Electric Lighting Equipment Market Definition

The electrical lighting equipment produces light for the electrical products. These are used for various household and other applications. The main types of electrical lighting equipment are general lighting, automotive lighting, and backlighting. Automotive lighting consists of lighting and signaling devices mounted on the front, rear, sides, and, in some cases, the top of the vehicle, and it illuminates the roadway for the driver. The lighting system also improves visibility, especially in low-light conditions. It alerts other drivers and pedestrians to the presence and direction of a vehicle. The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used for residential, commercial, automotive, and other applications.

Electric Lighting Equipment Market Segmentation

The electric lighting equipment market covered in this report is segmented – 1) By Type: General Lighting, Automotive Lighting, Back Lighting 2) By Mode: Online, Offline 3) By Sales Channel: OEM, Aftermarket 4) By Application: Residential, Commercial, Automotive, Other Applications Subsegments Covered: Incandescent Bulbs, Halogen, High Intensity Discharge (HID) Bulbs, Linear Fluorescent (LFL) Bulbs, Compact Fluorescent Lamps (CFL), Light Emitting Diode (LED), Automotive Halogen Bulbs, High Intensity Discharge [HID] Bulbs, Automotive Light Emitting Diode (LED) Bulbs, Cold Cathode Fluorescent Lamps (CCFL), Back Lighting-Light Emitting Diode (LED)

Electric Bikes And Scooters Market Definition And Segments

Electric bicycles, often known as e-bikes or eBikes, are motorized bicycles with built-in electric motors that help with propulsion. Electric scooters frequently resemble motorcycles and are plug-in electric vehicles with two or three wheels and an electric motor. The main types in the electric bike and scooter market are electric bikes and electric scooters. An electric bike is a bicycle equipped with an electric motor that is activated to assist with or replace pedaling. The battery types involved are lead-acid, lithium-ion (li-ion), nickel-metal hydride (NiMH), and others. The voltage capacities involved are 48–59 V, 60–72 V, 73–96 V, and above 96V. The drive mechanism types involved are hub motors, mid-drives, and other mechanisms. The electric bikes and scooters market covered in this report is segmented – 1) By Product: Electric Bikes, Electric Scooters 2) By Battery: Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NIMH), Other Batteries 3) By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V 4) By Drive Mechanism: Hub Motor, Mid Drive, Other Drive Mechanisms The electric bikes and scooters market size has grown strongly in recent years. It will grow from $28.08 billion in 2023 to $30.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rising fuel costs, government initiatives, early market entrants, urbanization and congestion, consumer behavior changes. The electric bikes and scooters market size is expected to see strong growth in the next few years. It will grow to $39.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to environmental concerns, economic trends, global market expansion, competitive market landscape, infrastructure development, consumer adoption rates. Major trends in the forecast period include urban mobility solutions, regulatory support and incentives, rising environmental awareness, last-mile connectivity, consumer preferences and customization.

Environmental Awareness With Electric Bikes And Scooters Market

Increasing awareness about pollution is a key driver of the electric bikes and scooters market. This is because more people now understand the importance of reducing pollution, and this awareness has led them to look for more environmentally friendly modes of transportation that minimize and control pollution. For example, according to a survey published by Forbes, due to an increase in awareness about pollution, the sales of electric bikes (e-bikes) have exceeded those of non-electric bikes in the Netherlands. The growth in the adoption of electric bikes and scooters is expected to continue in the coming years as the carbon dioxide emitted by the burning of fossil fuels remains a major threat to the environment, causing global warming and climate change.

Rising Fuel Prices In Electric Bikes And Scooters Market

The rising fuel prices are anticipated to propel the growth of the electric bike and scooter market going forward. Fuel prices refer to the cost of various types of fuel, primarily gasoline and diesel, that consumers pay to fill up their vehicles or equipment. With rising fuel prices, consumers are buying electric bikes and scooters as they are more cost-effective to operate than traditional gasoline-powered vehicles, reducing their transportation expenses. For instance, in January 2023, according to the Bureau of Labor Statistics, a US-based government agency, fuel prices increased 19.4% from December 2021 to December 2022. Additionally, in September 2022, the Office for National Statistics, a UK-based government department, reported that automotive fuel prices in 2022 had increased by 48% from 2021. Therefore, rising fuel prices drive the growth of the electric bike and scooter market. Major companies operating in the electric bikes and scooters market report are Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Suzuki Motor Corporation, Mahindra & Mahindra Limited, Polaris Industries Inc., Govecs AG, Yadea Group Holdings Ltd., Giant Manufacturing Co. Ltd., AIMA Technology Co. Ltd., Alta Motors, Trek Bicycle Corporation, Dongguan Tailing Electric Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Energica Motor Company S.p.A., Gogoro Inc., KTM AG, Yamaha Motor Co. Ltd., Vmoto Limited, Zero Motorcycles Inc., Tianjin Golden Wheel Group Co. Ltd., Hero Electric Vehicles Pvt. Ltd., Terra Motors Corporation, Aventon Bikes, Z Electric Vehicle Corporation, Fuji-Ta Bicycle Co. Ltd., Prodeco Technologies LLC, Bionx International Corporation, Zhejiang Luyuan Electric Vehicle Co. Ltd., Amego Electric Vehicles Inc., Shandong Incalcu Electric Vehicle Co. Ltd., Cowboy Electric Bikes, Lyft Inc., Keego Mobility Co. Ltd., Rad Power Bikes, Volt Motorcycles Ltd., Karbon Kinetics Limited, Raleigh Bicycle Company, Piaggio & C. SpA, Ather Energy Private Limited, Brammo Inc., Evoke Electric MotorcyclesLtd., Lightning Motorcycle Corp., Derby Cycle Holding GmbH, Riese & Müller GmbH, Stromer Electric Bikes

