Pune, India, May 2019/MRFR Press Release Market Research Future Published a Half-Cooked Research Report on the Global Electric Vehicle Battery Charger Market. The Global Electric Vehicle Battery Charger Market is Expected to witness 14.3% CAGR during the forecast period, 2019–2025.
Electric vehicle battery chargers are used for charging electric vehicles. The charging rate at which the EV battery can be refilled depends on the capacity of the charger in the vehicle and amount of power the source can supply. The electric vehicle chargers can be segmented on the basis of level of charging in level 1,2,3 type of chargers. The level 1 charging requires a grounded120V outlet and add approximately 40 miles of range in an eight-hour overnight charge, while the level 3 charging can typically add 50 to 90 miles in 30 minutes.
The global electric vehicle battery charger market is segmented on the basis of electric vehicle type, level of charging, application, and region. On the basis of electric vehicle type, the global market has been segmented into battery electric vehicle, and plug-in hybrid electric vehicle. On the basis of level of charging, the global market has been segmented into level1, level 2, and level 3. On the basis of application, the global market has been segmented into public and private.
The global electric vehicle battery charger market is primarily driven by factors such as the increasing awareness regarding the impact of gasoline vehicles on the environment, the rise in demand for electric vehicles, and government initiatives and regulations for boosting the electric vehicle sale. However, lack of standardization among electric vehicle battery charger manufacturers in developing and underdeveloped regions might hinder the growth of the global electric vehicle battery charger market during the forecast period.
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Some of the major players in the global electric vehicle battery charger market are Lear Corporation (US), Baccus Global LLC (US), Tesla (US), CTEK Holding AB (Sweden), Delphi Automotive LLP (Ireland), and Clore Automotive LLC (US). Robert Bosch GmbH (Germany), Current Ways Inc. (US), IES Synergy (France), Meta Systems S.P.A (Italy), LG Electronics (South Korea), Ficosa Internacional SA (Spain), and Schumacher Electric Corporation (US) are among others.
Drivers: Global Electric Vehicle Battery Charger Market
Market Research Analysis
In terms of region, the global market for electric vehicle battery charger is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to lead the global electric vehicle battery charger market during the forecast period. This growth is due to the initiatives taken by the governments of countries such as China, Japan, India, and Singapore combined with the increase in number of collaborations between the vehicle OEMs and technology providers in this region. Furthermore, the increased sales of electric vehicle has encouraged many manufacturers to set up their base in this region. Automakers such as Tesla, Tata Motors, and Hyundai Motor Company have decided to initiate the production of electric vehicles and related components in Asia-Pacific. This is expected to increase the sale and installation of electric vehicle battery charger in the region, further. Europe region is expected to register a substantial growth rate during the forecast period, owing to the increasing demand for electric vehicle across the region.
Scope of the Report
This study provides an overview of the global electric vehicle battery charger market, tracking three market segments across four geographic regions. The report studies key players and provide a six-year annual trend analysis, which highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the world. The report also provides a forecast, which focuses on the market opportunities for the next six years for each region. The scope of the study segments the global electric vehicle battery charger market by electric vehicle type, level of charging, application, and region.