North America Electric Vehicle (EV) Charging Stations Market

North America Electric Vehicle Charging Stations Market Size, Share, Growth Analysis, By Technology(level 1, level 2 and level 3), By Vehicle type(battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV)), By Region - Industry Forecast 2024-2031


Report ID: SQMIR20D2249 | Region: Regional | Published Date: April, 2024
Pages: 202 |Tables: 60 |Figures: 75

North America Electric Vehicle (EV) Charging Stations Market Insights

North America Electric Vehicle (EV) Charging Stations Market size was valued at USD 1.89 billion in 2022 and is poised to grow from USD 2.49 billion in 2023 to USD 22.84 billion by 2031, at a CAGR of 31.9% during the forecast period (2024-2031).

The electric vehicle charging station, also known as the electric vehicle supply equipment (EVSE), is a device that transfers electricity from the power grid and distributes it to electric vehicles such as battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles.

Government initiatives to promote the use of electric vehicles and related infrastructure, rising demand for electric vehicle fast-charging infrastructure, an increase in the prevalence of range anxiety, and increased use of EVs by shared mobility operators are the main factors influencing the growth of this market. Shifts in consumer purchasing behaviour caused by pandemic uncertainty are expected to have a significant impact on the industry's near-term growth.

Meanwhile, the shortfall and cash crunch have already had an impact on fleet operators' sales, which are expected to worsen in the coming months. Automobile manufacturers in North America are facing a major demand setback as a result of stringent federal, state, or provincial, and local regulations restricting travel and social interactions.

North America Electric Vehicle Charging Stations Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 1.89 billion

Largest Segment

Level 2

Fastest Growth

Level 2

Growth Rate

31.9% CAGR

North America electric vehicle charging stations market, 2022-2030(Bn)
Country Share for North America Region- 2022 (%)

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North America Electric Vehicle (EV) Charging Stations Market Segmental Analysis

The North America Electric Vehicle (EV) Charging Stations Market is segmented into technology and vehicle type. On the basis of technology, North America Electric Vehicle Charging Stations Market is segmented into level 1, level 2 and level 3. By vehicle type North America Electric Vehicle Charging Stations Market is segmented into battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV).

North America Electric Vehicle (EV) Charging Stations Market Analysis by Technology

On the basis of technology, North America electric vehicle charging stations market is segmented into level 1, level 2 and level 3. The Level 2 segment dominate the technology segment as it resembles AC charging; however, Level 3 is expected to grow at a higher rate as it collaterally resembles DC charging.

North America Electric Vehicle (EV) Charging Stations Market Analysis by Vehicle

The market for electric vehicle charging stations is divided into two categories based on the kind of vehicle: battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV). Battery electric vehicles (BEVs), which are predicted to increase at a higher rate, due to their low cost and low maintenance requirements, currently dominate the vehicle type segment.

North America electric vehicle charging stations market size by technology, 2022(%), 2022 (%)

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North America Electric Vehicle (EV) Charging Stations Market Regional Insights

According to estimates, the United States will account for the largest share of the North American electric vehicle charging station market in 2022. The country's large market share is primarily due to actions taken by local and state governments, as well as utility stakeholders, to reduce consumer barriers regarding policies, grants, and incentives for EVs and charging stations. During the forecast period, Canada is expected to have the fastest market growth rate in terms of value. The country's rapid market growth can be attributed to the government's and manufacturers' increasing efforts to develop electric vehicle charging infrastructure.

North America electric vehicle charging stations market size by geography ,2022-2030, 2024-2031
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North America Electric Vehicle (EV) Charging Stations Market Dynamics

North America Electric Vehicle Charging Stations Market Drivers

Rise of Electric Vehicle Sales to Bolster Market Growth

  • One of the key factors propelling the growth of the market for electric vehicle charging stations is the rise in the number of electric vehicle (EV) sales in the area. Due to growing environmental concern, customer preference is quickly shifting toward passenger and commercial electric vehicles (EV).
  • The market is growing faster thanks to rising technical improvements like the Internet of Things (IoT) and real-time information solutions being integrated into all-EV charging station systems. The technologies find nearby charging stations and offer real-time data on the number of open places.

North America Electric Vehicle Charging Stations Market Restraints

Lack of Standardization to Hinder Market Growth

  • Market expansion is anticipated to be hampered by the inadequate standardisation of charging infrastructure and the outdated power grid infrastructure.
  • In the forecast period, it is anticipated that the market for electric vehicle charging stations would face challenges due to the high initial cost of EVs compared to ICE vehicles and strict regulations for the installation of EV charging stations.

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North America Electric Vehicle (EV) Charging Stations Market Competitive Landscape

The report includes a competitive landscape based on a thorough examination of the key strategies employed by the market's leading players in the North America electric vehicle charging stations market. The presence of numerous local, regional, and global vendors characterises the global electric vehicle charging station market. The market for electric vehicle charging stations is highly competitive, with all players constantly competing for a larger market share.

