Electric Vehicle Charging Station Market size was valued at US$ 25.21 Bn. in 2022 and the total revenue is expected to grow at 30.8% through 2023 to 2029, reaching US$ 165.18 Bn.
Electric Vehicle Charging Station Market Overview:Electric automobiles, neighborhood electric cars, and plug-in hybrids may all be recharged at an electric vehicle charging station, which is technological advancement. While some charging stations are more simple, others include more advanced functionality like Smart metering, cellular capabilities, and network access. Electric utility providers or private organizations offer charging stations in public parking lots or in retail shopping areas under the term electric vehicle supply equipment (EVSE). These stations offer unique connectors that conform to the various requirements for electric charging connectors. The global electric charging station market size is expected to grow from 1,799.69 thousand units in 2021 to 15,419.12 thousand units in 2029. The growing need from commercial and residential sectors helps in growth of the electric vehicle charging station market. Additionally, growing collaborations between automakers to provide charging stations using a subscription model are expected to fuel market growth. Over the past ten years, the worldwide EV industry has experienced extraordinary growth, driven by regulation, subsidies, and increased customer choice. However, the focus is turning from creating EVs to developing the charging infrastructure required to support their operation and maintenance in order to reach the climate objectives for zero-emission cars.To know about the Research Methodology :- Request Free Sample Report
Electric Vehicle Charging Station Market Dynamics:"Hidden expenses" for electric vehicle charging station The cost of the charger unit alone in terms of hardware, power distribution, software, and services is significantly higher. Additionally, while this may harm building owners and grid operators who haven't made plans for future charging demands, it may also offer opportunities for suppliers who can adjust to the energy transformation. The cost of a charger unit for a residential charge point can be as little as $400, $2,400 for a public AC level 2 charge point, and more than $30,000 for a lower-end—50 to 150 kW—DCFC charging station. The report covered detailed and additional costs which can represent the majority of the total upfront costs of an EV charging infrastructure. “On-the-go” charging is key to EV growth The majority of EV owners are expected to charge their vehicles up to 80 or 90% of the time at home or at work during the day. Given that longer charging times are irrelevant in these use cases, Level 2 chargers will probably be employed. Level 2 chargers have been tested by some EV charging companies at nearby locations like supermarkets, shopping centers, and movie theaters, but these charge points might not draw in repeat customers. Few local short-trip EV owners will need to recharge, and even if they did, slower Level 2 charging wouldn't be helpful for anyone in a rush. On the other hand, "alert" who were traveling farther would need to charge and would probably be willing to pay more for fast-charging (Level 3 or 4) in order to save time. Hotels might be an exception, where visitors can overnight charge their vehicles. A global hotel network with over 3,000 sites that offer EV charging capability has observed indirect income improvements as a result of the installation of EV chargers at several of its locations, including one in Southern California. According to the hotel proprietors, the additional EV charging facilities have resulted in an increase in overnight guests, as well as those who stick in the lounge and restaurant long enough to charge their vehicles and lunch. Therefore, charging becomes a destination in and of itself for visitors, who would likely look for a combination of speed, convenience, and affordable prices due to this increased competition and investment by other industry key players rise in the demand for on-the-charging stations. How to mack money with an EV charging station? EV charging stations also help to put a good company on the map. Popular navigation applications like Google Maps and Waze, as well as specialized charging apps like PlugShare, have live maps that allow drivers to find local public charging stations. Having charging stations on-site helps in increasing the company brand's visibility on these platforms and attracts new consumers. Furthermore, by displaying your brand colors or logo on customized charging stations, businesses may substantially boost company corporate image by letting everyone who sees them know that having a good company is openly dedicated to a more sustainable future. Having good customers are thinking more and more about the environment. Visitors may promote the company brand as an environmentally responsible one by installing charging stations on local premises. Users could even be able to secure some important sustainability certifications for your location (LEED, GBB, WELL). IoT boost the market The Internet of Things would revolutionize the EV charging experience. It will automatically integrate grids, networks, green energy, batteries, and automobiles to optimize resource consumption and provide a better charging experience. This system would be referred to as