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The South Africa Electric Vehicle Charging Infrastructure Market is experiencing positive growth over the last few years. The growth of the market is attributed to increasing government initiatives such as the Green Transport Strategy of the national Department of Transport to promotes the introduction of electric and hybrid-electric vehicles, the launch of electric vehicle charging stations by the market players, and burgeoning investment in infrastructure development. Moreover, escalating partnership agreement among charging station infrastructure and EV management systems firm along with rising government inclination towards non-fossil fuel transportation and introduction of various funding scheme by the government in order to drive EV charging infrastructure are the factors anticipated to place a positive impact on the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report “South Africa Electric Vehicle Charging Infrastructure Market Analysis, 2020”, the South Africa Electric Vehicle Charging Infrastructure market is anticipated to grow at a considerable CAGR during 2021-26F. The South African Automotive Masterplan 2035 to increase localisation rate of 60% along with burgeoning investments on specific EV charging infrastructure technology project is expected to accentuate the growth of the market in the coming years. However, the COVID-19 outbreak has dramatically affect the supply chain and the market for goods in the automotive sector and also put a halt on the ongoing projects of EV charging infrastructure. The demand for electric vehicle has also plummeted due to shut down manufacturing. The market is estimated to witness substantial growth once the economy revives.
“South Africa Electric Vehicle Charging Infrastructure Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Electric Vehicle Charging Infrastructure providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Lithium-ion Battery Acquired the Significant Market Share
Based on Battery, Lithium-ion Battery acquired the significant market share in the South Africa Electric Vehicle charging infrastructure market in 2020. The introduction of programs such as South Africa’s uYilo Electric Mobility Program in order to boost the adoption rate of electric vehicle, increasing technological advancements in battery technology coupled with positive growth in automotive sector are anticipated to fuel the demand for lithium-ion battery in the near future. Therefore, this is projected to strongly contributing towards the market growth of the Electric Vehicle Charging Infrastructure in the forthcoming period as revealed by the MarkNtel Advisors’ research report “South Africa Electric Vehicle Charging Infrastructure Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the South Africa include ABB, Schneider Electric, Eaton Corporation, Siemens AG, Leviton Manufacturing Co., Inc., Others etc.
Market Segmentation:
Key questions answered in the study