Challenges In Electric Bikes And Scooters Market

The lack of infrastructure for battery charging is a major restraint on the electric bikes and scooters market. This is mainly because a lack of sufficient bike or scooter charging stations leads to a scarcity of battery charging stations and discourages people from purchasing electric bikes or scooters. For instance, according to express drive data 2021, electric two-wheelers are popular in India. However, the sales of electric two-wheelers remain way lower than conventional petrol ones. We don’t have an appropriate EV ecosystem and the charging stations are in very small numbers. So, in a bid to encourage people to buy EVs and to develop the EV ecosystem in India, eBikeGo has announced that they will install one lakh smart IoT-enabled charging stations in seven Indian cities.

Advancements In Battery Technology For Electric Bikes And Scooters Market

Improving battery technology is an emerging trend in the electric bikes and scooters market. One such technological improvement of batteries includes the growing use of graphene batteries in electric bikes and scooters. The graphene batteries use electrolytes based on a super-thin material called graphene, which enables faster charging time, higher capacity, and lighter weight of the vehicles. In this regard, Earthday, a startup based in Barcelona, Spain, is working towards further enhancing the efficiency of graphene batteries to charge electric bikes and scooters in around five minutes.

Innovations In Electric Bikes And Scooters Market

Major companies operating in the electric bike and scooter market are focusing on innovating new products, such as Astroinno, to provide reliable services to customers. Astroinno batteries are used for electric bikes and scooters, as this is a type of lithium-manganese-iron-phosphate (LMFP) battery that has a high energy density and a long cycle life. For instance, in May 2023, Gotion High Tech Co., Ltd., a China-based battery manufacturing company, launched a new AV battery with a 1000 km range called Astroinno. The Astroinno battery is an electric vehicle battery that has a range of up to 1000km on a single charge, setting a precedent for developing nickel-cobalt-manganese (NCM)-free batteries. This batter has internal insulation materials that can resist a high temperature of 1200°C and 1500 fast charging cycles in 18 minutes.

Rohatyn Group Acquired Kjk Capital

In July 2022, the Rohatyn Group, a US-based asset management firm, acquired KJK Capital for an undisclosed amount. Through this acquisition, Rohatyn Group will expand in e-bikes. KJK Capital is a Europe-based manufacturer of electric bikes. Asia-Pacific was the largest region in the electric bikes and scooters market in 2023. This region is expected to remain the largest during the next five years. The regions covered in the electric bikes and scooters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric bikes and scooters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The electric bikes and scooters market consist of sales of e-moped and e-cycles. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric bikes and scooters market research report is one of a series of new reports from The Business Research Company that provides electric bike and scooter market statistics, including global market size, regional shares, competitors with an electric bike and scooter market share, detailed electric bike and scooter market segments, market trends and opportunities, and any further data you may need to thrive in the electric bike and scooter industry. This electric bikes and scooters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Commercial Electric Vehicles Market Definition And Segments

