EV Charging Infrastructure Market by Charging Level (Level 1, Level 2, Level 3) by Charging Point Type (Normal Charging, Super Charging, Inductive Charging) by Installation Type (Portable Charger, Fixed Charger) by Charging Type (CCS, CHADEMO, Normal Charge, Super Charger, Type 2 (IEC 621196)) by Application Type (Private, Public): Growth, Future Prospects, and Competitive Analysis, 2015 - 2027

During the forecast period 2021-2027, the EV charging infrastructure market is expected to grow at a CAGR of 30.4%. The market is estimated to be worth US$ 19.6 billion in 2021 and will generate US$ 125.66 billion by 2027. Electric mobility is a globally viable alternative for decarbonizing the transportation industry. To complete this ambitious change, an accessible and dependable network of electric vehicle (EV) charging infrastructure is required. Countries worldwide have implemented various enabling policies to support the expansion of the charging infrastructure network. However, because of the unique nature of this new infrastructure type, it must be adapted to the specific transportation context.

Global EV Charging Infrastructure Market

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Air pollution is one of the world's most serious environmental health hazards. The World Health Organization classifies outdoor air pollution, mainly particle matter, as a carcinogen. Cancer, as well as heart disease, dementia, asthma, and other health issues, are caused by air pollution. According to King's College research, air pollution kills around 9,500 people in London annually. Pollution has a particularly negative impact on youngsters. The emissions from the vehicle are a major source of air pollution at the global level. Reducing the number of emissions-producing cars is one of the quickest and most effective ways to reduce air pollution in a community and, as a result, improve people's health, lower healthcare costs, and improve their lives. Because EVs have no tailpipes and emit no local pollutants, the more electric vehicles and the fewer combustion engine vehicles on the road, the less pollution there is.

The Level 2 Charging category is expected to have the largest market share by 2027.

In terms of charging level, the level 2 charge segment led the market in 2021 and is projected to continue to do so throughout the forecast period. This might be because the bulk of home chargers and public charging stations are Level 2. Depending on the EV and its onboard charger, these stations can boost RPH by 12 to 25. Level 2 charging stations are ideal for long periods when a vehicle is parked, such as at work, restaurants, movie theatres, sporting events, or long shopping trips. Level 2 charging is up to six times faster than Level 1 charging and offers enough juice to travel across town.

The Asia Pacific is expected to have the largest market size during the forecast period.

The Asia Pacific is the market's dominant region in 2021 and is expected to remain so throughout the forecast period. China, Japan, South Korea, India, and Australia comprise most of the Asia Pacific region. The Indian EV charging Infrastructure market is expected to be the fastest growing in this region. Executive government bodies are in charge of the day-to-day administration of EV charging infrastructure, including planning, allowing, and assisting with EV charging implementation. In India, for example, the Ministry of Power (MoP) published the Charging Infrastructure Guidelines and Standards for Public Charging Infrastructure, which outlined an enabling framework for implementation. In addition, the MoP confirmed, in its capacity as a legislative body, that the operation of EV charging services did not necessitate a license under the Electricity Act of 2003. Similarly, in India, the State Electrical Regulatory Commissions (SERCs) determine EV pricing and other restrictions affecting the power supply for EV charging.

Global EV Charging Infrastructure Market Key Players:

AeroVironment Inc., ABB, BP Chargemaster, ChargePoint, Inc., ClipperCreek, Eaton, General Electric, Leviton Manufacturing Co., SemaConnect, Inc., Schneider Electric, Siemens, Tesla, Inc are some of the key players operating in the global EV charging infrastructure market. These companies offer a wide range of products and services for the electric vehicle charging station industry, and they invest heavily in R&D to develop new ones. For example:

  • In September 2020, Tesla acquired ATW automation, a German company specializing in battery modules.
  • In July 2020, ABB began building a USD 30 million plant in the Netherlands to produce EV chargers for worldwide demand.

 Frequently asked questions about global EV charging infrastructure market

The market is estimated to be worth US$ 19.6 billion in 2021 and will generate US$ 125.6 billion by 2027.

Vehicle-to-Grid (V2G) EV charging stations for electric vehicles and EV charging stations powered by renewable sources are two of the market's most promising prospects.

Government regulations and subsidies, as well as environmental pollution being recognised as a serious concern, are the primary driving forces in the market.

The Asia Pacific region is expected to account for the majority of market share.

AeroVironment Inc., ABB, BP Chargemaster, ChargePoint, Inc., ClipperCreek, Eaton, General Electric, Leviton Manufacturing Co., Inc., SemaConnect, Inc., Schneider Electric, Siemens, Tesla, Inc

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Published Date:  Sep 2021
Category:  Automotive & Transportation
Report ID:   60429
Report Format:   PDF
Pages:   120
Rating:    4.2 (49)
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