As Electric Vehicle (EV) and Plug-in hybrid electric vehicle (PHEV) are anticipated to increase their market share rapidly in the global automotive industry, demand for EV Charging adapters is bound to increase. Many companies are coming with smart EV Charging adapters which enable real time data monitoring and enables efficient and rapid charging. Most of the sales of EV Charging adapters is expected to come from OEM’s. The global EV Charging Adapters market is expected to expand with an impressive CAGR over the forecast period.
The major factors boosting the growth of Automotive EV Charging Adapters market is rising demand for EV’s and PHEV’s. Impressive tax incentive, environmental benefits coupled with increased investments in developing charging infrastructure by governments and OEMs in Japan, China, US and Europe, is boosting further demand for Electric Vehicles. Countries across the globe have sheer focus on reducing GHG’s and offer significant amount of subsidies for the buyers of EV’s. However, the demand for DC Fast Charger is going to be limited, considering the availability of DC Charging Stations, amid safety concerns. However, AC EV Charging Adapters are expected to see unprecedented growth throughout the forecast period. Participation of most of the developing countries in various global environmental initiatives, is enabling the penetration of EV Charging adapters, amid support from developed nations and their EV manufacturers. China is acting as a key driver to the global EV charging adapters market, due to increasing number of EV manufacturers in the region. Companies are focusing to improve battery and charging infrastructure to enable rapid charging and improve efficiency and longevity.
Automotive EV Charging Adapters Market Segmentation By Charger Type – AC Level I Charger, AC Level II Charger, DC Fast Charger; By Sales Channel – OEM, After Market; By Vehicle Type – Passenger Cars, Light Motor Vehicles, Heavy Motor Vehicles
Geographically, Automotive EV Charging Adapters market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa.North America anticipated to be the global leader in terms of demand for Automotive EV Charging Adapters. The region has endorsed some of the most advanced technologies in electric vehicle, and caters wide-scale adoption rate. However, presence of EV Charging station in the country is the matter of states and greener states such as California, hosts most EV charging station, thus enabling higher demand for EV’s and PHEV’s and in turn EV Adapters. In Western Europe, UK, and Netherlands, leads the market, with high growth rate anticipated in Germany. However, overall the demand for Automotive EV adapters in Western Europe is anticipated to stagnate by the end of forecast period. Growing sales of PEV’s in China, is the key factor driving huge demand for EV Charging Adapters in the Asia Pacific Exc. Japan region. The tax incentives and subsidies for PEV manufacturers and end-users drive the demand for these vehicles. Chinese OEMs produced 43 percent of the 873,000 EVs built worldwide in 2016. Bold government initiatives in many Asian countries such as India, to promote the usage of EV’s is expected to keep the demand from the APEJ region blessed with high growth rates throughout the forecast period. With many electric vehicles being marketed as luxury products, demand for EV’s in KSA, UAE and other high income MEA countries is expected to increase, fuelling more demand for EV Charging Adapters. Japan has already been a leader in terms of penetration of EV’s and the EV Charging Adapter market of the region is expected to present a sluggish growth over the forecast period.
Some of the players identified in Global Automotive EV Charging Adapters market are:- ABB Group, AeroVironment Inc., Robert Bosch GmbH, Delphi Automotive PLC, AddÉnergie Technologies, ,ChargePoint, Eaton Corporation, Efacec, Leviton Manufacturing, POD point, Signet Electronic Systems
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