Pune, India., July 12, 2023 (GLOBE NEWSWIRE) -- The global electric vehicle charging station market size was valued at USD 12 billion in 2022. The market is anticipated to expand from USD 16.43 billion in 2023 to USD 141.08 billion by 2030, exhibiting a CAGR of 36.0% over the study period. The rise is on account of the development of fast charging infrastructure across various regions. Fortune Business Insights™ provides this information in its research report, titled “Electric Vehicle Charging Station Market, 2023-2030”.
Major Companies Devise New Strategies to Strengthen Industry Foothold
Leading industry participants are keen on devising new strategies regarding the rollout of new products on the market. Several companies are investing in R&D activities for achieving the same. Besides, growing participation in trade conferences and a rise in collaborations and partnership agreements are some of the prominent initiatives undertaken by market players.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 36.0% |
| 2030 Value Projection | USD 141.08 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 16.43 Billion |
| Historical Data for | 2019-2022 |
| No. of Pages | 183 |
Market Drivers & Restraints-
Growing EV Sales to Propel Market Expansion
One of the key factors propelling electric vehicle charging station market growth is the increase in the sales of electric vehicles. The industry expansion is further propelled by the growing public environmental concerns and growing prices of fossil fuels. However, the industry expansion may be restrained by the high initial costs associated with the setup of EV charging stations.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/electric-vehicle-ev-charging-stations-market-102058
Segments-
Fast Segment to Gain Traction Due to Growing Demand for Quick Charging
On the basis of charger type, the market for electric vehicle charging stations is classified into slow/moderate and fast. The fast segment is anticipated to register appreciable growth over the study period. The upsurge is propelled by the escalating fast AC charger demand and increasing EV adoption.
Commercial Segment to Register Substantial Growth Owing to Rising Product Adoption in Long Journeys
Based on application, the market is segmented into residential and commercial. The commercial segment is expected to grow at a notable pace over the forecast period. The escalation is impelled by the growing charging infrastructure across various regions.
Based on geography, the market for electric vehicle charging stations is subdivided into North America, Asia Pacific, Europe, and the rest of the world.
| By Charger Type |
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| By Application |
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Regional Insights-
Asia Pacific to Lead Driven by Growing Use of EV Charging Stations
The Asia Pacific electric vehicle charging station market share is poised to dominate the global market, exhibiting an appreciable CAGR over the study period. The rise is further propelled by the growing product deployment in countries such as China.
The Europe market is touted to register lucrative growth throughout the estimated period. The expansion is on account of the presence of supportive infrastructure in the region.
Report Coverage:
The report offers an in-depth analysis of the vital trends touted to propel industry expansion over the forthcoming years. It further provides an account of the key factors impelling industry growth throughout the projected period. Other components of the report include an account of the major steps and initiatives undertaken by prominent companies for strengthening their industry footholds.
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A list of prominent Electric Vehicle Charging Station manufacturers operating in the global market:
- Siemens AG (Germany)
- Eaton (Ireland)
- ChargePoint Inc. (U.S.)
- ABB (Switzerland)
- Schneider Electric (France)
- EVBox (Netherlands)
- Webasto Group (Germany)
- Tesla (U.S.)
- Blink Charging Co. (U.S.)
- EO Charging (U.K.)
COVID-19 Impact:
Market Growth Propelled by Rising EV Adoption amid COVID-19 Pandemic
The COVID-19 pandemic led to an upsurge in the demand for electric vehicles. This was mainly on account of favourable government policies and financing for the acceleration of the EV industry. However, initially the market was slightly impacted due to difficulties in the procurement of raw materials and the unavailability of labour.
Notable Industry Development:
May 2023 – Blink Charging Co. rolled out a new battery storage unit that would be integrated with four Blink EV chargers at Philadelphia’s Southport Plaza. The new battery energy storage system stores energy onsite, delivering that power to EV drivers as required.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trend
- Key Insights
- Mergers, Acquisitions and Partnerships
- EV Charging Station Distributor Chain
- Growth & Penetration Analysis
- Porters Five Forces Analysis
- PEST Analysis
- Technological Development
- Impact of Covid-19
- Global Electric Vehicle Charging Station Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Charger Type
- Fast
- Slow/Moderate
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Residential
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the world
- North America Electric Vehicle Charging Station Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Charger Type
- Fast
- Slow/Moderate
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Residential
- Market Analysis – By Country
- The U.S.
- By Charger Type
- Canada
- By Charger Type
- Mexico
- By Charger Type
- The U.S.
- Market Analysis, Insights and Forecast – By Charger Type
- Europe Electric Vehicle Charging Station Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Charger Type
- Fast
- Slow/Moderate
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Residential
- Market Analysis – By Country
- UK
- By Charger Type
- Germany
- By Charger Type
- France
- By Charger Type
- Rest of Europe
- By Charger Type
- UK
- Market Analysis, Insights and Forecast – By Charger Type
- Asia Pacific Electric Vehicle Charging Station Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Charger Type
- Fast
- Slow/Moderate
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Residential
- Market Analysis – By Country
- China
- By Charger Type
- Japan
- By Charger Type
- India
- By Charger Type
- South Korea
- By Charger Type
- Rest of Asia Pacific
- By Charger Type
- China
- Market Analysis, Insights and Forecast – By Charger Type
- Rest of the World Electric Vehicle Charging Station Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Charger Type
- Fast
- Slow/Moderate
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Residential
- Market Analysis, Insights and Forecast – By Charger Type
- Competitive Analysis
- Key Industry Development
- Global Market Share Analysis (2022)
- Competition Dashboard
- Comparative Analysis – Major Players
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- Siemens AG (Germany)
- Eaton (Ireland)
- ChargePoint Inc. (U.S.)
- ABB (Switzerland)
- Schneider Electric (France)
- EVBox (Netherlands)
- Webasto Group (Germany)
- Tesla (U.S.)
- Blink Charging Co. (U.S.)
- EO Charging (UK)
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