Global Electric Vehicle Charging Station Market

Global Electric Vehicle Charging Station Market Size, Share, Growth Analysis, By Vehicle Type(Passenger Vehicles, Commercial Vehicles), By Charger Type(AC Charging Station, DC Charging Station), By Application Type(Public, Private), By Level of charging(Level 1, level 2), By Charging infrastructure type(Normal charging, type 2) - Industry Forecast 2022-2028


Report ID: SQSG25C2003 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 144 | Figures: 73

Global Electric Vehicle Charging Station Market Insights

Electric Vehicle Charging Station Market size was valued at USD 18.1 Billion in 2021, and it is expected to reach a value of USD 120.6 Billion by 2028, at a CAGR of 31.12% over the forecast period (2022 - 2028).

Electric car charging systems connect the plug-in electric vehicle and electric vehicle to an electrical outlet to charge the vehicle's battery. Furthermore, numerous automakers and electric component manufacturers are collaborating on the development of improved electric car charging systems in order to meet the growing demand for these vehicles. Some charging stations have complex capabilities such as smart metering, cellular connectivity, network connectivity, and so on, while others are more basic. The global EV sector is expanding quickly, particularly in the United States and China. Zero-emission transportation is the driving force behind increased EV sales throughout the world. It will increase demand for electric car charging stations. Technological advancements in portable charging stations, smart charging with load management, and automated payment with rapid charging technology will open up new markets for the Market. The need for EV fast-charging infrastructure is increasing as a result of the government's initiative to promote the adoption of EVs and associated infrastructure.

During the lockdown, the COVID-19 epidemic had a little influence on the EV charging sector, but demand for EV charging stations soared beginning in 2021. Top charging station manufacturers and network operators worldwide increased the number of private and public EV chargers.

US Electric Vehicle Charging Station Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot

Global Market Size

USD 18.1 Billion

Largest Segment

DC Charging Station

Fastest Growth

DC Charging Station

Growth Rate

31.12% CAGR

Global Electric Vehicle Charging Station Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Electric Vehicle Charging Station Market Size by Charger Type, 2021-2028 ($ Bn)
Global Electric Vehicle Charging Station Market Size by, Charger Type 2021-2028 (%)

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Global Electric Vehicle Charging Station Market Segmental Analysis

The Global Electric Vehicle Charging Station Market is segmented on the basis of Application Type, Vehicle Type, Charger Type, level of charging, charging infrastructure type, and Region. Based on Application, the market is segmented into Public and Private. Based on the Vehicle, the market is segmented into Passenger and Commercial vehicles. Based on the Charger, the market is segmented into AC Charging and DC Charging. Based on level of charging, the market is segmented into Level 1, level 2, level 3. Based on charging infrastructure type, the market is segmented into Normal charging, type 2, CHAdeMO, CCS, Tesla SC, GB/T. Based on the Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Charger

In 2021, DC charger held a significant share in the electric vehicle charging station market. The AC charger, or slow/moderate charger segment, has modest growth and penetration. In 2021, these chargers accounted for 16.24% of the market. The segment will show low growth during the forecast period due to the high time required to charge EVs.

Global Electric Vehicle Charging Station Market By Charger Type, 2021 (%)

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Global Electric Vehicle Charging Station Market Regional Insights

The APAC region is estimated to dominate the Electric Vehicle Charging Station Market during the forecast period. The APAC market seemed to be driven by the large-scale growth of EV charging infrastructure in China which in turn increases the demand for affordable EVs for daily usage purposes. China invested around USD 2.4 billion in improving the charging infrastructure in the country. Japan and Korea have declared a plan to increase the number of EV charging stations in upcoming years. Further, the Indian government has announced plans to build 69,000 EV charging stations around the country as part of the first phase of EV infrastructural development with a demand for 4lakh charging stations expected by 2028.

In 2021, Europe held the second-largest position in the market for EV charging stations due to the presence of key market players in this region. Consumer adoption of EVs and autonomous vehicle shared mobility is likely to fuel market growth in the region.

