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Increasing Competition in the Hospitality Industry has been emerging as Boon for the Electrical Vehicle Charging Market



The global electric vehicle charging station market grew from an estimated $1,645.6 million in 2015 and is expected to reach $29,683.3 million by 2022 growing at a CAGR of 51.7% during 2016 – 2022. The global market is categorized into AC and DC charging stations based on the source of charging. DC charging stations are comparatively costlier than its AC counterpart, which is why the market share of AC charging station in terms of volume is much higher, as compared to that in terms of value. The demand for EV charging stations in public sector has been increasing. There are primarily two types of alternating current (AC) charging stations, such as level 1, and level 2. The level 1 charger has low charging rate and takes several hours to completely charge an electric vehicle. They are mostly used in residential sector. The level 2 chargers have comparatively higher charging rate and are commonly used as an alternative to DC chargers at the service stations. Level 2 charging stations are most suitable for commercial fleets, urban areas, and EV service stations.
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The increasing competition in the hospitality industry has been emerging as boon for the EV chargers market. In order to provide value-added services to their customers, the hospitality companies offer EV charging facilities, which is increasing the demand of EV charging stations from the hospitality industry. The large multinational corporations as a part of employee welfare also offer EV charging facilities.

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Car park refers to the total number of cars in a particular region or country. With the growing concern of public and the government towards environmental pollution, the electric vehicle sales have surged in the recent past. The features such as low maintenance and operation costs are further engaging more number of consumers for electric vehicles. This is also boosting the growth in demand of electric vehicle charging stations. The existing fleet of cars is also driving the growth of the EV charging station ma ...

News Release: Increasing Competition in the Hospitality Industry has been emerging as Boon for the Electrical Vehicle Charging Market
Submitted on: September 04, 2017 10:29:10 AM
Submitted by: birendra kumar
On behalf of: https://www.psmarketresearch.com/market-analysis/electric-vehicle-charging-station-market
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