Growing numbers of electric vehicle owners worldwide require vehicle charging systems, so manufacturers are concentrating on maximizing charging stations and charging points to meet these vehicles' operational requirements. Over the projection period, significant advancements in both indoor and outdoor charging are expected. The promotion of electric vehicles by governments around the world is also encouraging the market expansion of EV charging stations.
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Data Bridge Market Research analyses that the Global Electric Vehicle Charging Stations Market of 2023 to 2030 is expected to reach a value of USD 16.9 billion in 2022, would reach up to USD 194.78 billion by 2030, and are expected to undergo a CAGR of 35.74% during the forecast period of 2023 to 2030. The increasing adoption of electric vehicles around the world was one of the primary drivers for the growth of EV charging stations. As more consumers and businesses embraced electric vehicles, the need for a reliable and widespread charging infrastructure became evident.
Key Findings of the Study
Rising consumer awareness is expected to drive the market's growth rate
The increasing awareness among consumers about the advantages of electric vehicles, including lower operating costs, reduced emissions, and quieter operation, has led to a surge in demand for both EVs and charging infrastructure. As people recognize the environmental and economic benefits, they are more inclined to embrace electric mobility, driving the growth of the electric vehicle market and the need for accessible and convenient charging stations to support this transition.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Charging Stations (AC Charging/ Normal Charging Station, DC Charging/ Super Charging Station, Others), Charger Type (Portable Charger, Fixed Charger), Charging Type (Off Board Top Down Pantograph, On Board Bottom Up Pantograph, Charging Via Connector), Charging Services (EV Charging Services, Battery Swapping Service), Mode Of Charging (Plug In Charging, Wireless Charging), Connectivity Type (Non-Connected Charging Stations, Smart Connected Charging Stations, Pantograph, Connectors, Combined Charging Systems, Chademo, Others), Charging Infrastructure (Normal Charging, Type 2, CCS, Tesla SC, GB/T Fast), Vehicle Type (Passengers Cars, Commercial Cars, Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicles (PHEV), Two Wheelers and Scooters, Hybrid Electric Vehicles (HEV)), Installation Type (Individual Houses, Commercial, Apartments, Others), Connecting Phase (Single Phase, Three Phase), Technology (Level 1, Level 2, Level 3), Operations (Mode 1, Mode 2, Mode 3, Mode 4), Components (Hardware, Software, Services), Application (Public, Semi-Public, Private), End User (Residential, Commercial)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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ABB (Switzerland), ChargePoint, Inc. (U.S.), Tesla (U.S.), BYD Motors Inc. (China), BP p.l.c. (U.K.), Webasto Group (Germany), Schneider Electric (France), Blink Charging Co. (U.S.), Renault Group (France), Phihong USA Corp. (U.S.), EV Safe Charge Inc (U.S.), Eaton (Ireland), Tata Power. (India), SemaConnect, Inc. (U.S.), Mercedes-Benz Group AG. (Germany), Siemens (Germany), EVgo Services LLC (U.S.), Engie SA (France), TotalEnergies(France), Enphase Energy (U.S.) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The electric vehicle charging Stations market is segmented on the basis of charging stations, charger type, charging type, charging services, mode of charging, connectivity type, charging infrastructure, vehicle type, installation type, connecting phase, technology, operations, components, applications and end user
- On the basis of charging stations, the electric vehicle charging stations market is segmented into ac charging/ normal charging station, dc charging/ super charging station, others. AC charging/normal charging station segment is dominating the charging stations of the electric vehicle charging stations market with a CAGR of 46.0% in the forecast period of 2023-2030 due to their widespread availability, cost-effectiveness, and compatibility with most electric vehicles. These stations provide convenient and accessible charging options for EV owners, contributing to the overall growth of the market.
In 2023, AC charging/normal charging station segment is dominating the charging stations of the electric vehicle charging stations
In 2023, AC charging/normal charging station segment is dominating the charging stations of the electric vehicle charging stations owing to their extensive presence, cost-effectiveness, and compatibility with a wide range of electric vehicles. Their convenient and accessible charging options have significantly contributed to the market's overall growth, making them a popular choice among EV owners with a CAGR of 46.0% in the forecast period of 2023-2030
- On the basis of charger type, the electric vehicle charging stations market is segmented into portable charger, fixed charger. Fixed charger segment is dominating the charger type segment of the electric vehicle charging stations market with a market share of 79.37% in the forecast period of 2023-2030 due to its convenience and affordability, offering a stable and fixed charging rate. It is widely adopted for home and workplace installations, ensuring reliable and accessible charging solutions for electric vehicle owners.
- On the basis of charging type, the electric vehicle charging stations market is segmented into off board top down pantograph, on board bottom up pantograph, charging via connector.
