., Inc., SemaConnect, Inc., Schneider Electric, Siemens, Tesla, Inc., Webasto, and others are key players in the global EV infrastructure market.
By Charger Type