EV Fast Charging Infrastructure Market Size, Share, and Growth Insights

In 2021, the electric vehicle fast-charging market contributed $3,240.7 million, and it is projected to generate $18,909.8 million revenue in 2030, rising at a rate of 21.7% from 2021 to 2030. It is ascribed to the worldwide growing sales of the EV, resulting in zero-emission transportation. Moreover, public charging holds a substantial share of the industry, and it is expected to rise at a rate of 22% from 2021 to 2030, ascribed to the massive installation of public fast chargers for the adoption of EVs. Numerous EV and OEM network operators are establishing public fast chargers at hospitality facilities, retail houses, government offices, parking lots, offices, gas, fuel stations, and other areas.

The Bipartisan Infrastructure Law has allocated around $7 billion for EV charging infrastructure development in the U.S., aiming at the deployment of 500,000 public chargers by 2030 in the country. The rising adoption of the E.V. proliferates the demand for the development of the EV charging infrastructure. GB/T holds the significant revenue share of the EV fast charging infrastructure industry, amounting to ~$1.2 billion, and it is expected to rise at a 20% rate in the coming future. It is attributed to GB/T DC fast-charging technology provides faster charging of up to 250 kW of power. Moreover, superchargers are projected to experience extensive development in the coming future, as they fit the long-distance travel and intend to charge Tesla swiftly. This is why Tesla Inc. captures a larger share of the global electric car industry. Superchargers, provide lucrative opportunities to industry players. Moreover, the price drop in the Tesla models leads to their rising sales which, in turn, fuels the growth of the supercharger industry. EV fast chargers with a capacity of <100-kW are projected to capture a significant share of the industry in the coming future, rising at a rate of over 21% from 2021 to 2030. It is due to fast chargers with a 100-kW power output that are affordable and provide fast charging in 1 to 2 hours. These are usually installed at retail shops, hotels, and shopping malls. Another major factor that supports the sales of <100-kW chargers in the EV fast-charging infrastructure industry is the growing need for energy from higher-kW chargers and the lack of energy, due to unreliable grid connectivity, for supporting such technology.

Global Demand for Automotive Bearings Set to Shoot-Up in Coming Years

“A major factor fuelling the demand for automotive bearings is the increasing focus of automobile manufacturers throughout the world on reducing the weight of the vehicles” as these bearings contribute significantly to the total weight of an automobile. Many automakers are increasingly incorporating advanced bearings in their vehicles, especially in sport utility vehicles (SUVs) and modern cars in order to reduce the weight of the vehicles, which will, in turn, increase their efficiency.

Apart from being lighter in weight, these advanced bearings also have higher stiffness and durability, on account of the advanced lightweight substances that are used for manufacturing them. Automobile manufacturers are also incorporating improved forging techniques and low tolerance in the production processes of the bearings for reducing their weights. Besides these factors, the increasing sales of passenger cars, on account of the flourishing automotive industry, particularly in the developing nations such as India, Indonesia, Thailand, and China, is also contributing toward the burgeoning sales of automotive bearings across the world. Hence, with the growing adoption of lightweight bearings in vehicles and soaring sales of automobiles all over the world, the global automotive bearing market will grow, in valuation, from $33.4 billion to $53.3 billion from 2018 to 2025. “The market is also expected to advance at a CAGR of 6.9% from 2018 to 2025, as per the forecasts of the market research company, P&S Intelligence”. Roller bearings, plain bearings, and ball bearings are the most common types of bearings used in vehicles, out of which, the demand for ball bearings was observed to be the highest in the past. These bearings are usually sold by original equipment suppliers (OESs), independent aftermarket (IAM), and original equipment manufacturers (OEMs). Out of these, “the sales of automotive bearings through the OEM sales channel is predicted to increase at the fastest rate across the world”. This is mainly because of the fact that the bearing manufacturing companies are rapidly manufacturing advanced products and enhancing their manufacturing capacities, platforms, and related services for providing better products and services to the consumers, which is, in turn, increasing the demand for these materials from the OEMs. From passenger cars and commercial vehicles to electric vehicles and two-wheelers, these bearings are used in almost every type of vehicle around the world. Out of these vehicles, “the utilization of automotive bearings was recorded to be considerably high in the electric vehicles in the last few years”. This primarily due to the large-scale adoption of electric vehicles in several countries around the world, on account of the presence of favorable government policies such as subsidies and other incentives on the purchase of these vehicles and the high pollution levels caused from the fuels-powered automobiles. In terms of material used, the bearings are divided into different types namely solid polymer, metal polymer, and fiber-reinforced composite bearings. Out of these different variants, “the sales of the metal polymer bearings was found to be the highest all over the world over the last few years”. This is credited to the numerous advantages of these bearings over the other types such as their longer lifespans and cost-effectiveness and dimensionally stable and minimal stick-slip characteristics. Till now, “the automotive bearing market registered the highest growth, in terms of volume, in Asia-Pacific (APAC)”. “In the APAC region, China recorded large-scale usage of these bearings in the past and this trend is predicted to continue in the forthcoming years as well". This is predominantly because of the increasing sales of automobiles in the country and the subsequent surge in the demand for these bearings, especially the small-sized and low-end ones in the country.

