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Electric Vehicle Charging Station Market - Forecast(2024 - 2030)
Electric Vehicle Charging Station Market Overview
The Electric Vehicle Charging Station Market is forecast to reach $5.6 billion by 2026, growing at a CAGR of 5.0% from 2021 to 2026. EV charging services consist of electric vehicle charging station to recharge the electric vehicles. The rising demand for electric vehicles is significantly boosting the demand for EV charging services. The significant implementation of the stringent emission norms globally is set to boost the demand for electric vehicles, thereby contributing to the Electric Vehicle Charging Station Market. The need for smart connectivity in passenger vehicles, especially among electric vehicles is boosting the demand for electric vehicle supply equipment including for EV charging stations.
Report Coverage
The report: “Electric Vehicle Charging Station Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Electric Vehicle Charging Station market.
By Charging Station: AC Charging Station, DC Charging Station, Inductive Charging Station.
By Connector Type: CHAdeMO, CCD and Others.
By Location: Residential and Commercial.
By Vehicle Type: PHEV, BEV.
By Charging Level: Level 1, Level 2, Level 3.
By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), South America(Brazil, Argentina and others), and RoW (Middle East and Africa).
Key Takeaways
- Commercial type are analysed to grow a highest rate during the forecast period 2021-2026 owing to the high investments in the installation of the public EV charging stations.
- APAC is analysed to dominate the market owing to the growing investments in R&D of the Electric Vehicle Charging Station alongside the growing adoption of the Electric vehicles.
- The rising sales of the electric vehicles is set to be a key driving factor for the EV Charging station market.Electric Vehicle Charging Station Market, By Installation Type, 2020
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Electric Vehicle Charging Station Market Segment Analysis - By Installation Type
Commercial is analysed to hold highest share in 2020 with 76.1% and is set to grow at highest rate during the forecast period 2021-2026 majorly attributed to the growing public EV charging stations. The government of India announced to increase the Electric Vehicle usage to 30% by 2030, hence the exponentially growing charging infrastructure across the country is set to contribute to the market. Indian government announced the initiatives such as developing a national EV policy, the FAME II scheme, which includes a subsidy for setting up of 2,636 public electric vehicle charging stations across the country.
EV Charging Station Market Segment Analysis - By Vehicle Type
The EV Charging Station Market is segmented into Plug-in hybrid electric vehicles (PHEV), Battery electric vehicles (BEV) by vehicle type. The BEV segment is expected to witness the highest growth of around 8.6% during the forecast period 2021 – 2026. Leading automotive companies such as Tesla, BMW, and Nissan are now offering wireless charging in BEV models such as Tesla Model S, BMW i3, and Nissan Leaf, thereby driving the demand for wireless EV charging market. OEMs are focused on BEVs for curbing rising pollution due to strict government regulations. Increasing sales of BEV and funding from government is expected to drive the overall demand.
Electric Vehicle Charging Station Market Segment Analysis - By Geography
APAC is the fastest growing market in 2020 at 8.1% CAGR. The large growth is majorly attributed to the presence of large production bases in China and India and improving governmental subsidies. In 2019, the Government of India announced its plan to provide subsidies to set up 5,000 electric charging stations in cities and highways of India. The main aim of the subsidy program is promoting India’s plan to shift 40% fleet to battery operated vehicles. In January 2020, EESL and BHEL announced partnership to build the EV charging station all over India. The development of plug-in vehicles in France is seen as a symbolic step towards achieving national goals in the direction of more environmentally friendly transport. An investment plan to support public infrastructure was also announced by the Government.
Electric Vehicle Charging Station Market Drivers
Increasing sales of the Electric Vehicles
The development of electric vehicle charging stations for electric vehicles has gained significant momentum over the past decade. Adoption of charging station services for electric vehicles help in reducing the pollution in large population centers, increase customer loyalty, and attract new customers, thereby driving the market growth. According to International Energy Agency (IEA), the number of battery electric vehicles have been increased from 1.19 million units to 3.29 million units during 2016-2018 period at global level. Growing adoption of EV charging stations with increasing usage of electric vehicles set to fuel the market growth.
Rise in number of convenience charging stations in both developed and developing economies
The rapidly evolving electric vehicle (EV) market is driving innovation in EV technology and associated infrastructure. Electric vehicles offer multiple advantages such as reduced fuel consumption and decreased emissions from tailpipes, which significantly boost their demand across the globe. This in turn is expected to escalate the need for charging stations for electric vehicles, thereby driving the market growth. Charging stations are being rapidly developed as a part of government initiative programs and EV manufacturers are being involved in the development of charging spots in the parking locations. EV manufacturers are focusing on the establishment of charging stations for electric cars to enhance the sales of electric vehicles.
