According to the report titled ‘GLOBAL Electric Vehicle Charging System Market 2021-2028’ available with Market Study Report, global electric vehicle charging system market is anticipated to rise at a compound annual growth rate of 44.15% during 2021-2028.
 

Recent surge in electric vehicle sales, supportive government norms with emphasis on environment conservation, and aggressive technological innovations in charging infrastructure are the factors simulating the growth of global electric vehicle charging system market.
 

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On the contrary, high setup costs, absence of standardization, and prolonged charging time along with stiff competition are arresting the industry expansion to some extent.
 

Based on product type, global electric vehicle charging system market is bifurcated in categories namely, commercial charging systems, and home charging systems. In terms of mode of charging, wireless charging system, and plug-in charging system segments are thoroughly studied in the report.
 

Speaking of regional outlook, Asia-Pacific is slated to contribute profusely towards worldwide electric vehicle charging system market valuation over 2021-2028, with China leading the growth curve. The subsidies offered by the Chinese government to promote electric mobility, which along with cheap labor has driven international manufacturers to setup their base units in the nation. Additionally, rising urbanization and steady growth in population are impelling electric vehicle sales, thereby leading to surge in development of EV charging infrastructure.
 

On the competitive front, Schneider Electric SE, Tesla Inc., SemaConnect, Siemens AG, ABB Ltd., Alfen, Delta Electronics Inc., Webasto SE, Eaton Corporation plc, EFACEC Power Solutions S.A., ChargePoint, Allego Inc., EVBox Inc., Blink Charging Co., and EVgo are the leading companies in global electric vehicle charging system market.