North America Dominating the Connected Car Market

The connected car market will progress at a mammoth growth rate of over 24%. The growing requirement for an improved driving experience, acceptance of the IoT in the automotive sector, and apprehensions being raised over the safety of the vehicles and security are the key factors responsible for the increasing need for connected cars. The largest demand was held by the driver assistance service category in the industry in the recent past. This had much to do with the large-scale incorporation of advanced driver assistance system features in vehicles because of the apprehensions of people over the safety of the vehicles and the enactment of advantageous policies and regulations of the government with respect to ADAS, which is increasing the demand for connected cars. In numerous nations, the authorities have made the fitting of ADAS features in all new vehicles compulsory.

5G will have the fastest growth in the years to come. This is because of the increasing necessity for driving-related info in vehicles, because of its ability to decrease the latency time and advance the general driving experience, by offering real-time traffic updates to the driver. Moreover, the increasing demand for improved coverage enhancement around the world is boosting the incorporation of the 5G communication technology in automobiles. The OEM category was the industry dominator in the past. This will also hold a larger share compared to the aftermarket category in the near future. This will be possible because of the higher requirement for these solutions amongst OEMs because of the implementation of strict government regulations with regard to vehicle and passenger safety all over the world. Thus, vehicle manufacturing companies are needed to provide numerous built-in technologies in their automobiles. North America was the largest consumer of connected cars owing to the huge requirement for the same and cutting-edge technologies in passenger automobiles. Connected cars have roadside assistance, automobile diagnostics, smartphone connectivity, real-time traffic update features, and traffic and collision warning. Essentially, the increasing necessity for a safe driving experience and snowballing application of promising policies by state and central governments concerning improved driving technologies are pushing the demand for connected cars. In the present scenario, people want a pleasurable driving experience with the enhanced safety of the vehicles, keeping both things in consideration, the demand for connected cars is on the rise across the globe.

The commercial electric vehicle market is experiencing significant growth. The success of the industry is majorly credited to the snowballing apprehensions about greenhouse gas emissions, decreasing cost and increasing operational efficiency of batteries, and also the numerous long-term benefits of commercial electric vehicles for the people all over the world.

APAC was the fastest and largest growing industry in the recent past and projected to continue its dominance in the coming years also. This is mainly due to the Chinese government’s initiative to increase their overall share of electric buses in the transportation system of the country, improving the operational efficiency of batteries, and reducing their prices. The decreasing cost and better operational efficiency of batteries is the major contributor to the industrial growth in the region. According to industry experts, the average price of Li-ion battery packs for large orders decreased from about $642/kWh in 2012 to about $209/kWh in 2017. As the battery costs over 40% of the electric vehicle manufacturing expanse, if the cost of the battery is low, then the manufacturers can decrease the cost of manufacturing which would increase their sales. The increasing acceptance of commercial EVs in developing countries is generating various opportunities for the key players. In the past few years, the urban population in Brazil and India, has grown at a significant rate. Battery electric vehicles in terms of both value and volume are projected to hold the largest market share in the years to come. This can be credited to the surging government assistances including incentives, subsidies, and other economic aids, to encourage the acceptance of eco-friendly commercial EVs. Electric trucks had a larger share in the past. The sales volume of electric trucks under the HDT category is projected to grow at the fastest rate in the coming years. Due to the snowballing freight demand throughout the world and significant financial development in China. The commercial electric vehicle market in other parts is still in its emerging phase and majorly dependent on government policies. The manufacturers of electric buses are few and, these buses are comparatively more expensive than gasoline or diesel-based engine buses, which in turn, has limited the sales of such vehicles in other regions. Though, the manufacturers in other regions are doing heavy investments for the expansion of commercial EV industry, which indeed will contribute to the growth of the industry in the years to come. Therefore, the decreasing cost and better operational efficiency of batteries and the increasing acceptance of commercial EVs in developing countries, and also supportive government norms will drive the demand for commercial electric vehicles in the future.