Electric Vehicle Charging Station Market Challenges
Infrastructure Limitations for Charging Stations
High cost and infrastructure limitation is the major hurdle that hampers the electric vehicle charging infrastructure market growth. The cost of establishing charging infrastructure is quite high. This hampers the market growth. Charging cars require fixed space and an individual for maintenance the charger and space. This cost becomes the major issue as it makes the station finance unviable. The government of various countries has imposed certain restrictions on the per unit price that can be charged to the customer. This has been hampering the condition for charger owners.
Electric Vehicle Charging Station Market Landscape
Acquisitions, partnerships and R&D activities are key strategies adopted by players in the EV Charging Station market. EV Charging Station market is expected to be dominated by major companies such as Aerovironment, Blink Charging Co., Chargepoint Inc., Chargemaster PLC., Delphi Automotive plc., Mojo Mobility Inc., among others.
Acquisitions/Technology Launches/Partnerships
- In January 2019, Enel X installed and activated the first charging station on the Italian motorway network at Q8 Rho Sud service area. After the Enel X and Q8 agreement has been signed, drivers can travel with their electric cars between Turin and Milan without having to exit the motorway to recharge their vehicles.
- In May 2019, Panasonic announced the launch of smart EV charging service in India providing charging stations, swap stations, board charges and so on.
Related Report
Report Code: AM 90637
1. Electric Vehicle Charging Station Market Overview
1.1 Definitions and Scope
2. Electric Vehicle Charging Station Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By Charging Station
2.3 Key trends By Location
2.4 Key trends segmented by Geography
3. Electric Vehicle Charging Station Market – Market Landscape
3.1 Comparative Analysis
3.1.1 Product/Company Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Electric Vehicle Charging Station Market – Industry Market Entry Scenario Premium (Premium)
4.1 Regulatory Scenario
4.2 Ease of Doing Business Index
4.3 Case Studies
4.4 Customer Analysis
5. Electric Vehicle Charging Station Market – Startup Company Scenario (Premium)
5.1 Venture Capital and Funding Scenario
5.2 Startup Company Analysis
6. Electric Vehicle Charging Station Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Electric Vehicle Charging Station Market – By Strategic Analysis (Market Size -$Million/Billion)
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle/Market Life Cycle Analysis
8. Electric Vehicle Charging Station Market – By Charging Station (Market Size -$Million/Billion)
8.1 AC Charging Station
8.2 DC Charging Station
8.3 Inductive Charging Station
9. Electric Vehicle Charging Station Market – By Location (Market Size -$Million/Billion)
9.1 Residential
9.2 Commercial
10. Electric Vehicle Charging Station Market – By Connector Type (Market Size -$Million/Billion)
10.1 ChAdemo
10.2 CCD
10.3 Others
11. Electric Vehicle Charging Station Market – By Vehicle Type (Market Size -$Million/Billion)
11.1 BEV
11.2 PHEV
12. Electric Vehicle Charging Station Market – By Charging Level (Market Size -$Million/Billion)
12.1 Level 1
12.2 Level 2
12.3 Level 3
13. Electric Vehicle Charging Station Market - By Geography (Market Size -$Million/Billion)
13.1 North America
13.1.1 U.S
13.1.2 Canada
13.1.3 Mexico
13.2 South America
13.2.1 Brazil
13.2.2 Argentina
13.2.3 Chile
13.2.4 Colombia
13.2.5 Others
13.3 Europe
13.3.1 Germany
13.3.2 France
13.3.3 UK
13.3.4 Italy
13.3.5 Spain
13.3.6 Russia
13.3.7 Netherlands
13.3.8 Others
13.4 APAC
13.4.1 China
13.4.2 Japan
13.4.3 South Korea
13.4.4 India
13.4.5 Australia
13.4.6 Indonesia
13.4.7 Malaysia
13.4.8 Others
13.5 RoW
13.5.1 Middle East
13.5.2 Africa
14. Electric Vehicle Charging Station Market - Market Entropy
14.1 New product launches
14.2 M&A's, collaborations, JVs and partnerships
15. Electric Vehicle Charging Station Market – Industry Competitive Landscape (Premium)
15.1 Market Share – Global
15.2 Market Share by Region
15.3 Market Share By Charging Station
15.4 Market Share By Location
16. Electric Vehicle Charging Station Market – Key Company List by Country Premium (Premium)
17. Electric Vehicle Charging Station Market - Company Analysis
17.1 Company 1
17.2 Company 2
17.3 Company 3
17.4 Company 4
17.5 Company 5
17.6 Company 6
17.7 Company 7
17.8 Company 8
17.9 Company 9
17.10 Company 10
LIST OF TABLES
1.Global EV Market Analysis By Vehicle Type Market 2019-2024 ($M)1.1 Battery Electric Vehicle Market 2019-2024 ($M) - Global Industry Research
1.2 PlugIn Hybrid Vehicle Market 2019-2024 ($M) - Global Industry Research
1.2.1 Series PHEV Market 2019-2024 ($M)
1.2.2 Parallel PHEV Market 2019-2024 ($M)
2.Global EVCS Market Analysis By Installation Type Market 2019-2024 ($M)
