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The Electric Vehicle Supply Equipment Market was at US$ 25 Bn in 2021 and is growing to approx US$ 210 Bn by 2030, with a CAGR growth of 30% between 2022-2030.

SANDY, UTAH, UNITED STATES, November 6, 2022 /EINPresswire.com/ -- According to the study, The Global Electric Vehicle Supply Equipment Market was estimated at USD 25 Billion in 2021 and is anticipated to reach around USD 210 Billion by 2030, growing at a CAGR of roughly 30% between 2022 and 2030.

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Electric Vehicle Supply Equipment Market: Overview

A charging station for electric vehicles, also known as an EV charging station, EV charging system, electric charging point, or charging point, is also known as an electric vehicle supply equipment (EVSE). By enabling a two-way link between the electric car and the charging infrastructure, EVSE—the equipment and protocols that produce them—increases safety. The critical function of an EVSE is to supply electric power for charging electric vehicles. Electric utility companies and certain private businesses supply these stations, which are located in parking lots and in retail shopping malls. These stations provide various connectors to support any EV.

Electric Vehicle Supply Equipment Market: Growth Drivers

Governments are encouraging the use of electric vehicles to combat environmental issues, including global warming and air pollution brought on by the use of carbon-based fuels. Therefore, several governments have established various incentives for exemptions from paying automobile taxes to ensure that more and more people purchase electric vehicles. On the other hand, manufacturers are working extra hard to lower the cost of producing electric cars and release more advanced models at competitive pricing. Therefore, the market for the equipment used to supply electric vehicles will grow due to these factors, which encourage the sale of electric cars.

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Key Insights:

A) As per the analysis shared by our research analyst, the Electric Vehicle Supply Equipment market is estimated to grow annually at a CAGR of around 30% over the forecast period (2022-2030).
B) In terms of revenue, the Electric Vehicle Supply Equipment market was valued at around USD 25 Billion in 2021 and is projected to reach USD 210 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The Electric Vehicle Supply Equipment market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
D) The study includes data on the significant market drivers, challenges, and opportunities and their effects.
E) The study elaborates on the SWOT analysis and Porter’s Five Forces model.
F) The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.

Press Release For Electric Vehicle Supply Equipment Market : https://www.custommarketinsights.com/press-releases/evse-electric-vehicle-supply-equipment/

Regional Landscape

Over the projection period, the European market is anticipated to experience spectacular expansion. This might be ascribed to expanding collaborations between automakers like Volkswagen Group, BMW Group, and Daimler AG for constructing rapid charging networks throughout Europe. Additionally, with the aid of electric vehicle supply equipment producers, oil firms like BP Plc and Royal Dutch Shell Plc are concentrating on integrating electric car charging stations at present gas and fueling stations. The European market is also anticipated to be driven by expanding Public-Private Partnerships (PPP) projects for constructing EVSE on roads.

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Key Players

Siemens AG
Delta Electronics Inc
BP Chargemaster
Schneider Electric
Tesla
Chargepoint Holdings Inc
Webasto Group
Leviton Manufacturing Co. Inc.
Eaton Corporation Plc
Abb Ltd

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The Electric Vehicle Supply Equipment Market is segmented as follows:

By Power

AC
DC

By Product

Portable Charger
Onboard Charging Station
EV Charging Kiosk
Others

By Charging Station

Normal Charging
Inductive Charging
Super Charging

By Application

Residential
Commercial

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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