Browse Full Report Commercial Electric Vehicle Market Size

Reasons Behind Why Does APAC Holds Largest Share in Micromobility Telematics Market

Some of the key factors propelling the micromobility telematics market expansion are the growing need for first- and last-mile transportation, substantial expenditures on micromobility, and rising demand for micromobility services. Due to all these factors, the market is projected to reach $13,010.4 million by 2030. The market is anticipated to grow quickly because of the quick integration of locking mechanisms, network services, smartphone connections, and fleet optimization into such services. Market participants are creating increasingly sophisticated software as micromobility becomes widespread. As a result, throughout the forecast period, the software market is expected to grow at the highest rate. The software also primarily consists of device drivers, operating systems (OS), voice recognition tools, and application programming interfaces (API), which offer connection, navigation, and security and safety solutions. Being stopped on the road during traffic congestion leads to lost productivity and working hours. Not only does it destroy individual productivity, but it also affects company productivity. This problem is solved by micro-mobility transportation, including e-bikes and electric scooters, which offer a more portable mode of transportation and help lower the number of automobiles on major highways. The majority of micromobility users choose alternate routes because they are not permitted on major thoroughfares, which reduces traffic. E-scooters and e-bikes allow users to avoid traffic and get to their destination more rapidly. By providing mobility alternatives for shorter distances, micromobility services play a crucial role in bridging the first- and last-mile mobility gap, which is a fundamental element in the market's expansion. These services are often utilized for trips that span less than 5 kilometers. Additionally, these services are frequently provided using a dock-less or station-less paradigm, allowing customers to return the car wherever it is most convenient for them, further facilitating first- and last-mile travel. The APAC has the largest market share for micromobility telematics services globally. High investments and the emergence of technological start-ups in APAC are contributing to the market's expansion. To acquire the first-mover advantage, the players are concentrating on offering affordable micromobility services

Get More Details Micromobility Telematics Market Growth, Opportunities and Forecast to 2030

Malaysia Micromobility Market Will Grow at a High Pace

Due to their low costs and capacity to offer more convenience than traditional mobility services, micromobility services are becoming increasingly popular in Malaysia for last- and first-mile commuting. These services are typically offered using a station-less or dock-less paradigm, allowing clients to drop off their cars wherever it is most convenient. For instance, due to their capacity to offer affordable transportation, bike-sharing programs have seen a significant increase in popularity across the nation in recent years. In contrast to owning a personal car, which often involves significant investments due to fuel costs, insurance costs, maintenance costs, and parking prices, micromobility services are quite economical. Users of micromobility services can pay only for the time they actually utilize the service, leaving the management of extra expenditures like gasoline, insurance, parking, and maintenance to the mobility service providers. The Malaysian micromobility market is growing due to shared micromobility services' affordability and convenience. The development of technology is a major trend in the Malaysian micromobility sector. The micromobility service is built on mobile applications, where users and service providers connect to arrange trips and settle associated bills. A number of platforms have been introduced as a result of ongoing technological advancements, making it easier to access services. One such breakthrough is cloud sharing, which offers consumers low-cost access to computer resources relating to networks, software, storage, databases, and analytics. The IoT also contributes to process optimization by making it possible to track and monitor vehicles, manage routes, and assess potential issues from a distance. Owning a private automobile necessitates a significant financial commitment, which is made up mostly of the costs of the vehicle, fuel, parking, maintenance, and insurance. In this way, consumers of micromobility services are able to make use of the benefits of possessing a personal vehicle without having to actually purchase one. Only on the basis of their use may users make payments. Additionally, the suppliers of mobility services cover extra expenditures, including those for parking, gasoline, maintenance, and insurance.

