Car chargers are essential components of hybrid and electric
vehicles. In terms of charging, there five notable types such as
battery swapping charging, plug-in charging, wireless, direct current
(DC) and alternating current (AC). AC charging dominates the global
car
charger market due to its rising acceptance among electric
car owners. In countries such as North America and Europe, there has
been an increase in the rate of AC charging infrastructure
installations at homes, parking areas, parks and commercial areas.
Moreover, in the coming years, AC charging infrastructures are
expected to be installed in roads so that the car can charge itself
while in motion. DC charging, is a faster method of charging a
vehicle. It is comparatively a better alternative to AC charging.
However, DC charging, lacks the kind of infrastructure as installed
for AC charging in homes and other places. Wireless charging ensures
reduction in the loss of transmission in vehicles and is hassle-free,
compatible and light weight. Such a charging medium is considered
expensive and is yet to get commercialized at a large scale.
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Increasing production of hybrid and electric vehicles, and rising
demand for passenger hybrid-electric vehicles is a major driving
factor for the car charger market. In addition, strict government
guidelines and automobile standards relating to hybrid and electric
vehicles is a major factor influencing the car charger market. Growth
in the automotive sector and rising investments in car charger
manufacturing companies across the world is set to influence the
market significantly during the forecast period. However, lack of
penetration of hybrid and electric vehicles in numerous countries
across the world is inhibiting the growth of car chargers market,
which finds application in aforementioned vehicles. In addition,
cheap substitutes of original car chargers is another major restraint
for the global car charger market.
The car charger market can be classified by charging type, by
application and by geography. The charging type segment can be
classified into battery swapping charging, plug-in charging,
wireless, direct current (DC) and alternating current (AC). By
application, the market can be segregated as passenger vehicles,
light commercial vehicles and heavy commercial vehicles. By
geography, the market can be segmented into North America, Europe,
Asia Pacific, Middle East and Africa and Latin America.
In the car charger market, Asia Pacific holds the largest market
share in terms of revenue followed by North America, Europe, Latin
America and, Middle East and Africa (MEA). In the Asia Pacific
region, countries such as China and Japan are considered to be the
leading manufacturers of car chargers across the world. The market in
North America and Europe tends to be a bit saturated but the market
is expected to remain stable during the forecast period. By the end
of the forecast period, Middle East and Africa, and Latin America are
expected to show significant growth, considering the growth in
automotive sector and rising application of car chargers in vehicles
manufactured in the aforementioned regions.
The report also provides company market share analysis of the various
industry participants. Acquisition is the main strategy being widely
followed by leading market players. In case of an acquisition, the
acquirer takes advantage of existing synergies. As a result, both
companies are expected to emerge more profitable and stronger than
before. Key players in the global car charger market have been
profiled and their company overview, financial overview, business
strategies and recent developments have been covered in the report.
Major market participants profiled in this report include: Leviton
Manufacturing Co., ABB Group, Evatran Group, Bosch Group, Siemens AG,
Energizer Holdings Inc., Intel Corporation, LG Electronics Inc.,
Qualcomm Inc., Schneider Electric SE, General Electric Company, Sony
Corporation and AeroVironment, Inc., among others.
The report offers a comprehensive evaluation of the market. It does
so via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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