IoV. (Internet of Vehicles) Electric vehicles and buses will become increasingly popular. Amazon and Walmart are two examples of large corporations that want to create an eco-friendly image. The adoption of zero-emission commercial cars is part of their present agenda. As a result, EV charging players would need to develop mega-chargers to enable the long-distance operation of these huge electric vehicles The number of public EV chargers is expected to continue to grow at a double-digit percentage rate each year. This makes the EV charging stations industry one of the most promising in terms of growth rate and development. In 2019, public fees increased by 85% over the previous year. The growth rate in 2020 was half that, owing mostly to the covid-19 pandemic. The large majority of EV users charge their vehicles at home or at work, using primarily slowdown chargers. In the forecast period, witness a significant increase in demand for fast and ultra-fast public chargers, boosted by convenience and shorter charging times at a lower cost. Lack of charging infrastructure The demand for the standardisation of electric car charging stations has been highlighted by factors including the expansion of the electric vehicle industry and variances in charging loads. Some EV charging stations might only work with a particular voltage. For instance, level 1 charging stations for AC devices offer a voltage of 120V AC, and level 2 charging stations offer a voltage of 208/240V AC. On the other side, DC charging stations use 480V AC to deliver quick charging. Governments must standardise the infrastructure for charging EVs in order to create a supportive environment and boost EV sales. Different nations utilise various rapid charging standards. China utilises GB/T, Europe, the US, and South Korea use CCS, while Japan uses CHAdeMO. Since India hasn't achieved fast charging method standardisation, the Indian government has enforced the installation of both CHAdeMO and CCS systems. Although this regulation raised the cost of installing charging stations, the government revised the rules in July 2019 to enable charging station developers to choose the technique of their choice. Tesla, an American manufacturer of electric vehicles, employs high-performance superchargers that are exclusive to Tesla and incompatible with other EVs. The absence of uniformity across countries ay impact the installation of charging stations and hamper the growth of the mark
Electric Vehicle Charging Station Market Segment Analysis:By Level of charging, the (EV) EV Charging Station Market is segmented into Level 1, Level2, and Level 3 types. Level and level 2 charging are expected to be the fastest-growing segment by level of charging during the forecast period. According to a recent EV adoption, Alternative Fuels Data Center (AFDC) data, the number of DC fast chargers (ports) increased by more than 4,200, or 24 percent, at the end of 2021 compared to year-end 2020. The growth of Level 2 chargers, which increased by 13,883 during the same time period, was significantly more than the 4,216 new DC fast chargers, but at a lower rate of 18% than the Level 2 chargers with a considerably bigger base. We anticipate even more growth in 2023, with $7.5 billion set aside for three distinct EV charging infrastructure schemes, in addition to the DOE loan program and a doubling of new EV sales in the US. The number of DC fast chargers and 105,000–110,000 Level 2 chargers might increase and DC fast chargers to 27,000 to 30,000.
Time to Charge EV with a 60-kWh battery is the time to raise the battery's charge level from 10% to 80% The largest charging networks, such as Tesla Supercharger (DC fast charging) and Destination Charging (Level 2), Electrify America, EVgo, and ChargePoint, will be responsible for the majority of the growth in 2023. However, regional networks like Francis Energy and EVRange and convenience store chains like 7-Eleven and CircleK will also contribute to the growth, particularly for DC fast chargers. And more detailed level type data is collected in the report.By Charging Infrastructure Type, based on charging infrastructure type upcoming tesla supercharger held highest market share in 2021. Tesla (NASDAQ: TSLA), a producer of electric vehicles (EVs), has seen a large increase in the number of its supercharger stations to keep up with the industry's growing demands. Tesla reported a year-over-year (YoY) rise of 33.88% from the 2,966 stations reported during a comparable time in 2021 to 3,971 supercharger stations in Q2 2022. The stations had a total of 3,724 during the first three months of 2022, an increase of 7.13% over the previous quarter. In other regions, the business also noticed a rise in the quantity of supercharger connections, which totaled 36,165 in Q2 2022. The number shows a YoY increase of 34.44%.The company's adoption of unique strategies in the wake of challenges facing international EV firms centered on innovations has facilitated the trend in supercharger stations. For instance, Tesla is using a new prefab technique that enables the installation of a new charging station in a matter of days. The technique streamlines the installation process by effectively handling tasks like locating a suitable location and scheduling an installer. The reason why people continue to prefer Teslas over goods such as Audi's eTron or appealing