USD 35.2 billion
Electric Vehicle (EV) Charging Station Market Size, Share, Growth Analysis, By Connectivity(Non-connected Charging Stations, Non-connected Charging Stations, Slow Charger, Fast Charger), By Level of Charging(Level 1, Level 2, Level 3), By Charging Mode(Plug-In, Wireless), By Connector Type(Supercharger, SAE Combo Charging System, GB/T, CHAdeMO), By Vehicle Type(Two-Wheeler, Passenger Car, Commercial Vehicle), By Application(Commercial and Residential), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25C2091 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
144
|Figures:
78
Electric Vehicle (EV) Charging Station Market Insights
Electric Vehicle (EV) Charging Station Market size was valued at USD 46.4 Billion in 2023 and is poised to grow from USD 61.02 Billion in 2024 to USD 548.82 Billion by 2032, growing at a CAGR of 31.5% during the forecast period (2025-2032).
Electric vehicles have seen tremendous growth in recent years mainly due to energy efficiency and relatively low maintenance. Low battery costs and wide availability of charging facilities for such vehicle's implementation is affordable and convenient. Additionally, companies are investing in private premiums for their customers and employees.
The rise of battery recuperation technology is poised to convert the global market. Improved battery technology has accelerated the variety of any electric powered car charger, while new chargers can now recharge batteries faster, attracting greater customer hobby in electric automobiles. This increased demand needs a need electric vehicle charging stations. Furthermore, the multiplied awareness on autonomy and shared mobility is expected to growth the adoption of electrical vehicles, impacting the market for electric vehicle charging infrastructure.
Many providers of car rental programs are focusing on creating innovative features that will provide consumers with the best rental cars available. For example, in January 2023, Leviton Manufacturing Company, Inc. announced plans to introduce EV series charging stations compatible with the My Leviton application.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
DC Charging Station
Fastest Growth
DC Charging Station
Growth Rate
31.5% CAGR
Country Share for Asia Pacific Region (%)
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Electric Vehicle (EV) Charging Station Market Segmental Analysis
Global Electric Vehicle Charging Station Market is segmented based on the Charger Type, Charging Mode, Connector Type, Vehicle Type, Application, and region. Based on Charger Type, the global market is segmented into Slow Charger, Fast Charger. Based on the Charging Mode, the market is segmented into Plug-In, Wireless. Based on the Connectivity the market is segmented into Non-connected Charging Stations, Non-connected Charging Stations, Supercharger, SAE Combo Charging System, GB/T, CHAdeMO. Based on the Vehicle Type, the market is segmented into Two-Wheeler, Passenger Car, Commercial Vehicle. Based on the Level of Charging the market is segmented into Level 1, Level 2, Level 3. Based on the Application, it is segmented into Commercial, Residential. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Level of Charging
Level 2 charging dominated the market in 2023. This type of charging ranges from 208 volts to 240 volts, and is suitable for the places such as homes, offices and public charging stations as the Level 2 charging infrastructure is easier to set up. Level 2 charging can add range anywhere from 12 to 80 miles per hour, depending on the vehicle's maximum charging rate and the power from the Level 2 charger. Level 2 chargers are seen installed in urban areas, where EVs and the most popular Level 2 chargers are now 10 times more capable of charging vehicles due to charging times and ease of installation.
Level 3 charging will register the fastest CAGR during the forecast period, owing to its fast-charging capabilities. Level 3 chargers, which are faster charging, could use direct current to charge vehicles per minute. The voltage used by Level 3 chargers is higher than Level 1 and Level 2, it seems unlikely that they will be installed in residential areas anymore. However, as the number of EV users increases, companies and public places will implement such charging systems, which can meet the high demand, and this is also expected to provide the level 3 charging level segment increased during the forecast period.
Analysis by Connectivity
The non-connected charging stations segment had the largest market revenue share in 2023. Non-connected charging solutions are also known as non-networked or standalone charging solutions. Non-connected charging solutions provide users with safe and secure charging containing without the hassle of paying refund charge transactions. Off-contact charging solutions mimic the experience of traditional fuel pumps and allow customers to pay to read charging materials.
Some non-connected charging solutions integrate their hardware and software platforms to monitor the health of their chargers. Furthermore, the operating and installation costs of the unconnected charger are low, as no additional network activation costs are incurred again. Lower infrastructure costs for owners and hassle-free charging experience for EV users offered by non-contact charging solutions are expected to contribute to the growth of the segment over the forecast period.
The connected charging stations segment is expected to register the fastest CAGR during the forecast period. Connected charging solutions, also known as network chargers, are charging networks managed by networking software systems. vehicles have been provided with useful features for drivers and customers.
Global Electric Vehicle Charging Station Market By Connectivity (%)
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Electric Vehicle (EV) Charging Station Market Regional Insights
North America is dominating the electric vehicle charging station marketplace throughout the forecast period. There will probably be a tremendous rise within the variety of DC charging stations constructed inside the US for the duration of the next few years. It is anticipated that there may be extra domestic charging centers for vehicles in United States. U.S. and Canadian governments have implemented policies, incentives, and budgets to encourage the adoption of electric vehicles and the development of EV charging infrastructure in the US. Initiatives such while the Vehicle Infrastructure Program (ZEVIP) is accelerating charging networks used across the region.
Asia Pacific is the fastest growing region in the market. China is a critical marketplace in the Asia-Pacific region because of the presence of main heavy-obligation automobile charging infrastructure producers. China, Japan, and India to promote the development of heavy-duty powered motors due to the growing call for powered buses and the measures taken by using governments. The need for heavy-responsibility EV charging infrastructure in the Asia-Pacific region is predicted to growth dramatically. The marketplace in this region is expanding due to rising demand for the construction of charging infrastructure and growing nearby OEM partnerships. Due to government tasks, strict government rules, and developing demand for heavy-duty powered vehicles like buses and trucks.
