Electric Vehicle (EV) Charging Infrastructure Market: Global Industry Analysis and Forecast (2021-2027)

Electric Vehicle (EV) Charging Infrastructure Market volume was 2,115 Thousand Units in 2020 and the total revenue is expected to grow at 46.6 % through 2021 to 2027, Electric Vehicle Charging Infrastructure Market is reaching nearly 30,758 Thousand Units. By 2027.

Electric Vehicle Charging Infrastructure Market Overview:

Electric vehicles have the potential to transform the global transportation sector, reducing carbon emissions dramatically and paving the way for considerable climate gains. A wall-mounted charger is used by many EV owners to charge their vehicles at home. Most people can benefit from this arrangement because the usual EV usage falls well within the range of today's electric automobiles. Electric Vehicle Charging Infrastructure Market To know about the Research Methodology:- Request Free Sample Report However, there are two major concerns. For example, parking garages rarely have charging infrastructure for residence vehicles, and building management may find it too expensive to add such technology. Second, additional charging infrastructure is required for EVs to make long-distance trips that require multiple stops for charging. When taking longer trips, EV drivers may experience "range anxiety," or the fear of running out of juice before reaching an appropriate (and functional) charging station. As a result, the development of a robust public "fueling" network of charging stations is critical to a successful EV industry. The most convenient site for EV charging is still at home, followed by the workplace. As a result, the public charging station industry is run by DC fast charging for on-the-go, cross-country (long-range) driving, and emergency situations.

Electric Vehicle Charging Infrastructure Market Dynamics:

The number of electric vehicle charging sites is increasing – Electric vehicle technology and infrastructure are being pushed forward by the fast-developing electric vehicle market. Electric vehicles have a number of advantages, including decreased fuel use and pollution from vehicle engines, which are driving up global demand for them. As a result, demand for electric car charging infrastructure is likely to rise, driving the market growth. As part of government initiative programmers, charging stations are being rapidly constructed, and electric vehicle manufacturers are collaborating on the creation of charging stations in parking lots. Electric car manufacturers are focused on the development of charging stations for electric vehicles that are similar to gasoline pumps in order to enhance electric vehicle sales. As a result of the increase in the number of electric vehicle charging stations, the market for electric vehicle charging infrastructure is growing. Charging stations must be able to support future growth – Charging infrastructure must be established to support and sustain the increasing uptake of electric vehicles. In MMR research, moreover over half of respondents from around the world said that poor charging infrastructure and long charging times are the primary issues. The low density of charging facilities, particularly public charging stations, demonstrates this. In addition to a lack of suitable charging infrastructure, a major problem is the lack of fast-charging stations. For example, The Netherlands has only 3,000 fast chargers while having an extensive public charging network of 82,000 stations. Electric Vehicle Charging Infrastructure Market 1 Public charging stations must be developed by governments – Governments around the world are expected to heavily subsidize (partially or totally) the building of EV charging infrastructure. The majority of governments have set lofty goals for the number of chargers they hope to deploy by 2030. France, Germany, and other countries, for example, have proposed special budget allocations for charging infrastructure construction. To fulfil expected demand, we require infrastructure investments of nearly Euro 10 billion in Europe alone. This amount, however, appears feasible given the present market size and financial sheets of publicly traded EV charging companies. Also, major nations such as the United States have committed to constructing nearly half a million chargers by 2030. The amount of money invested in charging stations has doubled – In 2020, investment in charging station start-ups surged by more than 150 %, and this year is expected to see similar growth, with businesses like Volta, Freeware Technologies, and others getting large sums of money from reputable venture investors. Moreover, Tesla's massive global charging network, which includes over 25,000 superchargers, accounts for a percentage of the company's trillion-dollar valuation. Calculating the cost of a charge in dollars and cents – Based on charging profiles and existing technology, the sector may require around 40 million chargers across China, Europe, and the United States by 2030, representing a total capital expenditure of $50 billion (Exhibit 5). By 2030, the United States alone will require 13 million chargers and $11 billion in investment. During the same time span, the European Union will require 15 million chargers and around $17 billion in investment. In China, the total number of chargers is 14 million, with a total investment of $19 billion.

