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APAC Electric Charging Station Market Analysis | CMI


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Title: APAC Electric Charging Station Market Analysis | CMI

  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

  • APAC Electric Charging Station Market, by
    Charging Station Type (AC Charging, DC Charging,
    and Wireless Charging), by Technology Type
    (Level 1, Level 2, and Level 3 ), by End User
    (Private and Public), and by Country (China,
    Japan, ASEAN, Australia, South Korea, and Rest of
    Asia Pacific) - Size, Share, Outlook, and
    Opportunity Analysis, 2018 2026
  • An electric vehicle charging station provides
    electric energy for the recharging of electric
    vehicles, including electric cars, neighborhood
    electric vehicles, and plug-in hybrids. It is
    also called as EV charging station, electric
    recharging point, electronic charging station
    (ECS), and electric vehicle supply equipment

  • APAC Electric Charging Station Market is expected
    to witness significant growth during the forecast
    period (20182026). This is majorly attributed to
    rising demand for electric vehicles. The usage of
    electric vehicle is beneficial to environment and
    health, as electric vehicles do not pollute the
    environment. Furthermore, these charging stations
    are more economical, as they save costs of fuel.
    Once the electric supply is setup, it can be
    utilized for long period of time.

Figure 1. APAC Electric Charging Station Market
Share (), by Region (2017 2026)
Market Opportunities
  • Increasing demand for electric vehicles is
    expected to aid in growth of the APAC electric
    charging station market
  • Increasing air pollution is one of the hazardous
    problems faced by Asia Pacific region, wherein
    vehicles are a major factor contributing to air
    pollution. Replacing conventional fuel-based
    vehicles with new generation electric vehicle is
    an important step towards air pollution control,
    as electric vehicles does not emit any polluting
    gases. Increasing number of electric vehicles
    results in rising demand for electric power

  • Considering the environmental and economic
    benefits of electric vehicle and charging
    stations, governments are introducing new
    policies to boost the market growth. The
    Government of India introduced schemes such as
    Faster Adoption Manufacturing of Hybrid and
    Electric Vehicles (FAME) in 2015 and second phase
    FEMA II in 2017 to support growth of the electric
    vehicle market.
  • As per Coherent Market Insights analysis,
    electric charging station market is expected to
    grow at a rapid pace over the forecast period.
    This growth is attributed to increasing need for
    vehicles run using renewable energy, which is
    expected to aid in growth of the APAC electric
    charging station market.

Figure 2. APAC Electric Charging Station Market
Share (), By Technology Type (2017 2026)
  • Level 2 charging stations is more popular choice
    among consumers

Market Trends and Drivers
  • Considering the technology, the market is divided
    into level 1, level 2, and level 3. Among these,
    the application of level 2 charging stations has
    the highest usage rate in the past few years.
    These stations are efficient than level 1 and
    more economical than level 3 charging stations.
    Therefore, the demand for level 2 charging
    stations is expected accelerate over the forecast
    period. However, level 3 charging stations are
    becoming popular, as the market gears to embrace
    technological advancements in the future.
  • China is expected to account for the largest
    market share in the APAC electric charging
    station market, while India is expected to
    witness fastest growth over the forecast period.
    The presence of large number of electric vehicles
    in China and increasing need for eco-friendly
    transport medium are some of the key factors
    driving the market growth.
  • In India, the highest growth is attributed to
    various factors such as rapid acceptance of
    electric vehicles, increasing pollution control
    policies, and heavy investment by governments and
    private investors.

Market Restraints
  • Lack of a sustainable business and financing
    model, and lack of infrastructure are major
    restraining factors affecting market growth
  • Lack of good sustainable business and financial
    model is a major drawback affecting growth of the
    APAC electric charging station market. Users are
    cautious of using electric vehicles because of
    the limited range they offer. Complete charging
    of an electric vehicle anywhere takes from 15
    minutes to several hours, hence public charging
    station needs other facilities and infrastructure
    to keep the customers busy.
  • Lack of infrastructure is also a restraining
    factor affecting the market growth. Charging
    stations must be provided at all the public
    platforms such as bus stations, airports, parking
    areas, hospitals, universities, parks, and other

Key Players
  • Some of the key players operating in the APAC
    electric charging station market include
    PluginIndia.com, Greenlots, Mitsubishi Motors
    Corporation, ChargePoint, Inc., NARI Technology
    Co., Ltd, Blink Charging Co, Toshiba Corporation,
    Magenta Power, Star Charge, and Efacec among

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