Global Electric Vehicle Charging Station Market By Region
- Largest
- Fastest
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Electric Vehicle (EV) Charging Station Market Dynamics
Drivers:
Rise in Government Policies and Incentives
- Supportive policies, subsidies and incentives from the government are crucial in expanding the adoption of vehicles and rental cars. These measures can include tax breaks, subsidies and rebates for consumers and businesses that have invested in EV charging solutions. Governments around the world are increasingly implementing policies and providing incentives for electric vehicle (EV) adoption and EV charging infrastructure. These services include subsidies, tax credits, subsidies and rebates for consumers and businesses aiming to reduce the financial burden of purchasing an EV. Besides, governments are setting ambitious targets for the adoption of EVs and mandating charging infrastructure for new buildings and public places where this supportive infrastructure is driving the rapid growth of the market.
Technological Advancements
- Innovations in charging technology, such as faster charging speeds and wireless charging solutions are driving the market forward. Advances in battery technology and improved AI infrastructure are making EVs more accessible and profitable, increasing the demand for battery infrastructure upgrades.
Restraint:
High Initial Investment
- Setting up an EV charging system requires a significant investment in equipment, installation and maintenance. The costs associated with setting up and maintaining charging stations can be a barrier for many stakeholders, especially in communities where EV adoption is still in its infancy.
Lack of Standardization
- Lack of standardization of charging connectors and protocols can cause compatibility issues. Different regions and vehicle manufacturers may use different networks and charging standards, making it difficult to create a universal charging network that meets all needs. The market faces significant challenges due to lack of standardized charging technologies, connectors and protocols. This separation can cause problems with how charging stations fit with electric vehicles, making it harder for EV owners to find suitable options. The absence of universal standards can also hinder the widespread adoption of EVs, as consumers and businesses may hesitate to invest in charging infrastructure that could become obsolete or incompatible with future technologies.
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Electric Vehicle (EV) Charging Station Market Competitive Landscape
The electric vehicle charging station market is characterized by fierce competition between key players aiming to dominate the rapidly expanding sector. Companies in this market are particularly focused on developing advanced, reliable, cost-effective solutions to meet the growing number of vehicles. This competition is driving industrialization development, strategic partnerships and a focus on sustainability. BP and Volkswagen announced a joint venture to build fast charging networks. The partnership aims to deploy thousands of fast chargers in BP dealerships, leveraging BP's extensive network and Volkswagen's expertise in EV technology. The partnership highlights how traditional energy companies can drive the transition to an emphasis is placed on speeding and the larger vehicles. This competitive environment shows how companies are constantly innovating and entering strategic alliances to capture a larger share of the rapidly growing market.
Electric Vehicle Charging Station Market Top Player’s Company Profiles
- BP Chargemaster
- ChargePoint Inc
- Eaton
- Seimens AG
- Tesla
- ChargePoint
- EVBox
- ABB
- Siemen
- Schneider Electric
- BP Chargemaster
- Engie
- Pod Point
- Alfen
- Delta Electronics
- Tritium
- Webasto
- Efacec
- Leviton
- AeroVironment
- ClipperCreek
- Greenlots
- Blink Charging
- SemaConnect
Electric Vehicle Charging Station Market Recent Developments
- In April 2023, the ABB e-mobility business of ABB Limited signed a Memorandum of Understanding (MoU) with PLN Icon Plus, a subsidiary of PT PLN Persero, to facilitate collaboration for the development of EV charging systems in Indonesia.
- In January 2023, ChargePoint Holdings, Inc. was acquired. and Fisker, Inc. is the automotive company and announced an agreement to improve the driving experience of Fisker Ocean drivers.
- In February 2023, bp pulse revealed plans to invest $1 billion in the vehicle (EV) charging stations to be manufactured in the US.
Electric Vehicle (EV) Charging Station Key Market Trends
Rise in the Development of Ultra-fast Charging Networks
- The trend toward ultra-fast wireless charging is gaining momentum. These networks aim to provide charging solutions with significantly reduced charging times by maximizing the advantages of long-distance travel with vehicles. Fast chargers capable of delivering up to kW of power, solving one of the major concerns of EV owners: the time needed to recharge and is expected to accelerate the adoption of vehicles.
Electric Vehicle (EV) 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the electric vehicle charging station market is rapidly expanding as the global shift to sustainable mobility accelerates. The growth is driven by higher adoption of vehicles, government incentives and improvements in charging technology. However, there are restrictions on infrastructure and regulatory standards in this market. Supportive legislation and incentives for EV adoption, such as subsidies and tax incentives, are increasing the demand for EV charging significantly. Innovations in charging technology, including fast charging and wireless charging solutions, make EV charging more efficient and convenient. Differences in charging standards and plugs across regions and EV models can complicate the design and implementation of universal charging networks the development of a strong infrastructure to support the needs of these vehicles is a priority for manufacturers as sales of vehicles increase globally. The creation of suitable charging infrastructure is required by the rising popularity of vehicles. To meet customer demand, significant advancements in home and commercial charging are also expected during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 35.29 billion |
| Market size value in 2031 | USD 417.35 billion |
| Growth Rate | 31.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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:-
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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 Vehicle (EV) 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
- 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 Vehicle (EV) 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
- 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 Vehicle (EV) 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 Electric Vehicle (EV) 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 Electric Vehicle (EV) Charging Station Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Vehicle (EV) Charging Station 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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