China Electric Vehicle
charging infrastructure market is anticipated to grow at a steady CAGR in the
forecast period, 2023-2027. The Electric Vehicle charging infrastructure market
stood at USD5.21 billion in 2021. China is among the countries having the most
significant number of electric charging stations worldwide. The high sales of
electric vehicles and massive support from the government in the form of
subsidies and income tax rebates are the primary drivers for the China Electric
Vehicle charging infrastructure market. Also, the ongoing technological
advancements to advance the existing charging infrastructure and the rise in
the collaborations among original equipment manufacturers, automotive market
players, and charging infrastructure developers are expected to create significant
growth opportunities for the China Electric Vehicle charging infrastructure
market over the next five years.
Increased Sales of Electric
Vehicles Drives 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, Zhongshan in the
Pearl River Delta, and others which 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 personal 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
Supports 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 on a daily basis. 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.
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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 vehicle. 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 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.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, and CAGR for 2017-2021
and 2022-2027
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Vehicle Type
·
Type
·
Charging
Mode
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Installed
Location
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Connector
Type
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Type of Charging
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Regional scope
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East China, North China, North East China, South Central China,
North West China, South West China
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Key companies profiled
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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
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, China Electric
Vehicle charging infrastructure market has been segmented into 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:
- China Electric Vehicle Charging Infrastructure
Market, By Charging Mode:
- China Electric Vehicle Charging Infrastructure
Market, By Installed Location:
- 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:
- 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
Profiles: Detailed
analysis of the major companies present in China Electric Vehicle charging
infrastructure market.
Available Customizations:
With the given market data, TechSci
Research 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).
China Electric Vehicle
charging infrastructure market is an upcoming report to be released soon. If
you wish an early delivery of this report or want to confirm the date of
release, please contact us at [email protected]