The Asia-Pacific electric vehicle charger market is anticipated to grow with a significant CAGR of over 24.0% during the forecast period (2019-2025). China is expected to contribute substantially to the growth of the market owing to the presence of various charger manufacturing companies and the country’s manufacturing capacity to produce a large number of chargers for domestic and international needs.
Further, favorable government initiatives to make China- electric vehicle hub coupled with government subsidies on the purchase of the electric vehicle is expected to propel the Asia-Pacific vehicle charger industry over the forecast period. Other leading economies in the region including Japan, India, South Korea, and ASEAN countries are also contributing significantly to the market growth. For instance, in November 2020, the government of South Korea announced its plan to ramp up the number of electric vehicle chargers to 50% of electric vehicles by 2025.
Browse the full report description of "Asia-Pacific Electric Vehicle Charger Market Size, Share & Trends Analysis Report by Ownership (Public and Private), by Charger Type (Slow Charger and Fast Charger), by Connector Type (AC Connectors and DC Connectors) and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/asia-pacific-electric-vehicle-charger-market
The primary factor restraining the adoption of electric vehicles is concern about their limited range. Owing to this concern, the South Korean government is aggressively ramping up electric vehicle charging infrastructure. On the other hand, In India, TATA Motors an automobile manufacturer has already started developing charging infrastructure in Tier 1 cities, due to which it can escalate the sales of its electric cars including Tigor EV and Nexon EV.
Market Coverage
o Ownership
o Charger type
o Connector
Key Questions Addressed by the Report
Asia-Pacific Electric Vehicle Charger Market Report Segment
By Ownership
By Charger type
By Connector
o Type 1
o Type 2
o Other (Domestic Socket)
o CHAdeMO
o Combined Charging Systems
o Type 2 (Tesla)
Asia-Pacific Electric Vehicle Charger Market- Countries Covered