An electric vehicle charging station also knownt

An electric vehicle charging station
also known as electric vehicle supply equipment (EVSE) is equipment that
connects an electric vehicle (EV) to a source of electricity to recharge
electric cars. Electric vehicle charging station market is growing as rapidly
alongside the electric vehicle market. By application type charging station is
divided into two parts i.e. public and private charging stations. Charging
stations at private places and public destinations may help bolster market
acceptance.


Charging equipment for plug-in electric vehicle is classified by the rate at
which the batteries are charged. Charging times vary based on how depleted the
charging station is, charging station types, how much energy charging station
holds, and the type of charging equipments. According to the report title “Global Electric Vehicle Charging Station Market Outlook, 2027” publish by Bonafide Research,
charging station market is expected to grow at CAGR of more than 30% in value market
size by the end of forecast period. By charger type market is segregated into
two main type i.e. slow chargers and fast chargers. Slow charger is leading
with more than 88% of value market share. Correspondingly, fast charger is the
fastest growing segment in value market share and expected to capture higher
market share in forecast period.

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There are mainly three levels of
electric vehicle charging i.e. Level 1, Level 2, and Level 3 charging. Level 1
and Level 2 charging is generally alternating current (AC) charging which are
also known as slow chargers. Level 3 charging is broken into Direct Current
Fast Charging (DCFC) and various others fast charging such as Tesla
Supercharging, Terra 360 and CHAdeMO charging. Higher the level of charging, faster
the charging process, as more power is delivered to the vehicle. According to
the report, Level 1 charging segment is leading with more than 71% of volume
market share. Follow by Level 2 charging and then Level 3 charging. By
application type of charging market is segregated into public and private
charging. Public charging infrastructure is vital to supporting existing
electric vehicles while encouraging future adoption. Public charging
infrastructure has continued apace over the past year on the back of
significant investment from the governments and various private sectors.
Adoption of charging station in private places is rapidly increasing as growth
in sales of electric vehicle. According to the report, private segment having
the market share of more than 65% volume market share correspondent to public
segment having lowest market share, however, public segment is likely to
capture higher market share in forecast period.



There are various factors responsible for year on year growth of electric vehicle
charging market globally, such as increasing in sales of electric vehicle,
environment awareness among people and various government incentives towards
clean energy. By region Asia-Pacific is leading the market with highest
installation of charging station globally. The reason behind this is adaptation
of electric vehicle in china. By volume share, Asia-pacific is leading with
more than 45% market share, follow by Europe. By country, china is leading with
more than 50% of value and volume market share.

The electric vehicle (EV) segment is still taking tentative steps towards
mainstream proliferation in the global context. The electric vehicle and
charging station industry had faced many challenges in pandemic situation
globally. Sales of electric vehicle significantly affected in COVID-19
situation along with the wider automotive industry. The lockdown has shown
immediate impacts on the supporting industry of EV charging services, and the
related supply chain for charging station deployment. However, governments
across the globe think of ways to reemerge from this pandemic with an economy
that is stronger and more resilient than it was before, EVs and charging
station continue to get a significant amount of attention.



Major Companies present in the market:

ChargePoint Holdings, Inc., Shell, Tesla Inc., BP, ABB, RWE, Siemens, Efacec,
BLINK CHARGING co. , Eaton Corporation plc, SCHNEIDER ELECTRIC, WEBASTO GROUP,
Leviton Manufacturing Co. Inc., Phihong USA Corp., EV Safe Charge Inc., Tata
Power.

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