Commercial electric vehicles are electrically powered, self-propelled electric vehicles used for transportation that help reduce greenhouse gas emissions (GHG) and pollution and work with the help of both electric motors working in tandem. The main technologies in commercial electric vehicles are battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The vehicle types involved are buses, trucks, pick-up trucks, and vans. The charging infrastructure involved is pantograph, plug-in, and inductive. The commercial electric vehicles market covered in this report is segmented – 1) By Technology: Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles 2) By Vehicle: Bus, Truck, Pick-Up Truck, Van 3) By Charging Infrastructure: Pantograph, Plug-in, Inductive The commercial electric vehicles market size has grown exponentially in recent years. It will grow from $116.95 billion in 2023 to $154.64 billion in 2024 at a compound annual growth rate (CAGR) of 32.2%. The growth in the historic period can be attributed to government incentives, rising fuel costs, corporate sustainability initiatives, environmental concerns, public awareness and sustainability initiatives. The commercial electric vehicles market size is expected to see exponentially grown in the next few years. It will grow to $447.04 billion in 2028 at a compound annual growth rate (CAGR) of 30.4%. The growth in the forecast period can be attributed to increasing charging infrastructure, increasing urbanization and last-mile delivery demand, public awareness and education, and investments in the automotive industry. Major trends in the forecast period include electrification of fleets, electrification of commercial transit, integration of autonomous technology, battery recycling and second-life applications, fleet management solutions, and electrification of medium and heavy-duty vehicles.

Government Subsidies Drive Electric Vehicle Adoption For Carbon Emission Reduction

Government subsidies to consumers and manufacturers help with the adoption of electric vehicles. The adoption of electric vehicles has been identified as an effective method to reduce carbon emissions and dependency on fossil fuels. So, the governments of many countries are providing direct subsidies to both buyers and manufacturers to increase the adoption rate of electric vehicles. For example, to make electric vehicles (EVs) accessible to all Americans for both short- and long-distance travel, the federal government has set the 2030 target of having half of all new vehicles sold in the country be zero-emissions vehicles. It has also committed to developing a practical and equitable network of 500,000 chargers. Major companies operating in the commercial electric vehicles market include Tesla Inc., Nissan Motor Co. Ltd., Bayerische Motoren Werke AG, General Motors Company, Ford Motor Company, Volkswagen AG, Kia Corporation, Audi AG, BYD Co. Ltd., Daimler AG, Volvo Group, JAC Motors, Zhejiang Geely Holding Group Co. Ltd., Hyundai Motor Company, ZD (Zhongsheng Group), Zotye Auto Co. Ltd., Beijing Automotive Industry Group Co. Ltd., Tata Motors Limited, Hero Electric Vehicles Pvt. Ltd., Mahindra Electric Mobility Limited, YOBykes Electric Bikes, TVS Motor Company, Ashok Leyland Limited, Emflux Motors Pvt. Ltd., Menza Motors, Fiat Group Automobiles S.p.A., Renault Group, Škoda Auto a.s., Infiniti a division of Nissan Motor Co. Ltd., Stellantis N.V., GAC Group, SAIC Motor Corporation Limited, Chery Automobile Co. Ltd., Polestar AB, Changan Automobile Co. Ltd., DAF Trucks N.V., Dongfeng Motor Corporation, Great Wall Motors Company Limited, Hino Motors Ltd., Isuzu Motors Limited, Mitsubishi Fuso Truck and Bus Corporation, Navistar International Corporation, Nikola Corporation, PACCAR Inc., Proterra Inc., Traton SE

Performance Disparity Challenges Commercial Electric Vehicle Market Growth

The difference in vehicle performance acts as a restraint on the growth of the commercial electric vehicle market. Electric vehicles provide excellent torque at low speeds, but at higher speeds, the performance drops. The range of current battery electric vehicles (BEVs) is typically 50 to 100 miles. For example, the Nissan LEAF electric vehicle has high torque (236 lb-ft) but relatively low power at 147 hp. The conventional fuel car Honda S2000, on the other hand, has a respectable 256 hp.

Technological Advancements Fueling Progress In Commercial Electric Vehicles

Technological advances to improve charging speed and enhance battery design are the latest trends in the commercial electric vehicle market. Manufacturers are looking at solid-state batteries that use graphene as the potential solution and are expected to increase both the range and the charging speed of the batteries in electric vehicles. Apart from the improvements in battery design and charging speed, there will be a significant shift toward diversifying the sources of power for EVs. Solar panels have already become much more efficient at capturing the sun’s energy. With the recent development of three-phase charging, the most modern electric vehicles can charge up to 80% in just 30 minutes. For instance, Earthday, a Catalan startup, introduced fast-charging graphene-based batteries that weigh only 55 kg and use a paste-like electrolyte based on graphene. Earthday claims that the graphene-based battery charges up to 1350 times faster than normal batteries based on lithium technology.

Innovation In The Commercial Electric Vehicles Market: Introducing Sierra Ev By GMC

Major companies operating in the commercial electric vehicles market are developing innovative products, such as Sierra EV, to meet the growing demand for electric vehicles and differentiate themselves from the competition. The Sierra EV is a fully electric pickup truck that offers uncompromising pickup capability, a GM-estimated 640 KM (400 miles) of range on a full charge, and unique features made possible only by its dedicated EV truck platform. For instance, in October 2022, GMC, a US-based automotive manufacturer, launched the first-ever Sierra EV pickup truck. The Sierra EV is a fully electric pickup truck that offers uncompromising pickup capability. It offers a long-range, impressive towing and payload capacity, and several unique features that make it more useful and versatile than traditional gasoline-powered pickup trucks. It is expected to be a popular choice for consumers and businesses alike.

