Electric Vehicle Charging Stations Market by Charging Point Type (AC Charging/Normal Charging, DC Charging/Super Charging, Inductive Charging); by Vehicle Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV)); by Installation Type (Home, Commercial); by Technology (Level 1, Level 2, Level 3); Charger Type (Portable Charger, Fixed Charger); and by Region (North America, Europe, Asia Pacific, Latin America, MEA); - Global Forecasts 2021 to 2027

Date : Oct 2021

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Report ID : 783

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Category : Automotives & Transportation

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Report Format:  PDF EXCEL PPT WORD

The Global Electric Vehicle Charging Stations Market was valued at USD 5.1 Bn in 2020 and is expected to reach USD 59.9 Bn by 2027, with a growing CAGR of 42.2% during the forecast period.

Global Electric Vehicle Charging Stations Market Overview:

An Electric Vehicle Charging Stations (EVCS) is also known as Electric Vehicle Supply Equipment (EVSE). The electric vehicle charging stations is equipment that connects an electric vehicle to a source of electricity to recharge electric cars and plug-in hybrid vehicles. These are provided in the municipal parking locations by electric utility companies or at retail shopping centres by private companies.

Electric Vehicle Charging Stations Market

Global Electric Vehicle Charging Stations Market Dynamics:

The growing adoption of electric vehicles across the globe is one of the significant factors to propel the electric vehicle charging stations market growth. The government is providing EV manufacturers with subsidies, rebates, tax exemptions, and fixed quotas. Government subsidies for electric vehicles purchase are an important factor influencing consumer buying decisions. These factors promote EV sales and production across the globe. For instance, according to the report of the International Energy Agency (IEA) published in 2021, governments across the globe spent USD 14 Bn to support electric car sales. 

In addition, the increasing government funding to develop charging station infrastructure drives the growth of the electric vehicle charging stations industry throughout the forecast period. For instance, President of the United States Joe Biden announced USD 7.5 Bn for an EV charging infrastructure network. Moreover, rising concerns associated with carbon emission is the major factor influencing the demand for electric vehicles, which in turn, influence the demand for electric vehicle charging stations market.

The Global Electric Vehicle Charging Stations Market Segmentation:

By Charging Point Type

  • AC Charging/Normal Charging
  • DC Charging/Super Charging
  • Inductive Charging

By Vehicle Type

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

By Installation Type

  • Home
  • Commercial

By Technology

  • Level 1
  • Level 2
  • Level 3

By Charger Type

  • Portable Charger
  • Fixed Charger

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Electric Vehicle Charging Stations Market Company Profiles and Competitive Intelligence:

  • ABB
  • ChargePoint, Inc.
  • bp pulse
  • Webasto Thermo & Comfort
  • Schneider Electric
  • Shell International B.V.
  • Blink Charging Co.
  • Phihong USA Corp.
  • Renault
  • EV Safe Charge Inc.
  • Eaton
  • Tata Power
  • SemaConnect, Inc.
  • Tesla
  • Daimler AG
  • Siemens
  • EVgo Services LLC
  • ENGIE EV SOLUTIONS LIMITED
  • ClipperCreek, Inc.
  • TotalEnergies

Based on the charging point type, the DC charging/super charging is the fastest-growing segment during the forecast period due to the lower charging time

Based on the charging point type, the electric vehicle charging stations market has been segmented into AC charging/normal charging, DC charging/super charging, and inductive charging. The DC charging/super charging in the electric vehicle charging stations industry is the fastest-growing segment during the forecast period owing to the lower charging time. Super charging has a lower charging time as compared to normal charging and can charge EVs within 30 minutes. 

Based on the technology, the level 3 segment is growing at the highest CAGR during the forecast period owing to the highest power output

Based on the technology, the global electric vehicle charging stations market has been segmented into level 1, level 2, and level 3. The level 3 segment in electric vehicle charging stations market is growing at the highest CAGR during the forecast period. The growth in the segment is attributed to the highest power output and provide the most charge in the least amount of time.

