Analysis of The Electric Vehicle Charging as A Service Market Size by Research Nester Reveals the Market to Grow with a CAGR of approximately 18% During 2024-2036 and Attain Around 113.9 Billion by 2036
Research Nester assesses the growth and market size of the global electric vehicle charging as a service market which is anticipated to be on account of the increasing demand for electric vehicles globally.
Research Nester’s recent market research analysis on “Electric Vehicle Charging as A Service Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global electric vehicle charging as a service market in terms of market segmentation voltage level of charging, charging point, application, charging infrastructure, dc fast charging, internet connectivity, charging service; electric bus charging type, charging type, class, drive type and by region.
The Rising Demand for Electric Vehicles (EVs) Will Increase the Global Market Share of the Electric Vehicle Charging as A Service Market
The need for EV charging stations and electric vehicle charging as a service is rising as more and more people use electric vehicles (EVs) worldwide. 17.07 million automobiles will be sold by 2028. EV charging station demand is also being driven by environmental concerns and the desire to reduce greenhouse gas (GHG) emissions. For this reason, the market’s leading companies are heavily investing in the creation of EV charging stations.
Some of the major growth factors and challenges that are associated with the growth of the global electric vehicle charging as a service market are:
Growth Drivers:
- Increasing Focus on Sustainability in Automotive Industry
- Rising Inclination to Switch Fossil Fuel
Challenges:
A significant quantity of power is consumed as a result of electrifying vehicles. Grid capacity will need to be greatly enhanced in order to accommodate the growing number of electric cars. The upgrade will be able to handle a spike in the charging demand in some areas at any given moment. To meet these demands, utilities will have to modernize their transmission and distribution networks.
The electric vehicle charging as a service market is divided into two segments based on the application of Private and Personal. The private segment will have a massive rise during the forecast period due to the rising prevalence of private electric stations globally. The availability of public charging stations will need to grow along with the growth of EV markets. Nowadays, homes and businesses are the primary locations for EV charging. Customers will come to expect EVs to provide the same level of autonomy, ease of use, and services as they do with traditional cars.
By region, the APAC electric vehicle charging as a service market is to generate the highest revenue with a percentage of almost 60% by the end of 2036.
Over the anticipated period, the electric vehicle charging as a service industry is expected to experience major growth in the North American region as well. It is projected that North America will experience notable expansion over the projected timeframe. Many of the major competitors in the industry are based in North America. Furthermore, businesses in North American nations are making significant investments in electric cars and associated businesses, which is fostering the expansion of the area.
This report also provides the existing competitive scenario of some of the key players of the global electric vehicle charging as a service market which includes company profiling of
- Tesla,
- Volkswagen AG,
- SAIC Motors,
- BYD Company Ltd.,
- Stellantis NV,
- Ford Motor Company,
- ABB Group,
- ChargePoint, Inc.,
- Shell International BV
Source: https://www.researchnester.com/reports/electric-vehicle-charging-as-a-service-market/6235