Ashok Leyland Strengthens Commercial Electric Vehicle Portfolio With Acquisition Of Switch Mobility Automotive

In June 2021, Ashok Leyland, a company manufacturing automotive based in India, acquired Switch Mobility Automotive for an undisclosed amount. Ashok Leyland expands its commercial electric vehicle portfolio and invests in Switch Mobility, acquiring all of the company's shares. Switch Mobility Automotive is a company operating commercial electric vehicles based in the UK. Asia-Pacific was the largest region in the commercial electric vehicles market in 2023. The regions covered in the commercial electric vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the commercial electric vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The commercial electric vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The commercial electric vehicles market research report is one of a series of new reports from The Business Research Company that provides commercial electric vehicle market statistics, including commercial electric vehicle industry global market size, regional shares, competitors with a commercial electric vehicle market share, detailed commercial electric vehicle market segments, commercial electric vehicles market trends and opportunities, and any further data you may need to thrive in the commercial electric vehicle industry. This commercial electric vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Passenger Electric Vehicles Market Definition And Segments

A passenger electric vehicle is a road motor vehicle that runs on electricity and is used to transport people and has a maximum seating capacity of nine people (including the driver). The main types in the passenger electric vehicle market are battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC], and a controller for managing the power electronics. The vehicle types involved are sedans, hatchbacks, and SUVs. The charging infrastructure involved is normal charging and high-power charging. The passenger electric vehicles market covered in this report is segmented – 1) By Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle 2) By Vehicle Type: Sedan, Hatchback, SUV 3) By Charging Infrastructure: Normal Charging, High Power Charging The passenger electric vehicles market size has grown exponentially in recent years. It will grow from $365.72 billion in 2023 to $479.83 billion in 2024 at a compound annual growth rate (CAGR) of 31.2%. The growth in the historic period can be attributed to research and development investments, consumer perception shift, early government incentives, initial automaker initiatives, regulatory emissions standards. The passenger electric vehicles market size is expected to see exponential growth in the next few years. It will grow to $1,348.65 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The growth in the forecast period can be attributed to infrastructure expansion, governmental support, automaker commitment, enhanced range and performance, consumer demand surge. Major trends in the forecast period include rising urbanization, battery technology advancements, expanding charging infrastructure, government incentives and policies, automaker investment.

Evolving Environmental Concerns Spur Demand For Passenger Electric Vehicles

The rising concerns about environmental factors, including global warming and climate change, are increasing the demand for electric vehicles and, subsequently, driving the passenger electric vehicle market. Due to rising environmental concerns, more people have been shifting to alternate modes of transport that cause less pollution. This has resulted in a substantial increase in the purchase of electric vehicles across the globe. Electric vehicles are one of the most sustainable modes of transportation as they do not emit climate-damaging greenhouse gases or health-harming nitrogen oxide. They are also relatively quieter and easier to operate. For instance, according to data by UNICEF, according to the Intergovernmental Panel on Climate Change (IPCC), the level of carbon dioxide in the atmosphere will be cut by 45 percent by 2030 to prevent global warming above 1.5oC and the threshold at which the worst impacts of climate change could be averted. These factors are expected to boost the demand for electric vehicles and drive the passenger electric vehicles market demand going forward.

Expanding Charging Infrastructure Driving Growth In The Passenger Electric Vehicles Market

The growing charging infrastructure is expected to propel the growth of the passenger electric vehicles market going forward. Charging infrastructure refers to the network of charging stations and related equipment that enables the charging of electric vehicles (EVs). Charging infrastructure offers the convenience of recharging, reduces gas emissions and air pollution, reduces dependence on fossil fuels, and facilitates the widespread adoption of passenger electric vehicles. For instance, in January 2023, according to Twilio Inc. a US-based cloud communications platform, by 2030, there would be 12.9 million publicly accessible EV charging stations. Therefore, the growing charging infrastructure is driving the growth of the passenger electric vehicles market. Major companies operating in the passenger electric vehicles market report are BYD Company Limited, Volkswagen AG, Toyota Motor Corporation, Stellantis N.V., Mercedes-Benz, Daimler AG, Ford Motor Company, General Motors Company, Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Hyundai Motor Company, Tesla Inc., Nissan Motor Corporation, Energica Motor Company S.P.A., Kia Corporation, Audi AG, Volvo Group, Renault SA, Dr. Ing. h.c. F. Porsche AG, Jaguar Land Rover Automotive PLC, Mitsubishi Motors Corporation, Citroën S.A, Mahindra & Mahindra Ltd., XPeng Inc., Guangzhou Xiaopeng Motors Technology Co. Ltd., Rivian Automotive Inc., Lucid Group Inc., Karma Automotive LLC, Zero Motorcycles Inc., Faraday & Future Inc., SAIC Motor Corp. Ltd., Changan Automobile Co. Ltd., Dongfeng Motor Corporation Ltd., Great Wall Motor Co. Ltd.

