EV Charging Infrastructure Industry Growth Driven by Government policies for interconnected charging infrastructure networks

In 2020 and early 2021, the rapid evolution of EVSE infrastructure continued. In several nations, efforts are underway to deliberately plan and deploy large-scale interconnected EV charging stations along major transportation corridors. Digitalization, interoperability, and charging network roadmaps are all important concerns in the planning process. In several cases, stimulus packages are supplementing money for EV infrastructure.

Europe


The Alternative Fuel Infrastructure Directive (AFID) is the key directive directing the rollout of publicly accessible EV charging stations in the European Union. Members of the EU must set deployment targets for publicly accessible EV chargers for the decade leading up to 2030, with a suggested ratio of one charger per ten electric cars. With a goal of 1 million publicly accessible chargers deployed by 2025 and a roadmap of critical activities to achieve it, the EU Green Deal raised the bar. The AFID will be revised in 2021 as part of this. Some proponents want it to be turned into an enforced regulation that would allow member states to set binding targets, revise the 1 charger per 10 electric cars ratio, give EU citizens the right to request charging points regardless of location, and include provisions for high-density vehicles (HDVs).

China

China proposed a USD 1.4 trillion digital infrastructure public spending initiative, which includes funding for EV charging stations, similar to large-scale investments in Europe. This has spread to the local level, with over 10 cities stating plans to install 1.2 million chargers by 2025. Henan Province switched from subsidizing capital costs for public charging stations to a tariff subsidy structure for fast charging stations. Local governments that meet quotas for new household chargers are also rewarded financially.

US

In the United States, a plan suggested in early 2021 would develop grant and incentive programs to construct 500 000 chargers, on top of the approximately 100 000 already in place. Leading governments such as California and New York provide subsidies and tax incentives to encourage the adoption of electric vehicles, and they partner with electric utilities to do so.

Canada

The Zero Emission Vehicle Infrastructure Program (iZEV) in Canada has secured an additional CAD 150 million in financing (USD 112 million). Level 2 chargers in multi-unit residential complexes and offices, as well as fleet and high-power charging infrastructure, are the emphasis. The EVAFIDI (Electric Vehicle and Alternative Fuel Infrastructure Deployment Initiative) encourages the construction of a nationwide network of fast chargers.

Chile

The new Energy Efficiency Law in Chile intends to secure the interoperability of the EV charging infrastructure, making it easier for EV users to connect to the charging network.

India

A total of USD 133 million is earmarked for charging infrastructure under India's FAME II initiative, albeit the funds have been underutilized thus far. The Ministry of Heavy Industries issued an expression of interest in October 2020, inviting investors to participate in the project by installing a minimum of one charging station every 25 kilometers along major routes and every 100 kilometers to accommodate HDVs. Critics compare it to a similar program in 2019 that had a large number of applicants but only provided funding to public enterprises.

The global electric vehicle charging infrastructure market size was valued at USD 14.90 billion in 2020 and is estimated to reach USD 115.47 billion by 2027, growing at a CAGR of 34.49% between 2021 and 2027.

A. EV sales buoying despite the COVID-19 pandemic to drive market growth

In 2020, electric vehicle sales shattered all previous records. They were up more than 40% from the previous year. This is particularly noteworthy because overall car sales fell by 16 percent in 2020 as a result of pandemic-related conditions.

Click Here for more Information, Report Copy@ https://www.visionresearchreports.com/report/sample/37217

1. Prevailing strategies augmented the EV market in the first half of 2020

Existing governmental support for electric vehicles was supplemented with COVID-related stimulus measures. Many countries were already establishing and strengthening e-mobility initiatives before the pandemic, with crucial policy measures such as tax incentives and stricter car CO2 emission requirements. In early 2020, purchase incentives grew, particularly in Germany, France, and Italy. As a result, electric vehicle sales in Europe increased by 55% in the first half of 2020 compared to the same period in 2019. Electric car sales in the rest of the world have been harmed by the economic crisis, with sales decreasing from 2019 levels but not as much as conventional car sales.

2. Electric car sales grew substantially in the second half of 2020 due to supporting initiatives

From mid-2020, other COVID-19-related stimulus measures will enhance electric car sales even more. Despite second waves of the epidemic, sales in all large markets exceeded 2019 levels in each month from July to December. These stimulus measures differed significantly from those implemented during the financial crisis of 2008-09. First and foremost, there was an emphasis on increasing the adoption of electric and hybrid automobiles. Second, several countries supported charging infrastructure, public transportation, and non-motorized mobility as part of a more integrated strategy to the transportation industry. Increased purchase incentives (or postponing the phase-out of subsidies) and EV-specific cash-for-clunker techniques were the most common EV stimulus initiatives. Germany, for example, did not include any incentives for conventional automobiles in its automotive support package.

3. Maintaining momentum beyond 2020 is vital

Many of the auto-related stimulus measures put in place in 2020 were supposed to be taken down by the end of the year. In some cases, such as France's upgraded cash-for-clunker scheme, maximum limits were met in just a few weeks. The focused stimulus measures boosted the electric vehicle market, but they do not guarantee long-term sales growth.

Recognizing the success of the short-term measures, some countries extended their EV support packages for several months or even years in the second half of 2020, though with stricter access to subsidies, such as tightened vehicle price caps, higher-income conditions, and gradual reductions in subsidies and tax reductions.

Featured Product

STI Norland - First dual-row tracker in the market

STI Norland - First dual-row tracker in the market

Developed in 2017, the STI-H250™ is consists of two linked torsion beams that rotate simultaneously following the sun's path. They are moved by just one motor, cutting supply and maintenance costs. STI-H250™ dual-row tracker includes backtracking mode to avoid shadowing between adjacent rows and stow function to protect the tracker in extreme wind conditions. For cleaning, vehicles can pass between trackers and each row can be placed in a different position.