Apac Electric Charging Station Market
An electric vehicle charging station provides electric energy for the recharging of electric vehicles, including electric cars, neighborhood electric vehicles, and plug-in hybrids. It is also called as EV charging station, electric recharging point, electronic charging station (ECS), and electric vehicle supply equipment (EVSE).
Market Dynamics:
Growing Utilizing electric vehicles is a significant step in the direction of minimizing the environmental risks brought on by air pollution. Hazardous gases that cause air pollution are not released by electric automobiles. For this reason, the market for electric vehicles is expanding with the help of numerous governments and environmental organizations. For instance, the Government of India reports that the tax rate for electric vehicles is 12%, whereas the rate for petrol and diesel vehicles is 28%.
Electric vehicles are replacing gasoline-powered automobiles in many Asian nations. For instance, Malaysia is a significant country in the adoption of electric vehicles, according to the Malaysian Ministry of Energy, Science, Technology, Environment and Climate Change. Electric vehicle charging ports.
Electric vehicles have more economic benefits over fuel cars due to which Government of India is taking major steps towards establishing public electric charging stations. According to NITI Ayog report 2017, the Indian government is providing subsidiary for all the private investors to invest in establish infrastructure for electric charging stations. Further, According to government initiative known as National Electric Mobility Blueprint (EMB), country will replace diesel and petrol vehicles with electric vehicles and reduce the dependency on fossil fuel and greenhouse gas emissions. For instance, according to study in University of Michigan, for electric recharge of US$ 1, electric car can travel up to 36kms and for US$ 1, fuel car can travel only up to 18kms. This makes electric vehicles more cost-effective. Thus, the above factors boosting the market growth over forecast period.
Key features of the study:
Detailed Segmentation:
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