Challenges In Battery Capacity And Drainage Are Impeding The Growth Of The Passenger Electric Vehicles Market

Battery capacity and drainage challenges are significant challenges that are restraining the growth of the passenger electric vehicles market. The capacity of lithium-ion batteries, which are generally used in electric cars, decreases with the increase in the number of cycles of charging and discharging. An electronic vehicle's battery can be damaged due to high temperatures, overcharging, low voltages, and high charge current. There is also a risk of battery drainage while in the middle of the journey, which would leave the driver with no other alternative source of fuel or power where there is no electric charging station. For example, a report published in the Economic Times (Auto) suggested that the electric cars made by Mahindra performed poorly, and their battery capacity was not up to the required levels. The models tested could not even run 80-82 km on a single charge. These issues with batteries are limiting the use of electric vehicles, thus restraining the growth of the passenger electric vehicles market.

Technological Advancements In The Passenger Electric Vehicles Market For Extended Range

Companies in the passenger electric vehicles market are focusing on the development of technologies to increase the range of the vehicles. Automobile manufacturers have increased the battery range of their electric models by an average of 38 miles, which is equivalent to a cumulative 15% increase on average every year. Other developments include fluoride-ion batteries, which have higher performance compared to currently used lithium-ion batteries. The fluoride-ion batteries have greater energy density and are more eco-friendly than the current lithium-ion technology. With this new battery technology, an EV could go further on a pack of the same physical size or the same distance with a physically smaller battery pack, thus improving the range of the vehicle. Honda has already invested in the same and is working along with CalTech and NASA's Jet Propulsion Laboratory on this technology.

Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers

Major companies operating in the passenger electric vehicles market are focusing on innovative products such as electric vehicle batteries to drive revenues in their market. An electric vehicle (EV) battery is a critical component of electric vehicles, responsible for storing and supplying electrical energy to power the vehicle's electric motor. For instance, in May 2023, Gotion High Tech Co Ltd., a China-based battery manufacturing company for electric vehicles launched a new AV battery with a 1000 km range called Astroinno. The new battery may have a better energy density than typical lithium-iron-phosphate (LFP) batteries and be less expensive than those that primarily rely on nickel and cobalt. The energy density of the Astroinno battery is 240 watt-hours per kilogram (Wh/kg) at the cell level and 190 Wh/kg at the system level.

Club Car Expands Portfolio With Acquisition Of Garia A/S

In June 2022, Club Car, a US-based manufacturer and global leader in golf, consumer, and utility vehicles, acquired Garia A/S for an undisclosed amount. Through this acquisition, Club Car will expand into low-speed electric vehicles. Garia A/S is a Denmark-based manufacturer of electric vehicles for the utility, consumer, and golf markets. Asia-Pacific was the largest region in the passenger electric vehicles market in 2023. This region is expected to remain the largest during the next five years. The regions covered in the passenger electric vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the passenger electric vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The passenger electric vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended-range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The passenger electric vehicles market research report is one of a series of new reports from The Business Research Company that provides passenger electric vehicles market statistics, including passenger electric vehicles industry global market size, regional shares, competitors with a passenger electric vehicles market share, detailed passenger electric vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the passenger electric vehicles industry. This passenger electric vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electric Vehicle Charging Stations Equipment Market Definition

Electric vehicle charging station equipment refers to equipment that connects an electric vehicle to an electricity source to recharge the vehicle. The type of electric vehicle charging station equipment is AC charging, DC charging, and inductive charging that are used in different vehicle types such as battery electric vehicles (BEV), plug-in electric vehicles (PHEV), and hybrid electric vehicles (HEV). The AC charging converts power from AC to DC and then feeds it into the car’s battery. Different types of charging in electric vehicle charging stations equipment equipment are level one charging (120 volts), level two charging (240 volts), and DC fast charging (480 volts).