North America Electric Vehicle Charging Stations Market Top Player's Company Profiles

  • Tesla, Inc.
  • ChargePoint, Inc.
  • Electrify America LLC
  • SemaConnect, Inc.
  • EVgo Services LLC
  • Blink Charging Co.
  • Greenlots (a member of the Shell Group)
  • Webasto Charging Systems, Inc.
  • Siemens AG
  • Leviton Manufacturing Co., Inc.
  • AeroVironment, Inc.
  • Delta Electronics, Inc.
  • Schneider Electric SE
  • ClipperCreek, Inc.
  • Enel X
  • eMotorWerks
  • Chargefox Pty Ltd
  • FLO | AddEnergie
  • Ionity GmbH
  • Electrify Canada

North America Electric Vehicle Charging Stations Market Recent Developments

  • EVBox increased its market share in the United States in August 2023 by launching the California Type Evaluation Program (CTEP). According to the specifications provided by the state of California, the certification attested to the EVBox Iqon charging stations' performance and design being appropriate for use in commercial settings. 
  • Eaton and Charge Enterprises, Inc. announced a strategic partnership in March 2023 to expedite the implementation of electric vehicle (EV) charging infrastructure for fleets and auto dealers through Charge Infrastructure, a portfolio company of Eaton. 
  • Tesla made an additional USD 770 million investment in the facility in January 2023 in order to expand it. Therefore, it is anticipated that these projects will propel the market and the manufacturing of battery-electric vehicles.

North America Electric Vehicle (EV) Charging Stations Key Market Trends

  • Top charging station manufacturers and network operators are increasing the availability of both private and public EV chargers. New safety measures were taken by the government and major industry players to advance production techniques. The correct audience was targeted by technological developments, which increased charging's sales rate. In the post-pandemic environment, the increased sales of electric vehicles are anticipated to further fuel market expansion.
  • Rapid urbanisation, a shift in lifestyle, an increase in investments, and higher consumer spending all have a beneficial effect on the market for electric vehicle charging stations.

North America Electric Vehicle (EV) Charging Stations Market SkyQuest Analysis

SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, Factors such as increased R&D in V2G technology, rising acceptance of electric mobility in emerging markets, and increased charging station deployment by retail MNCs provide significant growth opportunities for market players in the North America electric vehicle charging stations market. Emerging economies around the world, including India, have begun to prioritise investments in developing charging infrastructure to meet the ongoing demand for electric vehicles. Major market players' strategic initiatives are in their early stages and are concentrated in a few regions.

However, strategic initiatives are expected to increase over the forecast period. As a result, the impact of major players' strategic initiatives on the global electric vehicle charging station market is expected to rise from moderate to high during the forecast period.

Report Metric Details
Market size value in 2022 USD 1.89 billion
Market size value in 2031 USD 22.84 billion
Growth Rate 31.9%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • level 1, level 2 and level 3
  • Vehicle type
    • battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV)
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, Inc.
  • ChargePoint, Inc.
  • Electrify America LLC
  • SemaConnect, Inc.
  • EVgo Services LLC
  • Blink Charging Co.
  • Greenlots (a member of the Shell Group)
  • Webasto Charging Systems, Inc.
  • Siemens AG
  • Leviton Manufacturing Co., Inc.
  • AeroVironment, Inc.
  • Delta Electronics, Inc.
  • Schneider Electric SE
  • ClipperCreek, Inc.
  • Enel X
  • eMotorWerks
  • Chargefox Pty Ltd
  • FLO | AddEnergie
  • Ionity GmbH
  • Electrify Canada
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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 North America Electric Vehicle (EV) Charging Stations 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 North America Electric Vehicle (EV) Charging Stations 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 North America Electric Vehicle (EV) Charging Stations 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 North America Electric Vehicle (EV) Charging Stations 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 North America Electric Vehicle (EV) Charging Stations Market:

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

Regional Analysis: Further analysis of the North America Electric Vehicle (EV) Charging Stations 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

North America Electric Vehicle (EV) Charging Stations Market size was valued at USD 1.89 billion in 2022 and is poised to grow from USD 2.49 billion in 2023 to USD 22.84 billion by 2031, at a CAGR of 31.9% during the forecast period (2024-2031).

The report includes a competitive landscape based on a thorough examination of the key strategies employed by the market's leading players in the North America electric vehicle charging stations market. The presence of numerous local, regional, and global vendors characterises the global electric vehicle charging station market. The market for electric vehicle charging stations is highly competitive, with all players constantly competing for a larger market share. 'Tesla, Inc.', 'ChargePoint, Inc.', 'Electrify America LLC', 'SemaConnect, Inc.', 'EVgo Services LLC', 'Blink Charging Co.', 'Greenlots (a member of the Shell Group)', 'Webasto Charging Systems, Inc.', 'Siemens AG', 'Leviton Manufacturing Co., Inc.', 'AeroVironment, Inc.', 'Delta Electronics, Inc.', 'Schneider Electric SE', 'ClipperCreek, Inc.', 'Enel X', 'eMotorWerks', 'Chargefox Pty Ltd', 'FLO | AddEnergie', 'Ionity GmbH', 'Electrify Canada'

One of the key factors propelling the growth of the market for electric vehicle charging stations is the rise in the number of electric vehicle (EV) sales in the area. Due to growing environmental concern, customer preference is quickly shifting toward passenger and commercial electric vehicles (EV).

Top charging station manufacturers and network operators are increasing the availability of both private and public EV chargers. New safety measures were taken by the government and major industry players to advance production techniques. The correct audience was targeted by technological developments, which increased charging's sales rate. In the post-pandemic environment, the increased sales of electric vehicles are anticipated to further fuel market expansion.

According to estimates, the United States will account for the largest share of the North American electric vehicle charging station market in 2022. The country's large market share is primarily due to actions taken by local and state governments, as well as utility stakeholders, to reduce consumer barriers regarding policies, grants, and incentives for EVs and charging stations. During the forecast period, Canada is expected to have the fastest market growth rate in terms of value. The country's rapid market growth can be attributed to the government's and manufacturers' increasing efforts to develop electric vehicle charging infrastructure.

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