The Hong Kong electric vehicle charging stations market is projected to witness a CAGR of 25.85% to reach a market size of US$118.002 million by 2028.

NOIDA, UTTAR PRADESH, INDIA, July 26, 2023/EINPresswire.com/ -- According to a new report on the Hong Kong Electric Vehicle Charging Stations Market forecasted till 2028, published by Knowledge Sourcing Intelligence, the Hong Kong electric vehicle charging stations market is projected to grow at a CAGR of 25.85% between 2023 and 2028 to reach US$118.002 million by 2028.

The widespread acceptance and integration of electric vehicles, coupled with the proactive measures and initiatives implemented by the local government has resulted in a remarkable expansion of the electric vehicle charging stations in Hong Kong.

An electric vehicle charging station establishes a connection between an electric vehicle (EV) and a reliable source of electricity, enabling efficient vehicle recharging. Charging stations frequently integrate features such as smart metering, cellular capability, and network connectivity, providing an array of enhanced functionalities.

Various product launches and initiatives in the market are stimulating the market growth for instance, in June 2023, Shell Hong Kong Limited ("Shell") unveiled its latest initiative in support of Hong Kong's energy transition with the launch of the Shell Recharge EV charging station at Stanley Plaza. This charging facility aims to enhance the public's EV charging experience by providing a seamless and convenient solution. Boasting a total of 34 charging points, the station offers a diverse range of options, including 28 medium chargers (7kW) and 6 fast chargers (60-120kW).

Access sample report or view details:
https://www.knowledge-sourcing.com/report/hong-kong-electric-vehicle-charging-stations-market

Also, initiatives taken by the government are bolstering the Hong Kong electric vehicle charging stations market. For instance, in April 2023, Hong Kong authorities established an ambitious goal to augment the quantity of electric vehicle (EV) charging stations within government buildings up to 7,000 by the year 2025. This initiative showcases their commitment to expanding the EV charging infrastructure and promoting sustainable transportation options throughout the region.

More partnerships in the market are further propelling the overall growth. For instance, in July 2021, Schneider Electric formed a collaboration with Sino Group to expand the latter’s electric vehicle (EV) charging network in Hong Kong. Through this partnership, the companies wiil install more than 420 EV chargers at Sino Group's Grand Central and YM properties, thereby establishing the largest charging facility in East Kowloon, which would further enhance the accessibility of EV charging infrastructure in the region.

The Hong Kong electric vehicle charging stations market is classified into two main segments based on vehicle type which includes battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). These segments distinguish the types of electric vehicles that can utilize the charging infrastructure available.

The Hong Kong electric vehicle charging stations market based on application is segmented into commercial, government, & industrial, and residential. These segments reflect the diverse usage scenarios and specific needs of electric vehicle charging infrastructure in both non-residential and residential settings within Hong Kong.

Based on charging type, the Hong Kong electric vehicle charging stations are classified into two distinct segments, AC charging and DC charging. The AC charging is further classified into level 1 and level 2 charging.

The market research study includes coverage of HONG KONG EV POWER, TESLA, AUTO GREEN SOLUTIONS LIMITED, SCHNEIDER ELECTRIC, DELTA ELECTRONICS, INC., SMART CHARGE, ONECHARGE, SIEMENS, SHELL RECHARGE (SHELL), CLP POWER HONG KONG LIMITED, and HK ELECTRIC INVESTMENTS LIMITED among other significant market players in the Hong Kong electric vehicle charging stations market.

This study segments the Hong Kong electric vehicle charging stations market on the following basis:

• By Vehicle Type
o Battery Electric Vehicles (BEVS)
o Plug-In Hybrid Electric Vehicles (PHEVS)

• By Application
o Commercial, Government, and Residential
o Residential

• By Charging Type
o AC Charging (Level 1 and Level 2)
o DC Charging

Explore Related Reports:

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• Wireless Charging Module Market: https://www.knowledge-sourcing.com/report/wireless-charging-module-market

• Electric Vehicle Power Inverter Market: https://www.knowledge-sourcing.com/report/electric-vehicle-power-inverter-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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