Electric Vehicle Charging Station Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Electric Vehicle Charging Station Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A4827
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Market Overview:

The global electric vehicle charging station market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.3 Billion by 2028, exhibiting a growth rate (CAGR) of 36.1% during 2023-2028.

An electric vehicle (EV) charging station supplies power to electric vehicles (EVs). It comprises an energy controller, facility meter, power grid, charger, lithium-ion batteries, network operating center, and software platform. It allows charging of varying levels that differ according to the types of connectors, battery size, charging speed, and installation cost. Besides this, it provides accurate readings of vehicle emission levels and aids in reducing overall maintenance costs. As a result, the EV charging station is widely installed across government facilities and public places like retail shopping centers and parking areas.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Electric Vehicle Charging Station Market Trends:

At present, increasing sales of passenger and commercial vehicles across the globe on account of the growing population represents one of the key factors positively influencing the market. In addition, the rising awareness among individuals about the adverse impacts of harmful emissions from vehicles with gasoline engines is contributing to the market growth. Furthermore, governments of various countries are undertaking initiatives for developing standards, which include minimizing pollution by promoting the use of EVs, and continuous investment in building EV charging stations. This, coupled with the rising focus of leading players towards the development of charging stations across geographically extended locations, is creating a positive outlook for the market. Moreover, the integration of the internet of things (IoT) and real-time information solutions into electric vehicle charging stations are strengthening the market growth. These technologies provide real-time data about the availability of vacant spots and assist drivers in locating nearby charging stations.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global electric vehicle charging station market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on charging station type, vehicle type, installation type, charging level, connector type and application.

Breakup by Charging Station Type:

 

 
 

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  • AC Charging
  • DC Charging
  • Inductive Charging
     

AC charging stations represent the largest market segment on account of their ease of installation and lower operational and maintenance costs.

Breakup by Vehicle Type:

  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Hybrid Electric Vehicle (HEV)
     

Battery electric vehicles (BEVs) account for the majority of the market share as they are not equipped with gasoline engines and operate only on stored electricity.

Breakup by Installation Type:

  • Portable Charger
  • Fixed Charger
     

Fixed chargers are mostly installed at EV charging stations as they are highly reliable and provide maximum battery life.

Breakup by Charging Level:

  • Level 1
  • Level 2
  • Level 3
     

Level 2 charging stations hold the majority of the market share as they are equipped with a specialized cord that makes them compatible with EVs.

Breakup by Connector Type:

  • Combines Charging Station (CCS)
  • CHAdeMO
  • Normal Charging
  • Tesla Supercharger
  • Type-2 (IEC 621196)
  • Others
     

CHAdeMO currently dominates the market due to its convenient handling and compatibility with a majority of EVs.

Breakup by Application:

  • Residential
  • Commercial
     

The commercial sector accounts for the majority of the market share due to continuous financing by governments of various countries to develop public charging stations at commercial complexes.

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

The Asia Pacific exhibits a clear dominance in the market due to the increasing sales of EVs in the region to minimize the harmful emissions from conventional vehicles.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Blink Charging Co., BP plc, ChargePoint Inc., Daimler AG, Eaton Corporation PLC, EFACEC Power Solutions SGPS S.A., Engie SA, EVgo Services LLC (LS Power Development LLC), Renault Group, Schneider Electric SE, SemaConnect, Siemens AG, Tata Power Company Limited and Tesla Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Charging Station Type, Vehicle Type, Installation Type, Charging Level, Connector Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., Blink Charging Co., BP plc, ChargePoint Inc., Daimler AG, Eaton Corporation PLC, EFACEC Power Solutions SGPS S.A., Engie SA, EVgo Services LLC (LS Power Development LLC), Renault Group, Schneider Electric SE, SemaConnect, Siemens AG, Tata Power Company Limited and Tesla Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Electric Vehicle Charging Station Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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