Based on region, the Asia Pacific is accounted to hold the largest market share of over 80% in 2019 and is expected to show its dominance during the forecast period owing to advanced electrification technology and the government initiatives in the region

Based on region, the global electric vehicle charging stations market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific held the largest market share of over 80% in 2019 and is expected to show its dominance during the forecast period. The growth in the region is mainly attributed to the advanced electrification technology and the government initiatives in the region. For instance, according to secondary sources, China is expected to invest USD 1.2 billion for the enlargement of the charging infrastructures. Moreover, Tesla plans to install 400 additional superchargers in the country in the coming years, nearly doubling its current number.

The report also provides an in-depth analysis of electric vehicle charging stations market dynamics such as drivers, restraints, opportunities, and challenges:

Drivers

  • Low charging cost
  • Growing demand for electric vehicles
  • Strategic initiatives by major players
  • Government regulations and tax exemptions
  • Increasing concerns associated with the carbon emission

Restraints

  • The high initial cost for fast charging
  • Increasing demand for CNG and LPG vehicles

Opportunities

  • Supportive government initiatives
  • Rapid implementation of the constantly changing technologies

Challenges

  • Charging time and plug type
  • Uncertainty in electricity costs and requirement of space

COVID-19 Impact on the Electric Vehicle Charging Stations Market Analysis:

The COVID-19 pandemic has significantly impacted many lives and businesses across the globe which result in the slowdown of economies. The slowdown of the economy happened due to the strict lockdown imposed by the government to limit the spread of the COVID-19 virus. The electric vehicle charging stations market was negatively impacted through the COVID-19 pandemic. The manufacturing plant and the supply chain of the EV charging stations equipment were disrupted due to the lockdown. For instance, according to secondary sources, there has been around a 12% decline in the revenue generated by EV charging stations solution providers in 2020. However, with the gradual reopening of the economy the electric vehicle charging stations market gaining traction due to the supportive government initiatives.

*Note: A detailed analysis is specific to electric vehicle charging stations market will be provided in the report

The report also provides an in-depth analysis of key trends in the electric vehicle charging stations market:

  • Energy-saving and greener environment
  • The emergence of smart grids, IoT, 5G communications, remote control, cloud computing, big data, artificial intelligence, and IoV enable the intensive operation and smart travel. The charging infrastructure is digitalized and has become more intelligent in terms of charging experience, O&M, and network collaboration. It enables a secure and fast charging experience, unattended and remote O&M, intelligent and efficient charging facilities

The report also provides an in-depth analysis of recent news developments and investments:

  • In August 2021, ChargePoint Holdings, Inc., a leading Electric Vehicle (EV) charging network operating in North America and Europe, acquired ViriCiti, the leading provider of electrification solutions for eBus and commercial fleets. Through this acquisition, ViriCiti will enhance the ChargePoint fleet solution portfolio of hardware, software, and services through integrating information sources to optimize electric fleet operations, such as battery management, charging station monitoring, OEM-agnostic telematics, vehicle maintenance, and automobile operations data.
  • In May 2021, Blink Charging Co., a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, acquired the European EV charging operator Blue Corner N.V., based in Antwerp, Belgium, and its portfolio of 7,071 charging ports and a strong European charging network. The acquisition is a part of Blink’s broader strategic global expansion plans and offers the Company a massive infrastructure footprint in the region.

The unique insights provided by this report also include the following:

  • In-depth Value Chain Analysis
  • Opportunity Mapping
  • Sector Snapshot
  • Key Players Positioning Matrix
  • Regulatory Scenario
  • Strategies Adopted-benchmarking Heat Map
  • Market Trends
  • Covid-19 Impact Analysis
  • Product Comparison
  • Pre & Post COVID-19 Impact on the Electric Vehicle Charging Stations Market
  • Competitive Landscape

Frequently Asked Questions (FAQs)

What is the market size of the global electric vehicle charging stations?