Electric Vehicle Charging Stations Equipment Market Segmentation

The electric vehicle charging stations equipment market covered in this report is segmented – 1) By Type: AC Charging, DC Charging, Inductive Charging 2) By Vehicle Type: Battery Electric Vehicles (BEV), Plug-In Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV) 3) By Charging Type: Level One Charging (120 Volts), Level Two Charging (240 Volts), DC Fast Charging (480 Volts)

An electric dryer is a dryer that dries clothes using electric heat. The blower and drum motors inside the dryer are also powered by electricity and the voltage used by electric dryers is 240 volts. The main types of electric dryers manufacturing market are spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryers, and other types. A spin dryer is a device that extracts water from clothes, linen, etc, by spinning them in a perforated drum The types of vents are vented dryers and ventless/condenser dryers. The distribution channels are specialty stores, company-owned stores, hypermarkets and supermarkets, online, and others. The various end-users are commercial and residential. The global electric dryers market is segmented - 1) By Type: Spin Dryers, Condenser Dryers, Heat Pump Dryers, Mechanical Steam Compression Dryers, Solar Clothes Dryer, Other Types 2) By Type Of Vent: Vented Dryer, Ventless/Condenser Dryer 3) By Distribution Channel: Specialty Stores, Company-Owned Stores, Hypermarkets and Supermarkets, Online, Other Distribution Channels 4) By End User: Commercial, Residential The global electric dryers market size is expected to grow from $11.81 billion in 2022 to $13.12 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services affecting many markets across the globe. The market size of the global electric dryers is expected to reach $19.04 billion in 2027 at a CAGR of 9.8%. Technological advances will drive the electric dryers market for dryers in the forecast period. Increased access to the internet and the use of smartphones supported the development and consumption of innovative technologically enabled appliances. More than 330 million people use the internet, taking the total number of global internet users to 4.72 billion by April 2021 and 48.2% of internet users accessed the web from a mobile device. Furthermore, increasing integration of the Internet of Things (IoT) allowed customers to connect with the dryers via the internet and remotely control essential tasks by collecting and exchanging data. This in turn drives the growth of electric dryers market in the forecast period. Major players in the electric dryers market are Haier Electronics Group, LG Electronics, SAMSUNG, Robert Bosch, Koninklijke Philips, Whirlpool, Panasonic, Groupe SEB, HAAN, and Conair. Increasing demand for online on-demand laundry services is expected to restrain the electric dryers market for dryers in the forecast period. The on-demand laundry services market is expected to be aided by a stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020 and 3.6% from 2021 to 2023. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to the World Bank, a US-based international financial institution, the growth of GDP in China amounted to approximately 8.1 percent in 2021. Stable economic growth, increasing internet penetration, and rising disposable income coupled with the hectic lifestyle of individuals will lead to an increase in on-demand laundry services, thereby limiting the growth of the market for dryers. Dryer manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy-efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient appliances. For example, in the USA, ENERGY STAR-certified dryers use 20% less energy than a standard washing machine. North America was the largest market in the electric dryers market in 2022. The regions covered in the global electric dryers manufacturing market analysis report are North America, Western Europe, Asia-Pacific, Eastern Europe, South America, the Middle East, and Africa. The countries covered in the electric dryers manufacturing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The electric dryers market consists of sales of spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryers, and other types. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric dryers market research report is one of a series of new reports from The Business Research Company that provides electric dryers market statistics, including electric dryers industry global market size, regional shares, competitors with an electric dryer market share, detailed electric dryers market segments, market trends and opportunities, and any further data you may need to thrive in the electric dryers industry. This electric dryers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

An electric Ironer is a tool for leveling clothes and fabrics and uses power within a range of 300-1000W. The main product types of electric ironers market are dry iron, steam iron, and garment steamer. A dry iron has a soleplate that heats up and is pressed on the crumpled clothes to make them smoother. The functions used are automatic and non-automatic. The distribution channels involved are offline and online. The applications are residential and commercial. The global electric ironers market is segmented - 1) By Product Type: Dry Iron, Steam Iron, Garment Steamer 2) By Function: Automatic, Non-Automatic 3) By Distribution Channel: Offline, Online 4) By Application: Residential, Commercial The global electric ironers market size grew from $0.82 billion in 2022 to $0.88 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global electric ironers is expected to grow to $1.11 billion in 2027 at a CAGR of 6.0%. Rapid Urbanization is expected to contribute to the growth of the ironers market in the forecast period. Globally, the percentage of the population living in urban areas is expected to increase from 56.2% in 2020 and reach 68% by 2050. The growth in the urban population coupled with the increasing demand among the millennials to look well-dressed, the rise in disposable incomes, and increasing affordability among residents of cities will drive the demand for ironers. Major players in the electric ironers market are GE, Hamilton Beach, Joy Mangano, Kenmore, Electrolux, Haier, FlyCo., LG, Applica, and Black and Decker. Increasing demand for online on-demand laundry services is expected to restrain the market for ironers in the forecast period. The on-demand laundry services market is expected to be aided by a stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020 and 3.6% from 2021 to 2023. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to the World Bank, a US-based international financial institution, the growth of GDP in China amounted to approximately 8.1 percent in 2021. Stable economic growth, increasing internet penetration, and rising disposable income coupled with the hectic lifestyle of individuals will lead to an increase in on-demand laundry services, thereby limiting the growth of the electric ironers market. There has been a growing popularity of smart home ironers in the market. Smart home ironers are devices that are connected to other devices via the internet, and other technologies such as Bluetooth, near-field communication (NFC), and Wi-Fi. The increased popularity of smart appliances can be attributed to the increased demand for smart homes, the rise in internet and smartphone penetration, and energy efficiency initiatives. The rise of the Internet of Things (IoT) technology also supports the development of smart appliances. For instance, smart ironers contain an accelerometer chip installed in them which automatically switches off the iron by detecting the idle state. Bluetooth-enabled ironers can provide the users with the status of the iron such as temperature, power usage, etc. on their mobile phone and other Bluetooth-enabled devices. North America was the largest region in the electric ironers market in 2022. The regions covered in the global electric ironers market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric ironers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The electric ironers market consists of sales of dry iron, steam iron, and garment steamer. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric ironers market research report is one of a series of new reports from The Business Research Company that provides electric ironers market statistics, including electric ironers industry global market size, regional shares, competitors with electric ironers market share, detailed electric ironers market segments, market trends and opportunities, and any further data you may need to thrive in the electric ironers industry. These electric ironers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electric Vehicle Charging Stations Market Definition And Segments

