Top Companies in Electric Vehicle Supply Equipment Market | Comprehensive Study with Major Players Growth rate, Past data by VMR
EVSE stands for Electric Vehicle Supply Equipment, and it is used to charge electric vehicles in a variety of residential and commercial settings such as homes, corporate offices, highways, parks, hotels, and bus depots.
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Upcoming Trends in Electric Vehicle Supply Equipment Market
The Global Electric Vehicle Supply Equipment Market is valued at USD 2,037.1 Million in the year 2021 and is projected to reach a value of USD 7,808.2 Million by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 25.1% over the forecast period. The growing pollution all across the globe is one of the significant factors accentuating the growth of the Global Electric Vehicle Supply Equipment Market. There is increasing demand to replace petroleum fuel with environmentally friendly emission-free alternatives. However, the growing demand for electric vehicles due to the growing disposable income of people all across the globe is also likely to boost the demand for Electric Vehicle supply equipment vigorously.
The prominent key players are increasing their funding to boost the research and development activities. Researchers are concentrating on expediting the innovation process and launching environment-free alternatives to lower crude oil consumption, air pollution, and automotive emissions all across the globe.
Moreover, government authorities across several regions in the world have implemented favorable policies that encourage and support the use of electric vehicles. Moreover, the significant spike in the demand for hybrid and battery-operated vehicles is likely to promulgate the growth of the global Electric Vehicle supply equipment market during the forecast period.
The growth in the production of autonomous vehicles will also steer the growth in the demand for Electric Vehicle supply equipment as electric autonomous vehicles sweep the majority of production. Electric Vehicle charging station companies are building advanced charging station technologies like smart charging systems, terra HP charging, turbocharging, wireless power transfer, and bidirectional charges. These developments in the charging system will need an advanced testing system. Henceforth, it will boost the scope of Electric Vehicle supply equipment in many folds.
Some of the key players operating in the Global Electric Vehicle Supply Equipment Market are listed below:
|
Company Name |
Revenue in USD |
|
$25 Billion |
|
$24 Billion |
|
$14 Billion |
|
$9 Billion |
|
$54 Billion |
|
$53 Billion |
|
$11 Million |
|
$964 Million |
|
$982 Million |
|
$364 Million |
BYD Co. Ltd. is a publicly-listed Chinese conglomerate manufacturing company headquartered in Shenzhen, Guangdong, China. It was founded by Wang Chuanfu in February 1995. The company has two major subsidiaries, BYD Automobile and BYD Electronic. The company is listed as 002594 (SHE) on the Chinese stock market. The company has 229,154 total numbers of employees working across china.
LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It was the 10th largest chemical company in the world by sales in 2017. It was first established as the Lucky Chemical Industrial Corporation, which manufactured cosmetics. The company is listed as 051910 (KRX) in the stock exchange market. In 2020, the company had 20,000 employees working and generated revenue of USD 10 billion.
Contemporary Amperex Technology Co. Limited, abbreviated as CATL, is a Chinese battery manufacturer and technology company founded in 2011 that specializes in the manufacturing of lithium-ion batteries for electric vehicles and energy storage systems, as well as battery management systems. The company is listed as 300750 (SHE) in the Chinese stock exchange market. In 2020, the company had 33,078 employees working and generated revenue of USD 7.8 billion.
Samsung SDI Co., Ltd. is a battery and electronic materials manufacturer headquartered in Yongin, Gyeonggi-do, South Korea. Samsung SDI operates its business in Energy Solutions and Electronic Materials segment. The company is listed as 006400 (KRX) in the stock exchange market.
Panasonic Holdings Corporation, formerly Matsushita Electric Industrial Co., Ltd. between 1935 and 2008 and the first incarnation of Panasonic Corporation between 2008 and 2022, is a major Japanese multinational conglomerate company, headquartered in Kadoma, Osaka.
Tesla, Inc. is an American automotive and clean energy company based in Austin, Texas. Tesla designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. The company is listed on the stock market as TSLA (NASDAQ). In 2021, the company generated revenue of USD 53.82 billion and has approximately 1,00,000 employees working.
Lithium Werks designs, engineers and manufactures lithium iron phosphate batteries ranging from cells to custom battery modules. The company’s lithium-ion batteries provide high capacity, long life, and an excellent safety profile. The company is a privately held organization.
Saft is a French company involved in the design, development, and manufacturing of batteries used in transport, industry, and defense. Headquartered in France, it has an international presence.
VARTA AG is a German company manufacturing batteries for global automotive, industrial, and consumer markets. The company is listed as VAR1 (ETR) on the stock exchange.
Farasis Energy, Inc. is an advanced lithium-ion battery technology company focused on developing and commercializing innovative energy storage solutions to meet the increasingly critical, global demand for improved battery performance, cost, and safety. Farasis Energy, Inc. is a pre-IPO company.
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