Electric Vehicle Supply Equipment Market by Charger Type (Private Chargers and Public Chargers) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

The Global Electric Vehicle Supply Equipment Market size was valued at USD 1.91 billion in 2019 and is predicted to reach USD 22.04 billion by 2030 with a CAGR of 24.9% from 2020-2030. Electric Vehicle Supply Equipment is a system which supplies electricity to the electric vehicle. It is also known as charging station which helps to recharge the vehicle batteries. The entire system consists of software, communications, electrical conductors, and others which improves the efficiency and safety of the vehicle.
Market Dynamics and Trends
The fast-developing lifestyle and increasing population led to rise in the demand of vehicles which drives the growth of automotive industry on a global level. The other factors include rising demand of electric and hybrid vehicle coupled with increasing environmental concerns are expected to support the market growth. However, high cost of installation and maintenance with technical issues are expected to hamper the growth of electric vehicle supply equipment market. On the other hand, increase in fuel prices, innovation and R&D are expected to create lucrative opportunities in the electric vehicle supply equipment market in the near future.
Market Segmentations and Scope of the Study:
The global electric vehicle supply equipment market share is analysed on the basis of Charger type and geography. On the basis of charger type, the market is segmented into Private Chargers and Public Chargers. Based on Public Chargers, the market is sub-segmented into Slow Charger and Fast Charger. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to account for the major market share over the forecast period owing to the increase in adoption of electric and hybrid vehicle. Moreover, increase in technological advancement and presence of developed infrastructure with rise in automotive industries is expected to support the growth of electric vehicle supply equipment market.
Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the fluctuating fuel prices with rise in demand of vehicles. Moreover, increase in environmental concerns and air pollution is also expected to propel the market growth in the near future.

Competitive Landscape

The electric vehicle supply equipment market, which is highly competitive, consists of various market players. Some of the major market players include ABB Ltd., AeroVironment Inc., ClipperCreek, Inc., ChargePoint, Inc., Chargemaster PLC, Leviton Manufacturing Co., Inc., Eaton Corporation, Leviton Manufacturing Co., Inc., Leviton Manufacturing Co., Inc., and Siemens among others.
In the recent past there had been various developments taken place in the market which is also further expected to take place in near future. For instance, in December 2019, BP Chargemaster has installed 50kW Ultracharge, 7kW Fastcharge, and 150kW ultra-fast chargers in November, all now available on the Polar public network, and can be accessed with a Polar Plus RFID card or through the Polar Instant app.

KEY MARKET SEGMENTS:
• Global Electric Vehicle Supply Equipment market – By Charger Type
o Private Chargers
o Public Chargers
 Slow Charger
 Fast Charger
• Global Electric Vehicle Supply Equipment market –By Geography
o North America
 U.S.
 Canada
 Mexico
o Europe
 UK
 Germany
 France
 Italy
 Norway
 Netherlands
 Scandinavia
 Spain
 Portugal
 Poland
 Czech
 Slovakia
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 Australia
 Rest of Asia-Pacific
o Latin America
 Brazil
 Rest of LATAM