Home / Automotive & Transportation / Electric Vehicle Charging Services Market by Vehicle Type(Battery Electric Vehicle (BEV), Plug–In Hybrid Vehicle (PHEV)) by Charging Station (AC Charging Station, DC Charging Station, Inductive Charging Station) by Application (Residential, Commercial): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

Electric Vehicle Charging Services Market by Vehicle Type(Battery Electric Vehicle (BEV), Plug–In Hybrid Vehicle (PHEV)) by Charging Station (AC Charging Station, DC Charging Station, Inductive Charging Station) by Application (Residential, Commercial): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

Published: May 2021 | Report Code: 60366-05-21

The Electric Vehicle Charging Services Market is expected to cross market value of USD 5,787.9 million in 2027 from USD 3,986.4 million in 2020. It is expected to grow at a CAGR of over 5.4% during the forecast period.

Key Market Drivers and Restraints

Growing demand for electric vehicles and changing preference towards promoting ecofriendly coupled with increasing environmental concerns are major factors expected to drive the growth of the global market. Also, rising R&D activities by manufacturers for highly developed charging stations with improved charging capabilities and charging time is expected to create new opportunities for players operating in the global market.

However, high cost of electric vehicle is expected to restrain the growth of the global market.

Impact of COVID 19

The outburst of pandemic COVID-19, the government around the earth have shifted their focus to health care services in their countries, and with the forced lockdown, all transportation work was affected as public were mandatory to stay at home to keep social distancing, which impacted the availability of the workers and the projects were affected. However, with the steady opening up of the economies infrastructure projects are resuming.

Asia Pacific to Dominate the global Electric Vehicle Charging Services Market

The global Electric Vehicle Charging Services Market covers the six regions, namely Europe, North America, Asia Pacific, Latin America (LATAM), Middle East and Africa, including all the key economies in these regions. Asia Pacific market is dominated the global market and accounted for more than 71% of the total market. This is attributed china is the largest market for electric cars and buses, and it sold 872 thousand units of New Energy Vehicles for the first nine months in 2019, exhibiting a growth rate of 20.8%.

Global Electric Vehicle Charging Services Market is led by the Charging Station

AC Charging Station, DC Charging Station, and Inductive Charging Station are the key Charging Station in the Electric Vehicle Charging Services Market. In 2020, DC Charging Station segment is accounted for the largest share of Electric Vehicle Charging Services Market. However, AC Charging Station segment is anticipated to grow at the fastest CAGR during the forecast period.

Battery Electric Vehicle (BEV) would continue to dominate the global Electric Vehicle Charging Services Market in terms of Vehicle Type

Battery Electric Vehicle (BEV) and Plug–In Hybrid Vehicle (PHEV) are some of the major types of Vehicle Type. Battery Electric Vehicle (BEV) segment accounted for the largest share in 2020 of the Electric Vehicle Charging Services Market in 2020. This is attributed to long term solution for mobility compared with internal combustion engine (ICE) powered vehicles.

Frequently asked questions about global Electric Vehicle Charging Services market

  • What are the consequences of COVID 19 on global Electric Vehicle Charging Services?
    Ans: The COVID-19 outbreak, the global automobile industry is facing a slowdown due to the lockdown in several countries that has limited the production of electric vehicles
  • Which are the key Vehicle Types through Electric Vehicle Charging Services?
    Ans: Battery Electric Vehicle (BEV) and Plug–In Hybrid Vehicle (PHEV) are the most frequently through Electric Vehicle Charging Services
  • Which is the key Charging Station through which Electric Vehicle Charging Services occurs?
    Ans: DC Charging Station is the most Charging Station in Electric Vehicle Charging Services
  • Who are the key players in the global Electric Vehicle Charging Services ?
    Ans: ENGIE, ChargePoint, Tesla, Inc., Leviton Manufacturing Company, Inc., EFACEC Power Solutions, EVGO, ABB, Aerovironment Inc., Schneider Electric SE, Siemens AG is key players operating in this market
  • Which is the fastest growing Application segment for global Electric Vehicle Charging Services?
    Ans: Commercial Application offers tremendous opportunities to players
  • Which is the leading regional market for global Electric Vehicle Charging Services?
    Ans: Asia Pacific has the largest share owing to increasing investment in infrastructure development for charging stations
  • What will be the CAGR (2021 - 2027) of in global Electric Vehicle Charging Services?
    Ans: The market is anticipated to grow at a CAGR of 5.4% throughout the forecast period
  • Which are the major factors driving the growth of global ADHD Drug?
    Ans: Increasing demand for electric vehicles and changing preference towards promoting an eco-friendly and economical modes of transportation are factors expected to drive the growth of the global electric vehicles charging services market


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