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Electric vehicle battery charger supplies energy that is used to charge electric vehicle with the help of a battery and electrical source. Level 1, level 2, and level 3 are the various levels of charging widely used for the electric vehicle battery charging. The continuously increasing government regulations and consumer awareness regarding the use of electric vehicles to curb the environmental pollution, and rising fuel prices are the factors expected to boost the global Electric Vehicle Battery Charger Industry during the forecast period. The global Electric Vehicle Battery Charger Industry is estimated to witness ~14.3% CAGR from 2019–2025.
On the basis of electric vehicle type, the battery electric vehicle segment is expected to register the highest growth rate during the forecast period in the global Electric Vehicle Battery Charger Industry. This growth is attributed to its wide range of application in several types of vehicles, decreasing battery prices, and charging time. Additionally, the battery electric vehicles create a scope for power-sharing with the electric grid and can potentially ease the integration of sources of intermittent renewable energy.
On the basis of level of charging, the level 3 type segment is expected to register for the fastest CAGR during the forecast period in the global Electric Vehicle Battery Charger Industry. The increased demand for level 3 chargers from petrol station operators, motorways, street side charging, fleet vehicles and commercial users as this type of charger charge the vehicle from fully drained to 80% in less than 10 minutes. Furthermore, the shift in demand from AC charging to DC Charging is expected to fuel the demand for level 3 type of chargers.
On the basis of application, the public segment held the larger share in the global Electric Vehicle Battery Charger Industry. There is an increase in demand for public electric vehicle battery chargers from taxi stands, retail stores, government offices, and parking lots of workplaces, hotels, airports, shopping malls, fast food restaurants, and coffee shops. Furthermore, the public electric vehicle charger offers the convenience of being able to use an EV charger while shopping or during office hours. Thus, it is expected to boost the adoption of public electric vehicles chargers through the forecast period.
On the basis of region, the global market for electric vehicle battery charger is segmented into North America, Europe, Asia-Pacific, and the rest of the world. The Asia-Pacific region is expected to dominate the Electric Vehicle Battery Charger Industry through the forecast period.
The prominent players in the global Electric Vehicle Battery Charger Industry are CTEK Holding AB (Sweden), Delphi Automotive LLP (Ireland), Clore Automotive LLC (US), Robert Bosch GmbH (Germany), Current Ways Inc. (US), IES Synergy (France), Meta Systems S.P.A (Italy), LG Electronics (South Korea), Ficosa Internacional SA (Spain), Lear Corporation (US), Baccus Global LLC (US), Tesla (US) and Schumacher Electric Corporation (US).
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