Monday, 6 January 2020

Electric Motors Market Analysis and Demand with Future Forecast to 2026


New York, NY 6 Jan 2020: Global electric motors market is anticipated to reach over USD 157.4 billion by 2026 according to a new study published by Polaris Market Research. In 2017, the AC motor segment dominated the global market, in terms of revenue Asia-Pacific is expected to be the leading contributor to the global market revenue of electric motors during the forecast period.

The diverse applications of electric motors in majority of industries such as healthcare, construction, packaging, automotive, and consumer goods among others are expected to support the growth of this market. Other driving factors include rising demand for electric motor in household appliances, growing use in HVAC applications, and government support for development of high efficiency electric motors are propelling the market growth. However, high maintenance costs, and stringent regulations hampering the market growth. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

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The growing adoption of electric vehicles is expected to support market growth of electric motors. The increasing requirement to reduce vehicle emissions and global carbon footprint drives the demand for electric vehicles. Use of electric vehicles offer benefits such as low maintenance costs, reduced harmful vehicle emissions, while providing comparable power.  Electric vehicles are increasingly being used to restrict the emission of carbon, nitrogen, and other harmful compounds from gasoline and diesel vehicles. This is one of the largest ancillary industry which is pushing the demand for electric motors globally.

Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The presence of emerging industries such as healthcare, agriculture, construction, and automotive, substantial initiatives in research and development, and favorable government policies drive the market growth. Rapid industrialization and growth of manufacturing industry further support market growth in the region.

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The different types of electric motors include AC motors, DC motors, and hermetic motors. In 2017, the AC motor segment accounted for the highest market share owing to the increasing demand for AC motors from industries such as agriculture, paper & pulp, and chemicals. They are majorly used in industrial applications and machine tools. Some key features offered by AC motors include controlled acceleration, low power demand on start, adjustable operational speed, adjustable torque limit, and reduced power line disturbances among others.

The well-known companies profiled in the report include Emerson Electric Co., Rockwell Automation, Inc., Ametek, Inc., Siemens AG, Denso Corporation, Bosch Group, Baldor Electric Co., ABB Ltd., Hitachi, Ltd., General Electric Company, Allied Motion Technologies, Inc., and Regal Beloit Corporation among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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Friday, 3 January 2020

Precision Farming Market Insights By Top Vendors, Growth, Revenue And Forecast Outlook 2019-2026


New York, NY 3 Jan 2020 : The global precision agriculture market is anticipated to reach over USD 13,016 million by 2026, According to a new study published by Polaris Market Research. In 2017, the yield monitoring application dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

There has been an increasing adoption of precision farming across the world owing to growing agricultural industry, and high-demand for food crops. The global precision farming market is driven by the increasing need to improve the quality of crops produced, maximizing crop production, and enhanced crop monitoring. Technological advancement along with government subsidies further boosts the market growth. However, high initial investment and lack of awareness limit the precision farming market growth.

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North America generated the highest revenue in the precision agriculture market in 2017, and is expected to lead the global market throughout the forecast period. This is due to high cost of labor, and presence of large farmlands in the North American region. Increasing investments and subsidies in the agriculture sector by governments boost the precision farming market growth during the forecast period in the region. Increasing need to improve food quality and productivity along with increased industrialization of farming equipment further supplements market growth.

Various applications of precision farming include irrigation management, crop scouting, yield monitoring, weather tracking and forecasting, field mapping, inventory management, and farm labor management. In 2017, yield monitoring accounted for the largest share in the global market, and was estimated at $1,974 million in 2017, registering a CAGR of 13.2% during the forecast period. This is attributable to the benefits offered by yield monitoring such as reduced cost, improved yields, and enhanced decision making. Yield monitoring is further divided into on-farm yield monitoring, and off-farm yield monitoring.

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The well-known companies profiled in the report include Ag Leader Technology, AGCO Corporation, Deere and Company, Topcon Corporation, Trimble, Inc., The Climate Corporation, Farmers Edge Inc., and AgJunction, Inc. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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Consumer Network Attached Storage Market Executive Summary, Introduction, Sizing, Analysis And Forecast To 2026


New York, NY 3 Jan 2020: According to a new study published by Polaris Market, the global consumer network attached storage market is anticipated to reach USD 10.2 billion by 2026. The demand for consumer network attached storage globally is driven by increasing demand for cost-effective storage systems, efficient data backup systems, and speedy data transfer. Further, the market is also bolstering due to easy installation and low-cost of product, coupled with network sharing of data that improves the accessibility of users’ to data, among the office or in-house network. Furthermore, innovative offerings including cloud backup that is capable of integrating with consumer network attached storage system, is also driving the market growth for consumer network attached storage.

