Electric vehicles: the future of the automotive industry
CHICAGO, 23 November 2021 / PRNewswire / – Electric Vehicle Charging Market Providers Helping Countries Increase Electric Vehicle Penetration By Investing In And Installing More Electric Vehicle Charging Points In Countries As It Is one of the biggest challenges in the electric vehicle market. The government’s initiative to cut pollution is one of the next big moves to push the adoption of electric vehicles around the world. Major vendors focus on complementary golf products to maximize revenue generation in the global market. Arizton’s research reports on automobile mobility offers up-to-date analysis regarding the current market scenario, the latest trends and drivers, and overall market information. Observing these rapid and drastic changes in demand and supply patterns has encouraged industry analysts at Arizton to publish comprehensive and data-based information on these recent trends in the industry.
1. Electric Vehicle Charging Infrastructure Market – Global Outlook and Forecast 2021-2026
Electric vehicle charging infrastructure market size to reach $ 14 billion by 2026, with a CAGR of 35.81% during the forecast period. With the rapid increase in demand for electric vehicles, wireless charging technology is expanding globally, with consumers demanding wireless charging or mobile charging for electric vehicles. Many automotive players are partnering with key market vendors and other manufacturers adding custom charging infrastructure to expand their product portfolio. The initiative towards a cleaner future in 2020 by many countries has increased the growth of electric vehicles around the world.
The Electric Vehicle Charging Systems (EVCS) market is highly dependent on the successful adoption of electric vehicles in the global market. Many car manufacturers such as Tesla, Nissan and others increase their offerings in EVCS business models to facilitate invoicing of their customers by increasing the number of value propositions and product offerings. Over the next few years, the growing fund for electric vehicle charging systems from government agencies in various countries is expected to propel the demand for charging systems among electric vehicle owners.
Impact of COVID-19
During the outbreak of the COVID-19 pandemic, people discovered the importance of adopting an electrified transportation system. With over a million electric cars on the road in United States, the electric vehicle industry is at a tipping point, with prices falling, leading to increasing innovation and scaling up of electric vehicles. During the pandemic, the number of electric vehicle charging systems grew at a faster rate than the previous year, due to various plans announced by several countries to accelerate the adoption of electric vehicles and increased spending in electric vehicle charging infrastructure. Due to the impact of the pandemic on the supply chain and the government-imposed lockdown, manufacturing and sales of new electric cars came to a halt in the first and second quarters of 2020 globally. However, sales of EV charging systems increased in the third and fourth quarter of 2020, especially for private and semi-public charging. This will significantly increase the demand for these products in the automotive industry during the forecast period.
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2. Europe Electric Two-Wheeler Market – Industry Outlook and Forecast 2021-2026
The Europe electric two-wheeler market was valued at $ 7.42 billion in 2020 and should reach $ 15.55 billion by 2026. Electric mobility is undergoing an early adoption phase in Europe, with margins above 1% in several countries. In Europe, the EU 2020 strategic goals encourage policymakers to provide incentives for low-carbon vehicles, in particular electric two-wheelers. Thus, these tax and subsidy related incentives should encourage market demand for electric vehicles by Europe, resulting in increased unit shipments and revenues. The market has become more consolidated, with large suppliers such as Askoll, Piaggio, Energica, Pierer Mobility and BMW accounting for most of the sales. The demand for high power electric motorcycles is increasing rapidly through Europe. High power electric motorcycles are increasingly adopted by consumers and are expected to become an important trend during the forecast period.
Interesting facts to know!
- In november 2020, Scania (transport solutions provider), EVBox Group and ENGIE have joined forces to accelerate the development of electric bus and truck solutions in Europe.
- Suppliers such as BMW and Zero Motorcycle are among the major suppliers to launch high power electric motorcycles to grab the high market share.
- The adoption of electric vehicles, including electric two-wheelers, will continue to be driven by ambitious government goals by 2030.
- Nickel-metal hydride batteries have replaced Ni-Cd (nickel-cadmium) batteries for portable use by consumers in Europe.
Get more information now: https://www.arizton.com/market-reports/europe-electric-two-wheeler-market
3. Golf Carts and Strollers Market – Global Outlook and Forecast 2021-2026
The global market for golf carts and strollers should reach $ 4.23 billion by 2025 and is expected to grow at a CAGR of 4.64% during the period 2021-2026. Governments around the world are investing in increasing the prices of local land and real estate and expanding golf courses around the world, thereby accelerating the growth of the golf carts and strollers market. For example, Vietnam in Asia assists in the development of several luxury golf courses, like the Ho Chi Minh Golf Trail, which connects six luxury resorts and golf courses across the region. The golf cart rental business is also important for public events such as exhibitions, musical events and weddings. Europe is one of the largest markets for golf courses, where golf cart rental services are also growing. Golf Buggy Hire from SHB is one of the most renowned golf cart rental companies in Europe. Innovation and a more user-friendly customer experience will help the golf cart and stroller market accelerate growth in the years to come.
- Garia has opened an online store that offers Garia cars for purchase online. The company offers the online shopping of various luxury cars such as the Garia Special Edition, which also offers online sales inspired by the Mercedes Benz Style Edition Garia Golf car.
- Zoom Around, a golf cart rental company in Florida, offers electric vehicles and innovative golf carts at affordable prices.
- Utility golf carts are in high demand in terms of revenue and unit shipping and are expected to project additional revenue of $ 0.09 billion and shipment of additional units of 14.85 thousand units during the forecast period.
Get more information now: https://www.arizton.com/market-reports/golf-cart-buggy-market-size-analysis
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SOURCE Arizton Consulting & Intelligence