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EV Charging Manufacturing Costs and Future Challenges

October 26, 2021
Pangea Strategic Intelligence

The Growing Industry

The EV charging market is growing at extreme rates. Future market value estimations vary hugely due to many unknown circumstances but the global electric vehicle charging infrastructure market is projected to reach a value between $27-49 Billion by 2027. But, it could be much more. The market is being driven by a variety of factors from the climate to technology developments by charging point leaders such as Tesla.

The major factors driving growth are:

Overall, technological developments in the automotive sector, price changes of petrol and diesel, and increasing government regulations on CO2 emission are factors encouraging people to purchase low-emission and electric vehicles. Both the private and public sectors are investing heavily in the EV charging infrastructure networks to increase reliability and the number of charging stations. As well as this, multiple EV and EV charging manufacturers are collaborating with charging infrastructure developers to gain the availability of charging stations. Market players are also pumping money into their research and development activities to build cost-effective and faster EV charger types for electric vehicles.

However, this surging growth that the electric charger market is experiencing does not mean there are no challenges. Factors such as infrastructure growth and manufacturing costs still pose threats.

Who Are The Current Industry Leaders?

This industry is very competitive with new market entrants on a regular basis. These are some of the current EV charging manufacturing industry leaders. Read here for more insights into EVs and EV charging.

 

 

 

 

Source: Ovo Energy, How Do Electric Cars Work?, August 2021

 

The Challenges and Costs

EV charging manufacturing companies and the industry have various challenges and costs facing them.

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