Mutual inclination of consumers and manufacturers towards green & sustainable technologies is influencing the global market for electric car battery chargers. Fact.MR’s recent report on the global electric car battery charger market elucidates the impact of shifting focus towards green technology and also weighs the influence of innovative battery charging technologies in the automotive sector. Manufacturers of electric car battery chargers are expected to benefit from impact of rising adoption of new mobility solutions on new car sales. The report also indicates that rising complexity in production of electric car battery chargers is compelling OEMs to introduce more derivatives to their existing car battery charger offerings.
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The report delivers an insightful forecast on the future of electric car battery chargers, highlights from which are as follows:
- Europe is expected to be observed as the largest market for electric car battery chargers through 2022. The electric car battery charger market in Europe is estimated to account for nearly one-third of global revenues by the end of 2017.
- During the assessment period, Japan’s electric car battery chargers market is anticipated to create an absolute incremental opportunity of US$ 15 Mn.
- Based on the charging type, demand for automatic charging is expected to gain traction. In 2017 and beyond, global sales of electric car battery chargers with automatic charging will witness an annual value growth of US$ 40 Mn. By the end of 2022, this segment will attribute to nearly 84% of global market value, registering the largest absolute growth.
- In 2017, more than three-fifth of global electric car battery charger market value is anticipated to arise from global sales of float chargers. Smart chargers, on the other hand, will witness steadfast adoption in developed economies across Europe.
- Globally, home applications of electric car battery chargers will showcase revenue growth at a moderate CAGR. In 2017, the application of electric car battery chargers in public facilities will ascribe to nearly one-fourth of global market revenues.
- Chargers for car batteries with 12V-48V power capacity range will be in great demand, attributing to a global revenue share of 85% by the end of 2017.
12v-48v batteries have lion’s share of automotive battery charger market
The 12v-48v segment will account for a revenue share of 85% of the battery capacity segment of the automotive battery charger market with a stable CAGR during the course of the study period. The 12v-48v segment is likely to be slightly above the one billion dollar mark by 2022 in terms of value from around US$ 810 million in 2017. As is the case with automatic chargers, Europe holds a 1/3rd share in this dynamic segment of the automotive battery charger market.
Competition Tracking
The report has also profiled key companies partaking in the growth of global electric car battery charger market, which include Delphi Automotive PLC, ABB LTD, Schneider Electric S.E., General Electric Company, Tesla Inc, Leviton Manufacturing Co., Inc., POD Point Ltd., Sema Connect Inc., EVgo Service LLC., ClipperCreek Inc., ChargePoint Inc., and Chargemaster plc.
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