An electric vehicle charging station refers to equipment that connects an electric vehicle to an electricity source to recharge the vehicle and keep the vehicle in motion. These are environmentally friendly as they do not emit pollutants. The main types of installations in electric vehicle charging stations are home charging systems and commercial charging systems. Home chargers are typically employed with 230V/15A single-phase plugs capable of producing up to 2.5 KW of output power. The different connector types include CHAdeMO, CCS, GB/T, Tesla Supercharger, and others, and have various charging modes such as plug-in charging systems and wireless charging systems. The several charging stations include AC charging stations and a DC charging station. The electric vehicle charging stations market covered in this report is segmented – 1) By Installation Type: Home Charging System, Commercial Charging System 2) By Connector Type: CHAdeMO, CCS, GB/T, Tesla Supercharger, Other Connector Types 3) By Mode Of Charging: Plug In Charging System, Wireless Charging System 4) By Charging Station: AC Charging Station, DC Charging Station The electric vehicle charging stations market size has grown exponentially in recent years. It will grow from $7.74 billion in 2023 to $9.45 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. The growth in the historic period can be attributed to increasing investments by governments, reducing cost of EV batteries and growing demand for electrical vehicles. The electric vehicle charging stations market size is expected to see exponential growth in the next few years. It will grow to $23.18 billion in 2028 at a compound annual growth rate (CAGR) of 25.1%. The growth in the forecast period can be attributed to rise in fuel rates, rising popularity of charging vehicles overnight at home for lower costs, rapid growth in ecommerce and restrictions on sales of petrol and diesel vehicles will drive the growth. Major trends in the forecast period include focusing on charging as a service offerings in order to cater to more customers and offer greater flexibility, offering doorstep ev charging for improved private charging, focusing on ev roaming for effective on-demand service delivery and focusing on sustainable battery management systems.

Incentives And Subsidies For Electric Vehicle (EV) Charging Stations Market

Increasing tax incentives and subsidies given to local automakers to produce electric vehicles are driving the demand for the electric vehicle (EV) charging station market. Tax incentives and subsidies to the electric vehicle makers are encouraging automakers to make more Electric vehicles which will generate more demand for EV charging stations. China's subsidy policy caused a 53% increase in the manufacture and sale of electric vehicles in the country. Electric vehicle sales in China were almost four times the numbers sold in the USA, the growth in sales in China is majorly attributed to the subsidy policies and tax incentives given by the Chinese government.

Increasing Demand For Electric Vehicles In Electric Vehicle (EV) Charging Stations Market