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The market by end-user is dominated by SMEs segment. The demand is highly attributed to the cost-effectiveness as well rising awareness for consumer network attached storage system. Also, by regions, Asia Pacific is expected to notice the highest growth. Further, region Middle East & Africa is also expected to notice considerable growth during the forecast period. Rising awareness among people and their increasing spending capability are the major factors driving the market growth in these regions. The North America region is expected to dominate the market, with US being the major contributor.

The market in US is driven by presence of several start-ups in the country also, US in one of the hub for start-ups and a major location of several large technology companies. By design, the market is segmented into 1-Bay, 2-Bays, 4-Bays, 5-Bays, 6-Bays, and 6-Bays & above. The 4-Bays segment is dominating the market by design however, 2-Bay segment is expected to grow at a highest CAGR during the projected period.

Some of the key players operating in the consumer network attached storage market are Western Digital Corporation, Netgear Inc., Synology Inc., ASUSTOR Inc., QNAP Systems, Inc., ZyXEL Communications Inc., Buffalo America Inc., Drobo Inc., D-Link Corporation, and Seagate Technology Public Limited Company among others.

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Kitchen Appliances Market Major Players, Volume, Development, Opportunities, Market Dynamic Forces & Forecast

New York, NY 3 Jan 2020: According to a new report published by Polaris Market Research the worldwide kitchen appliances market is anticipated to reach USD 340.9 billion by 2026. In 2017, the refrigerator segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

The changing lifestyles and hectic schedules of the working professionals lead to growing demand for kitchen appliances. Consumers prefer kitchen appliances, which are easy–to-operate and facilitate faster cooking. Rising disposable income is one of the factors responsible for the growth of the market. Increasing propensity of consumers to spend on appliances to lead convenient lives has also resulted in an increased demand for kitchen appliances.

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The well-known companies profiled in the report include Whirlpool Corporation, Robert Bosch GmbH, LG Electronics, AB Electrolux, Haier Group Corporation, Panasonic Corporation, Samsung Electronics, Koninklijke Philips N.V., Sharp Corporation. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

The other factors responsible for the growth of the market are convenience in fast cooking and healthy food consumption. Players in the market are launching cooking appliances which enable faster cooking while keeping the nutrients of food intact. Introduction of energy efficient cooking appliances equipped with multiple cooking functionalities are available in the market to cater to the consumers in the market. Moreover, the increasing trend of smart appliances would also encourage manufacturers to launch innovative kitchen appliances, which are compact and easy-to-use.
  
There has been a considerable increase in middle class and young working population across the globe. Rising female working population and busy schedules of people have led to an increasing demand of kitchen appliances. Increase in the number of social gatherings coupled with growing need for quick and efficient kitchen activities has boosted the market. Growing purchasing power of individuals has led to increased spending on consumer goods. Rising disposable income enables consumers to purchase multipurpose and easy-to-operate kitchen appliances to simplify and ease their kitchen activities. Consumers generally opt for stylish and technologically advanced kitchen appliances, which complement their living standards. Market players are introducing new products equipped with advanced features at affordable prices to cater to the growing consumer demands.

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North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high living standards along with high disposable income in the region encourage consumers to purchase kitchen appliances to simplify kitchen activities. The growing adoption of smart technologies and home automation systems is further expected to augment market growth in the region. Asia-Pacific is expected to grow at a significant rate during the forecast period owing to the increasing population and improving living standards.

The different types of kitchen appliances include cooking appliances, refrigerators, dishwaters, and others. In 2017, refrigerators accounted for the highest market share owing to increasing need to conserve edible items at a range of different temperatures. Consumers prefer to use energy efficient refrigerators owing to growing environmental concerns. Introduction of advanced refrigerators equipped with smart technologies is expected to drive the market in the future.