EVs from General Motors' Buick, Cadillac, GMC, and Chevy brands. They may drive their Teslas for long miles with complete faith that they will locate convenient charging stations. While the incumbent manufacturers are currently focused solely on developing their electric vehicles, Tesla has been considering the complete vehicle system in order to meet consumers' primary driving demands. This is the main factor driving the tesla supercharger market. Based on the Application, based on application public charging stations held the largest market share in 2021. A large number of EV owners won't have access to private or designated parking spaces with charging stations. These EV owners will require public charging stations to refuel their vehicles. thanks to these drive the market in the forecast period. Public charging stations work effectively in places that draw guests for comparatively longer stays and already have parking available. More charging stations will probably be installed in markets, restaurants, and malls also installation of EV chargers helps boost the demand in the restaurant and mall market. Employee EV charging infrastructure is already being installed in several workplaces. The need for EV charging in large office buildings or technology parks will increase. By allowing for daylight charging, workplace charging will be essential to allow EV loads to absorb further PV generation. Roadside parking In densely populated major city locations where cars are already parked, roadside and street charging have been included in charging deployment schemes globally and may also be required in India. As EV adoption rises, groups of DC rapid charging stations along highways or other long-distance corridors will become the norm. These stations will primarily serve as high-speed chargers and most likely give discoms little to no demand flexibility. Governments all around the world are expected to support (in full or part) the building of EV public charging infrastructure. The majority of countries have established challenging goals for the number of chargers they hope to install by 2030. For example, different financial allocations for the development of public charging infrastructure were declared by France, Germany, and other countries. To fulfill the future demands, infrastructure improvements total more than Euro 10 billion in Europe alone. However, this sum is doable in light of the present market capitalization and financial sheets of publicly traded EV charging companies. Furthermore, important countries like the US have committed to constructing more than 500,000 chargers by 2030. current government policies are moving in the right direction to satisfy this desire, but the agreement has not yet been finalized. Naturally, EV worries continue. Accordingly, both public and private investment is required to construct and support the charging infrastructure (either by plugging in or switching out) in order to support and sustain the rapid adoption of EV.
Charging Level Power delivery Rang added per Hour Time to charge 60kWh EV Level 1 1-1.4 kW 3-5 miles 30-40 hours Level 2 3.9-19.2 kW 12-80 miles 2.5-4.5 hours Level 3 24-300 kW 75-1,200 miles 30-40 minutes
EV Charging Station Market Regional Insights:The Asia Pacific region dominated the market with a 45 % share in 2021. By volume, The Asia-Pacific electric vehicle charging stations market is expected to reach 10,105.20 thousand units by 2029, growing at a CAGR of 40.8% during the forecast period of 2023 to 2029. Asian brands already account for a huge percentage of consumer automobile buying in the region, and similar dynamics are emerging in EVs. Chinese brands have established strong positions in the E4W market. China's BYD increased its market share by 5% in 2021, while Wuling's popular and affordable Hongguang Mini EV sold more than 400,000 units within a year of its launch. Between 2017 and 2021, Asia manufactured 13 of the top 20 selling EV brands. According to our forecast, ASEAN markets would require an estimated 95,000 public AC and 40,000 DC charging outlets by 2030 expected numbers of registered EVs (assuming mixed analysis of laggard/medium/advanced adoption trends). While Thailand and the Philippines have started to support the growth of EV infrastructure. The governments of developing countries have taken a number of steps to entice major OEMs to produce electric car charging infrastructure in their own countries after seeing the development potential of the global market for charging stations for electric vehicles. For instance, EV charging station network providers have teamed with several OEMs to offer free EV charging to EV drivers. Due to this, the production of electric vehicles has increased recently, satisfying both domestic and international demand. Globally, electric vehicles and charging technologies are exported from China and Japan. Governments are further pushing private parties to set up public charging stations by offering discounted power costs. As companies like Volta, Freewire Technologies, and others obtaining significant sums of money from reputable venture capitalists, the investment in charging station startups is expected to expand by over 150% this year. Furthermore, with more than 25,000 superchargers, Tesla's trillion-dollar value can be partially ascribed to its extensive worldwide charging infrastructure.