The increasing demand for electric vehicles (EVs) is expected to propel the growth of the electric vehicle (EV) charging stations market going forward. An electric vehicle (EV) is powered by one or more electric motors, using electricity stored in batteries or other energy storage devices as its primary energy source. Electric vehicle (EV) charging stations, also known as EV chargers or charging infrastructure, are specialized facilities or devices designed to charge electric vehicles to recharge the batteries of electric cars, plug-in hybrid vehicles (PHEVs), and other electrically powered vehicles. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles were 10 million in 2022, and there will be an increase of 14 million sales of electric vehicles in 2023. Therefore, the increasing demand for electric vehicles (EVs) is driving the growth of the electric vehicle (EV) charging station market. Major companies operating in the electric vehicle charging stations market report are Henry Schein Inc., Envista Holdings Corporation, Straumann Group, DENTSPLY Sirona, Dentium Co Ltd: Teld New Energy Co Ltd., IONITY, ChargePoint, Inc., EV Connect Inc., Blink Charging Co., Wanbang Xingxing Charging Technology Co., Ltd., Hangzhou Aoneng Power Supply Equipment Co., Ltd., Magenta Power Private Limited, Midgard Electric, Delta Electronics, Inc., XPeng Inc., TGood, Tata Motors Limited, Siemens AG, Schneider electric, Eaton, SemaConnect, ECOtality, Engie, Leviton Manufacturing Co., Inc., Webasto Group, TotalEnergies, Electra, AVT & Co, CityDock, Elektromobilita, CEZ Group, GreenWay, PKN ORLEN, Tauron Polska, Revnet, PGE Polska Grupa Energetyczna S.A., Ekoenergetyka - Polska S.A., Phihong USA Corporation, EV Safe Charge Inc., Tesla, AeroViroment, Inc., Wi Tricity Corporation, Mojo Mobility, Inc., Enel X, Driivz Ltd., EVBox, Tritium, Wallbox Chargers, S.L., Metro Africa Xpress, Inc., GridCars (Pty) Ltd., Jaguar

Range Limitations In Electric Vehicle (EV) Charging Stations Market

The limited range of electric vehicles is hindering the electric vehicle (EV) charging stations market growth. Electric vehicles have a limited range as compared to traditional internal combustion engine vehicles due to their limited battery capacity. Electric vehicles can’t be used in the case of long-distance travel, which causes the slow growth of electric vehicles. A survey conducted by BBC involves a sample of 10,293 drivers out of which 76% of the drivers said that a single-charge electric vehicle can't travel long distances.

Advancements With Supercharger V4 In Electric Vehicle (EV) Charging Stations Market

Companies in the industry are increasingly offering ultra-quick charging capabilities of the direct current (DC) to aid performance optimization and ultra-fast charge. The ultra-quick charging technologies of direct current (DC) are used in electric vehicle charging stations to transfer current to electric vehicles through DC. DC fast charging or level 3 charging is capable of charging 80% of the electric vehicle battery within 20 minutes. DC fast charging stations with ultra-quick technology provide high-power DC up to 120 kW directly into the vehicle’s battery without passing through any onboard AC/DC converter. The necessary conversion from AC to DC by a convertor done in case of the AC charging process can be eliminated. In 2022, Tesla an American automotive and energy company revealed the supercharger V4’s design as part of the construction plans for a new station being deployed. Greenlots, an electric transportation company, has set plans to deploy 9 DC Fast charging stations across Central Washington. Electrify America, an electric vehicle charging network company, installed its first DC Faster charger in Massachusetts, USA, and is planning to invest $500 million to outfit the electric charging stations in 484 locations with 2000 DC fast chargers.

Technological Innovations In Electric Vehicle (EV) Charging Stations Market

Major companies operating in electric vehicle (EV) charging stations are focusing on innovating new technologies, such as Charge Cloud, to provide reliable services to customers. Charge Cloud is used by electric vehicle (EV) charging station operators and provides an end-to-end solution for managing and operating EV charging networks. For instance, in July 2023, TecSo ChargeZone Ltd., an India-based electric vehicle (EV) charging infrastructure company, launched Charge Cloud. Charge Cloud is an operating system for electric vehicle (EV) charging networks. This provides software-as-a service (SAAS) solutions. This is a unified management platform for charge spots, remote management, real-time dashboards, and management information system (MIS) reporting.

Chargepoint Inc. Acquired Viriciti Bv

In August 2021, ChargePoint Inc., a US-based electric vehicle infrastructure company acquired ViriCiti BV for $88 million (€75 million) in cash. The acquisition of ViriCiti will provide the firm with access to a much broader software feature set for users, including battery health monitoring, vehicle operations data, and enhanced vehicle telematics possibilities, in addition to ChargePoint’s core offerings of charger management and vehicle charger scheduling. ViriCiti BV is a Netherlands-based company that provides electric vehicle charging solutions. Asia-Pacific was the largest region in the electric vehicle charging station market in 2023. North America was the second-largest region in the electric vehicle charging station market report. The regions covered in the electric vehicle charging stations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the electric vehicle charging stations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain The electric vehicle charging station market consists of revenues earned by entities by providing services such as aerial maps, getting updates on charging, and recommendations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric vehicle charging station market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charging station market statistics, including electric vehicle charging station industry global market size, regional shares, competitors with electric vehicle charging station market share, detailed electric vehicle charging station market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charging station industry. This electric vehicle charging station market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.