Jul 25, 2017
Key Highlights on Future of Electric Car Battery Chargers Market
by Team Fact.MR
Mutual inclination of consumers and manufacturers towards green & sustainable technologies is influencing the global market for electric car battery chargers. Fact.MR’s recent report on the global electric car battery charger market elucidates the impact of shifting focus towards green technology and also weighs the influence of innovative battery charging technologies in the automotive sector. Manufacturers of electric car battery chargers are expected to benefit from impact of rising adoption of new mobility solutions on new car sales. The report also indicates that rising complexity in production of electric car battery chargers is compelling OEMs to introduce more derivatives to their existing car battery charger offerings.
According to the report, the global market for electric car battery chargers is expected to bring in nearly US$ 1,000 Mn revenues by the end of 2017. The report assesses that the global electric car battery charger market is pegged to soar at a steady CAGR from 2017 to 2022, registering an estimated value of US$ 1,249.8 Mn towards the end of 2022. Growth in demand and production of electric car battery chargers will also be influences by macroeconomics such as fluctuating oil prices, impact of economic downturns on investors, lack of sustainable supply chain, and commodity price inflation.
The report delivers an insightful forecast on the future of electric car battery chargers, highlights from which are as follows:
- Europe is expected to be observed as the largest market for electric car battery chargers through 2022. The electric car battery charger market in Europe is estimated to account for nearly one-third of global revenues by the end of 2017.
- During the assessment period, Japan’s electric car battery chargers market is anticipated to create an absolute incremental opportunity of US$ 15 Mn.
- Based on the charging type, demand for automatic charging is expected to gain traction. In 2017 and beyond, global sales of electric car battery chargers with automatic charging will witness an annual value growth of US$ 40 Mn. By the end of 2022, this segment will attribute to nearly 84% of global market value, registering the largest absolute growth.
- In 2017, more than three-fifth of global electric car battery charger market value is anticipated to arise from global sales of float chargers. Smart chargers, on the other hand, will witness steadfast adoption in developed economies across Europe.
- Globally, home applications of electric car battery chargers will showcase revenue growth at a moderate CAGR. In 2017, the application of electric car battery chargers in public facilities will ascribe to nearly one-fourth of global market revenues.
- Chargers for car batteries with 12V-48V power capacity range will be in great demand, attributing to a global revenue share of 85% by the end of 2017.
- The report also profiles key players in the global electric car battery chargers market, which include Chargemaster Plc., ClipperCreek Inc., EVgo Service LLC, ChargePoint Inc., Schneider Electric S.E., Tesla Inc., Sema Connect Inc., Leviton Manufacturing Co., Inc., POD Point Ltd., ABB Ltd., Delphi Automotive Plc., and General Electric Company.