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An Electric vehicle (EV) charging station infrastructure is also called electric recharging point or EV charging station. It is used to recharge EVs, which include electric cars, neighborhood EVs, plug-in hybrids, and others. For charging at home or work, some EV have onboard converters that can plug into a standard electrical outlet or a high-capacity appliance outlet. Others either require or can use a charging station that provides electrical conversion, monitoring, or safety functionality. These EV charging stations are also needed when travelling, and many support faster charging at higher voltages and currents as compared to residential Electric Vehicle Service Equipment (EVSEs). Public charging stations are typically on-street facilities provided by electric utility companies or located at retail shopping centers, restaurants, and parking places, operated by a range of private companies. EV charging station infrastructures are classified on the basis of charging levels such as level 1, level 2, and level 3.
Due to increase in fuel prices, environmental pollution, and global warming, many countries are encouraging people to use EV. Thus, this results in growth of EV charging station infrastructure market in nearby future. Governments initiate subsidies, tax benefits, and other plans, which are used to increase the adoption of EV. This drives the growth of the global electric vehicle charging station infrastructure market.
Factors such as better safety standards, ability to charge at work, charging point at home, option to fast charge, government incentives, and low cost for charging EV fuel the EV use and are further expected to increase the growth of the global EV charging station infrastructure market. Slower AC chargers in level 1 and level 2 charging stations, high cost of installation, and potential issues with cold weather operation in case of level 3 chargers are anticipated to hamper the growth of the EV charging station infrastructure market globally. Opportunities such as reduced time for charging the EV (100 miles in six minutes), increase in awareness among people, and introduction of solar PV are expected to foster the growth of the global EV charging station infrastructure market. Also, factors such as vehicle to grid power transfer during power cuts and energy storage may be the upcoming opportunities in the near future for global electric vehicle charging station infrastructure market.
The EV charging station infrastructure market is segmented on the basis of charging level, application, and region. On the basis of charging level, the market is categorized into level 1, level 2, and level 3. Based on application, it is divided into residential, commercial, and others. Region-wise, the global EV charging station infrastructure market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the manufacturing of EV charging station infrastructure are ChargePoint, Inc., ABB, BP PLC., Shell global, Webasto thermos and comfort, Hyundai motor company, RWE, Daimler Mercedes-Benz, Siemens AG, EVgo services LLC, and EV motors India Pvt. Ltd. These major companies are adopting a number of strategies such as product launch, services, partnerships, research, acquisition, and others to mark their presence in the market. Hyundai has partnered with car manufacturer Kia Motors, Inc. to develop a wireless EV charging system. Also, Hyundai recently invented solar charging system for cars, whereby solar panel is integrated into the car roof. ABB has introduced a range of charging solutions for fast charging of buses and cars. One of the big initiative in EV charging station infrastructure market is of EV motors India Pvt. Ltd. In 2018, the EV motors India Pvt. Ltd. announced to set up 6500 charging stations in India for the next 5 years.
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