The Market Growth Can be Attributed to the Rising Adoption of Electric Vehicles and the Increasing Focus of Public and Private Players on Expanding the Electric Vehicle Charging Infrastructure in the Country.
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Increased Sales of Electric Vehicles Drive the Market Growth
Consumers have started to invest in sustainable solutions due to the rise in pollution and environmental concerns. The depleting nature of fossil fuels and high prices accelerate the adoption of alternate energy fuels running vehicles. More than 30 cities had planned to achieve complete electrification of vehicles by 2020. It included cities like Hangzhou, Shaanxi, Guangzhou, Dongguan, Zhuhai, and Zhongshan in the Pearl River Delta, and others that had fueled the sales of electric buses and other public vehicles. Market players are launching electric vehicles with higher vehicle efficiency and battery capacity than the previous vehicles to capture the highest market share.The surge in the sales of electric vehicles has boosted the need to develop electric charging infrastructure in the country. The private and public players have increased their investments in research and development activities to manufacture faster and more efficient charging technologies. Even though many consumers prefer to install Level 1 or Level 2 charging stations for their purpose, there is still high demand for the development of public charging stations. The growing popularity of electric vehicles and the rise in the number of market players in the country are expected to bolster the growth of the China Electric Vehicle charging infrastructure market in the forecast period.
Favorable Government Policies Support the High Market Demand
With rapid urbanization and a rise in the sales of electric vehicles, China is experiencing growth in the electric vehicle market. China is also making efforts to reduce its dependence on oil & gas imports to make the country self-dependent, which is expected to accelerate the demand for electric vehicles in the country. Leading authorities are imposing strict restrictions and allowing a limited number of registrations for combustion engine vehicles per month to propel the sales of electric vehicles. Such as, in Beijing government, allows only 10,000 permits for the registration of electric vehicles. The government has also lifted the tax on the purchase of electric vehicles. For example, the government announced a 10% service tax waiver while buying electric vehicles in April 2020. Several electric vehicle stations are installed daily. Also, the demand for fast charging stations is on the rise. China has the biggest Electric Vehicle charging infrastructure and is continuously witnessing the massive installation of electric vehicle sales. The tremendous support from the government in the form of tax rebates and regulations, as well as the entry of international market players in the country, is expected to fuel the growth of China Electric Vehicle charging infrastructure market over the forecast period.Market Segmentation
The China Electric Vehicle charging infrastructure market is segmented into vehicle type, type, charging mode, installed location, connector type, type of charging, regional distribution, and competitive landscape. Based on vehicle type, the market is divided into two-wheeler, passenger car, and commercial vehicles. Based on type, the market is bifurcated into AC and DC. Based on charging mode, the market is divided into plug-in and wireless. Based on installed location, the market is divided into commercial and residential. Based on connector type, the market is divided into type 1, type 2, UK 3-Pin, CHAdeMO, CCS, and others. Based on the type of charging, the market is divided into slow and fast. To analyze the market based on the region, the China Electric Vehicle charging infrastructure market is studied in major regions namely East China, North China, North East China, South Central China, North West China, and South West China.Market Players
Qingdao Tgood Electric Co. Ltd., Tesla Inc., State Grid Corporation of China, BYD Co. Ltd, Xiaoju Charging (Xpeng Motors), Zhongchuang Sanyou, AnYo Charging, TELD New Energy Co. Ltd, Star Charge, ABB Limited, are the major market players operating in the China Electric Vehicle charging infrastructure market.Report Scope:
In this report, China Electric Vehicle charging infrastructure market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:China Electric Vehicle Charging Infrastructure Market, By Vehicle Type:
- Two- Wheeler
- Passenger Car
- Commercial Vehicle
China Electric Vehicle Charging Infrastructure Market, By Type:
- AC
- DC
China Electric Vehicle Charging Infrastructure Market, By Charging Mode:
- Plug-in
- Wireless
China Electric Vehicle Charging Infrastructure Market, By Installed Location:
- Commercial
- Residential
China Electric Vehicle Charging Infrastructure Market, By Connector Type:
- Type 1
- Type 2
- UK 3-Pin
- CHAdeMO
- CCS
- Others
China Electric Vehicle Charging Infrastructure Market, By Type of Charging:
- Slow
- Fast
China Electric Vehicle Charging Infrastructure Market, By Region:
- East China
- North China
- North East China
- South Central China
- North West China
- South West China
Competitive Landscape
Company Profile
Detailed analysis of the major companies present in China Electric Vehicle charging infrastructure market.Available Customizations:
With the given market data, the analyst offers customizations according to a company’s specific needs. The following customization options are available for the report:Company Information
- Detailed analysis and profiling of additional market players (up to five).
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Qingdao Tgood Electric Co. Ltd.
- Tesla Inc.
- State Grid Corporation of China
- BYD Co. Ltd
- Xiaoju Charging (Xpeng Motors)
- Zhongchuang Sanyou
- AnYo Charging
- TELD New Energy Co. Ltd
- Star Charge
- ABB Limited