Subscription Model Likely to be Adopted More in EV Battery Swapping Market in India The adoption of electric rickshaws in India has increased considerably in the past few years. A major reason for this the increasing support from the government of the country for encouraging the adoption of electric vehicles. The need for convenient public mobility options that facilitate travel for short distances is high in the country. Moreover, the need for cheap public mobility is also high in India, since most of the population belong to middle-class and low-class communities.

In such a scenario, electric rickshaws are the perfect option, as it offers convenient mobility services at low cost. The batteries of these vehicles however need to be charged frequently for their smooth functioning. Most electric vehicles in the country employ slow charging systems that take up to eight hours. This can result in significant revenue loss for people who offer public mobility solutions to people. In terms of vehicle type, the Indian electric vehicle battery swapping market is divided into commercial vehicle, two-wheeler, and three-wheeler, among which, the three-wheeler division is predicted to account for over 90% share of the market in the years to come. The daily operational hours of these vehicles is increasing, which is why, the popularity of battery swapping technology is rising among customers. These vehicles are majorly utilized for passenger carriage, and run for more than 100 km, on a daily basis. Due to this, they need to be charged quickly, which can be facilitated by the battery swapping technology. On the basis of service type, the Indian electric vehicle battery swapping market is categorized into subscription model and pay-per-use model, between which, the subscription model is expected to advance at a faster pace during the forecast period. The rising utilization of the battery swapping technology in commercial vehicles is predicted to eventually pave the way for growth of the subscription model. Since electric bus driver have a fairly good idea of how much distance is being covered in how much time, they are expected to be the major users of the subscription model in the years to come. In conclusion, the demand for the battery swapping technology is rising in India due to the increasing penetration of electric three-wheelers, favorable government policies, benefits offered by the technology.

E-Rickshaws Have Won in the Race for Electric Mobility in India

In India, the electric car revolution has already impacted people's lives. You might not have noticed because you reside in affluent areas, but little battery-powered "e-rickshaws" has become very popular. But this industry is mainly unstructured. According to data from the SIAM, only 1823 units were sold in July 2022. However, according to the FADA, which utilizes registration information from the VAHAN portal run by the Ministry of Road Transport and Highways, 25,984 such vehicles—counting passenger e-rickshaws solely—were bought and registered in India in July.

India is the third-largest emitter of carbon dioxide globally, contributing around 6% of all fuel-related CO2 emissions worldwide. Therefore, to make expensive electric rickshaws accessible and displace their traditional counterparts, the Indian government emphasizes offering benefits through taxes and subsidies. It's enough of that. The statistics reveal that there are more than a million e-rickshaws transporting people around India. If you travel quite a bit, you'll find that these little, rickety cars are more common towards the north. The plains' flatness and the pressing necessity for local transit account for some of this. And these little cars have already had a big economic impact. The unorganized, local businesses operating in the market are largely to blame for the industry's rapid growth in demand for electric rickshaws in India. These shady actors import axles, battery management systems, and motors for vehicles, then assemble them locally. The growing need for affordable mobility for first- and the last-mile connection is a key growth factor for electric rickshaw demand. The sharing of three-wheelers is an efficient and practical economic option for commuters. Electric rickshaws are frequently employed in cities around the nation for first- and last-mile connections since they have no exhaust emissions. These three-wheeled electric cars aid commuters fill service gaps in the public transportation system. An electric rickshaw service costs $0.14 per person per kilometer (km). If the rickshaw is shared, this is the fare. The cost is around $0.21 for a 5 km journey in a rickshaw. The driver makes about $1.70 (INR 120) for each trip to and from the location with four passengers. The finest affordable shared method of public transportation in the nation for last-mile connection can therefore be considered electric rickshaws.