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The various end-users of kitchen appliances include residential and commercial users. In 2017, residential users accounted for the largest share in the global market, and are estimated to grow at a substantial rate during the forecast period. Residential consumers are increasingly spending on kitchen appliances to simplify kitchen chores and lead comfortable lives. Household consumers are opting for kitchen appliances, which are energy efficient and have minimal space requirements. In addition, improvement in living standards has encouraged consumers to buy technology-driven and luxury kitchen appliances. Integration of technologies such as Internet of Things and smart technologies into kitchen appliances is expected to provide growth opportunities in the coming years.


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Thursday, 2 January 2020

Eyewear Market Competitor Landscape, Opportunity Analysis, Growth, Trends & Forecast 2019-2026

New York, NY 2 Jan 2020: According to a new study published by Polaris Market Research the worldwide eyewear market is anticipated to reach over USD 235 billion by 2026. In 2017, the spectacles segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global eyewear market.
The increasing rate of diseases associated with vision, along with growing ageing population majorly drives the market growth. Consumers are increasingly becoming aware of eye health, which supports market growth. The growing popularity of fashion trends, and increasing disposable income encourage consumers to purchase designer and branded eyewear. Other factors driving market growth include spending longer durations in front of computers and laptops, increasing cases of myopia, hypermetropia, & astigmatism, and changing dietary habits. New emerging markets, emerging consumer demographics, and sale through online channels would provide growth opportunities for eyewear market in the coming years.
The increasing need for vision correction and growing diseases related to vision in the geriatric population drives the market growth. Consumers are increasingly spending more time in front of mobile devices for work or leisure, which leads to higher cases of vision problems. Changing dietary habits and hectic lifestyles also lead to increasing vision problems. Increasing life expectancy and associated diseases with old age such as presbyopia and cataract augment market growth. There is increasing awareness among consumers regarding eye care, which encourages them to take preventive measures, thereby boosting market growth.Sale of products through online channels has gained significant popularity over the years.
The trend of online shopping is gaining traction in developing economies, thereby encouraging established market players to distribute their products globally. Emerging and new players are also using online platforms for promotion and sale of products. Online distribution channels offer a global platform to market players for expansion of customer base, while reducing operation cost.
The growing disposable income has encouraged people to buy quality eyewear products that are in perfect amalgamation with their increasing living standards. Moreover, people are now opting for trendy and designer sunglasses according to latest trends prevailing in the market. Youth prefer to don contact lenses in an effort to accentuate their overall appearance. Thus, lofty living standards and increasing fashion consciousness, would contribute to the growth of the eyewear market, thereby positively affecting the market growth.
The growing popularity of fashion trends has increased the demand for branded and luxury eyewear products. Consumers are increasingly buying spectacle frames, lenses, and sunglasses with respect to changing fashion trends. The rising standards of living, increasing disposable income, and increase in fashion conscious population drives the market for luxury eyewear products. Earlier premium eyewear products were only available at selected stores at high prices. However, with technological advancements, and mass manufacturing processes, global players are offering these products globally at affordable prices.

Asia-pacific is expected to grow at the highest CAGR during the forecast period. This is due to economic growth in countries such as China and India, leading to rising living standards and high disposable income. Expansion of global players into these countries to tap market potential boosts the market growth. Increasing use of mobile devices and online shopping further augments market growth.
 The various types of eyewear include spectacles, lenses, and sunglasses. The spectacle segment is expected to lead the market during the forecast period owing to increasing defects and diseases associated with vision. Growing geriatric population and changing lifestyles support the market growth. Spectacle frames can be made using materials such as metal, plastic, and nylon. Consumers are increasing opting for lenses for vision defects as well as for cosmetic purposes.
 The well-known companies profiled in the report include Luxottica Group S.p.A, Bausch + Lomb Inc., Johnson & Johnson Vision Care, Prada S.p.A, Safilo Group S.p.A, Fielmann AG, Cooper Companies, Inc., Essilor International S.A., GrandVision, Carl Zeiss AG, Hoya Corporation, De Rigo SpA. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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Essential Oil Market Future Opportunities, Production/Demand Analysis & Outlook To 2026


New York, NY 2 Jan 2020:  According to a new report published by Polaris Market Research the essential oil market is anticipated to reach USD 16,172.2 million by 2026. In 2017, the orange essential oil segment dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period.

