Electric vehicle (EV) charging infrastructure is the system of charging stations and associated equipment that enables refueling EVs. This infrastructure is crucial for the widespread adoption of EVs since it offers a variety of charging options, such as DC fast charging stations that can significantly reduce charging time, Level 1 (regular household outlets), and Level 2 (stronger home or public chargers). Charging stations are commonly placed in public areas, workplaces, shopping centers, and by the side of roadways to facilitate long-distance commuting.
China Electric Vehicle Charging Infrastructure Market Driving Factors and Challenges
Drivers: China's battery electric vehicle market offers robust support to the electric vehicle charging infrastructure sector. It is receiving considerable backing from the government. China's subsidies for purchasing new energy vehicles (NEVs) have been extended through 2022. The availability of public EV charging stations is a significant element in the global purchase of electric vehicles. When purchasing an electric vehicle, having access to public charging stations for rapid charging is thought to be essential. It is expected that the revenue growth of the public charging segment will be improved. Furthermore, the market for battery electric vehicles in China provides strong support for the industry of electric car charging infrastructure. It is getting a lot of support from the government. Through 2022, China will continue to provide subsidies for the purchase of new energy vehicles (NEVs). One important factor influencing the global purchasing of electric vehicles is the accessibility of public EV charging stations. Access to public charging stations for quick charging is considered crucial when buying an electric car. It is anticipated that the public charging segment's revenue growth will improve.
Challenges: The market for electric vehicle (EV) charging infrastructure in China is hampered by a number of issues. Potential EV users have range anxiety as a result of the unequal distribution of charging stations, which frequently over-empowers metropolitan areas while underserving rural ones. Interoperability between various EV models and charging networks is further complicated by the absence of standardization in charging technology. Significant obstacles include high installation costs and regulatory requirements, which make it challenging for new competitors to enter the market and for current providers to grow.
Impact of COVID-19 on China Electric Vehicle Charging Infrastructure Market
The COVID-19 pandemic had a significant impact on China's EV charging infrastructure sector, initially delaying the building of charging stations and disrupting the supply chain. Lockdowns and other restrictions reduced consumer mobility, which reduced the need to establish charging networks and postponed EV sales. However, as part of the economic recovery, the epidemic accelerated the development of green technologies and increased government investment in eco-friendly transportation. This shift resulted in a renewed focus on enhancing the infrastructure for charging as well as investments in faster and more efficient charging techniques.
China Electric Vehicle Charging Infrastructure Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; EV Power, Evking, Hooenergy, ShenZhen Carenergy Net, Southern Power Grid, Starcharge, State Grid Corporation of China, Tesla, TGood, Wancheng Wanchong, YKC, Others.
China Electric Vehicle Charging Infrastructure Market Segmentation:
By Charging Station Type: Based on the Charging Station Type, China Electric Vehicle Charging Infrastructure Market is segmented as; AC Charging Station, DC Charging Station.
By Vehicle Type: Based on the Vehicle Type, China Electric Vehicle Charging Infrastructure Market is segmented as; Passenger Vehicles, Commercial Vehicles.
By User Application: Based on the User Application, China Electric Vehicle Charging Infrastructure Market is segmented as; Private Infrastructure, Public Infrastructure.
By Region: This research also includes data for Eastern, Western, Southern and Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.