DUBLIN, October 12, 2021– (COMMERCIAL THREAD)–The “EV Charging Station Raw Material Market by Material Type, Application and Charging Type – Global Forecast to 2028” the report was added to ResearchAndMarkets.com offer.
The electric vehicle charging station raw material market is expected to reach $ 4.91 billion by 2028, at a CAGR of 34.1% during the forecast period, 2021-2028.
In volume, this market is expected to grow at a CAGR of 45.0% from 2021 to reach 665,984.3 metric tons by 2028.
The growth of this market is mainly attributed to factors such as favorable government policies for electric vehicle charging stations, increasing adoption of electric vehicles and increasing initiatives of private companies to deploy electric vehicle charging infrastructure. The growing adoption of electric mobility in emerging economies offers significant growth opportunities for market players.
The electric vehicle charging station raw material market is primarily segmented into metals, alloys and polymers based on the type of material. The polymers segment is expected to grow at the highest CAGR in value during the forecast period. The main factors attributed to the strong growth of this segment are the excellent heat resistance, weather resistance, strength and lightness of polymers; ability to be easily molded into any shape and size; and high aesthetic qualities, which allows charging stations to be branded in any color according to the requirements of network operators.
Based on the application, the Electric Vehicle Charging Station raw material market is segmented into Cord, Connection Gun, Housing, Charger Socket Holster, Nylon Cable Glands / Locknut, Electrical Circuit Breaker, Meter energy and timers, internal wiring, flexible conduit, thermal switch, hanger cable, screens and other applications.
The connector gun segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing demand for DC fast charging stations in European countries and the United States, the increasing adoption of electric mobility in emerging economies, the increase in government initiatives in countries like India, Thailand, Singapore and other Southeast Asian countries for rapid deployment of electric vehicle charging infrastructure and developing an ecosystem of electric vehicles for manufacturing EVSE components.
Based on the type of charge, the EV charging station raw materials market is segmented into Tier 1, Tier 2, and DC fast charging. The DC fast charge segment is expected to grow at the highest CAGR during the forecast period.
The rapid growth of this segment is mainly attributed to the increasing government initiatives for the installation of fast-charging stations, the discount on the purchase of direct-current fast-charging stations, the increase in investments by car manufacturers in the development of ” an infrastructure of DC fast charging stations to support their long lifespan. battery-powered electric vehicle and the ability of DC fast chargers to provide faster charging compared to Level 1 and Level 2 charging stations.
Asia-Pacific is expected to experience the fastest growth during the forecast period.
Factors attributed to the strong growth in this region are the high adoption of electric vehicles and associated infrastructure to meet climate change commitments, reduce air pollution and increase energy security; increasing opportunities for economies with less developed automotive manufacturing capabilities to catch up with, or even advance, industry players in more established automotive manufacturing centers; and ongoing investments from various countries for robust charging infrastructure used in shopping malls, public buildings and parking lots.
Government policies favorable to electric vehicle charging stations
Growing adoption of electric vehicles
Growing initiatives of private companies for the deployment of electric vehicle charging infrastructure
The major players operating in the Electric Vehicle Charging Station Raw Material Market are
For more information on this report, visit https://www.researchandmarkets.com/r/t290i7
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211012005505/en/
Laura Wood, Senior Press Director
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