An electrical device that connects an electric vehicle (EV) to a power source in order to recharge plug-in hybrids, electric cars, and neighbourhood vehicles is known as an electric vehicle charging station. While some charging stations are more basic, others include more advanced capabilities including network connectivity, cell phone capability, and smart metering. With these infrastructures, three different charging options are often available: inductive, DC, and AC charging. EV charging stations are furnished with a range of connectors, such as the Type-2, CHAdeMO, Tesla Supercharger, and the Combined Charging System (CCS), to accommodate a variety of charging requirements.
Japan EV Charging Station Market Driving Factors and Challenges
Drivers: The market is growing mostly as a result of government initiatives in Japan that encourage the use of electric vehicles and related infrastructure, a rise in the demand for battery-operated fast-charging stations, and an increase in the quantity of electric vehicles being installed by public transportation providers. Increased R&D in vehicle-to-grid technology developments and the growing uptake of electric vehicles in developing economies could prove advantageous for market participants. It is anticipated that as EV adoption continues to expand, there will be an exponential increase in the need for charging infrastructure, especially in areas where there are a lot of EV owners. This has prompted governments, businesses, and other organizations to invest in the installation of more public charging stations in order to accommodate the needs of EV owners. The majority of EV owners also install home charging stations, which raises the demand for EV charging infrastructure.
Challenges: The significant initial outlay needed to establish EV charging stations may discourage potential investors and impede the expansion of the market as a whole. It could be necessary to install additional power lines and transformers when building a powerful EV charging station at a remote location, which can be expensive. It's possible that there isn't enough traffic at these sites to make the pricey installation and maintenance of charging stations worthwhile. This makes it difficult to convince investors to finance EV charging stations in these remote locations, which gives potential owners few options for charging. Additionally, some consumers continue to be concerned about range anxiety despite breakthroughs in battery technology, which limits the general adoption of electric vehicles and, as a result, the demand for charging equipment.
Impact of COVID-19 on Japan EV Charging Station Market
The COVID-19 pandemic has caused unparalleled effects on a number of industry sectors, notably the automotive sector. During the initial months of the epidemic, this aspect may have a negative impact on the demand for EVs and, as a result, impede the share of electric car charging stations. But thanks to laxer laws and open trade agreements, EV sales have gradually increased over the past year, which could spur more industry growth in the years to come.
Japan EV Charging Station Market Key Players:
In-depth analyses of the major market participants, including Tesla Inc., Tritium Charging, NEC Telecommunication and Information Technology Ltd., ABB Ltd., Delta Electronics Inc., e-Mobility Power Inc., Toyota Connected Corporation, and Aoyama Elevator Global Ltd., are provided by the market study along with data on the competitive landscape, market segments, and revenue.
Japan EV Charging Station Market Segmentation:
By Charging Type: Based on the Charging Type, Japan EV Charging Station Market is segmented as; Off-Board Top-Down Pantograph, On-Board Bottom-Up Pantograph, Charging Via Connector.
By Vehicle Type: Based on the Vehicle Type, Japan EV Charging Station Market is segmented as; Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Hybrid Electric Vehicle.
By Charging Station Type: Based on the Charging Station Type, Japan EV Charging Station Market is segmented as; AC Charging Station, DC Charging Station, Inductive Charging Station.
By Installation Type: Based on the Installation Type, Japan EV Charging Station Market is segmented as; Portable Charger, Fixed Charger.
By Application: Based on the Application, Japan EV Charging Station Market is segmented as; Residential, Commercial.
By Region: This research also includes data for Kanto, Kansai/Kinki, Central/ Chubu, Kyushu-Okinawa, Tohoku, Chugoku, Hokkaido, Shikoku, Rest of Japan.
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.