Report Overview

The Electric Vehicle Charging Infrastructure Market size is expected to be worth around USD 182113.57 million by 2032 from USD 18,460 million in 2022, growing at a CAGR of 25.60% during the forecast period 2023 to 2032.

It is imperative to adopt electric cars due to rising carbon emissions and other harmful gasses resulting from transportation. The growth factors for electric vehicle (EV) charging infrastructure are increasing in both residential and commercial applications. Market growth key factors will also be driven by the increasing number of partnerships between car manufacturers to provide charging infrastructures through a subscription model.

Global Electric Vehicle Charging Infrastructure Market Scope:

Charger Type analysis

Fast chargers dominated the market sales, accounting for over 89.0% of global revenue in 2021. This is due to increasing demand for their deployment in commercial stations. Many organizations have installed Level 1 DC fast chargers and Level 2 AC charging stations, which can fully charge an electric vehicle in as little as 4-6 hours.

Automotive manufacturers also emphasize the installation of electric vehicle charging stations for their employees in an effort to increase awareness about electric cars. The installation of 100 Level-2 EV charging stations in the parking lot of General Motors Company’s Detroit plant has resulted in an increase in demand from employees for Chevrolet Volts electric vehicles.

In 2021, the slow charger segment held a large share of the market sales. This was due to various government initiatives for speeding up the adoption of the deployment of public charging infrastructure market size. Slow chargers are mainly used in residential applications for overnight charging.

The segment is also growing because most electric vehicle manufacturers, such as Volkswagen Group, BMW of America, and General Motors, offer slow chargers with electric vehicle purchases. General Motors, for example, provides a slow charger when you purchase an electric car model.

Connector analysis

The CHAdeMO segment dominated this market demand and accounted for 40% of the global revenue share in 2021. This is mainly due to the compatibility of the CHAdeMO with a majority of electric vehicles (including BMW and GM among others) and the ease of handling.

Additionally, it allows you to design electric vehicles with greater flexibility since it only requires one port to charge. CHAdeMO connectors have two ports for charging, but they can only support AC charging. The Japan Electric Vehicle Standard has specified the CHAdeMO connectors as being capable of delivering 62.5 kW DC.

CCS is predicted to grow at the highest CAGR during the forecast period. This is due to major automotive manufacturers’ increased preference for CCS connectors in their vehicles. Tesla, for example, announced in July 2019 that it would be introducing a CCS connector to work with Model 3. It is expected that the connector will also work with Model S and Model X in Europe in the near future.

CCS connectors come in two versions, typically denoted CCS Type 1 and CCS Type 2, respectively. The CCS Type 1 connectors can be found in large numbers in the United States, while CCS type 2 connectors are used in Europe. The support of major factors of OEMs and automakers, such as Daimler AG and Ford Motor Company, General Motor Company, and Volkswagen Group, will drive demand for the CCS segment during the forecast period

Application analysis

Due to the funding allocations by the governments and the automobile manufacturers, the commercial segment accounted for 79% of the revenue in 2021. It is essential to develop supporting infrastructure in public places as overnight charging at home or charging at home would not suffice for long-distance travel.

Many public transport agencies have partnered with auto manufacturers to install charging stations for electric buses. This is further fueling the growth. TRAFIKSELSKABET MoviA, for instance, has signed an agreement to install electric bus charging stations equipped with a top-down pantograph. This will be used by 45 municipalities including Region Zealand and the City of Copenhagen.

Efacec, EVE Australia Pty Ltd., and Tesla, Inc. are all partnering with contractors who are building residential complexes. Pend Oreille Public Utility District, for instance, announced in October 2020 the launch of a pilot system for EV charging with SemaConnect Inc. The charging station will allow visitors to the Newport Administration Building of PUD to charge their electric vehicles for free.

To ensure greater vehicle range and availability, manufacturers of vehicle chargers are concentrating on commercial and residential EV chargers. OEMs collaborate with EV manufacturers and charging network operators to install fast-charging stations. This will allow them to expand their geographic presence and enable the deployment of an efficient EV charging network.

