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Research and Markets: The Global Electric Vehicle (EV) Charging Station Market to Grow At A CAGR Of 76.9 Percent Over the Period 2011-2015

DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/27gkkv/global_electric_ve) has announced the addition of the “Global Electric Vehicle Charging Station Market 2011-2015” report to their offering.

“Global Electric Vehicle Charging Station Market 2011-2015”
One of the key factors contributing to this market growth is the increasing need for energy independence. The Global EV Charging Station market has also been witnessing increasing demand for energy. However, limited performance of EVs could pose a challenge to the growth of this market.

Key vendors dominating this market space include AeroVironment Inc., ECOtality Inc., Better Place LLC, Coulomb Technologies Inc., and Leviton Manufacturing Co. Inc.

Commenting on the report, an analyst from TechNavio’s Clean Tech team said; Level 1 stations (residential stations) are in high demand in the US and they will represent half of the total Electric Vehicle (EV) charging stations shipped by 2015. Hence, the market in the US will witness the emergence of many small players providing residential stations in the future. Similarly, with the majority of Chinese people living in apartments, public stations will be in huge demand, which can be clearly anticipated by governments when promoting the installation of public stations. Hence, level 2 public station manufacturers will definitely witness a huge demand for their products. This increased demand for level 1 and level 2 stations will induce the growth of the Global EV Charging Station market.

According to the report, the shortage of oil reserves is one of the major factors inducing the growth of the Global EV Charging Station market. The main reason for the oil shortage is the rapid oil demand from developing countries and a simultaneous decline in the oil supply. As a result, various governments are funding and subsidizing EV and equipment manufacturers to increase the adoption of EVs.

Further, the report also discusses that the lack of a proper battery range of EVs is one of the significant barriers for the growth of the Global EV Charging Station market.

For more information visit http://www.researchandmarkets.com/research/27gkkv/global_electric_ve

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Research and Markets
Laura Wood, Senior Manager.
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Sector: Environmental
Source businesswire.com

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