Global EV Charging Adapter Market Set For Rapid Growth, To Reach Around USD 11,985.89 Million By 2024

17-Aug-2018 | Zion Market Research

Zion Market Research has published a new report titled “EV Charging Adapter Market by Type (AC Charging Adapter and DC Charging Adapter) and by Application (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle), Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the Global EV charging adapter market was valued USD 833.14 million in 2017 and is expected to reach around USD 11,985.89 million by 2024, growing at a CAGR of approximately 47.6% for the forecast period from 2018 to 2024.

EV charging adapters are of different types such as Type 2 – Type 1 Adapter, Type 1 – Type 2 Adapter, and DC fast charger. Type 2 – Type 1 Adapter allows any Type 1 EV to charge with a Type 2 charging plug. It is suitable for either 16A or 32A use. Type 1 – Type 2 Adapter allows any Type 2 EV to charge with a Type 1 charging plug. It is applicable for either 16A or 32A use. It is supplied with a small combination padlock to secure the adaptor to the car whilst charging. The demand for EV charging adapter has increased as the electric vehicles market share is increasing rapidly. In addition, with the advancement in technology, many companies are focusing on developing smart EV charging adapters which enable real-time data monitoring and enables efficient and rapid charging. 

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Global EV Charging Adapter Market

The major factor driving the growth of EV charging adapters market is increasing demand for electric vehicles. Environmental pollution control has become one of the major concerns in today’s world as rising pollution due to vehicular emissions is forcing the governments to introduce new rules and regulations for automobile manufacturers for emissions control. Various environmental benefits along with increased investments in the development of charging infrastructure by governments and OEMs is further boosting the demand for electric vehicles. However, availability of charging stations and a high cost of electric vehicles are presently restraining the growth of this market. Manufacturers are focusing to improve battery and charging infrastructure to enable rapid charging and improved efficiency and reliability on the structure.

AC charging adapter and DC charging adapter are the type segment of the EV charging adapter market. Further, on the basis of application, EV charging adapter market is segmented into the plug-in hybrid electric vehicle, battery electric vehicle, and fuel cell electric vehicle. Furthermore, on the basis of region, the market is categorized into five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

North America and Europe have emerged as the most dominating regional markets for EV charging adapter. The growth in these regions is mainly due to the highly developed infrastructure such as public charging stations and positive governmental initiatives for sales of the electric vehicles and strict rules and regulations for the automobile manufacturers for vehicular emissions. Further, Asia Pacific is expected to emerge as the fastest growing regional segment for the EV charging adapter market. Presently, China is the largest market for electric vehicles in the Asia Pacific region.

The major players in the EV charging adapter market are ABB Ltd., POD point, Robert Bosch, AddÉnergie Technologies, AeroVironment Inc., Delphi Automotive, ChargePoint, Eaton, Efacec, Leviton Manufacturing, and Signet Electronic Systems and others among others.

The report segments the EV charging adapter market as follows:

Global EV Charging Adapter Market: Type Segment Analysis

  • AC Charging Adapter
  • DC Charging Adapter

Global EV Charging Adapter Market: Application Segment Analysis

  • BEV (Battery Electric Vehicle)
  • PHEV (Plug-in Hybrid Electric Vehicle)
  • FCEV (Fuel Cell Electric Vehicle)

Global EV Charging Adapter Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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