USD 279.45 billion
Electric Mobility Networks Market Size, Share, Growth Analysis, By Charging Infrastructure(Public Charging Stations, Private Charging Stations, Workplace Charging Stations), By Software and Services(Payment Processing, Energy Management, Charging Station Maintenance and Monitoring), By End-User(Commercial, Residential, Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25C2056 |
Region:
Global |
Published Date: February, 2024
Pages:
233
|Tables:
90
|Figures:
76
Electric Mobility Networks Market Insights
Electric Mobility Networks Market size was valued at USD 279.45 billion in 2019 and is poised to grow from USD 355.46 billion in 2023 to USD 2436.06 billion by 2031, growing at a CAGR of 27.2% in the forecast period (2024-2031).
As more consumers choose to buy electric vehicles, there is a greater demand for charging infrastructure and other components of electric mobility networks. This trend is expected to continue as EVs become more affordable and more charging stations are built.
The global automotive industry is experiencing a once-in-a-century revolution. Electric vehicle economics are rapidly changing, and automotive electrification is increasing, resulting in an exponential increase in electric vehicle sales. Furthermore, the expansion of the electric vehicle required to charge service network and infrastructure development are driving the growth of the electric mobility market.
According to the International Energy Agency (IEA), global EV sales will surpass 3 million units by 2031. Government initiatives to provide subsidies and tax breaks for electric vehicle purchases contributed significantly to sales growth. Incentives offered in Europe on EV purchases in 2019, for example, have fueled EV sales in the region and increased the global e-mobility market. Furthermore, shifting consumer preferences from conventional to electric vehicle purchases due to environmental concerns and tightening emission norms globally has influenced market growth.
US Electric Mobility Networks Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Public Charging Stations
Fastest Growth
Private Charging Stations
Growth Rate
27.2% CAGR
Global Electric Mobility Networks Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Electric Mobility Networks Market Segmental Analysis
Global Electric Mobility Networks Market is segmented based on Charging Infrastructure, Software and Services, End-User, and region. Based on Charging Infrastructure the market is segmented into Public Charging Stations, Private Charging Stations, Workplace Charging Stations. Based on Software and Services the market is segmented into Large Payment Processing, Energy Management, Charging Station Maintenance and Monitoring, Small and Medium Enterprises (SMEs). Based on End-User the market is segmented into Commercial, Residential, Industrial. Based on region the global Electric Mobility Networks Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Electric Mobility Networks Market Analysis by Charging Infrastructure
In 2021, the market was dominated by the public charging stations. Several factors can be attributed to the increase in public charging stations. First, the growing number of electric vehicles on the road has necessitated the expansion of charging infrastructure to support them. Second, government subsidies and regulations have aided in the development of public charging infrastructure. Third, the growing popularity of ride-sharing services and other forms of shared mobility has increased demand for public charging stations in places like parking garages and shopping malls.
Many companies, including established energy companies, start-ups, and automakers, have entered the public charging station market in recent years. Furthermore, governments and utilities have contributed significantly to the installation of public charging stations. As a result, the market for public charging stations is expected to remain dominant.
Global Electric Mobility Networks Market By Charging Infrastructure
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Electric Mobility Networks Market Regional Insights
Asia Pacific dominated the global electric mobility networks market in 2021, with a market size of USD 9.53 billion, and this position is expected to be maintained throughout the forecast period. The widespread use of electric vehicles in China fueled market expansion. According to the International Energy Agency (IEA), EV sales in China increased over the previous year. Furthermore, increasing penetration of electric vehicles in APAC emerging markets such as India, South Korea, Japan, and others is expected to boost market growth in the future.
Europe has the fastest-growing electric mobility networks market. With an increasing number of governmental policies and incentives for new EV purchases, as well as a shift in populace preference towards electric mobility as a result of strict pollution norms and environmental impacts, Europe is expected to experience a promising CAGR of 29.3% during the forecast period. For example, by 2020, EV sales in Europe will have more than doubled, with completely new EV registrations reaching 1.4 million units, the highest of any country. Furthermore, the well-established auto industry in major European countries such as Germany, the United Kingdom, and others, combined with the availability of charging infrastructure.
Global Electric Mobility Networks Market By Region
- Largest
- Fastest
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Electric Mobility Networks Market Dynamics
Electric Mobility Networks Market Drivers
- Commitment of Automakers to Become Carbon Neutral to Drive Market Growth
Almost all of the major automakers have already stated their intention to become carbon neutral throughout the near future. They intend to discontinue the production of fossil-fuel-powered vehicles and transform their entire product portfolio. For example, Ford Motor Company announced in February 2021 that its European division would soon phase out the production of fossil fuel-powered vehicles, and by 2026, Ford will only offer charging stations and plug-in hybrid electric vehicles. Furthermore, by 2030, all passenger cars will be powered solely by batteries. As a result, automakers' emphasis on rapid electrification is expected to boost market growth during the forecast period.