Backed by Increasing Government Support, German Autonomous Vehicles Market to Exhibit Substantial Growth in Future

The German fully autonomous vehicles market is predicted to exhibit a CAGR of 20.2% between 2020 and 2030 andattain a valuation of $28.0 billion by 2030, as per the estimates of P&S Intelligence, a market research firm. The German autonomous vehicles market is being driven by the increasing implementation of various government initiatives that encourage the deployment of autonomous vehicles in the country and the rising requirement for a more efficient and safer driving option all over the country.

The German government was the first one in the entire world to authorize fully and semi-autonomous driving systems. The government announced its plans to build autonomous driving facilities and infrastructure in the country in December 2016. This was followed by an amendment to the Road Traffic Act in June 2017, which allowed drivers to give away driving controls to autonomous vehicles. As a result, there are many semi-autonomous automobiles (level 1—3) running on German roads today. In these vehicles, the steering and acceleration/deceleration can be controlled and operated by the vehicle itself but the driver is required to be on board so that in emergency situations, he/she can take over the driving controls. Furthermore, major original equipment manufacturers (OEMs) and technology developers are focusing on developing level 4 and level 5 autonomous vehicles. Moreover, they have got approval from the regulatory bodies for testing driverless automobiles on public roads. Some cities in Germany have allowed these OEMs to operate pilot fleets in isolated areas for testing the autonomous technology. Regular road traffic will be recreated in these isolated areas for testing the real-time reliability and performance of these vehicles. For example, Charité – Universitätsmedizin Berlin and Berliner Verkehrsbetriebe (BVG) in collaboration with Navya SAS and EasyMile SAS began a pilot projectin March 2018 for testing autonomous shuttle. This shuttle would be tested on Charité’s campus in Berlin. When vehicle autonomy is taken into consideration, the German autonomous vehicles market is divided into fully autonomous and semi-autonomous vehicles. Of these, the semi-autonomous vehicles had 100% share in the market in the years gone by. However, this will change in the future and the fully autonomous vehicles category will register the highest CAGR in the market between 2023 and 2030, owing to the development of fully autonomous vehicles, which are predicted to hit the market in 2023. The German autonomous vehicles market is also divided, depending on application, into ride hailing, motor coaches, personal cars, transit buses, and logistics. Out of these, the motor coaches category is predicted to exhibit the highest CAGR in the market in the coming years. This would be because of the rising popularity of shared autonomous vehicles all over the country, on account of the growing consumer preference for these services over the personal ownership of vehicles.

Asia-Pacific Anti-Drone Market to Witness 47.8% CAGR during 2018–2025

According to a report by P&S Intelligence, the Asia-Pacific (APAC) anti-drone market is predicted to generate $2,105.0 million by 2025, and is projected to advance at a 47.8% CAGR during the forecast period (2018–2025). The market is being driven by the rising number of illegal and terrorist activities, surging incidence of security contravention by unauthorized drones, close encounters with commercial aircraft, and drone detection cases. On the basis of platform type, the market is divided into ground-based, unmanned aerial vehicle (UAV)-based, and hand-held.

This is majorly because of the early adoption of these drones as compared to other technologies in the APAC region. This being said, players operating in the APAC anti-drone market are also focusing on developing innovative laser anti-drones for countering security threats that are posed by drones. When end user is taken into consideration, the market is classified into government, military & defense, commercial, and others. Out of these, the military & defense industry is predicted to contribute the largest revenue share to the market during the forecast period. This is because of the significant budget for the defense industry in APAC countries. Within, the region, China is projected to dominate the APAC anti-drone market during the forecast period. In 2017, the country accounted for 35%, which is owing to the fact that the government of the country has invested considerably in technology and armed forces for strengthening defense capabilities. When it comes to defense budget, China is on the 2nd rank in the world, and 7 of the world’s major defense companies are located in China.

To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/apac-anti-drone-market/report-sample The increasing adoption of counter-drones in emerging economies is opening up wide opportunities for the players operating in the APAC anti-drone market. While the adoption of this product is still in the initial stage in developing nations, including India and Japan, a surging demand for them is projected to be created by end users in the years to come. Furthermore, enhancements in interdiction range and detection efficiency in radio frequency jamming/spoofing and laser methods are also predicted to drive the demand for these products in the years to come. Hence, the growing number of illegal activities and rising adoption of counter-drones in developing countries are driving the market.