Singapore Electric Vehicle Charging Infrastructure Market Outlook (2020-2025) | Size, Share, Trends, Growth, Outlook & COVID-19 IMPACT

Singapore electric vehicle charging infrastructure market report comprehensively covers the market by charger types and end consumers. Singapore electric vehicle charging infrastructure market report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest 2023 Development of the Singapore Electric Vehicle Charging Infrastructure Market

Singapore Electric Vehicle Charging Infrastructure Market has been growing steadily along with several new developments and projects. For instance, the Singapore government has announced plans to deploy a nationwide EV charging grid called the National Grid. Also, the government has been encouraging public-private partnerships to accelerate the deployment of EV charging infrastructure. Moreover, the Housing Development Board (HDB) announced plans to install EV charging points in all new public car parks in Housing and Development Board estates.

Furthermore, the country has been promoting the electrification of public transport. The government has also been testing electric taxis and is exploring the use of electric ferries. The promotion of green financing is also contributing to the development of the electric vehicle charging infrastructure industry. Overall, the EV charging infrastructure market is expected to continue growing as the government and private sector investment in the development of a comprehensive charging network to support the wide adoption of electric vehicles. There is a growing awareness among consumers about the benefits of EVs, including their environmental friendliness, and reduced dependence on fossil fuels. Consequently, this leads to an increase in demand for EVs and the growth of the charging infrastructure market.

Singapore Electric Vehicle Charging Infrastructure Market Synopsis

Though a majority of the current charging infrastructure in Singapore supplies AC current, widespread demand for reduced charging times and gaining preference of network operators for deployment of DC chargers would lead to an increase in the share of DC chargers in the coming years. However, the market witnessed a decline during the outbreak of the Covid-19 pandemic and is expected to recover over the coming years.

According to 6Wresearch, Singapore electric vehicle charging infrastructure market size grew at a CAGR of 74.0% during 2020-2025. The government has announced various schemes such as Vehicular Emission Scheme (VES). Early adoption incentive scheme offering a 45 per cent rebate on a car’s Additional Registration fee to EV buyers from 2021 to 2023, less punitive road tax on electric vehicles along with the significant expansion of EV charging infrastructure to promote the adoption of electric vehicle in the country.

Market Analysis By Charger Types

The Singapore government has an ambitious plan to expand the electric vehicle charging infrastructure from 1700 charging points currently to 28000 charging points by 2030. As of June end of 2020, there are 212 public DC fast Charging points and 629 public AC charging points in Singapore where the demand for DC chargers would be increasing in the coming years due to fast charging and less time consumption. Blue SG, Greenlots, and SP group in consideration with LTA have played a significant role in the development of EV charging infrastructure in Singapore.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 6 Years Market Numbers.
• Estimated Data Starting from 2020 to 2025F.
• Base Year: 2019
• Forecast Data until 2025F.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Singapore electric vehicle charging infrastructure Market Overview
• Singapore electric vehicle charging infrastructure Market Outlook
• Singapore electric vehicle charging infrastructure Market Forecast
• Historical Data and Forecast Singapore electric vehicle charging infrastructure Market Revenues and Volume for the Period 2019-2025F
• Historical Data and Forecast of Singapore electric vehicle charging infrastructure Market Revenues and Volume, By Charger Types, for the Period 2019-2025F
• Historical Data and Forecast of Singapore electric vehicle charging infrastructure Market Revenues and Volume, By End Consumers, for the Period 2019-2025F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Impact Analysis of COVID-19
• Market Trends
• Singapore Vehicle Market Revenue Ranking, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Charger Types

• AC
• DC

By End Consumers

• Public
• Private

Singapore Electric Vehicle Charging Infrastructure Market: FAQs