ReportsnReports.com adds Electric Vehicle Charging Stations Market is forecast to reach USD 30.41 billion by 2023 from USD 5.3 billion in 2018 at a CAGR of 41.8 percent during (2018-2023) driven by the government funding, subsidies, and incentives, growing demand for electric vehicles, growing concern toward environmental pollution, and heavy investment from automakers in EVs.
The major players in the electric vehicle charging stations market include Charge Point (US), ABB (Switzerland), Tesla (US), Engie (France), Aero Vironment (US), Schneider Electric (France), Siemens (Germany), Efacec (Portugal), EVgo (US), Leviton (US), Alfen (Netherlands), Allego (Netherlands), Blink Charging (US), Clipper Creek (US), Sema Connect (US), and TGOOD (Hong Kong).
The electric vehicle charging stations market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The rapid expansion of EV charging stations in China supports the growth of electric vehicle charging stations market in APAC. The country aims at installing approx. 500,000 public EV charging stations by 2020. Furthermore, other Asian countries, such as India, Thailand, and Singapore, have announced their investment plans to develop EV charging infrastructure. These factors are expected to drive the growth of the electric vehicle charging stations market in APAC.
The market for DC charging stations is expected to grow at a higher CAGR between 2018 and 2023. The ability of DC charging stations to charge an electric vehicle (EV) in lesser time compared to AC charging stations is the primary driving factor for the high growth rate of former in the electric vehicle charging stations market. Also, the increasing popularity of public charging stations is boosting the demand for DC charging stations.
The research report on the Electric Vehicle Charging Stations Market analyzes and forecasts the market based on charging station, installation type, and region. Based on charging station, the market has been segmented into AC charging station and DC charging station. On the basis of installation type, the electric vehicle charging stations market has been classified into residential and commercial. The report also provides a detailed analysis of the electric vehicle market based on vehicle type and region. Based on region, the electric vehicle and electric vehicle charging stations market has been classified into 4 major regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Another research titled Energy Efficient Motor Market Global Forecast to 2023 says, The energy efficient motor market is expected to reach USD 41.57 billion by 2023 from USD 30.34 billion in 2018, at a CAGR of 6.5 percent between 2018 and 2023. The key factors driving the growth of the energy efficient motor market are saving on energy and subsequent cost over traditional motors, increasing support from governments worldwide for the adoption of energy efficient motor, rising need to diminish greenhouse effect, and increasing adoption of energy efficient motors in the industrial sector. The US, Canada, and Mexico are the major contributors to the North American energy efficient motor market.