A significant increase in disposable income, changing lifestyles, and initiatives by market players to promote healthy lifestyles drive the growth of this market.  Other driving factors include increasing incidences of stress and anxiety, growing inclination towards use of natural and organic products, and increasing awareness regarding physical and mental health. The use of essential oils in various applications such as food and beverages, healthcare, pharmaceutical, cosmetics, and aromatherapy further propel the market growth. Increasing demand in developing nations is expected provide numerous growth opportunities to the market players during the forecast period.


There has been a shift towards e-commerce and consumers are increasingly purchasing essential oils through online platforms. The variety of choices available coupled with ease of purchase offered by online platforms encourages consumers to buy essential oils online, supplementing the growth of the market.

Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific fuels the demand for essential oils market. Factors such as increase in per capita income and changes in consumer behavior towards physical and mental health are expected to accelerate the adoption of essential oils in the coming years.

Europe generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high geriatric population in the region coupled with high disposable income drives the market growth. The high demand of essential oils in food & beverages and cosmetic products support the market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing disposable incomes in developing countries of this region, rising awareness about benefits of essential oils, and rising demand of essential oils from healthcare sector in this region.


The different types of essential oils in the market include lemon, lime, orange, corn mint, eucalyptus, peppermint, citronella, clove leaf, and others. In 2017, the orange essential oil segment accounted for the highest market share. The increasing demand for orange essential oil is owing to properties such as anti-inflammatory, antidepressant, and antispasmodic. Use of orange essential oil has a calming effect on mind and body, and is used in various cosmetics products. It is also used in various foods and beverages to enhance flavor.

The well-known companies profiled in the report include Dōterra International LLC., Rocky Mountain Oils, LLC, Naturals Together, Robertet SA, Now Health Group, Inc., Biolandes SAS, Falcon Essential Oils, Ungerer Limited, The Lebermuth Company, Flavex Naturextrakte GmbH, Farotti Srl, and E. I. Du Pont De Nemours and Company among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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Oleochemicals Market Review, Revenue & Market Demand Analysis 2026

New York, NY 2 Jan 2020: The global oleochemicals market is expected to reach more than USD 38.61 billion by 2026 with a CAGR of 5.9% during the forecast period as per a new study released by Polaris Market Research. The report “Oleochemicals Market [By Product Type (Fatty Alcohol, Glycerin, Fatty Acid and Others); By Application (Food & Beverage, Personal Care, Detergents & Soaps, Polymers and Others); By Regions]: Market size & Forecast, 2017 – 2026”. provides an extensive analysis of present market dynamics and predicted future trends
The growth in the demand for natural derived products of food and beverage, pharmaceutical industries, chemicals are the main drivers to drive oleochemicals market.
Oleochemicals can be defined as various types of chemical products which are derivatives from vegetable triglycerides or animals, they include elements that are of petrochemical product origin. The basic oleochemicals are fatty acids, fatty alcohols, glycerin and methyl esters. Many companies are investing in research and development to innovate new formulations.
Many countries are taking active part in developing new formulations that can help to cater to specific requirement from the end user industries. The companies are shifting their focus on the usage of bio-diesel. Due to the stringent rules and regulations in chemical industry, there has been rise in oil prices, this will further decrease the demand for the chemicals. There is also significant shift in the usage towards shale gas. Even though there are many challenges in the market, there is always an advantage of oleochemicals over petrochemicals. Therefore, there will be increase in demand for oleochemicals in the near future.
The consumer has shifted their focus on having healthy and nutritional food which are derived from natural origin. These is one of the main factors to increase the demand for oleochemicals market. The industry is volatile in making profit through depleting fossil fuels and this will be led for more opportunities in the usage of bio diesel. Hence, with all these advantages demand for these products are estimated to increase in the next few years.
Asia-Pacific is one of the largest markets for oleochemicals. Increase in the production for palm kernel and palm oil is the driving factor to increase the demand for oleochemical in Asia-Pacific region. There is a rapid increase in the production of palm along with developing integration of raw materials. This has become the main reason for the reorganization in global oleochemical market. The key players in the industry are planning for many production facilities in Europe and U.S. 
The key market players in the oleochemicals market are, Ecogreen Oleochemicals, SABIC, Evyap, China Sanjiang Fine Chemicals, Godrej Industries, Archer Daniels Midland, Emery Oleochemicals, Vantage Specialty Chemicals, Evonik Industries, BASF, Wilmar International, Kao Chemicals, Alnor Oil Co, Isosciences LLC, Vegetable Vitamin Foods Company, Kuala Lumpur KepongBerhad, Eastman Chemical Company, AkzoNobel, PTT Global Chemical Public Company Limited.
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We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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Liquid Nitrogen Market 2020-2026 : Growth Drivers, Restraints, Revenue & Market Demand Analysis 2026