EV Charging Stations Industry Competative landscapeThe Electric Vehicle Charging Station Market is dominated by major charging providers including ABB, Charge Point, Tesla, BYD, Shell, Delta Electronics, Inc., Tata Power. With state-owned businesses, domestic investors, and international investors all joining the charging sector through joint ventures, acquisitions, or investments, some of the key players in the market are dominated by the highest market share for the development of charging infrastructure. While new companies are expected to advance the charging industry once they enter the market and appropriately utilize their benefits. The report will showcase two well-known representative suppliers concentrating on various angles in Electric Vehicle Charging Station Market . World's leading technology corporation ABB (ABBN: SIX Swiss Ex) drives social and industrial change for automation, and motion. Having supplied more than 680,000 electric vehicle chargers in more than 85 markets, including those sold through Chargedot, ABB is a global leader in EV charging solutions and the go-to partner for the largest electric car OEMs and global EV charging network operators. ABB E-mobility and Shell will work together to address two issues that are preventing more people from adopting EVs. First, there is the availability of charging infrastructure. Shell aims to operate 2,500,000 charge stations worldwide by 2030 and over 500,000 charge points globally by 2025, either at residential, commercial, or Shell retail locations. Second, charging speed, using ABB's variety of stations including its Terra 360 charge. Tata Power obtained SJVN Ltd.'s 1GW order for India's largest solar EPC project in May 2022, according to an announcement. Tata Power will have the top market position on the day the order is completed, and the company's brand worth will increase. The business may simply increase earnings with their solution.
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Electric Vehicle Charging Station Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 25.21 Bn. Forecast Period 2023 to 2029 CAGR: 30.8% Market Size in 2029: US $ 165.18 Bn. Segments Covered: by Level of charging • Level 1 • Level 2 • Level 3 by Charging Infrastructure Type • Normal Charging • Fast Charging • CHAdeMO • CCS • Tesla SC • GB/T by Application • Public • Private
Electric Vehicle Charging Station Market, by Region• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)
Electric Vehicle Charging Station Market, Key Players are:• EV Charge Solutions (US) • Blink Charging (US) • Tesla, Inc. (US) • General Electric Company (US) • Leviton Manufacturing Co., Inc. (US) • SemaConnect (US) • ChargePoint, Inc. (US) • ClipperCreek, Inc. (US) • EVgo (US) • Connected Kerb Limited (UK) • bp pulse (UK) • ABB Ltd. (Switzerland) • Siemens AG (Germany) • Webasto Group (Germany) • Engie (France) • Schneider Electric SE (France) • CIRCUTOR, SA (Spain) • Telwin SpA (Italy) • Alfen N.V. (Netherlands) • Heliox Energy (Netherlands) • Allego B.V. (Netherlands • Eaton Corporation plc (Ireland) • Bell Hub Pty Ltd. (Australia) • Chargefox Pty Ltd (Australia) • BRIGHTBLU (India) • Prodrive Technologies (Japan) Frequently Asked Questions: 1] What segments are covered in the Global Electric Vehicle Charging Station Market report? Ans. The segments covered in the Electric Vehicle Charging Station Market report are based on Product Type and End User. 2] Which region is expected to hold the highest share in the Global Electric Vehicle Charging Station Market ? Ans. The asia pacific region is expected to hold the highest share in the Electric Vehicle Charging Station Market . 3] What is the market size of the Global Electric Vehicle Charging Station Market by 2029? Ans. The market size of the Electric Vehicle Charging Station Market by 2029 is expected to reach US$ 165.18 Bn. 4] What is the forecast period for the Global Electric Vehicle Charging Station Market ? Ans. The forecast period for the Electric Vehicle Charging Station Market is 2023-2029. 5] What was the market size of the Global Electric Vehicle Charging Station Market in 2022? Ans. The market size of the Electric Vehicle Charging Station Market in 2022 was valued at US$ 25.21 Bn.