Selecting between slow, rapid, and superfast charging –

• AC charging, often known as level 1 or level 2, is a type of charging that uses alternating current. An in-vehicle inverter converts alternating current (AC) to direct current (DC), which is then used to charge the battery at either level 1 (equal to a US household outlet) or level 2 (corresponding to a car battery) (240 volts). It can generate up to 20 kilowatts of power. • DC charging, commonly known as level 3 or direct-current fast charging, is a type of rapid charging that uses direct current (DCFC). Without the use of an inverter, this charging mechanism converts AC from the grid to DC before entering the automobile and charges the battery. It operates at power levels ranging from 25 kilowatts to more than 350 kilowatts and is commonly referred to as direct-current rapid charging or level 3. • It's possible to charge wirelessly. Electromagnetic waves are used to charge the batteries in this system. A charging station is normally connected to a wall socket and a plate is affixed to the car. Current technologies are compatible with level 2 chargers and can deliver 11 kilowatts of power.

Emerging Trends for Electric Vehicle (EV) Charging Infrastructure Market

1) Wireless Charging – Many manufacturers are actively attempting to convince local communities and companies to discard cable and socket charging in favor of a non-contact electrical charging solution for electric vehicles. The ground-based technology can be incorporated into the asphalt of a road or affixed to off-street parking spaces on a wide scale. Induction charging will be used to charge the battery of a vehicle parked above the system remotely. Inductive charging, which involves energy being transferred through an air gap between two magnetic coils, lies at the heart of the technology. It enables the transfer of electrical energy from the grid to a vehicle without the use of cables. Magnetic resonance coupling occurs between two copper coils set to the same frequency, one implanted in the ground and the other mounted under the vehicle, to transfer energy. The setup resembles that of a transformer, with the primary in the ground and the secondary in the vehicle. This is not a standalone charger. It simply takes the place of a direct grid connection. A conventional charger, such as a Level 1 or Level 2 charger, receives the AC power picked up by the secondary coil. 2) Battery Swapping – A Battery Swapping Infrastructure essentially supports the swapping of discharged batteries in a vehicle with fully charged batteries from a shelf. A key advantage of battery swapping is the reduced time for energy replenishment in EVs as battery swap can be possible within 5-15 minutes compared to up to eight hours required for charging a battery. This strategy of providing a widespread battery swapping model is also expected to contribute to reducing the upfront cost of EVs as vehicles can be sold with a battery available on lease. An electric car can drive over a battery switching station, where an automatic or manual mechanism will open up the bottom of the car, remove the spent battery, and replace it with a new fully charged battery. It's easy to imagine robot mechanics replacing the battery in an electric car. 3) Vehicle to Grid Energy Transfer (V2G) – The Smart Grid's V2G facility envisions electricity-generating utilities being able to level demand on their generating capacity by drawing energy from the batteries of EVs connected to the grid during peak demand hours during the day and returning it to the vehicles during low demand hours at night. To send the energy back into the grid, charging stations would need to be capable of bi-directional power transmission, featuring inverters with precisely controlled voltage and frequency output.

Electric Vehicle Charging Infrastructure Market Segment Analysis:

The Electric Vehicle (EV) Charging Infrastructure Market is segmented into Charger Type, Connector Type, and Application. Based on Charger Type, the market is sub-segmented into the slow charger and Fast charger. In 2020, the fast charger type segment dominated the market, accounting for more than 93.0 % of global sales. The strong demand for rapid chargers in commercial stations was cited as the reason for the increase. The majority of businesses have installed Level 1 DC fast chargers or Level 2 AC charging stations, which can fully charge an electric vehicle in 4 to 6 hours. In addition, as part of their attempts to promote awareness about their electric cars, automakers are focused on the installation of EV charging stations for their staff. The installation of 100 Level 2 EV charging stations in the parking areas of General Motors Company's Detroit facility, for example, has resulted in a surge in employee demand for the company's Chevrolet Volt electric automobiles. Based on the Connector Type, the market is sub-segmented into CHAdeMO, Combined Charging System (CCS), and others. In 2020, the CHAdeMO connector segment held a considerable market share of over 17 %. This is due to its compatibility with a wide range of EVs (including BMW, GM, and VW, among others) as well as its ease of use. It also allows for more design flexibility in EVs because it only requires a single charging port, whereas CHAdeMO connectors require two charging ports due to their inability to enable AC charging. Furthermore, the current CHAdeMO connectors can produce 62.5 kW of DC and are compliant with the Japan Electric Vehicle Standard (JEVS). Electric Vehicle Charging Infrastructure Market 2 Based on the Application, the market is sub-segmented into Commercial and Residential. Due to government initiatives and funding allocation by automotive manufacturers for constructing public EVCI infrastructure, the commercial market accounted for the greatest revenue share of almost 84 % in 2020. Public infrastructure development is required because overnight charging or charging at home would not be sufficient for long-distance travel. Several public transportation agencies are also partnering with automotive manufacturers to develop electric bus charging stations. For example, TRAFIKSELSKABET MOVIA has inked a deal with Siemens for the installation of top-down pantograph electric bus charging stations for electric buses operated by 45 municipalities, including the City of Copenhagen and Region Zealand.

