About Electric Vehicle Charging Stations
Electric Vehicle Charging Stations is also named as EV charging station, electric recharging point, charging point, charge point, electronic charging station (ECS), and electric vehicle supply equipment (EVSE). These stations are used to supply electric energy for the recharging of plug-in electric vehicles. The EV charging stations consist of electric motors powered by electrical energy stored in a battery for propulsion. These stations provides a special connectors that provides to the variety of standards and ranges as well as capabilities. The increasing attractiveness of EVs for consumers, businesses and government agencies has increased the demand for EV charging stations.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market Share | 36.91% |
Unit | Value (USD Million) |
CAGR | 33.83% |
In Electric Vehicle Charging Stations Market, it has been observed that most of the companies are upgrading or introducing innovative products and services. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.The Manufacturers having a strong hold in the market are Tesla, ABB, Siemens, Schneider, Chargetpoint and Bosch. Analyst at AMA Research estimates that United States and European Manufacturers will contribute the maximum growth to Global Electric Vehicle Charging Stations market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tesla, Inc. (United States), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), Siemens AG (Germany), BYD Auto Co., Ltd. (China), Yazaki Corporation (Japan), Schneider Electric SE (France), EFACEC Power Solutions (Portugal), Engie (France), Mitsubishi Electric Corporation (Japan), Leviton Manufacturing Co., Inc. (United States), ChargePoint, Inc. (United States), Eaton Corporation Inc (Ireland) and General Electric Company (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are AeroVironment, Inc. (United States), ClipperCreek, Inc. (United States), Webasto SE. (Germany), Delta Electronics, Inc. (Taiwan), Alfen (Netherlands), Efacec Power Solutions (Portugal), Blink Charging (United States), Panasonic(Japan) and Xuji Group(China).
Segmentation Overview
AMA Research has segmented the market of Global Electric Vehicle Charging Stations market by Type (AC Charging Station and DC Charging Station) and Region.
On the basis of Type, AC Charging Station are dominating the market and held 59.82% of market share in the year 2023 where as DC Charging Station stood as second largest market share and accounted for 40.18%.
On the basis of application, Public segment is dominating the market and held 62.91% of market share in the year 2023 where as Private segment stood as second largest market with a holding of 37.09%.On the basis of geography, the market of Electric Vehicle Charging Stations has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Electric Bus Charging Type, the sub-segment i.e. Off-Board Top-Down Pantograph will boost the Electric Vehicle Charging Stations market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Charging Infrastructure Type, the sub-segment i.e. Combined Charging System (CCS) will boost the Electric Vehicle Charging Stations market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Charging Station Type, the sub-segment i.e. Normal Charging will boost the Electric Vehicle Charging Stations market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. Asia Pacific is projected to be the fastest-growing market, expanding at a CAGR of 35.31% from 2023 to 2030.
Influencing Trend:
Technological Advances in Electric Vehicles Charging
Market Growth Drivers:
Increasing Investments from Automotive Manufacturers, Government Policies and Subsidies, Growing Environment Pollution Concern and Demand for Increasing Vehicle Range Per Charge
Challenges:
High Initial Cost of EVs in Comparison With Ice Vehicles
Restraints:
Lack of Standardization in Charging Infrastructure and The Emergence of Hydrogen Fuel Cell Vehicles
Opportunities:
Use of Vehicle-To-Grid (V2G) Electric Vehicle Charging Stations for Electric Vehicles, Electric Vehicle Charging Stations Powered By Renewable Sources and Declining Lithium-Ion Battery Costs
Market Leaders and their expansionary development strategies
In June 2022, Blink Charging Co., a prominent company involved in owning, operating, and delivering electric vehicle (EV) charging equipment and services, officially acquired SemaConnect, Inc. This acquisition positions SemaConnect, a leading provider of EV charging infrastructure solutions in North America, as a part of Blink's expanding portfolio.
In November 2022, Nikola Corporation, a prominent player in zero-emissions transportation and energy solutions, and ChargePoint Holdings, Inc., a leading electric vehicle (EV) charging network, have unveiled a strategic partnership aimed at expediting the implementation of electric vehicle charging infrastructure for fleets across the United States. Through this collaboration, Nikola and its Sales and Service Dealer Network will have the opportunity to offer ChargePoint's extensive range of charging infrastructure and software solutions to their fleet customers.
In December 2018, the Indian government released a document to outline guidelines and standards for charging infrastructure for electric vehicles. The key objectives of this policy document are to enable faster adoption of electric vehicles, promote affordable tariff, to build city-wide charging infrastructure, to create a market for electric vehicle charging business, and to encourage preparedness of electrical distribution system. The guideline also stipulated that at least one charging station should be available in a grid of 3 KM X 3 KM. Further, one charging station is set up at every 25 KM on both sides of highways/roads. For long-range, EVs and heavy-duty EVs should be at least one charging station at every 100 km. The guidelines also suggested to create and maintain a national online database of all the public charging stations by Central Electricity Authority (CEA).
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Electric Vehicle Charging Stations Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-User Applications
Key Finding and Research Objectives
Where will Electric Vehicle Charging Stations market reach in upcoming years? What are the upcoming trends in the Electric Vehicle Charging Stations market? What are the opportunities for the players present now and for those planning to enter at various stages of the value chain? What are the emerging industrial applications of Electric Vehicle Charging Stations? What is the importance of Electric Vehicle Charging Stations in the manufacturing sector? Which regions will contribute a major share to the growth of the Electric Vehicle Charging Stations market? What are the opportunities for Electric Vehicle Charging Stations providers?
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.