Electric Vehicle Charging Station
Electric Vehicle Charging Station (EVCS) is the infrastructure that provides the crucial link between an Electric Vehicle (EV) with a depleted battery and the electrical source that recharges those batteries in EV Charging Station. The key functionality of an EV Charging Station is to supply electric energy to charge electric vehicles. Electric Vehicle (EV) Charging Station is also known as an electric recharging point or charging point.
Top EV Charging Companies:
- BP PLC
- Blink Charging
Market OverviewThe function of EV charging companies is to supply electric energy to charge electric vehicles. Various components and parts such as EV connectors, electronic modules, charge couplers, and controllers from EV charging companies. These stations are installed in municipal parking locations by the best EV charging companies (vendors) or at retail shopping centers by private companies.The global electric vehicle charging station market is projected to grow from $ 3,999 Mn in 2020 to $ 49,345 Mn by 2027 at a CAGR of 43.2%. Increasing pollution and the threat of global warming have accentuated the need to replace petroleum fuel vehicles with emission-free substitutes. After decades of R&D, the industry has found electricity to be the best suitable substitute for traditionally fueled vehicles, resulting in the market's growth. Moreover, to reduce crude oil consumption, automotive emissions, and air pollution, governments worldwide have adopted and implemented favorable policies that promote the use of electric vehicles. The increasing demand for electric cars is expected to fuel the growth of the EV Charging Companies and related components.
The competitive leadership mapping section provides information regarding top EV charging companies offering the EV charging station and outlines the findings and analysis as well as rates them accordingly based on vendor performance within each evaluation criteria. The evaluation criteria are based on 2 broad categories, namely, Product Maturity and Company Maturity on which top EV charging companies are rated. Each category encompasses various parameters on the basis of which top EV charging companies are evaluated.
Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
Best EV charging companies - Visionary leaders
- Tesla- Tesla designs, develops, manufactures, and sells high-performance fully electric vehicles and energy generation and storage systems. The company installs and maintains energy systems and sells solar electricity. The company offers high power EV supercharger with high DC power output of 480 Volt.
- BYD- BYD energy storage systems can be an ideal fit for several needs based on their flexible and modular design. BYD offers EVSE solutions through two categories, namely Electric Commercial Vehicle and Energy Storage.
- ChargePoint- ChargePoint, Inc. operates as an open best electric vehicle charging station network. It provides cloud-based service plans as annual subscriptions for providing tools, data, payment processing, and driver support.
- Shell- Shell offers a wide range of EV charging station ranging from home charging, business/destination charging, and public charging through its NewMotion range of products and Greenlot range of services.
- ABB- ABB fully supports business operation with Dynamic DC power-sharing to enhance the use of charging assets, on-site energy management to promote future growth.
Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.
Top EV Charging Companies - Dynamic Differentiators
- BP PLC- BP allows its charging stations to be integrated into the Polar charging network of over 7,000 points across the United Kingdom. Operators can make use of ChargeVision to monitor usage with their refined on-line reportage system.
- Webasto- Webasto's charging solutions assist users to create the correct alternative for an environmentally friendly method of mobility. With their superior EV charging station, skilled installation, and comprehensive services, they have got the correct charging answer for your e-mobility.
- EFACEC- Efacec is considered a global leader in the fast-charging infrastructure market in EV charging Companies. Efacec is the largest Portuguese company in the area of energy, engineering, and mobility.
- Yazaki- Yazaki offers both AC and DC charging connectors, which enhance the charging operation of hybrid and electric vehicles. Yazaki Corporation is also engaged in the production of air-conditioning equipment, solar equipment, electric wires and cables, and gas equipment.
Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.
Top EV Charging Companies - Innovators
- SemaConnect- SemaConnect's electric vehicle charging station is for one driver in a dedicated automobile parking space and it can be accessed through monthly requests. Drivers can charge their vehicles at their appointed spots.
- DBT- DBT offers a whole service range to its customers with their complimentary services for your EV charging station, such as maintenance contract, warranty extension, dedicated technical help, and second life product.
- Siemens- Siemens is a German engineering conglomerate focused on core business activities in the fields of energy, healthcare, industry, and infrastructure. Siemen’s energy management division offers a wide spectrum of software, products, systems, solutions, and services for transmitting, distributing, and managing electrical power and for providing intelligent power infrastructure.
Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.
Top EV Charging Companies - Emerging Companies
- EVGO- EVgo, acquired by LS Power is known to be the "first mover and learner" in the infrastructure design program. EVGO tends to work with utilities, government agencies, automakers, site hosts, fleets, and alternative stakeholders to accelerate transportation electrification.
- SE- Schneider Electric provides connected EV charging station, which are ideal for semi-public parking facilities, corporate EV fleets, and apartment complexes. In the EV charging segment, the smart wallbox charging station has advanced features such as user authentication, billing and report generation, and remote maintenance.
Products in the Best EV Charging Companies Market
Electric vehicles have witnessed rapid evolution with the ongoing developments in charging infrastructure and technology. Technological advancements in the electric vehicle charging station and enhanced range of distance covered by electric vehicles are some of the major factors driving the growth of the top EV charging companies market. In addition, the increasing sensitivity of various governments towards a cleaner environment has increased the demand for zero-emission vehicles. The future is considered to be the age of mobility with more than two million people expected to change their internal combustion vehicle with an environment friendly electric car.
Rising EV Sales Worldwide
An increase in the adoption and use of electric vehicles has accentuated the need to develop EV charging station infrastructure. Leading markets for electric vehicles such as China, the US, and Germany are investing significantly in EV charging providers station infrastructure along with research & development for faster and more efficient charging methods. Automakers are projected to make significant expenditures to meet the growing demand for electric vehicles and play a key role in the market's evolution.
Government policies and subsidies
The rising demand for EV’s in various parts of the world is expected to increase the demand for the best electric vehicle charging station and hence EV charging companies. Various governments are funding the development of charging station infrastructure, as well as subsidizing EV charging station infrastructure. Several governments are providing various kinds of incentives such as low or zero registration fees and exemptions from import taxes, purchase taxes, and road taxes.
Environmental pollution treated as an alarming issue
The emission of carbon from ICE vehicles is now treated as a significant threat by governments of various countries. Several countries have partnered with private companies to achieve the sustainable development of EV charging station infrastructure. Various countries' governments are collaborating with commercial enterprises to develop charging infrastructure.
Lack of infrastructure standardization in EV Charging Service Providers
Governments need to standardize EV charging station infrastructure for the development of a favorable ecosystem and an increase in the sales of EVs. Distinct countries have different quick charging standards. The absence of standardisation among countries may have an influence on EV charging station installation and stifle market expansion.
Primitive power grid infrastructure - EV Charging Companies
The number of longer range electric vehicles is increasing, leading to the demand for charge management solutions. Fast charging can greatly speed up recharging times, but it's also important to be able to deal with issues in local grid infrastructure and vehicle-connected charge equipment. The increasing number of electric vehicles in the market are expected to increase the load on power grids in various countries.
Use of V2G EV charging station for electric vehicles
The V2G technology enables EVs to store unused power and discharge it to the grid. This can improve the electrical component’s performance and add value for EV owners. The introduction of this concept has eased the best EV charging providers station operations and made them the most preferred mode of transportation. Thus, the entire electric vehicle charging station market plays a vital role in the connection of the grid to the electric vehicle to enable charging of the vehicle.
Stringent rules for the installation of Electric Vehicle Charging Station
Governments of different countries have implemented stringent rules that govern the installation of an EV charging station. Service providers are required to follow a certain set of instructions while installing EV charging stations. They require approval from plot owners when the installation is on private property, local governments in terms of regulatory mandates, and utility providers for energy transfer.
360 Quadrants Research Methodology
360 Quadrants assessed some of the top EV charging companies. These vendors were evaluated based on more than 70 specifically selected parameters, which were finalized based on the product and business strategies of the software provider, and the data received from the buyers as well as industry experts. All these parameters were assigned a specific weightage, post which top EV charging companies were measured. This study also helps the analysts calculate the total score based on which best ev charging companies were ranked and positioned on 360Quadrants.
Best EV Charging Companies
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Customised Quadrant For This Market
Comparing 16 vendors in Electric Vehicle Charging Station across 101 criteria.