Electric Vehicle Charging Infrastructure Market Regional Analysis:

In 2020, Asia Pacific dominated the global market, accounting for more than 58 percent of total sales. Electric vehicle (EV) hotspots include China, Japan, and South Korea, which are investing heavily on charging infrastructure development. For example, in October 2018, the Chinese government stated its plan to invest in EV infrastructure deployment in order to meet the aim of supporting 5 million electric vehicles on the road by 2020. As part of its effort to encourage environmentally-friendly vehicles in the transportation sector, South Korea announced an expenditure of roughly USD 180.3 million to extend EV charging infrastructure across the country. In 2020, the number of electric charging stations in Japan overtook the number of fuel stations, with over 40,000 charging outlets. Electric Vehicle Charging Infrastructure Market 3 Several European countries have set lofty goals for carbon reduction and electric vehicle stock commitments by 2020. The Automated and Electric Vehicles (AEV) Act, for example, was passed by the United Kingdom government in July 2018. It gives the government extra tools to ensure that EVCI is implemented quickly on highways and at gas stations. In addition, in October 2018, Germany established the German National Platform for Electric Mobility, a government advisory organization tasked with analyzing the growth of electric mobility and publicly accessible EV charging infrastructure. Other European countries, like France and Belgium, are concentrating on the construction of EV charging and support infrastructure to allow interoperability between different electric vehicles across the region. The objective of the report is to present a comprehensive analysis of the global Electric Vehicle Charging Infrastructure Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps understand the global Electric Vehicle Charging Infrastructure Market dynamics and structure by analyzing the market segments and projects the global Electric Vehicle Charging Infrastructure Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Electric Vehicle Charging Infrastructure Market make the report investor’s guide.

Electric Vehicle Charging Infrastructure Market Scope: Inquire before buying

Electric Vehicle Charging Infrastructure Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: 2,115   Thousand Units
Forecast Period 2021 to 2027 CAGR: 46.6 % Market Size in 2027: 30,758 Thousand Units
Segments Covered: by Charger Type • Slow Charger • Fast Charger
by Connector Type • CHAdeMO • Combined Charging System (CCS) • Others
by Application • Commercial • Residential

Electric Vehicle Charging Infrastructure Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Electric Vehicle Charging Infrastructure Market Key Players

• ABB Group • AeroVironment, Inc. • Elektromotive Limited • ChargePoint, Inc. • Schneider Electric SE • Chargemaster Plc • Delphi Automotive LLP • Eaton Corporation • Siemens AG • SemaConnect, Inc. • ClipperCreek, Inc. • Tesla Motors, Inc. • General Electric Company • Leviton Manufacturing Co., Inc. • Engie • EVgo • ChargePoint • Blink Network • BYD Company

Frequently Asked Questions:

