Electric Vehicle (EV) 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, level 3), By Charging infrastructure type(Normal charging, type 2, CHAdeMO, CCS), By Region - Industry Forecast 2024-2031


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 35.2 billion in 2019 and is poised to grow from USD 46.4 billion in 2023 to USD 417.35 billion by 2031, growing at a CAGR of 31.5% in the forecast period (2024-2031).

Electric car charging systems connect the plug-in electric vehicle to an electrical outlet to charge the vehicle's battery. Also, an electric vehicle charging station offers charging facilities to small and large automotives. Location-wise, the facilities are stationed at distant intervals based on density of electric vehicles and availability of demand. 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 premium capabilities such as smart meters, cellular connectivity, network connectivity, and so on, while some are more basic and standard. 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 the 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 the associated infrastructure.

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

Market Snapshot - 2024-2031

Global Market Size

USD 35.2 billion

Largest Segment

DC Charging Station

Fastest Growth

DC Charging Station

Growth Rate

31.5% CAGR

Global Electric Vehicle Charging Station Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Electric Vehicle (EV) Charging Station Market Segmental Analysis

The global electric vehicle (EV) 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 vehicle, the market is segmented into passenger and commercial vehicles. Based on 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, the electric vehicle station market spans North America, Europe, Asia-Pacific, South America, and MEA.

Electric Vehicle (EV) Charging Station Market Analysis by Charger

In 2022, 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 2022, these chargers accounted for 19.24%. The segment is projected to reveal a slow growth during the forecast period owing to the latency time required by EVs.

Global Electric Vehicle Charging Station Market By Charger

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Electric Vehicle (EV) Charging Station Market Regional Insights

APAC is estimated to dominate the electric vehicle charging station market during the forecast period. The regional 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. China invested around USD 2.4 billion in improving the charging infrastructure in the country. Japan and Korea have plans 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 2022, Europe accounted for the second-largest position in the electric vehicle charging station market due to the presence of key market players in this region. Consumer adoption of EVs and autonomous vehicle shared mobility is likely to fuel electric vehicle charging station market growth in the region.

Global Electric Vehicle Charging Station Market By Region
  • Largest
  • Fastest

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Electric Vehicle (EV) Charging Station Market Dynamics

Electric Vehicle (EV) Charging Station Market Driver

Significant Investment in Electric Vehicles to Boost Market Growth

  • The rising popularity and use of electric cars have enabled the development of charging infrastructure. Leading EV markets including China, the United States, and Germany are spending heavily on EV charging infrastructure followed with R&D for quicker and more efficient charging techniques. 
  • Significant expenditures by enterprises are projected to respond to the expanding demand for EVs that 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 45% increase in EV sales in 2022, with roughly 4 million EV sales, while the total vehicle industry decreased by 8%.

Electric Vehicle (EV) Charging Station Market 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. Therefore, there is a huge need for a standardized charging infrastructure to create sustainable development for EV sales.

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Electric Vehicle (EV) 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 Electric Vehicle Charging Station market share and profitability. Some of the major players in the market are BP Chargemaster, ChargePoint Inc, Eaton, and Seimens AG among others.

Electric Vehicle Charging Station Market Top Player’s Company Profiles

  • Tesla
  • ChargePoint
  • EVBox
  • ABB
  • Siemens
  • 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 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.

Electric Vehicle (EV) 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.

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 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 Electric Vehicle Charging Station 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 2019 USD 35.2 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
  • 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
  • Tesla
  • ChargePoint
  • EVBox
  • ABB
  • Siemens
  • Schneider Electric
  • BP Chargemaster
  • Engie
  • Pod Point
  • Alfen
  • Delta Electronics
  • Tritium
  • Webasto
  • Efacec
  • Leviton
  • AeroVironment
  • ClipperCreek
  • Greenlots
  • Blink Charging
  • SemaConnect
Customization scope

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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
  • 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
  • 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 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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FAQs

Electric Vehicle (EV) Charging Station Market size was valued at USD 35.2 billion in 2019 and is poised to grow from USD 46.4 billion in 2023 to USD 417.35 billion by 2031, growing at a CAGR of 31.5% in the forecast period (2024-2031).

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 Electric Vehicle Charging Station market share and profitability. Some of the major players in the market are BP Chargemaster, ChargePoint Inc, Eaton, and Seimens AG among others. 'Tesla', 'ChargePoint', 'EVBox', 'ABB', 'Siemens', 'Schneider Electric', 'BP Chargemaster', 'Engie', 'Pod Point', 'Alfen', 'Delta Electronics', 'Tritium', 'Webasto', 'Efacec', 'Leviton', 'AeroVironment', 'ClipperCreek', 'Greenlots', 'Blink Charging', 'SemaConnect'

The rising popularity and use of electric cars have enabled the development of charging infrastructure. Leading EV markets including China, the United States, and Germany are spending heavily on EV charging infrastructure followed with R&D for quicker and more efficient charging techniques. 

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.

APAC is estimated to dominate the electric vehicle charging station market during the forecast period. The regional 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. China invested around USD 2.4 billion in improving the charging infrastructure in the country. Japan and Korea have plans 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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