Global Electric Vehicle Charging Station Market By Geography, 2021-2028
  • Largest
  • Fastest

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Global Electric Vehicle Charging Station Market Dynamics

Driver

Significant Investment in Electric Vehicles to Boost Market Growth

  • The rising popularity and use of electric cars have necessitated the development of charging infrastructure. Leading EV markets including China, the United States, and Germany are spending heavily on EV charging infrastructure as well as R&D for quicker and more efficient charging techniques. Significant expenditures by enterprises are projected to respond to the expanding demand for EVs and play a significant influence in the market's growth. Tesla, Volkswagen, Ford, Nissan, BMW, and General Motors all have large R&D resources for EV research. Despite COVID, the globe experienced a 43% increase in EV sales in 2021, with roughly 4 million EV sales, while the total vehicle industry decreased by 7%. This demonstrates the increasing demand for electric vehicles and EV charging stations.

Restrains

Lack of Infrastructure to Hinder Market Growth

  • The development of the EV industry, as well as variances in charger types, has necessitated the standardization of EV charging stations. Some EV charging stations may be only compatible with a specific voltage. AC chargers, for example, give a voltage of 120V AC via level 1 charging stations and 208/240V AC via level 2 charging stations. DC chargers, on the other hand, allow quick charging using 480V AC. Many governments need to standardize charging infrastructure in order to build a favorable ecology and encourage EV sales.

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Global Electric Vehicle Charging Station Market Competitive Landscape

The Electric Vehicle Charging Station Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are BP Chargemaster, ChargePoint Inc, Eaton, and Seimens AG among others who are driving the market.

Top Player’s Company Profiles

  • ABB (Switzerland)
  • BP Chargemaster (UK)
  • BYD (China)
  • ChargePoint Inc. (US)
  • Eaton (Ireland)
  • EVBox (Netherlands)
  • Schneider Electric. (France)
  • Seimens AG. (Germany)
  • Shell International BV (Netherlands)
  • Tesla Inc. (US)
  • Webasto Group (Germany)
  • Tata Power (India)
  • Delta Electronics (India)
  • Amara Raja (India)
  • Magenta Group (India)

Recent Developments

  • In May 2022, Tata power won the bid for a 300MW solar project from the government firm NHPC, and also started a joint venture with Hyundai India to grow its EV charging station infrastructure in India.
  • In April 2022, ABB announced a global framework deal with Shell to deliver its technology to aid in the expansion of the latter's EV charging network. This deal expands on the two companies' relationship that began in 2019 and include ABB's Terra 360 rapid charger.
  • In February 2022, Siemens Smart Infrastructure in the United States announced a new sustainable, EV charging concept structure aimed at electrifying fleets and high-demand charging applications at scale. The new VersiCharge XL concept (UL standard) was developed to quickly and efficiently electrify new or existing parking lots and building structures in the United States by utilizing a modular, scalable design created in collaboration with Nexii Building Solutions using their proprietary, sustainable building material with a low carbon footprint.

Global Electric Vehicle Charging Station Key Market Trends

  • EV has become an integral part of the automobile industry. This can help to achieve energy efficiency and reduce harmful emissions of pollutants and greenhouse gases. Environmental concerns and government initiatives are the major factors driving this growth. The annual sales volume of electric passenger cars is projected to cross the 7 million marks by the end of 2025. Electric cars are expected to account for 17% of the overall vehicle sales by 2025.
  • The EV market has witnessed high growth in recent years. In 2021, many European countries witnessed a double-digit growth rate in EV sales. The European market captured around 43% of the global EV sales in 2021, compared to 26% in 2019. The overall sales of EVs reached about 3.24 million units, compared to 2.26 million in 2020. There is an increase in sales due to regulatory norms by various organizations and governments to control emission levels and propagate zero-emissions and eco-friendly vehicles.
  • Governments across the globe have introduced various schemes and initiatives to encourage buyers to choose EVs over conventional vehicles. APAC, Europe, UK are some of the countries offering various incentives for people looking to purchase an EV due to this the Electric Vehicle Charging Station Market will have more demand in the upcoming years.

