EV Charging Stations Market Size Worth USD 299.58 Billion by 2032 | Emergen Research

Increasing purchase of Electronic Vehicles (EV) and increasing government policies and funding for development of EV charging stations are key factors driving market revenue growth

Vancouver, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The global Electric Vehicle (EV) charging stations market size reached USD 21.40 Billion in 2022 and is expected to register a revenue CAGR of 30.3% during the forecast period, according to latest analysis by Emergen Research. Increasing purchase of electronic vehicles, government policies, and financing for expansion of electric vehicle charging stations are expected to support market revenue growth between 2022 and 2030. Demand for electric vehicle charging stations is continuously rising due to increased adoption of electric cars across the globe. Rising Carbon Dioxide (CO2) emissions and other hazardous pollutants due to petrol and diesel transportation led people to shift to electric vehicle, which is expected to drive revenue growth during the forecast period. In addition, rising adoption of green and renewable energy is also expected to boost electric vehicle charging stations market growth

However, high initial setup cost for electric vehicle charging stations is hampering market revenue growth. Initial cost for installing and setting up an EV charging station is high, especially for level 3 and other fast-charging stations. In addition, other expenses related to electricity, manpower, maintenance, permit taxes, and installation of electrical charging equipment are increasing overall expenses to set up an electric vehicle charging station, which is expected to hamper market revenue growth to some extent.

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Scope of Research

Report Details Outcome
The market size value in 2022 USD 21.40 Billion
CAGR (2023 - 2032) 30.3%
The revenue forecast in 2032 USD 299.58 Billion
Base year for estimation 2019
Forecast period 2023 - 2032
Quantitative units Volume in Tons, Revenue in USD Thousand, and CAGR from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Charging Infrastructure Type, Charging Level, Vehicle Type, Installation Type, Application, and Region.
Regional scope North America; Europe; Asia Pacific; Central & South America; MEA.
Country scope U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey.
Key companies profiled ABB Ltd., Chargepoint, Inc., Tesla Inc., EVGO Services LLC, BP Chargemaster, SemaConnect Network, EV Connect, Greenlots, Electrify America LLC., and OPConnect, Inc.
Customization scope 10 hrs of free customization and expert consultation

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MAJOR COMPANIES and Market Share Analysis
The market for Electric Vehicle Charging Stations is fairly consolidated, with few small as well as medium-sized manufacturers, which account for a major global share of the market. The manufacturers involved in the market are desegregated across the value chain. The key companies of the market are well-equipped with large manufacturing facilities and are also engaged in various research & development activities. Some of the prominent players in the Electric Vehicle Charging Stations industry include:

  • ABB Ltd.
  • Siemens AG
  • Schneider Electric
  • Delta Electronics, Inc
  • Chargepoint, Inc.
  • Tesla Inc.
  • EVGO Services LLC
  • Webasto Group
  • BP Chargemaster
  • SemaConnect Network
  • EV Connect
  • Greenlots
  • Electrify America LLC,
  • OPConnect, Inc

Strategic Development

In January 2020, Ryder System, Inc., In-Charge Energy, Inc., and ABB announced a first-of-its-kind partnership providing nationwide turnkey energy and electric vehicle (EV) charging infrastructure as a service to Ryder customers. 

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Key Highlights From The Report

  • CHAdeMO implements the CAN (Controller Area Network) communications system, the common vehicle communication standard, to initiate and control charging, hence is possibly compatible with the GB/T DC standardization in China but incompatible with the CCS charging systems without the use of special adaptors.
  • Level 1 refers to Single-Phase Alternating Current (AC) using grounded receptacles as used in domestic applications. Level 1 charging works from a single-phase AC power outlet and is appropriate for domestic and private installations, and these do not require any authentication and billing.
  • The portable charger is likely to witness a faster growth rate in the forecast period. Portable chargers allow electric vehicle drivers to carry the charger with them and charge the car whenever needed. Additionally, a portable charger removes the high-cost linked with a fixed stationary charging station.
  • In France, to encourage the growth of the market, public authorities have set ambitious targets for the deployment of an electric vehicle charging network with 50,000 charging points available to the public in 2020 and 100,000 in 2023. 24,800 charging points, on 1 January 2019, was distributed amongst 10,500 stations were available.

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For the purpose of this report, Emergen Research has segmented into the global Electric Vehicle Charging Stations Market on the basis of charging infrastructure type, charging level, vehicle type, installation type, application, and region:

    • Charging Level Outlook (Revenue, USD Billion; 2019–2032)
      • Level 1 Charger
      • Level 2 Charger
      • Level 3 Charger
    • Charging Mode Outlook (Revenue, USD Billion; 2019–2032)
      • Plug-in Charging
      • Wireless Charging
    • Connectivity Outlook (Revenue, USD Billion; 2019–2032)
      • Connected Charging Stations
      • Non-Connected Charging Stations
    • Charging Capacity Outlook (Revenue, USD Billion; 2019–2032)
      • Fast Chargers
      • Slow Chargers
    • Connector Type Outlook (Revenue, USD Billion; 2019–2032)
      • Combined Charging System (CCS)
      • Normal Charging
      • CHArge de MOve (CHAdeMO)
      • NACS connector
      • Others
    • Vehicle Type Outlook (Revenue, USD Billion; 2019–2032)
      • Plug-In Hybrid Electric Vehicle (PHEV)
      • Heavy Commercial Vehicles
      • Electric Bike
      • Electric Vehicle Passenger Cars
      • Light Commercial Vehicles
      • Others
    • Application Type Outlook (Revenue, USD Billion; 2019–2032)
      • Residential
        1. Apartments
        2. Private Houses
      • Commercial
        1. Destination Charging Stations
        2. Bus Charging Stations
        3. Fleet Charging Stations
        4. Highway Charging Stations
        5. Other Charging Stations
    • End-Use Outlook (Revenue, USD Billion; 2019–2032)
      • Individual
      • Commercial
      • Fleet Operators
      • Government and Municipalities
      • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
    • Europe
      1. Germany
      2. UK
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • MEA
      1. Saudi Arabia
      2. UAE
      3. Rest of MEA

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