February 19, 2018
Endowed with the privilege of being classified among the soon-to-be ubiquitous business spaces, electric car charger market is indeed emerging as one of the lucrative investment grounds for automotive and other industry players alike. In an era where electric vehicles are likely to soon become the transportation of choice, luxury, and necessity, electric car charging will gain renewed traction, given that the process is an utmost prerequisite to operate battery-powered vehicles. In the last couple of years, electric car charger industry outlook has indeed witnessed a surprisingly fast-paced transformation, as automakers have been prominently involved in electric car production. Having recognized the fact that charging stations would be inherently required post electric cars going mainstream, companies have been going the whole hog to install electric car charging points and stations at strategic locations across numerous geographies. Say for instance, recently in the last quarter of 2017, MEDCO launched the first electric vehicle charger in Lebanon, apt for nearly all car models. Europe-based fast charging terminal brand DBT, in collaboration with MEDCO, was responsible for installing the two 50 kW tri-standard chargers in the region, that are certain to lay the groundwork for the expansion of Lebanon electric car charger market.
A quick insight into the developments underlining electric car charger market
In a bid to combat the increasing carbon footprints due to fuel emitting transportation, regulatory organizations have enforced a strict framework of governance that automakers and tech giants alike, would need to adhere to. In fact, electric vehicle market had essentially evolved on the grounds of decreasing CO2 emissions and adopting battery-powered transport. In response, reputed automakers have set missions to have a stipulated number of EVs on the road, thereby laying the foundation for the development of electric car charger industry. Envisioning the number of EVs that are likely to go mainstream, electric car charger market firms have been undertaking steps to set to charging stations across myriad geographies. Not to mention, these firms have also been working toward introducing an innovative range of products in electric car charger market. Enumerated below are a few instances of the efforts initiated by companies that have been contributing toward impelling electric car charger industry:
As the automotive ecosystem continues to undergo significant changes, the commercialization potential of electric car charger market is likely to witness a humongous upsurge. Aided by cutting-edge technological advancements and a highly supportive regulatory framework, electric car charger industry is anticipated to tread alongside a highly remunerative growth path in the ensuing years. Not to mention, the lucrative prospects forecast for the electric vehicle market indicate that the revenue graph of electric car charger market is undeniably slated to depict a colossal increase. Inclusive of an exclusively elite competitive landscape comprising Eaton, Panasonic, General Electric, Siemens, ABB, Blink, Leviton, and Schneider Electric, electric car charger market has been projected to attain a substantial remuneration over 2017-2022.