An electric vehicle (EV) charging station provides power to refuel plug-in electric vehicles, such as battery electric vehicles and hybrid electric vehicles. With these infrastructures, there are typically three different charging options: inductive, DC, and AC charging. EV charging stations are furnished with an assortment of connectors to accommodate a range of charging requirements, such as the Type-2, CHAdeMO, Tesla Supercharger, and the Combined Charging System (CCS). Customers may easily and conveniently charge their cars at these stations because they are frequently situated on lots adjacent to supermarkets, workplaces, residences, and commercial buildings. They are therefore become more and more well-liked across Japan.
According to SPER market research, ‘Japan EV Charging Station Market Size – By Charging Type, By Vehicle Type, By Charging Station Type, By Installation Type, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Japan EV Charging Station Market is predicted to reach USD 2.64 billion by 2033 with a CAGR of 20.07%.
Drivers:
The primary driver of the Japanese market for electric vehicle charging stations is the increasing production and usage of hybrid electric vehicles (HEVs) and electric cars (EVs). The growing cost of gasoline and the growing appeal of electric and hybrid vehicles (HEVs) from an economic standpoint are further factors driving demand for efficient electric car charging stations. Moreover, the market for electric vehicles is being supported by the government of Japan’s initiatives to reduce carbon emissions. Furthermore, incentives and subsidies are being offered by pertinent regulatory bodies to promote the production and utilization of electric vehicles. Thus, the construction of a charging infrastructure becomes essential.
Challenges:
When constructing a strong EV charging station in a remote area, new power lines and transformers might need to be installed. These fixes could cost a lot of money. It’s possible that these locations don’t get enough traffic to justify the costly installation and upkeep of charging stations. Since it may be challenging to persuade financiers to construct EV charging stations in these remote places, prospective owners may have limited options for charging. Due to safety regulations, the cost of installing high-output chargers with more than 200 kW has gone up. In addition to ongoing running costs, the deployment of these charges requires tens of millions of yen.
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Impact of COVID-19 on Japan EV Charging Station Market
Unprecedented repercussions have been created by the COVID-19 pandemic on several industry sectors, most notably the automotive sector. This factor might negatively affect the demand for EVs in the early months of the pandemic and impede the share of electric car charging facilities. However, during the past year, EV sales have gradually increased due to looser rules and open trade agreements, which may lead to more industry growth in the years to come.
Japan EV Charging Station Market Key Players:
Additionally, some of the market key players are Tesla Inc, Tritium Charging, NEC Telecommunication and Information Technology Ltd, ABB Ltd.
Japan EV Charging Station Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Charging Type: Based on the Charging Type, Japan EV Charging Station Market is segmented as; Off-Board Top-Down Pantograph, On-Board Bottom-Up Pantograph, Charging Via Connector.
By Vehicle Type: Based on the Vehicle Type, Japan EV Charging Station Market is segmented as; Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Hybrid Electric Vehicle.
By Charging Station Type: Based on the Charging Station Type, Japan EV Charging Station Market is segmented as; AC Charging Station, DC Charging Station, Inductive Charging Station.
By Installation Type: Based on the Installation Type, Japan EV Charging Station Market is segmented as; Portable Charger, Fixed Charger.
By Application: Based on the Application, Japan EV Charging Station Market is segmented as; Residential, Commercial.
By Region: This research also includes data for Kanto, Kansai/Kinki, Central/ Chubu, Kyushu-Okinawa, Tohoku, Chugoku, Hokkaido, Shikoku, Rest of Japan.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Japan EV Charging Station Market Revenue
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