The Asia-Pacific electric vehicle charger market is anticipated to grow with a significant CAGR of over 24.0% during the forecast period (2019-2025). China is expected to contribute substantially to the growth of the market owing to the presence of various charger manufacturing companies and the country’s manufacturing capacity to produce a large number of chargers for domestic and international needs.
Further, favorable government initiatives to make China- electric vehicle hub coupled with government subsidies on the purchase of the electric vehicle is expected to propel the Asia-Pacific vehicle charger industry over the forecast period. Other leading economies in the region including Japan, India, South Korea, and ASEAN countries are also contributing significantly to the market growth. For instance, in November 2020, the government of South Korea announced its plan to ramp up the number of electric vehicle chargers to 50% of electric vehicles by 2025.
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The primary factor restraining the adoption of electric vehicles is concern about their limited range. Owing to this concern, the South Korean government is aggressively ramping up electric vehicle charging infrastructure. On the other hand, In India, TATA Motors an automobile manufacturer has already started developing charging infrastructure in Tier 1 cities, due to which it can escalate the sales of its electric cars including Tigor EV and Nexon EV.
Market Coverage
- The market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
Segment Covered-
- Ownership
- Charger type
- Connector
- Region Covered- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific)
- Competitive Landscape- ABB Ltd., Tesla, Inc., Siemens AG, Robert Bosch GmbH, Eaton Corp.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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A full Report of Asia-Pacific Electric Vehicle Charger Market is Available at: https://www.omrglobal.com/industry-reports/asia-pacific-electric-vehicle-charger-market
Asia-Pacific Electric Vehicle Charger Market Report Segment
By Ownership
- Public
- Private
By Charger type
- Slow Charger
- Fast Charger
By Connector
- AC Connectors
- Type 1
- Type 2
- Other (Domestic Socket)
DC Connectors
- CHAdeMO
- Combined Charging Systems
- Type 2 (Tesla)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