- Globally, governments are enforcing stringent emission standards in order to reduce carbon emissions and combat climate change. They also implement various abandoning policies for conventional or fossil-fuel-powered vehicles. As a result of growing scepticism about the adoption and prospective use of traditional or fossil fuel-powered vehicles, consumers' preferences are shifting towards electric vehicles, which will drive market growth during the forecast period.
Electric Mobility Networks Market Restraints
- Global shortage of semiconductor chips will stymie market growth The global shortage of semiconductor chips has also reduced overall EV production. For example, major automakers such as Volkswagen, Mercedes-Benz, General Motors, and others have already seen a drop in new electric vehicle production volume, resulting in a shortage of new electric vehicles and an increase in delivery time and cost of the EVs. Furthermore, the slow adoption of electric mobility in some developing and developing countries may limit market growth in the coming years.
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Electric Mobility Networks Market Competitive Landscape
The market for electric mobility networks is extremely competitive. Due to the presence of numerous small and large players, the market. The competitive landscape of the market is rapidly evolving as new companies enter the market and existing players expand their offerings. ChargePoint, EVBox, and ABB are well-established players in the electric vehicle charging infrastructure market, offering a variety of charging solutions for both public and private use. These businesses are expanding their product lines to include more advanced charging technologies, such as high-power chargers and battery swapping solutions. Furthermore, partnerships and collaborations have been formed by companies in the electric mobility networks market in order to accelerate the development of new technologies and expand their reach. Some charging infrastructure providers, for example, have collaborated with utilities to integrate their charging stations with the power grid, while others have collaborated with automakers to provide charging solutions to their customers.
Electric Mobility Networks Market Top Player’s Company Profiles
- ChargePoint Inc.
- EVBox Group
- Enel X S.p.A.
- ABB Ltd.
- E.ON SE
- Schneider Electric SE
- Siemens AG
- Tesla Inc.
- ENGIE SA
- Allego BV
- Greenlots (Shell New Energies US LLC)
- Blink Charging Co.
- Liberty Global Inc. (Virgin Media Limited)
- NewMotion B.V. (Shell New Energies US LLC)
- Ionity GmbH (BMW Group, Daimler AG, Ford Motor Company, and Volkswagen AG)
- Chargefox Pty Ltd.
- Pod Point Ltd.
- Innogy SE
- Delta Electronics Inc.
- The Mobility House GmbH
Electric Mobility Networks Market Recent Developments
- In February 2023, The electric vehicle charging network EVgo was reported to have raised $190 million in a funding round led by investment firm ECP. The funds will be used to expand the charging infrastructure of the company across the United States.
- In January 2023, The city of Los Angeles announced a partnership with electric vehicle charging company EV Connect to install up to 250 public charging stations throughout the city by 2025.
- In December 2022, Nio, a Chinese electric vehicle manufacturer, was reported to have partnered with State Grid EV Service to build a network of battery swap stations across China. The partnership's goal is to make owning an electric vehicle more convenient and accessible to Chinese consumers.
Electric Mobility Networks Key Market Trends
- Many governments around the world have put in place policies and initiatives to encourage the use of electric vehicles and the advancement of electric mobility networks. Some countries, for example, provide monetary incentives for purchasing EVs or implementing charging stations, whereas others have set targets for charging infrastructure deployment.
- Technological advancements have made electric mobility connections more efficient, dependable, and cost-effective. Fast charging technology, for example, has reduced the amount of time it takes to charge an EV, while smart charging systems can help optimise the use of the power grid.
Electric Mobility Networks Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our electric mobility networks market analysis, the market is a rapidly growing and evolving industry, driven by the growing adoption of electric vehicles and the need for charging infrastructure to support them. The market is fiercely competitive, with established players in the charging infrastructure and energy sectors vying for market share alongside newer entrants. Growing government incentives and regulations are also propelling the market forward. The market is currently dominated by public charging stations, but newer technologies such as battery swapping and high-power chargers are expected to play an increasingly important role in the coming years. Overall, the market is expected to expand rapidly as electric vehicle adoption rises and demand for charging infrastructure rises.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 279.45 billion |
| Market size value in 2031 | USD 2436.06 billion |
| Growth Rate | 27.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Electric Mobility Networks Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Electric Mobility Networks Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Electric Mobility Networks Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Mobility Networks Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Mobility Networks Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Mobility Networks Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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