The global electric vehicle charging stations market was valued at USD 5.1 Billion in 2020 and is anticipated to reach USD 59.9 Billion by 2027.

What is the estimated market growth rate of the electric vehicle charging stations market growth?

The electric vehicle charging stations market is estimated to grow at a compound annual growth rate (CAGR) of 42.2% during the forecast period.

What is the share of Asia Pacific in the electric vehicle charging stations industry?

The Asia Pacific is projected to hold the largest market share during the forecast period.

Who are the Prominent players in the electric vehicle charging stations market?

A few key players include, but are not limited to ABB, ChargePoint, Inc., bp pulse, Webasto Thermo & Comfort, Schneider Electric, Shell International B.V., Blink Charging Co., Phihong USA Corp., Renault, and EV Safe Charge Inc.

What are the restraints for the electric vehicle charging stations market?

The high initial cost for fast chargers is the major restraining factor that hampers the growth of the market.

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Table of Contents Electric Vehicle Charging Stations Market:

Market Introduction

  • Definition
  • Scope Of The Study
  • List Of Assumptions
  • Market Structure
  • Scope of the Study: Segmentation 
  • Timeframe, Currency and Limitations

Research Methodology

  • 3P Research Approach
  • Market Sizing Approach
  • Data Sources
  • Primary Research Coverage

Executive Summary

  • Market Summary
  • Market Snapshot
  • Regional Snapshot
  • Country Snapshot

Premium Insights

  • Key Trend Analysis
  • New revenue Pockets
  • Pain Point Analysis
  • Company Market Share Analysis, by Region
  • Strategies Adopted-Benchmarking Heat Map
  • Regulatory Landscape
  • PESTEL Analysis
  • Regional Lifecycle
  • Competitive Benchmarking

Market Overview & Competitive Landscape

  • Competitive Landscape
  • Investment Scenario by key Players
  • Key Player Overview
  • Product comparison
  • Player Wise Geographic Presence
  • Player Wise Target Customer Segment
  • Recent News
    • Product Launches & upgrades
    • R&D / Innovation
    • Merger & Acquisition
    • JV & Partnership
    • Recognition and others

Market Segmentation (Market Size and Share Analysis)

  • Global Market Size & Historic Growth
  • Market Size by Charging Point Type
    • AC Charging/Normal Charging
    • DC Charging/Super Charging
    • Inductive Charging
  • Market Size by Vehicle Type
    • Battery Electric Vehicle (BEV)
    • Plug-in Hybrid Electric Vehicle (PHEV)
  • Market Size by Installation Type
    • Home
    • Commercial
  • Market Size by Technology
    • Level 1
    • Level 2
    • Level 3
  • Market Size by Charger Type
    • Portable Charger
    • Fixed Charger

Market Dynamics

  • Market Drivers
  • Opportunities
  • Value Chain Analysis
  • Pricing Analysis

COVID – 19 Opportunity Mapping

  • Key Drivers & Anticipated Revival Period
  • Key Trends Analysis
  • Impact on End user Industry
  • Opportunity Analysis

Regional Market Analysis

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Rest of LATAM
  • Middle East & Africa
    • GCC
    • Rest of MEA

Company Profiles

  • ABB
    • Company Fundamentals
    • Financial Analysis (Subject to Availability)
    • Product Portfolio
    • SWOT Analysis
  • ChargePoint, Inc.
  • bp pulse
  • Webasto Thermo & Comfort
  • Schneider Electric
  • Shell International B.V.
  • Blink Charging Co.
  • Phihong USA Corp.
  • Renault
  • EV Safe Charge Inc.
  • Eaton
  • Tata Power
  • SemaConnect, Inc.
  • Tesla
  • Daimler AG
  • Siemens
  • EVgo Services LLC
  • ENGIE EV SOLUTIONS LIMITED
  • ClipperCreek, Inc.
  • TotalEnergies

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