Global Electric Vehicle Charging Station 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 global electric vehicle charging station market analysis, By vehicle type, the passenger segment is expected to hold a dominant share in electric vehicle charging station market. By Charger type, the DC charger or fast charger sector is expected to hold the most substantial market share over the forecast period. By Application type, public-based segment is expected to hold the most substantial share over the projection period. Zero-emission transportation is the driving force behind rising EV sales around the world. It will raise the need for electric vehicle charging stations. Portable charging stations, smart charging with load management, automated payment, and rapid charging technology will open up new markets for the Electric Vehicle Charging Station Market.

Report Metric Details
Market size value in 2021 USD 18.1 Billion
Market size value in 2028 USD 120.6 Billion
Growth Rate 31.12%
Base year 2021
Forecast period 2022 - 2028
Forecast Unit (Value) USD Billion
Segments covered
  • Vehicle Type
    • Passenger Vehicles, Commercial Vehicles
  • Charger Type
    • AC Charging Station, DC Charging Station
  • Application Type
    • Public, Private
  • Level of charging
    • Level 1, level 2, level 3
  • Charging infrastructure type
    • Normal charging, type 2, CHAdeMO, CCS, Tesla SC, GB/T
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
  • ABB (Switzerland)
  • BP Chargemaster (UK)
  • BYD (China)
  • ChargePoint Inc. (US)
  • Eaton (Ireland)
  • EVBox (Netherlands)
  • Schneider Electric. (France)
  • Seimens AG. (Germany)
  • Shell International BV (Netherlands)
  • Tesla Inc. (US)
  • Webasto Group (Germany)
  • Tata Power (India)
  • Delta Electronics (India)
  • Amara Raja (India)
  • Magenta Group (India)
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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 Global Electric Vehicle Charging Station 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
  • 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 Global Electric Vehicle Charging Station 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
  • 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
  • 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(%)

Methodology

For the Global Electric Vehicle Charging Station 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 Global Electric Vehicle Charging Station 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 Global Electric Vehicle Charging Station Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

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FAQ's

Electric Vehicle Charging Station Market size was valued at USD 18.1 Billion in 2021, and it is expected to reach a value of USD 120.6 Billion by 2028, at a CAGR of 31.12% over the forecast period (2022 - 2028).

The Electric Vehicle Charging Station Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are BP Chargemaster, ChargePoint Inc, Eaton, and Seimens AG among others who are driving the market. 'ABB (Switzerland)', 'BP Chargemaster (UK)', 'BYD (China)', 'ChargePoint Inc. (US)', 'Eaton (Ireland)', 'EVBox (Netherlands)', 'Schneider Electric. (France)', 'Seimens AG. (Germany)', 'Shell International BV (Netherlands)', 'Tesla Inc. (US)', 'Webasto Group (Germany)', 'Tata Power (India)', 'Delta Electronics (India)', 'Amara Raja (India)', 'Magenta Group (India)'

The rising popularity and use of electric cars have necessitated the development of charging infrastructure. Leading EV markets including China, the United States, and Germany are spending heavily on EV charging infrastructure as well as R&D for quicker and more efficient charging techniques. Significant expenditures by enterprises are projected to respond to the expanding demand for EVs and play a significant influence in the market's growth. Tesla, Volkswagen, Ford, Nissan, BMW, and General Motors all have large R&D resources for EV research. Despite COVID, the globe experienced a 43% increase in EV sales in 2021, with roughly 4 million EV sales, while the total vehicle industry decreased by 7%. This demonstrates the increasing demand for electric vehicles and EV charging stations.

EV has become an integral part of the automobile industry. This can help to achieve energy efficiency and reduce harmful emissions of pollutants and greenhouse gases. Environmental concerns and government initiatives are the major factors driving this growth. The annual sales volume of electric passenger cars is projected to cross the 7 million marks by the end of 2025. Electric cars are expected to account for 17% of the overall vehicle sales by 2025.

The APAC region is estimated to dominate the Electric Vehicle Charging Station Market during the forecast period. The APAC market seemed to be driven by the large-scale growth of EV charging infrastructure in China which in turn increases the demand for affordable EVs for daily usage purposes. China invested around USD 2.4 billion in improving the charging infrastructure in the country. Japan and Korea have declared a plan to increase the number of EV charging stations in upcoming years. Further, the Indian government has announced plans to build 69,000 EV charging stations around the country as part of the first phase of EV infrastructural development with a demand for 4lakh charging stations expected by 2028.

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