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Electric Vehicle Charging Station Market By Level of Charging (Level 1, Level 2 & Level 3) By Charging Infrastructure (Normal Charge, Type-2, CCS, CHAdeMO and Tesla Supercharger), By Application (Commercial, and Residential) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028

Covid-19

Global Electric Vehicle Charging Station Market Size, Share

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Industry Insights

[225+ Pages Report] According to a report published by Facts & Factors, the global electric vehicle charging station market was estimated at USD 18.22 billion in 2021 and is expected to hit USD 115 billion by the end of 2028, expanding at CAGR by 35% between 2021 and 2028.

logoMarket Overview

The adoption rate and interest in EVs (Electric Vehicles) are increasing among consumers across the world. Increasing investment in battery systems and high stakes in environment-friendly technology is driving the interest of automakers in electric vehicles. Moreover, governments of the countries are devising policies to increase the adoption rate of the EV. However, if we forecast the expected EV growth rate with corresponding units of electricity and average run time of vehicles, it is observed that high investments in EV charging stations are essential. This charging infrastructure can be built at home, offices, and in public spaces.

logoIndustry Growth Factors

The low operating cost of EVs in the long run as compared to petrol/Diesel cars is driving the market for the electric vehicle market. The main reason for the decreasing trend in the price of EVs is a reduction in the price of lithium-ion batteries. High competition and excessive research projects under corporates and institutions are assisting in dragging the price of lithium-ion batteries.

Electric Vehicle Charging Station Market

Another important driving factor for the growth of the market is the potential market of providing charging services to EV fleet operators. It assists in reducing the managing and procuring cost of charging services. Assuming widespread EV adoption and increased growth opportunities for the fleet operators will converge and increase the demand for charging infrastructure in the forecast period. However, one of the major challenges for the charging station operator is the reduction in the time of charging the vehicle.

logoSegmentation Analysis

The global electric vehicle Charging Station Market is segregated based on the charging level as level 1, Level 2 & Level 3. By charging infrastructure the market is divided as normal charge, type-2, ccs, chademo, and tesla supercharger. By application, the market is bifurcated as commercial, and residential. The commercial segment is likely to grow by higher CAGR as a result of government funding to create robust charging infrastructure and automobile companies investing in charging stations.

logoReport Scope

Report Attribute

Details

Market Size in 2021

USD 18.22 billion

Projected Market Size in 2028

USD 115 billion

CAGR Growth Rate

35% CAGR

Base Year

2020

Forecast Years

2021-2028

Key Market Players

ChargePoint, Inc., ABB, bpChargemaster, Webasto Thermo & Comfort, Shell International B.V., Schneider Electric, Blink Charging Co., Groupe Renault, Phihong USA Corp., EV Safe Charge Inc., Eaton., Tata Power., Tesla, SemaConnect, Inc., Daimler AG., Siemens, EVgo Services LLC., ENGIE EV Solutions

Key Segment

By Level of Charging, By Charging Infrastructure, By Application, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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logo Regional Analysis

The largest market is expected to be the Asia Pacific. During the forecast period, the Asia Pacific market is expected to be driven by the large-scale growth of EV charging networks in China, increasing demand for affordable electric vehicles for everyday use, and governments supporting electric vehicles. China's rapidly expanding economy is propelling the country's electrification.

The governments of Japan and Korea have both announced plans to significantly increase the number of electric vehicle charging stations in their respective countries in the coming years. The Indian government has also announced plans to build 69,000 electric vehicle charging stations across the country as part of its first phase of EV infrastructure expansion, with a demand of 4 lakh charging stations anticipated by 2028.

logo Competitive Players

Major players in the market are ChargePoint, Inc., ABB, bpChargemaster, Webasto Thermo & Comfort, Shell International B.V., Schneider Electric, Blink Charging Co., Groupe Renault, Phihong USA Corp., EV Safe Charge Inc., Eaton., Tata Power., Tesla, SemaConnect, Inc., Daimler AG., Siemens, EVgo Services LLC., ENGIE EV Solutions.

logo By Level of Charging

  • Level 1
  • Level 2
  • Level 3

logo By Charging Infrastructure

  • Normal Charge
  • Type-2
  • CCS
  • CHAdeMO
  • Tesla Supercharger

logo By Application

  • Commercial
  • Residential

logo Regional Segment Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Covid-19

Electric Vehicle Charging Station Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • ChargePoint Inc.
  • ABB
  • bpChargemaster
  • Webasto Thermo & Comfort
  • Shell International B.V.
  • Schneider Electric
  • Blink Charging Co.
  • Groupe Renault
  • Phihong USA Corp.
  • EV Safe Charge Inc.
  • Eaton.
  • Tata Power.
  • Tesla
  • SemaConnect Inc.
  • Daimler AG.
  • Siemens
  • EVgo Services LLC.
  • ENGIE EV Solutions

Frequently Asked Questions

Strict enforcement of laws by government authorities mandating Electric Vehicle Charging Station Market.
According to Facts and Factors research report, the global Electric Vehicle Charging Station Market accrued earnings worth approximately XX (USD Billion) in 2020 and is predicted to gain revenue of about XX(USD Billion) by 2028, is set to record a CAGR of nearly XX% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large-scale presence of giant participants in countries such as the U.S. Apart from this, favorable compensation policies along with high acceptance of new Electric Vehicle Charging Station Market will drive regional market trends. With regional governments enforcing strict laws pertaining to drug abuse, the market for Electric Vehicle Charging Station Market in North America is set to witness exponential growth over years to come. Legalization of cannabis in countries such as Canada and U.S. through passing of acts in parliament is likely to enlarge scope of Electric Vehicle Charging Station Market in North America over coming decade.
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