The Global Electric Vehicle Charging Station Market was valued at USD 12.8 Billion in 2023 and is estimated to reach USD 172.1 Billion by 2033, growing at a CAGR of 32.52 % from 2023 to 2033.
Scope of the market:
Charging stations are also known as charging points or charge points or electric vehicles supply equipment (EVSE) a power supply device that supplies electric power for recharging plug-in electric vehicles, which includes electric trucks, buses, and plug-in hybrid vehicles. Private companies and, the government are investing to expand and establish charging infrastructure for the adoption of electric vehicles. According to Statzon, China already installed more than 1.7 million EV charging points. Moreover, the number of EV charging stations reached 9.8 billion in China. A charging pool consists of multiple recharging stations with one charge point operator (CPO).
According tothe European Commission:
- Japanese utility TEPCO developed CHAdeMO, a Japanese DC recharging standard, and virtually all Japanese DC fast recharging stationsofferCHAdeMO connectors.
- Tesla has developed a proprietary standard for its inlets and connectors. The Teslaconnector is a unified connector for AC and DC recharging, as it supports all voltage levels
The rising demand for electric vehicles is the prime factor for the growth of EV charging stations market.
Economic Impact of Covid-19:
Electric vehicle development was critical to achieve the set sustainable goal during COVID-19 pandemic. This reduced the electric vehicles sales, material supply, disrupted operation and production which tends to expel small brands out of the competitive market.
The analysis of the COVID-19 recovery trajectory provides an overview of the main strategies that industries are implementing to respond to and recover from the economic crisis. It also focuses on the post-pandemic and pre-pandemic era of the Global Electric Vehicle Charging StationMarket through PEST analysis, SWOT, Quantitative and Qualitative analysis, Attractive analysis, and DROs.
Key Players:
- ABB Ltd
- Allego
- Evatran Group
- Siemens AG
- Mojo Mobility Inc
- ChargePoint Inc
- Toshiba Corporation
- Blink Charging Co.
- Scheinder Electric
- EVgo Services LLC
- Leviton Manufacturing Co Inc
- Alfen N.V.
- Tesla Inc
- Engie
- ClipperCreek
- Qualcomm Technologies Inc
- Infineon Technologies AG
- Eaton
- Others
The above key players in the Global Electric Vehicle Charging Station Market can be changed according to the client’s requirements.
Moreover, the key players aim towards expansion, joint ventures, collaboration, mergers, and acquisitions to advance capabilities in the Electric Vehicle Charging Station Market.
Recent Developments in GlobalElectric Vehicle Charging Station Market:
July 27th, 2023: New EU law requires fast charging stations at every 60 kilometers by the end of 2025.
EU has passed a new law requiring fast-charging stations to be installed every 60 kilometers along highways by the end of 2025. The law also requires charging stations to be interoperable, which can be used without the manufacturers. EU has set a goal of having 1 million public charging points by 2025 and 3 million by 2030. As EU is the world’s largest market for electric vehicles and the new law is expected to boost the sales of EVs in this region.
A new law on alternative fuel infrastructure is meant to greatly reduce the carbon footprint of transportation in Europe and contribute to the “Fit for 55” goal to reduce emissionsin the EU by 55% or more by 2030. As the Verge reported, transportation makes up about 25% of all greenhouse gas emissions in the EU.
In 2024: Adani, Total Energies to set up EV charging stations at new MG dealership.
A unit of a joint venture between Adani Group and French energy giant TotalEnergies will set up EV charging stations at new MG dealerships to bolster the charging network. Adani TotalEnergies E-Mobility Limited (ATEL), a wholly-owned subsidiaryof Toral Adani Gas Limited (ATGL), and MG Motors India signed a memorandum of understanding to strengthen the EV charging infrastructure in India.
Jan 2024: White House unveils USD 623 million funding to boost electric vehicle charging points.
Unveils USD 623 million in funding to boost the number of electric vehicles charging points in the US, amid concerns that the transition to zero-carbon transportation isn’t keeping pace with goals to tackle the climate crises. There are about 170,000 electric vehicle chargers in the US and the white house has set a goal for 500,000 chargers to help support the shift away from gasoline and diesel cars.
Global Electric Vehicle Charging Station Market Key Benefits:
- The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
- Quantitative and Qualitative analysis of the current market.
- Estimations for the forecast period 2033.
- Historical data and forecast data.
- Recent developments and trends in the market.
- Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
- Covid-19 Impact analysis
Global Electric Vehicle Charging Station Market Segmentation:
By Charging Station Type:
- AC Charging
- DC Charging
- Wireless Charging
By Level of Charging:
- Level 1
- Level 2
- Level 3
By Power Output:
- <11KW
- 11KW-50KW
- >50KW
By Vehicle Type:
- Passenger Car
- Battery Electric Vehicle (BEV)
- Heavy Commercial Vehicles
- Light Co0mmercial Vehicles
- Two-wheelers and Scooters
- Plug-in Hybrid Vehicles (PHEV)
By Connector Type:
- Normal Charging
- Type 2
- Tesla SC
- GB/T
- CCS
By Application:
- Public
- Private
By Mounting Type:
- Ceiling Mount
- Wall Mount
- Pedestal Mount
By End-User:
- Residential EV Charging Stations
- Commercial EV Charging Stations
- Commercial Public EV Charging Stations
- Parking Spaces
- Destination Chargers
- On-Road Charging
- Commercial Private EV Charging Stations
- Fleet Charging
- Captive Charging
By Region:
Asia-Pacific
- Japan
- China
- India
- Australia
- New Zealand
- Rest of Asia-Pacific
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
Rest of the World
Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.
Research Scope:
|
Report Scope |
Details |
|
Base Year |
2023 |
|
Forecast Years |
2023 to 2033 |
|
Historical Years |
2019 to 2023 |
|
Market Size 2023 |
12.8 BN |
|
Market Revenue 2033 |
172.1BN |
|
Growth Rate 2023- 2033 |
32.52% |
|
Report Coverage |
Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis. |
|
Segments Covered |
Charging Station Type, Level of Charging, Power Output, Vehicle Type, Connecter Type, Application, Mounting Type, End-User, End User, Region |
|
Companies Mentioned |
ABB Ltd, Allego, Evatran Group, Siemens AG, Mojo Mobility Inc, ChargePoint Inc, Toshiba Corporation, Blink Charging Co., Scheinder Electric, EVgo Services LLC, Leviton Manufacturing Co Inc, Alfen N.V., Tesla Inc, Engie, ClipperCreek, Qualcomm Technologies Inc, Infineon Technologies AG, Eaton
|
|
Customization |
Yes |
Regional Analysis:
Asia Pacific dominated the electric vehicle charging station share in 2022 and is also estimated to remain dominant with the fasted CAGR in the upcoming years.
As per the Vahan portal of the Road Transport Ministry, there are 28.17 lakhs EVs in India and just 15,493 electric vehicle charging stations are operational. India needs around 1.32 million EV charging stations by 2030 according to the Confederation of Indian Industry. More than 4,00,000 charging stations should be installed every year till 2030. By 2030, at least 18000 public electric car charging stations are needed to cater to the needs of the 4+ million population in the top 9 cities of India. The top key players in charging infrastructure manufacturers are Okaya, ABB India, Mass Tech, and RRT. For instance, a KPMG report has projected that India will need 2.9 million public charging stations by 2030 as the total number of electric vehicles plying on Indian roads will be around 102 million.
Electric vehicle sales are growing in the United States with more than 1 million EVs sold for the first time in 2023, accounting for 9% of all vehicle sales. For instance, the Environmental Protection Agency announced nearly USD 1 billion in grants to replace diesel-powered school buses with electric and lower-emitting vehicles. According to the International Council on Clean Transportation, there are millions of electric vehicles on U.S. roads main focus is to public charging accessibility and reliability, including plug compatibility, and mechanics of payment. For instance, Ford made a major announcement that from 2025, it will manufacturer its EVs using the North American Charging Standard (NACS) inlet derived from Tesla’s charging standard. Most major automakers and all major charging infrastructure networks, including Electrifying America, Blink, EVgo and ChargePoint made similar commitments to adopt the NACS inlet and connectors in their North American vehicles and chargers respectively.
McKinsey analysis shows that annual sales of electrified passengers vehicles exceeded 10 million in 2022, and are projected that they will reach roughly 40 million in 2030. For instance, In the United States there were about 2.6 million ports available in 2022, and the country will need to increase it by approximately 9.5 million ports by 2025 and 28.0 million by 2028.
Key questions answered by this report.
- Top market players contributing to the revenue?
- Trending strategies by the players?
- Which region will be the leading one in the forecast period?
- Factors that drive the Global Electric Vehicle Charging Station Market?
- Which factors will affect the Global Electric Vehicle Charging StationMarket?
- How Covid-19 pandemic impact the growth of the Global Electric Vehicle Charging Station Market?
- Which Segment accounted for the Global Electric Vehicle Charging Station Market shares?
Frequently Asked Questions (FAQ) :
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