Automobile giants are eager to develop solid infrastructure to meet the needs of these electric vehicles as sales of these vehicles increase around the world. More people driving electric cars mean more investment in charging stations. Significant developments in indoor and outdoor charging are also anticipated throughout the projection period to keep up with customer demand.
Developed nations like North America and Western Europe have seen a rapid increase in the number of publicly accessible charging stations that satisfy charging demands through high voltage and high currents. Technology pioneers are also working to speed up the charging process for electric vehicles and improve the charging infrastructure needed to support them.
When viewed through the lens of a product life cycle, the market for electric car charging stations is still in the expansion phase, where it is likely to stay lucrative and opportunistic as a result of the substantial ongoing research and development in the technological field. Over the next few years, the market’s laggards are likely to follow the lead of the industry’s top dogs and concentrate on building faster-charging stations for electric vehicles.
Manufacturers of electric vehicles are also working on plans to increase sales by offering free charging to a big number of potential buyers. Over the projection period, the expansion of the electric vehicle charging stations market is also predicted to be boosted by such measures, as well as by the healthy macroeconomic environment supporting the growth of the electric vehicles industry.
The market for Charging Stations for Electric Vehicles
Government incentives and subsidies to boost sales of electric vehicles are projected to be a major driver of the worldwide electric vehicle charging stations market. There will be a surge in interest in the industry over the next few years as key firms take strategic steps to make charging their electric vehicles free of charge. Sales of AC electric vehicle charging stations are likely to increase substantially throughout the projection period as more and more EV owners, notably in North America and Europe, opt to charge their vehicles at home.
There are only a few companies dominating the market for EV charging stations at the moment, which means that the industry as a whole lacks standards. This, in turn, is projected to slow the market’s expansion. The expansion of the industry may also be hampered by the fact that DC charging stations are more expensive than standard electric vehicle charging stations.
With Statiq, stores can easily connect with EV drivers and keep tabs on charging
The networked nature of the Statiq, electric vehicle charging station manufacturers in India allows for the inclusion of numerous high-tech enhancements. One of them, called Connections, enables grocery stores to virtually provide special offers to electric vehicle (EV) drivers who visit their stations through digital communication. With these discounts, savvy stores provide customers another reason to choose their goods and services over those of their competitors.
The added features, such built-in monitoring and reporting, are only one of the many advantages of networked stations. Staff at the supermarket can relax knowing that the stations are always functioning and that they can easily track how many customers use the stations and at what times. Investment in charging is justified by reports that include information on greenhouse gas emissions avoided and electricity savings.
After private homes, charging stations for business vehicles make up a sizable portion of the private EV charging market. For light commercial vehicles, buses, and trucks, overnight AC charging is recommended, although DC charging is favored in the case of opportunity charging. If the need for such cars to be charged continues to rise, this tendency is likely to persist.