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Scarcity of conventional fossil fuels is leading to increasing demand for developing alternative solutions. Car manufacturers, therefore, are focusing on developing alternatives to fuel cars such as electric vehicles, which are environmental friendly as well. Electric vehicles offer great potential to drastically reduce air pollution, greenhouse gas, and other hazardous gas emissions. With cost of electric vehicles falling consistently, the transition is being perceived to be more likely in the near future. Furthermore, increasing availability of electricity and growing availability of low-carbon, renewable energy sources is expected to aid in increasing adoption of electrical vehicles. However, insufficient electric vehicle charging infrastructure and associated policy are factors expected to adversely affect the market growth. Growing trend of electrical vehicles is expected to aid in growth of electric vehicle chargers market during the forecast period of 2018-2025.

Low Costs of Deployment of Electric Vehicle Charging Infrastructure

Utilization of electric vehicles depends on adequate facilities for vehicles to be charged, especially at public places. The infrastructure required for this is poised for growth in the near future and the cost for this is expected to reduce significantly. This aids in increasing adoption of electric vehicles. Electric vehicle chargers are expected to increase in proportion with rising deployment of the infrastructure for charging in public facilities. Ensuring that the electric vehicle charging network operates efficiently and meets driver expectations is a crucial factor in maintaining future investment and support. In order to maximizes return on investment, electric chargers can be placed at charging stations in optimal locations at a local level in order to maximize usage, avoid traffic and parking issues, and minimize stress on the power grid.

Electric vehicle charging infrastructure has seen substantial cost declines over the past several years due to innovative technological advancements and larger production scale. For instance, since 2009, the city of Amsterdam has seen the costs of their curb side charging stations fall from around US$ 14,600 to US$ 2,500 per station. Nonetheless, charging infrastructure also typically requires substantial installation costs and can also incur additional costs for land procurement, administration, and maintenance.

Electric vehicle chargers can be installed at home or public places as per the individual's requirements. Surge in demand for luxury and high-end electric vehicles has led to increasing demand for EV chargers in the market. Furthermore, stringent government regulations especially emission norms for CO2 and greenhouse gases by EPA to curb carbon emission are expected to boost growth of the electric vehicles market, in turn aiding in market growth.

Global Electric Vehicle Charger Market: Regional Insights

Charging infrastructure in Europe have been constructed by private charge point providers, power companies, automakers, and government organizations, primarily at the national and city levels. Countries within the European Union have launched funding schemes or public-private partnerships to increase charging infrastructure. Some countries, such as Norway and the Netherlands, have provided incentives for charging infrastructure for several years; whereas in countries such as Germany, have recently launched major new charging infrastructure programs, aiding in growth of the market in the region.

In North America, the U.S. electric vehicle charger market is expected to exhibit high growth  owing to federal and state consumer incentives and investment, zero-emission vehicle regulatory policy, and multiple state and local city promotion activities. As per U.S. Department of Energy (DOE), California zero-emission vehicle policy, adopted by states representing nearly one-third of the U.S. vehicle market, is expected to increase electric vehicles in the region from over 600,000 in early 2017 to several million by 2025. Initial investment in charging infrastructure in the U.S. was provided by the American Recovery and Reinvestment Act of 2009, which provided federal funding through the EV Project and the U.S. Department of Transportation Investment Generating Economic Recovery program, among many infrastructure projects in the U.S. from 2010 to 2013. By the end of 2014, there were about 18,000 public Level 2 and DC fast electric charge points in the U.S. (U.S. DOE, 2017a)

Global Electric Vehicle Charger (EVC) Market: Competitive Background

Major players operating in the EVC market are ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, Chargemaster PLC, Schaffner Holdings AG, and POD Point.

Global Electric Vehicle Charger (EVC) Market: Taxonomy

On basis of Vehicle Type

  • Battery Electric Vehicles (BEV)
  • Plug-in Electric Vehicles (PIV)
  • Hybrid Electric Vehicles (HEV)

On basis of Charging Type

  • On-board Chargers
  • Off-board Chargers

On basis of End Users

  • Residential
  • Commercial

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users