New York, NY 2 Jan 2020: The global liquid nitrogen market is anticipated to reach USD 22.72 billion by 2026 according to a new study published by Polaris Market Research.
Liquid nitrogen is used in several industries owing to its inertness and extremely low temperature levels. It is a vital component during completion of gas wells o fracture natural gas bearing rock formations such as tight gas reserves. Maintenance of pressure in oil & gas reservoirs is yet another of its applications in the energy sector. Removal of flash on cast plastics and rubber is done using liquid nitrogen. Rapid freezing of food & beverage items resulting in minimum cell damage. Used as a shield liquid or gas in packaging of some particular medicines to keep it safe from adsorption of moisture or oxidation.
Liquid nitrogen’s other assorted applications include its use as coolant for environment testing of several items. It is also used for combating fire in coal mines thus enhancing ire safety eliminating the risk of losing huge quantity of natural resources and stopping the release of toxic gases and fumes that might damage the environment. It is applicable for extensive cooling in several industrial processes and for the food industry where cold storage of crucial importance. Liquid nitrogen also helps in cooling several types of mechanical equipment which are required to be kept extremely cold environment and also for snap-freezing food products such as hamburger patties, chicken and fruits preserved for out of season.
Liquid removed from the compression of nitrogen remains in temperature nearby -320°F. Owing to this, the product has numerous applications in a wide range of industries including pharmaceuticals, chemicals, ceramic and glass, petroleum processing, steelmaking along with other metal refining, paper & pulp manufacturing, and healthcare. Owing to its inertness and coldness application segments of the product has been increasing in several end-use industries. As liquid nitrogen is warmed and vaporized to ambient temperatures, it absorbs heat quantities that allow the temperature level to come down quickly and instantly. The combination of the product’s coldness and inertness makes it the potential coolant for food freezing. Soft and heat sensitive materials are also treated using liquid nitrogen at room temperature which allows them to be fractured and machined. Some of these examples include plastics, tires, pharmaceuticals and even metals.
Asia Pacific region is projected to augment for substantial demand by 2025. The region is anticipated to experience significant growth over the forecast period, owing to the heavy investments made by the governments of emerging nations to strengthen their base of skilled workforce. This is one of the reasons that manufacturing and processing companies for the west have started setting their base in the region for skilled but low wage labors. The recent government initiatives taken by Indian, Thailand, and Chinese government to promote the manufacturing sector are acting in favor of the market.
Some of leading industry participants operating currently includes Nexair LLC, Taiyo Nippon Sanso Corporation, Emirates Industrial Gases Co. LLC, Messer Group, Southern Industrial Gas Berhad, Gulf Cryo, Air Products and Chemicals, Inc., Air Liquide S.A., Praxair Inc., and the linde group.
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We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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Vertical Farming Market : To Witness Astonishing Growth By Key Players oninklijke Philips N.V., Illumitex