- On the basis of charging services, the electric vehicle charging stations market is segmented into EV charging services, battery swapping service
- On the basis of mode of charging, the electric vehicle charging stations market is segmented into plug in charging, wireless charging
- On the basis of connectivity type, the electric vehicle charging stations market is segmented into non-connected charging stations, smart connected charging stations, pantograph, connectors, combined charging systems, chademo, others
- On the basis of charging infrastructure, the electric vehicle charging stations market is segmented into normal charging, type 2, ccs, tesla SC, GB/t fast
- On the basis of vehicle type, the electric vehicle charging stations market is segmented into passenger’s cars, commercial cars, battery electric vehicle (BEV), plug-in hybrid electric vehicles (PHEV), two wheelers and scooters, hybrid electric vehicles (HEV). Battery electric vehicle (BEV) segment is dominating the vehicle type of the electric vehicle charging stations market with a CAGR of 51.3% in the forecast period of 2023-2030 due to relying solely on electric batteries for propulsion, producing zero tailpipe emissions, lower operational costs, and contributing to the global shift towards sustainable transportation.
In 2023, Battery electric vehicle (BEV) segment is dominating the vehicle type of the electric vehicle charging stations market
In 2023, Battery electric vehicle (BEV) segment is dominating the vehicle type of the electric vehicle charging stations market owing to the electric batteries, resulting in zero tailpipe emissions, reduced operational costs, and aligning with the global trend towards sustainable transportation with a CAGR of 51.3% in the forecast period of 2023-2030.
- On the basis of installation type, the electric vehicle charging stations market is segmented into individual houses, commercial, apartments, others. Individual houses segment is dominating the installation type segment of the electric vehicle charging stations market with a CAGR of 47.4% in the forecast period of 2023-2030 due to autonomy and flexibility for homeowners to choose suitable charging solutions, driving increased adoption of electric vehicle charging stations at residential properties.
- On the basis of connecting phase, the electric vehicle charging stations market is segmented into single phase, three phase
- On the basis of technology, the electric vehicle charging stations market is segmented into Level 1, Level 2, and Level 3. Level 2 segment is dominating the technology segment of the electric vehicle charging stations market with a CAGR of 47.6% in the forecast period of 2023-2030 due to its faster charging rates compared to Level 1, providing increased convenience for EV owners without requiring extensive infrastructure upgrades, making it widely adopted.
- On the basis of operations, the electric vehicle charging stations market is segmented into mode 1, mode 2, mode 3, mode 4
- On the basis of components, the electric vehicle charging stations market is segmented into hardware, software, services
- On the basis of application, the electric vehicle charging stations market is segmented into public, semi-public, and private
- On the basis of end user, the electric vehicle charging stations market is segmented into residential, commercial
Major Players
Data Bridge Market Research recognizes the following companies as the major electric vehicle charging stations market players in electric vehicle charging stations market are ABB (Switzerland), EV Safe Charge Inc (U.S.), Engie SA (France), Siemens (Germany), EVgo Services LLC (U.S.)
Market Developments
- In 2023, ABB E-mobility revealed its innovative Terra Home charging solution at CES 2023, the world's foremost technology event held in Las Vegas. It is set to be available for purchase around mid-2023. With its unique design, Terra Home empowers users to optimize their renewable energy usage, ultimately reducing their carbon impact.
- In 2022, ABB formed a strategic alliance with Tallarna Ltd. to expand its user-friendly energy management technologies offerings. The solution leverages AI-powered data analytics to make it easier to undertake decarbonization projects for large real estate portfolios and energy infrastructure.
- In 2022, Chargepoint launched the CP6000 charger. This comprehensive charging solution caters to the needs of European businesses and fleets, providing them with the tools they need to transition to electric mobility. It combines station hardware, network software, and customer support to offer a seamless experience.
- In 2022, Eaton expanded its contract with the General Services Administration (GSA) to cover electric vehicle supply equipment (EVSE) and related services. This move is crucial in achieving the US goal of reaching net-zero emissions by 2050 and advancing the development of EV charging infrastructure.
- In 2022, Tata Power entered into a strategic partnership with Hyundai to build a robust EV charging network and accelerate the adoption of EVs across India
- The mobility start-up in India, planned to establish 500 EV charging stations in 11 cities in India. The company has partnered with Midgard Electric as the EV charging partner to install Bharat AC-001 and DC-001 EV chargers for the Automobile’s outlets.
- Around 5000 EV charging stations have been installed by Exicom, a power solutions and telecom equipment company, in 200 Indian cities. The business has set up about 3600 AC and 1400 DC fast chargers in bus stops, public charging stations, homes, and residential neighborhoods.
Regional Analysis
Geographically, the countries covered in the Electric Vehicle Charging Stations market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in electric vehicle charging stations market during the forecast period 2023-2030
Asia-Pacific's dominance in the global electric vehicle (EV) charging stations market can be attributed to several factors. The region has a strong industrial base and is home to major players in the market, contributing to technological advancements and infrastructure development. Additionally, supportive foreign policies and government initiatives aimed at promoting clean transportation further drive the market. The increasing demand for EVs in Asia-Pacific also fuels the need for robust charging infrastructure, solidifying the region's leading position in the market.
North America is estimated to be the fastest growing region in electric vehicle charging stations market the forecast period 2023-2030
North America is poised for substantial growth in the electric vehicle (EV) charging stations market. The region experiences a high demand for EVs and boasts a strong electronic market, with companies such as Tesla leading the way. The availability of a growing market and the increasing need for quality charging infrastructure to support the rising adoption of EVs contribute to the significant growth potential in North America's EV charging stations market.
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