1. Global Electric Vehicle Charging Station Market: Research Methodology 2. Global Electric Vehicle Charging Station Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Electric Vehicle Charging Station 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 Station 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 • South America 3.12 COVID-19 Impact 4. Global Electric Vehicle Charging Station Market Segmentation 4.1 Global Electric Vehicle Charging Station Market, by Level of charging (2023-2029) • Level 1 • Level 2 • Level 3 4.2 Global Electric Vehicle Charging Station Market, by Charging Infrastructure Type (2023-2029) • Normal Charging • Fast Charging • CHAdeMO • CCS • Tesla SC • GB/TM 4.3 Global Electric Vehicle Charging Station Market, by Application (2023-2029) • Public • Private 5. North America Electric Vehicle Charging Station Market(2023-2029) 5.1 North America Electric Vehicle Charging Station Market, by Level of charging (2023-2029) • Level 1 • Level 2 • Level 3 5.2 North America Electric Vehicle Charging Station Market, by Charging Infrastructure Type (2023-2029) • Normal Charging • Fast Charging • CHAdeMO • CCS • Tesla SC • GB/TM 5.3 North America Electric Vehicle Charging Station Market, by Application (2023-2029) • Public • Private 5.4 North America Electric Vehicle Charging Station Market, by Country (2023-2029) • United States • Canada • Mexico 6. Europe Electric Vehicle Charging Station Market (2023-2029) 6.1. European Electric Vehicle Charging Station Market, by Level of charging (2023-2029) 6.2. European Electric Vehicle Charging Station Market, by Charging Infrastructure Type (2023-2029) 6.3. European Electric Vehicle Charging Station Market, by Application (2023-2029) 6.4. European Electric Vehicle Charging Station Market, by Country (2023-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Electric Vehicle Charging Station Market (2023-2029) 7.1. Asia Pacific Electric Vehicle Charging Station Market, by Level of charging (2023-2029) 7.2. Asia Pacific Electric Vehicle Charging Station Market, by Charging Infrastructure Type (2023-2029) 7.3. Asia Pacific Electric Vehicle Charging Station Market, by Application (2023-2029) 7.4. Asia Pacific Electric Vehicle Charging Station Market, by Country (2023-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Electric Vehicle Charging Station Market (2023-2029) 8.1 Middle East and Africa Electric Vehicle Charging Station Market, by Level of charging (2023-2029) 8.2. Middle East and Africa Electric Vehicle Charging Station Market, by Charging Infrastructure Type (2023-2029) 8.3. Middle East and Africa Electric Vehicle Charging Station Market, by Application (2023-2029) 8.4. Middle East and Africa Electric Vehicle Charging Station Market, by Country (2023-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Electric Vehicle Charging Station Market (2023-2029) 9.1. South America Electric Vehicle Charging Station Market, by Level of charging (2023-2029) 9.2. South America Electric Vehicle Charging Station Market, by Charging Infrastructure Type (2023-2029) 9.3. South America Electric Vehicle Charging Station Market, by Application (2023-2029) 9.4 South America Electric Vehicle Charging Station Market, by Country (2023-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 EV Charge Solutions (US) 10.1.1. Company 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. Blink Charging (US) 10.3. Tesla, Inc. (US) 10.4. General Electric Company (US) 10.5. Leviton Manufacturing Co., Inc. (US) 10.6. SemaConnect (US) 10.7. ChargePoint, Inc. (US) 10.8. ClipperCreek, Inc. (US) 10.9. EVgo (US) 10.10. Connected Kerb Limited (UK) 10.11. bp pulse (UK) 10.12. ABB Ltd. (Switzerland) 10.13. Siemens AG (Germany) 10.14. Webasto Group (Germany) 10.15. Engie (France) 10.16. Schneider Electric SE (France) 10.17. CIRCUTOR, SA (Spain) 10.18. Telwin SpA (Italy) 10.19. Alfen N.V. (Netherlands) 10.20. Heliox Energy (Netherlands) 10.21. Allego B.V. (Netherlands 10.22. Eaton Corporation plc (Ireland) 10.23. Bell Hub Pty Ltd. (Australia) 10.24. Chargefox Pty Ltd (Australia) 10.25. BRIGHTBLU (India) 10.26. Prodrive Technologies (Japan)