Electric Vehicle Charging Outlets Market - Insights and Forecast 2025

NEW YORK - Feb. 18, 2020 - PRLog -- The global report on Electric Vehicle Charging Outlets Market, published by UnivDatos Market Insights (UMI) forecasts the number of EV charging outlets to reach 18.81 billion by 2025 showcasing a CAGR of 25% during the forecast period (2018-2025). Enormously high EV adoption paired with governmental support through policies, incentives, subsidies and investments are attributed to be the primary factors driving the adoption and installation of electric vehicle and EV charging outlets respectively. Based on the deployment type, the EV charging outlets are classified as public and private EV charging outlets. Private EV charging outlets are installed at home, commercial building, shopping malls and private parking spaces among others. Private charging outlets dominate the market at present. The increased ownership of EVs and lack of public EV chargers are the major factors for the dominance of private EV charging outlets. However the legislative bodies have agreed that the green mobility is possible only with the sufficient availability of the charging systems at public locations, hence they ramped up the investments and partnerships with equipment suppliers and automotive OEMs. As a result of which the number of public EV charging outlets is expected to grow at a CAGR of 26.1% during the forecast period.

Browse Complete Report with TOC – https://univdatos.com/report/global-electric-vehicle-charging-outlets-market-emphasis-on-deployment-type-charger-type-level-of-charging-and-mode-of-charging-insights-and-forecast-2018-2025

In addition to this, the time taken to charge a fully depleted EV battery depends on the type of charger used to charge the battery. Slow and fast chargers are the different type of chargers available at private and public locations. Slow charging outlets typically take 4-12 hours to charge the EV batteries. In spite of the long charging time, slow chargers are the preferred charging units in the EV industry due to the convenience and low cost. On the other side, in the past few years, fast chargers have also gained popularity due to lesser charging time. Hence, local governments have set targets to increase the fast chargers in their respective countries. Slow chargers are expected to dominate the market however due to the increase in governmental efforts, fast chargers are expected to grow at highest CAGR of 37.1% during the forecast period.