Кеу Маrkеt Ѕеgmеntѕ

By Charger Type

• Slow Charger
• Fast Charger

By Connector

• CHAdeMO
• Combined Charging System (CCS)
• Others

By Application

• Commercial
• Residential

Market Dynamics:

Both the technological advancements in electric vehicle charging software as well as hardware are expected to revolutionize how EV owners can use and benefit from electric vehicle charging applications. Smart charging car API and charging networks accurately determine the charge time of an electric vehicle before the driver plugs it into a station.

Green energy will play an important role in public and private electric vehicle charging stations. Carbon emissions are a major concern for EV owners. Companies are rapidly improving the charging technology of electric vehicle charger networks to address these concerns. Many countries, including Canada, India, Canada, and the Netherlands have launched campaigns to encourage the adoption of electric cars. Due to the COVID-19 epidemic, the global automotive industry will experience a slowdown. Several countries around the world have restricted the product launch of electric vehicles. This will have a negative impact on the electric vehicle charging infrastructure market growth.

EVs will continue to be a focus of governments around the world as they work to recover from the pandemic and build a stronger, more resilient economy. California, for example, is focusing on electric vehicle sales and has strong targets. This is expected to have a positive effect post-pandemic, and increase the market’s growth.

Regional Market Analysis

Asia Pacific was the dominant market in terms, of accounting for over 58.5% of global revenue in 2021. South Korea, Japan, China, and Japan are the main producers of electric vehicles. They also heavily invest in charging infrastructure. In October 2015, for example, the Chinese government announced that it would invest in EV infrastructure in order to reach its goal of 5 million EVs on the road by 2020. South Korea also announced a USD 180.3 million investment to expand the infrastructure for EV charging across the country in its effort to promote eco-friendly cars in the transportation sector. Japan’s electric charging stations also surpassed the number of petrol stations had more than 40,000 outlets in 2020.

Many European countries have ambitious targets to reduce carbon emissions and increase electric car stock by 2020. The Automated and Electric Vehicles Act (AEV) was passed by the U.K. government in July 2018. This law gives the government new powers to promote the rapid development of EVCI at fuel stations and motorways.

The German National Platform for Electric Mobility was established by the German Government in October 2014. It is an advisory body that analyzes the development and maintenance of public electric vehicle charging infrastructure. France, Germany, Belgium, the U.K., and Germany are also focusing their efforts on developing EV charging infrastructure and supporting infrastructure that will enable EV interoperability across the region.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Companies Analysis:

Market players are constantly working on new product development and upgrading their product portfolios. These players are open to collaborations with other EV makers for strategic growth. Charge Point, Inc., a market leader, collaborated in 2016 with BMW of North America, LLC, and Volkswagen of America, Inc. to set up around 100 DC fast chargers on the east and west coasts of America. Charge Point Inc. has also been taking various strategic initiatives to increase its presence in Europe. M&A is a common strategy for market scenario leaders to consolidate their infrastructure market share. Chargemaster Plc acquired Elektromotive Limited 2017, an infrastructure supplier, and its subsidiary, Charge Your Car. The acquisition was made to increase the company’s customer service and portfolio. BP plc bought Chargemaster Plc in 2018, the U. K’s largest supplier of EV chargers. Chargemaster Plc was rebranded as BP Chargemaster after the acquisition. The acquisition allowed BP plc the ability to deploy a fast, ultra-fast charging network at BP’s U.K forecourts.

Маrkеt Кеу Major Players:

• AeroVironment, Inc.
• ABB Ltd.
• BP Chargemaster
• Blink Charging Co.
• ChargePoint, Inc.
• Chargemaster Plc
• ClipperCreek, Inc.
• Delta Electronics, Inc.
• Delphi Automotive LLP
• Eaton Corp. PLC
• Electrify America LLC
• EVGO Services LLC
• General Electric Company
• Hyundai Motor Company
• Leviton Manufacturing Co., Inc.
• Siemens AG
• SemaConnect Network
• Schneider Electric
• Tata Power
• Tesla Inc.
• Webasto SE
• Other Key Players

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For the Electric Vehicle Charging Infrastructure Market research study, the following years have been considered to estimate the market size: