Global EV charging adapter market 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.
The report analyzes and forecasts the EV charging adapter market on a global and regional level. The study offers historical data from past years along with the forecast from 2018 to 2024 based on revenue (USD Million). Assessment of the market dynamics gives a brief thought about the drivers and restraints for the EV charging adapter market along with the impact they have on the demand over the forecast period. Furthermore, the report includes the study of opportunities available in the EV charging adapter on a global level.
The report gives a transparent view of the EV charging adapter market. We have included a detailed competitive scenario and portfolio of prominent vendor’s operative in EV charging adapter market. To understand the competitive landscape of the EV charging adapter market, an analysis of Porter’s Five Forces model for the market has also been included. The report offers a market attractiveness analysis, wherein type, application, and regional segments are benchmarked based on their general attractiveness, market size, and growth rate.
The study provides a crucial view of EV charging adapter market by segmenting the market based on type, application, and regional segments. All the type, application, and regional segments of the EV charging adapter market have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. The type segment of the global EV charging adapter market includes an AC charging adapter and a DC charging adapter. Further, based on the application, the global EV charging market is segmented into BEV (battery electric vehicle), PHEV (plug-in hybrid electric vehicle), and FHEV (fuel cell electric vehicle). The market is analyzed based on five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the EV charging adapter market are ABB, AeroVironment, Robert Bosch, Delphi Automotive, AddÉnergie Technologies, ChargePoint, Eaton, Efacec, Leviton Manufacturing, POD point, 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
Global EV Charging Adapter Market: Application Segment Analysis
Global EV Charging Adapter Market: Regional Segment Analysis
Electric Vehicle (EV) charging adapter is a type of adapter which is used to charge the electric vehicles. Basically, they are classified into two types namely AC charging and DC charging. Sometimes, these adapters are further bifurcated into type 1 and type 2 charging adapters. In last few years, electric vehicles have emerged as a prominent alternative option for an internal combustion engine. Electric vehicles are more environment-friendly and energy efficient and require very less maintenance as compared to the vehicles with an internal combustion engine. Due to increasing pollution, electric vehicles are a better option compared to a combustion engine for the mode of transport. These vehicles need to be charged to run the motor continuously.
The increasing prices of fuels and rising environmental pollution are resulting in the growing number of electric vehicles but the only thing which is holding back electric vehicle adoption was lack of public charging stations. Many companies and governments are now investing in developing charging infrastructure to allow people to charge their vehicle according to their convenience. This is one of the factors driving the EV charging adapter market. Also, the increasing number of electric vehicles in different countries and growing demand for the charging units has led the growth of the market. Furthermore, the involvement of the governments to raise the awareness among the people for the use of green fuel is anticipated to further fuel the growth of this market. However, high manufacturing cost and less range of the electric vehicles are restraining the growth of the market. Technological advancements and rising demand for the electric vehicles and their charging station have created significant potential opportunities for the growth in EV charging adapter market.
The global EV charging adapter market is segmented into type, application, and regions. The type segment of the global EV charging adapter market includes an AC charging adapter and a DC charging adapter. Further, based on the application, the global EV charging market is segmented into BEV (battery electric vehicle), PHEV (plug-in hybrid electric vehicle), and FHEV (fuel cell electric vehicle). Furthermore, on the basis of region, the market is divided into five regions namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
By geography, North America is presently the largest revenue generating segment for the EV charging adapter market followed by Europe. Both North America and Europe are dominating the EV charging adapter market globally as these regions have proper developed EV charging infrastructures such as public charging stations and government involvement in the electric vehicle market segment for various promotional activities. Further, the Asia Pacific region is expected to emerge as the fastest growing regional segment for the EV charging adapter market as China is dominating the region for the maximum number of sales of light electric vehicles among the other countries.
Some of the key players in this industry are ABB Ltd., POD point, Robert Bosch, AddÉnergie Technologies, AeroVironment Inc., Delphi Automotive, ChargePoint, Eaton, Efacec, Leviton Manufacturing, and Signet Electronic Systems, and others.
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