Electric Vehicle Supply Equipment Market Demand and Future Trends Report by 2025

The “Electric Vehicle Supply Equipment (EVSE) Market” report gives a massive source to analyze the industry and other fundamental technicalities identifying with it. The examination discloses the total assessment and veritable parts of the Electric vehicle supply equipment (EVSE) market. This study exhibits a straightforward outline of the industry, that integrates applications, blueprints, industry chain structure, and definitions. This report prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.

 

The global electric vehicle supply equipment (EVSE) market size is projected to attain USD 104.3 billion, by the end of 2025, and is anticipated to grow at a CAGR of 33.1% over the forecast period, between 2019 and 2025, according to a new report by Million Insights. The market is driven by development in charging infrastructure and equipment at different locations like national parks, shopping malls and hotels. In addition, increasing demand for EV equipment along with advanced technological innovation in charging solutions is projected to boost the market growth. For example, in 2017, Qualcomm Inc. has developed a wireless EV charger.

 

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FMCG and logistics companies are highly adopting EV supply equipment which includes Frito-Lay and FedEx. Frito-Lay has built charging solutions across Albany, New Paltz, Rochester, and Bronx. In addition, rising investment support from government agencies into a logistics company for better fleet management is expected to boost the market growth. Moreover, the rising adoption of electric vehicles for high mobility and the development of automated cars are expected to positively impact on market growth.

 

Declining prices of lithium-ion battery is also projected to create huge opportunities for market growth. For example, in 2018, united parcel services have increased its number of EVs to 170 from 65. This growth is supported by smart grid technology development in charging solutions. The project is developed by the partnership between the UK power network and cross river partnerships. These initiatives are anticipated to bolster the demand for supply equipment in electric vehicles (EVSE).

 

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