1) What was the market size of the Electric Vehicle Charging Infrastructure Market in 2020? Ans - Electric Vehicle Charging Infrastructure Market was worth US$ 2,115 Thousand Units. In 2020. 2) What is the market segment of the Electric Vehicle Charging Infrastructure Market? Ans -The market segments are based on Charging type, Connector Type, and Application. 3) What is the forecast period considered for Electric Vehicle Charging Infrastructure Market? Ans -The forecast period for Electric Vehicle Charging Infrastructure Market is 2021 to 2027. 4) What is the Electric Vehicle Charging Infrastructure market size in 2027? Ans –Electric Vehicle Charging Infrastructure Market is estimated as worth 30,758 Thousand Units 5) Which region is dominated in Electric Vehicle Charging Infrastructure Market? Ans -In 2020, the Asia Pacific region dominated the Electric Vehicle Charging Infrastructure Market.
1. Global Electric Vehicle Charging Infrastructure Market: Research Methodology 2. Global Electric Vehicle Charging Infrastructure Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Electric Vehicle Charging Infrastructure Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Electric Vehicle Charging Infrastructure Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global Electric Vehicle Charging Infrastructure Market Segmentation 4.1. Global Electric Vehicle Charging Infrastructure Market, by Charger type (2020-2027) • Slow Charger • Fast Charger 4.2. Global Electric Vehicle Charging Infrastructure Market, by Connector type (2020-2027) • CHAdeMO • Combined Charging System (CCS) • Others 4.3. Global Electric Vehicle Charging Infrastructure Market, by Application (2020-2027) • Commercial • Residential 5. North America Electric Vehicle Charging Infrastructure Market (2020-2027) 5.1. North America Electric Vehicle Charging Infrastructure Market, by Charger type (2020-2027) • Slow Charger • Fast Charger 5.2. North America Electric Vehicle Charging Infrastructure Market, by Connector type (2020-2027) • CHAdeMO • Combined Charging System (CCS) • Others 5.3. North America Electric Vehicle Charging Infrastructure Market, by Application (2020-2027) • Commercial • Residential 5.4. North America Electric Vehicle Charging Infrastructure Market , by Country (2020-2027) • US • Canada • Mexico 6. European Electric Vehicle Charging Infrastructure Market (2020-2027) 6.1. European Electric Vehicle Charging Infrastructure Market , by Charger type (2020-2027) 6.2. European Electric Vehicle Charging Infrastructure Market , by Connector type (2020-2027) 6.3. European Electric Vehicle Charging Infrastructure Market, by Application (2020-2027) 6.4. European Electric Vehicle Charging Infrastructure Market , by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Electric Vehicle Charging Infrastructure Market (2020-2027) 7.1. Asia Pacific Electric Vehicle Charging Infrastructure Market , by Charger type (2020-2027) 7.2. Asia Pacific Electric Vehicle Charging Infrastructure Market , by Connector type (2020-2027) 7.3. Asia Pacific Electric Vehicle Charging Infrastructure Market, by Application (2020-2027) 7.4. Asia Pacific Electric Vehicle Charging Infrastructure Market , by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Electric Vehicle Charging Infrastructure Market (2020-2027) 8.1. Middle East and Africa Electric Vehicle Charging Infrastructure Market , by Charger type (2020-2027) 8.2. Middle East and Africa Electric Vehicle Charging Infrastructure Market , by Connector type (2020-2027) 8.3. Middle East and Africa Electric Vehicle Charging Infrastructure Market, by Application (2020-2027) 8.4. Middle East and Africa Electric Vehicle Charging Infrastructure Market , by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Electric Vehicle Charging Infrastructure Market (2020-2027) 9.1. Latin America Electric Vehicle Charging Infrastructure Market, by Charger type (2020-2027) 9.2. Latin America Electric Vehicle Charging Infrastructure Market by Connector type (2020-2027) 9.3. Latin America Electric Vehicle Charging Infrastructure Market, by Application (2020-2027) 9.4. Latin America Electric Vehicle Charging Infrastructure Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. ABB 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. AeroVironment, Inc. 10.3. Elektromotive Limited 10.4. ChargePoint, Inc. 10.5. Schneider Electric SE 10.6. Chargemaster Plc 10.7. Delphi Automotive LLP 10.8. Eaton Corporation 10.9. Siemens AG 10.10. SemaConnect, Inc. 10.11. ClipperCreek, Inc. 10.12. Tesla Motors, Inc. 10.13. General Electric Company 10.14. Leviton Manufacturing Co., Inc. 10.15. Engie 10.16. EVgo 10.17. ChargePoint 10.18. Blink Network 10.19. BYD Company

About This Report

Report ID 14654
Category Energy & Power
Published Date Sept 2019
Updated Date Dec 2021
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