USD 31.39 billion
Report ID: SQMIG25C2045 | Region: Global | Published Date: February, 2023 | Pages: 243 | Tables: 142 | Figures: 78
Global Electric Vehicle Charging Infrastructure Market size was valued at USD 31.39 billion in 2021 and is poised to grow from USD 39.44 billion in 2022 to USD 121.09 billion by 2030, growing at a CAGR of 25.5% in the forecast period (2023-2030).
Electric vehicles, neighbourhood EVs, and plug-in hybrids can all be charged using an electric vehicle charging station. While some charging stations are more complex than others, some offer cutting-edge technologies like smart metres, cell phone connectivity, and network access.
The electric vehicle (EV) market is growing rapidly all around the world, but especially in China and the US. The EV charging market is a dynamic one with many different applications. The growth of automobile charging stations is greatly influenced by government initiatives in many different nations. For an instance, China's central government has sanctioned the creation of fast-charging stations through national policies. Similar to China, the US government plays a crucial role in developing EV charging stations by setting mandatory criteria and allocating cash. The consumers are forced to rely solely on the charging options accessible at their homes and places of employment because there are still not enough commercial charging stations in several nations and areas.
Additionally, the market growth would be helped by the growing advancement in communication technologies, such as real-time data on all-electric car charging stations for smart connection. However, the load curve and the rising number of transformer levels.
Global Market Size
USD 31.39 billion
Largest Segment
Fast Charger
Fastest Growth
Fast Charger
Growth Rate
25.5% CAGR
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Global Electric Vehicle Charging Infrastructure Market is segmented based on the Charger Type, Charging Mode, Connector Type, Vehicle Type, Application, and region. Based on Charger Type Global market is segmented into Slow Charger, Fast Charger. Based on the Charging Mode into Plug-In, Wireless. Based on the Connector Type into Supercharger, SAE Combo Charging System, GB/T, CHAdeMO. Based on the Vehicle Type into Two-Wheeler, Passenger Car, Commercial Vehicle. Based on the Application into Commercial, Residential. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Charger Type
The segment for electric vehicle charging infrastructure is classified slow charger and fast charger. The DC fast-charging (DCFC) segment is anticipated to show the greatest and most noticeable CAGR during the forecasted time period. The government's increasing investments in fast-charging infrastructure, facilities like offering rebates on the purchase of DC fast-charging stations, and the advantages of DCFCs in providing fast charging over Level 1 and Level 2 charging stations are all contributing factors to the segment's explosive growth.
Analysis by Connector Type
The market is segmented into CHAdeMO, combined charging system (CCS), and others based on connector type. CCS charging sockets combine AC and DC inlets using shared communications pins. Because of this, the CCS charging socket takes up less space than an equivalent CHAdeMO or GB/T DC socket with an AC socket. Manufacturers can easily switch the AC plug component for Type 1 in the US and (perhaps) Japan for Type 2 in other regions because CCS1 and CCS2 share the same DC pin architecture and communications standards. CCS uses PLC (Power Line Communication), a technology used for power grid communications, as the method of communication with the car to start and control charging. This makes it possible for the vehicle to connect with the grid as a "smart appliance," but it also prevents it from working with the GB/T and CHAdeMO DC charging systems without the use of specialised adaptors, which are hard to find. An intriguing recent development is that Tesla has approved the CCS2 standard for DC charging for the European Tesla Model 3 deployment.
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North America and Europe are expected to experience the fastest growth rates during the predicted timeframe. There will probably be a significant rise in the number of DC charging stations constructed in the US during the next few years. It is anticipated that there will be more home charging facilities for electric vehicles in Germany and the United States.
Due to the organised electric vehicle market and the presence of leading heavy-duty electric vehicle charging infrastructure manufacturers, China is an important market in the Asia-Pacific region. Due to the increasing demand for electric buses and the measures taken by governments in China, Japan, and India to promote the development of heavy-duty electric vehicles, the need for heavy-duty EV charging infrastructure in the Asia-Pacific region is anticipated to increase dramatically. The market in this region is expanding as a result of rising demand for the construction of charging infrastructure and growing regional OEM partnerships. Due to government initiatives, strict government regulations, and growing demand for heavy-duty electric vehicles like buses and trucks, China is one of the top markets in the Asia-Pacific region.
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Drivers:
The growth of charging infrastructure development has been highlighted by the rising acceptance and use of electric vehicles. Among the nations investing extensively in EV charging infrastructure and research & development for quicker and more effective charging methods include China, the United States, and Germany.
A number of technological developments, such as the integration of all-EV charging station systems with internet of things (IoT) and real-time information solutions, are driving market progress. With the help of these technologies, customers can find nearby charging stations, get up-to-the-minute updates on vacant spots, and plan convenient fill-up times.
Restraint:
On the other hand, the market's growth rate will be constrained by the current electric vehicle charging infrastructure's lack of standardisation. Variations in charging loads and the expansion of the electric vehicle market have drawn attention to the need for standardisation of charging stations. The installation of electric vehicle charging stations is restricted by strict regulations, which will slow the market's expansion. Along with this, the low power grid infrastructure and high cost of EVs compared to ICE vehicles would restrain market expansion.
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The competitive landscape for the market for electric vehicle charging stations provides information by competitor. Included information includes a business overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance. Only the companies' market focus on electric vehicle charging stations is covered by the data points mentioned above.
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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 our electric vehicle charging infrastructure market analysis, the development of a strong infrastructure to support the needs of these vehicles is a priority for manufacturers as sales of electric vehicles increase globally. The creation of suitable charging infrastructure is required by the rising popularity of electric vehicles. To meet customer demand, significant advancements in home and commercial charging are also expected during the forecast period.
Report Metric | Details |
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Market size value in 2021 | USD 31.39 billion |
Market size value in 2030 | USD 39.44 billion |
Growth Rate | 25.5% |
Base year | 2021 |
Forecast period | 2023-2030 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Electric Vehicle Charging Infrastructure 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 Infrastructure 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.
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 Infrastructure 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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Product ID: SQMIG25C2045