New York, NY 2 Jan 2020 : According to a new study published by Polaris Market Research the worldwide Vertical Farming market is anticipated to reach over USD 11,905 million by 2026. In 2017, the shipping container dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
The growing population worldwide has resulted in significant increase in food demand. Vertical farming is increasingly being used to meet the high-demand for food crops. The factors driving the growth of vertical farming market include ability to produce high quality crops throughout the year, lesser use of water for crop cultivation, and lower dependency on weather conditions.  Organic and chemical free crops can be grown with the help of vertical farming in artificially controlled environments, which further increases its adoption. Other factors driving the market include growing urban population, and reduced environmental pollution. However, high initial investment and crop production of limited varieties restrict the growth of vertical farming market.  
Asia-Pacific generated the highest revenue of $835 million in 2017, and is expected to lead the global market throughout the forecast period. This is owing to significant growth of population in the region. Lack of fertile land, Strong technical expertise in agricultural practices, and established R&D institutes in China and Japan further supplement the market growth.
The growing mechanisms used for vertical farming include hydroponics, aquaponics, and aeroponics. In 2017, hydroponics accounted for the largest share in the global market, and was estimated at USD 1,086 million in 2017, registering a CAGR of 23.3% during the forecast period. Hydroponics is a process of growing plants where the traditional soil medium is replaced by nutrient and mineral rich water solution. Hydroponics offer benefits such as availability of crops throughout the year, faster plant growth, and eliminate the growth of pesticides.
On the basis of offerings, the market is segmented into lighting solutions, sensors, climate control, and hydroponic components. In 2017, the lighting solutions accounted for the major share in the global market. Lighting solutions are used to provide uniform lighting conditions suitable for plant growth. The leading market players offering lighting solutions for vertical farming include Koninklijke Philips N.V., Illumitex, Inc., and Everlight Electronics Co. Ltd.
 The well-known companies profiled in the report include BrightFarms, Agrilution, Everlight Electronics Co., Ltd., American Hydroponics, Freight Farms, Illumitex, Inc., and Vertical Farm Systems among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Electric Vehicle Charging Infrastructure/ Stations Market Business Strategies, Product Sales and Growth Rate 2026

New York, NY 2 Jan 2020 : The Global electric vehicle charging infrastructure market is anticipated to reach USD 56.9 billion by 2026, according to a new study published by Polaris Market Research. The report ‘Electric Vehicle Charging Infrastructure/ Stations Market [By Connector Protocol (CHAdeMO, Combined Charging System); By Charger Type (Slow Charger, Fast Charger); By Charging Method (AC Charging, DC Charging); By Application (Commercial, Home); By Regions]: Market Size & Forecast, 2018 – 2026’ provides insights on the current market scenario and the future prospects.
Owing to the increasing adoption of the electric vehicles globally due to their reduced costs, increasing fuel prices, and increasing government initiatives such as subsidies and tax benefits along with strict environmental norms, the electric vehicle charging infrastructure market is projected to gain traction over the forecast period. In 2017, Asia Pacific region dominated the market by accounting the majority share in this market. ..
There has been a significant increase in the adoption of electric vehicles (EVs) especially in the cars segment. Major companies are working towards developing and launching new EV models with advance research and development due to the growing demand. This scenario has credited the growth of the EV charging infrastructure market. Earlier the charging for these cars was done only at the residences, however, owing to the increasing number of EVs in the market, major companies along with the government organizations are coming up with the charging infrastructure for the public utility. These infrastructures are being commonly developed within the city limits, thus benefiting the customers to charge their cars at high speed with reduced time and cost.
The penetration of EVs is high in regions such as Asia Pacific, North America and Europe, thus making them prime revenue generators collectively of the EV charging infrastructure market. Asia-Pacific is a lucrative market with high development potential attributable to the fast expanding quantities of electric vehicles in countries such as India, Japan and China. In the Asia-Pacific region, Japan has the fastest adoption of EV charging stations. India on the other hand is following the suite and have recently installed their first charging station which was jointly developed by the government and an online cab service provider.   
Development of advanced DC chargers which can charge the EVs in less than 30 minutes are further helping the market to grow. Connectors such as CHAdeMO and Combined Charging System (CSS) along with superchargers developed by Tesla Motors, Inc are further fueling the growth of this market. In addition, the advancements in the charger type for creating fast charging arrangements are projected to drive the market development.
Major companies profiled in the report include ChargePoint, Inc., Schneider Electric SE., Tesla Motors, Inc., Delphi Automotive LLP, SemaConnect, Inc., SemaConnect, Inc., Leviton Manufacturing Co, Inc., General Electric, ABB Limited and AeroVironment, Inc. among others. These companies introduced new technologies and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of the consumers.
Key Findings from the study suggest Asia Pacific region is expected to command the market over the forecast years. Major automobile manufacturers are seen to be vigorously investing in advancing EV charging framework. For example, Bavarian Motor Works (BMW), Volkswagen, Ford Motors, and Daimler declared a venture for the advancement of over 350 charging stations throughout the European region. North America is presumed to be the fastest growing market, developing at a rate of more than 45% over the forecast period. The electric vehicle charging infrastructure market is presumed to develop at a CAGR of over 40.8% from 2018 to 2026. The fast chargers segment is presumed to display the speediest development.
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