ICT RESEARCH REPORTS Airport-Charging-Stations-Market | Page 2

government initiative for modernizing the existing airport, which in turn is expected to lead to
growth of the airport charging stations market during the forecast period.
Increasing international air passenger traffic has forced government agencies around the world
to make substantial investments in expanding the transportation networks so as to meet the
high volume of visitors, which in turn requires construction of new airports. For instance,
according to the CAPA (Centre for Aviation) in 2015, the U.S. government invested US$100 billion
for the construction of 400 new airports in the U.S. Therefore, increasing financial support by
government agencies, in turn is expected to help in propelling growth of the airport charging
stations market.
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High initial cost is one of the key challenges hampering growth of the market
High initial cost of charging stations is one of the factors negatively impacting growth of the
market over the forecast period. Since, cost required for installations of these charging stations is
very high, which proportionally increases cost of investment.
Based on application, the mobile phones segment is projected to be the leading
segment in the airport charging stations market during the forecasted period
Increasing demand for mobile phones globally, is expected to support growth of the airport
charging stations market. According to the International Telecommunication Union, it was
estimated that 4.30 billion people used mobile phones globally, which represented 58.7% of the
global population. Rising disposable income, increasing spending on media, entertainment and
networking, and mobile applications are factors expected to lead to increasing demand for
mobile phones. Owing to increasing usage of mobile phones, demand for charging stations is
expected to increase. Therefore, increasing demand for mobile phones will help in fuelling growth
of the market.
Global Airport Charging Station Market: Regional Insights
On basis of geography, the global airport charging stations market is segmented into North
America, Europe, Asia Pacifica, Latin America, Middle East, and Africa. The market for Asia Pacific
is expected to exhibit the highest CAGR during the forecast period. Increasing air passenger’s
traffic is one of the major factors leading to growth of the airport charging station market in this
particular region. For instance, according to the International Airport Transportation
Administration (IATA) analysis, in 2016, the number of air passenger traffic increased in Asia
Pacific region as compare to that in 2015.