World News: 15:43 GMT Tuesday 14th January 2020. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Jan. 14, 2020 (GLOBE NEWSWIRE) -- The report has been added to offering.
Electrification in Commercial Vehicles (CV) will increase globally with the framing of strict emission regulations. The need for the charging infrastructure is growing with the electric CV sales, and the market for charging equipment manufacturers is expected to open up with huge opportunities.
This study provides an overview of the key technology trends in the electric vehicle charging infrastructure market and also provides the demand forecast of charging stations and revenue forecast of the charging equipment market till 2030. Out of 4 charging types (plug-in charging, induction charging, pantograph charging, and battery swapping), plug-in charging is widely used, and hence, different types of plug-in charging are studied in brief. Electric CV sales will reach 2.18 million units globally by 2030, creating a huge demand for electric vehicle charging equipment, whose revenue is expected to grow to $885 billion globally, by 2030. This research study covers plug-in Alternating Current (AC) and Direct Current (DC) charging systems used for electric CV application.China will clearly dominate, driven mainly by aggressive incentive structures, both for electric vehicles and purchase and installation of charging equipment across highways. Europe and North America are expected to be the next largest markets after China.DC fast charging technology will be the widely adopted technology for CVs. Up to 350 kW ultra-fast DC chargers are developed to charge medium and heavy duty trucks. The next wave of charging technology, with more than 1 MW capacity, is under development by OEMs and charging equipment manufacturers. China is leading the electrification wave, with the introduction of new GB/T charging standard with capacity up to 900 kW.
Though high-capacity chargers are anticipated to be in place, the need for lower-power AC and DC charging units (up to 50 kW) will still exist in small quantities within cities; both fast and slow chargers will co-exist as the EV market expands. Charging associations like CHAdeMO and CHARIN are developing fast-charging technologies and standards to ensure interoperability of charging stations between various EV models.With the development of charging technology and growth of the electric vehicle charging equipment market, expectations from fleets will increase in the long term, including reduced charging time, geographical coverage, parking feasibility, and competitive pricing. Automakers, charging equipment manufacturers, and charging point operators are likely to collaborate in the near-to-short term to offer value-added offerings. Value-chain integration and ecosystem expansion will be the next focus.Along with technology advancements, intense competition is foreseen among equipment manufacturers to adopt technologies and gain market share. With increasing potential, government, oil and gas companies, utility companies, OEMs, and other value-chain participants will soon invest in expanding the charging infrastructure. The study also discusses about the revenue models and demand forecast of charging equipment units in detail.
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Globe Newswire: 15:43 GMT Tuesday 14th January 2020
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