About the Report: Global Electric Car Battery Charger Market
A new research intelligence outlook that has been recently added to the Fact.MR repository offers a holistic view of the global market for electric car battery charger. FMR’s report on the electric car battery charger market examines the global market fir electric car battery charger over the five-year projection period 2017-2022, and entails an all-inclusive, insightful information on the current as well as futuristic growth prospects of the electric car battery charger market during the said tenure.
Fact.MR’s analysis of the global electric car battery charger market indicates that the float type electric car battery charger will continue to spearhead in terms of demand from electric car owners in the market, whereas automatic electric car battery charger will maintain their lead over manual electric car battery charger over the forecast period. On the other side, the portable electric car battery charger is also expected to witness continued traction attributed to its high capacity and high accessibility. A moderate CAGR is expected to enable the global electric car battery charger market revenue to expand, reaching beyond US$ 1.2 Bn by 2022 end.
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Market Definition: Electric Car Battery Charger
Electric car battery charger is a device that is used for providing the electric supply to electric-powered cars, through a rechargeable battery. A crucial component in the emergency kits of electric cars, an electric car battery charger can be available in diverse capacities and forms to cater to multiple demands of car drivers.
Competition Tracking: Global Electric Car Battery Charger Market
As key developments in electric cars and electric car battery markets continue to influence the scope for electric car battery charger market to a great extent, growing inclination of manufacturers towards sustainability will also remain imperative for the manufacturers of electric car battery charger manufacturers. Electric car battery charger manufacturers have been striving to address longstanding concerns regarding compatibility, efficiency, and costs – with each innovation.
Electric vehicle manufacturers first extended a concerted effort to introduce a universal EV charging port that took hours to recharge electric car batteries. While manufacturers of both, the electric cars and electric car batteries have recognized that the future of electric car market exists in faster charging capabilities, strong efforts towards the innovation of faster recharging electric car battery charger are in the pipeline. Japan registered to be the first introducer of DC Fast Charging, and this innovation involved two of the automotive giants – Mitsubishi and Nissan. Fact.MR uncovers the developmental strategies of a range of competitors in the global electric car battery charger market landscape, some of which include Delphi Automotive PLC, Schneider Electric S.E., General Electric Company, and others.
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Key Insights on Global Electric Car Battery Charger Market
World’s Fastest Electric Car Battery Charger Innovation to Power up Electric Car Battery Charger Market
The challenges that come along the entire process of setting an appropriate charging infrastructure, will persist in tandem with the accelerated transition of automakers to vehicle electrification. According to industry experts, to address the ever-prevailing challenge of the imbalance between electric cars and electric car battery chargers, manufacturers of both electric cars and electric car battery chargers ought to extend mutual efforts in the development of turnkey electric car battery charger solutions in the near future. Although several fast charging battery innovations (latest by Toshiba) have been supporting the growth of electric car battery space, FMR indicates that the much-needed innovation in the specific area of electric car battery charger will possibly push the electric car battery charger market scenario in the near future.
ABB, the Swiss firm, recently announced to have created the fastest ever electric car battery charger that has been claimed to perform superiorly to Tesla’s Supercharger. ABB’s fastest electric car battery charger supposedly performs 3X quicker than the Supercharger – powering up an electric car battery within roughly eight minutes – adding over 100 miles to the existing electric car range. As this electric car battery charger is being claimed to be ideal for petrol stations and highway-based electric car battery charger stations, FMR anticipates this innovation to shape the demand for electric car battery charger through 2022.
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Europe to Maintain an Attractive Position in Electric Car Battery Charger Market
Nearly a year after China reached the milestone in terms of electric car sales, Europe has recently registered drastic growth in its electric car parc– exceeding 1 million, as the total electric car sales in Europe surge by over 40%. The US, as an electric car battery charger market, will however possibly reach this landmark by the second half of 2018, looking at the scenario originated post introduction of Tesla’s new EV model. European electric car battery charger market is foreseen to spearhead globally throughout the assessment period, especially in terms of float type electric car battery charger sales.
Moreover, this region is likely to push the sales of smart electric car battery charger through 2022. As indicated by FMR’s study on electric car battery charger market, automatic electric car battery charger is also slated to demonstrate promising performance in Europe’s electric car battery charger market that currently holds more than one-third value share in total sales revenue of the automatic electric car battery charger market.