2.1 Residential Market 2019-2024 ($M) - Global Industry Research
2.2 Commercial Market 2019-2024 ($M) - Global Industry Research
3.Global EV Market Analysis By Vehicle Type Market 2019-2024 (Volume/Units)
3.1 Battery Electric Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 PlugIn Hybrid Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
3.2.1 Series PHEV Market 2019-2024 (Volume/Units)
3.2.2 Parallel PHEV Market 2019-2024 (Volume/Units)
4.Global EVCS Market Analysis By Installation Type Market 2019-2024 (Volume/Units)
4.1 Residential Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Commercial Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America EV Market Analysis By Vehicle Type Market 2019-2024 ($M)
5.1 Battery Electric Vehicle Market 2019-2024 ($M) - Regional Industry Research
5.2 PlugIn Hybrid Vehicle Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Series PHEV Market 2019-2024 ($M)
5.2.2 Parallel PHEV Market 2019-2024 ($M)
6.North America EVCS Market Analysis By Installation Type Market 2019-2024 ($M)
6.1 Residential Market 2019-2024 ($M) - Regional Industry Research
6.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
7.South America EV Market Analysis By Vehicle Type Market 2019-2024 ($M)
7.1 Battery Electric Vehicle Market 2019-2024 ($M) - Regional Industry Research
7.2 PlugIn Hybrid Vehicle Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Series PHEV Market 2019-2024 ($M)
7.2.2 Parallel PHEV Market 2019-2024 ($M)
8.South America EVCS Market Analysis By Installation Type Market 2019-2024 ($M)
8.1 Residential Market 2019-2024 ($M) - Regional Industry Research
8.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
9.Europe EV Market Analysis By Vehicle Type Market 2019-2024 ($M)
9.1 Battery Electric Vehicle Market 2019-2024 ($M) - Regional Industry Research
9.2 PlugIn Hybrid Vehicle Market 2019-2024 ($M) - Regional Industry Research
9.2.1 Series PHEV Market 2019-2024 ($M)
9.2.2 Parallel PHEV Market 2019-2024 ($M)
10.Europe EVCS Market Analysis By Installation Type Market 2019-2024 ($M)
10.1 Residential Market 2019-2024 ($M) - Regional Industry Research
10.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
11.APAC EV Market Analysis By Vehicle Type Market 2019-2024 ($M)
11.1 Battery Electric Vehicle Market 2019-2024 ($M) - Regional Industry Research
11.2 PlugIn Hybrid Vehicle Market 2019-2024 ($M) - Regional Industry Research
11.2.1 Series PHEV Market 2019-2024 ($M)
11.2.2 Parallel PHEV Market 2019-2024 ($M)
12.APAC EVCS Market Analysis By Installation Type Market 2019-2024 ($M)
12.1 Residential Market 2019-2024 ($M) - Regional Industry Research
12.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
13.MENA EV Market Analysis By Vehicle Type Market 2019-2024 ($M)
13.1 Battery Electric Vehicle Market 2019-2024 ($M) - Regional Industry Research
13.2 PlugIn Hybrid Vehicle Market 2019-2024 ($M) - Regional Industry Research
13.2.1 Series PHEV Market 2019-2024 ($M)
13.2.2 Parallel PHEV Market 2019-2024 ($M)
14.MENA EVCS Market Analysis By Installation Type Market 2019-2024 ($M)
14.1 Residential Market 2019-2024 ($M) - Regional Industry Research
14.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)2.Canada Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
3.Mexico Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
4.Brazil Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
5.Argentina Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
6.Peru Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
7.Colombia Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
8.Chile Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
9.Rest of South America Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
10.UK Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
11.Germany Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
12.France Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
13.Italy Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
14.Spain Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
15.Rest of Europe Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
16.China Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
17.India Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
18.Japan Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
19.South Korea Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
20.South Africa Electric Vehicle Charging Stations Market Revenue, 2019-2024 ($M)
21.North America Electric Vehicle Charging Stations By Application
22.South America Electric Vehicle Charging Stations By Application
23.Europe Electric Vehicle Charging Stations By Application
24.APAC Electric Vehicle Charging Stations By Application
25.MENA Electric Vehicle Charging Stations By Application
26.Key Players, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Key Innovators, Sales /Revenue, 2015-2018 ($Mn/$Bn)