Car Charger Market — Growth in the Automotive Sector Booming Demands

Posted by RASHMI on April 29th, 2019

Car chargers are essential components of hybrid and electric vehicles. In terms of charging, there five notable types such as battery swapping charging, plug-in charging, wireless, direct current (DC) and alternating current (AC). AC charging dominates the global car charger market due to its rising acceptance among electric car owners.

In countries such as North America and Europe, there has been an increase in the rate of AC charging infrastructure installations at homes, parking areas, parks and commercial areas. Moreover, in the coming years, AC charging infrastructures are expected to be installed in roads so that the car can charge itself while in motion. DC charging, is a faster method of charging a vehicle. 

Increasing production of hybrid and electric vehicles, and rising demand for passenger hybrid-electric vehicles is a major driving factor for the car charger market. In addition, strict government guidelines and automobile standards relating to hybrid and electric vehicles is a major factor influencing the car charger market.

Get an exclusive sample of this report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=27446   

Growth in the automotive sector and rising investments in car charger manufacturing companies across the world is set to influence the market significantly during the forecast period. However, lack of penetration of hybrid and electric vehicles in numerous countries across the world is inhibiting the growth of car chargers market, which finds application in aforementioned vehicles. In addition, cheap substitutes of original car chargers is another major restraint for the global car charger market.