Global electric vehicle charging infrastructure market stood around USD7.50 billion in 2020 and is estimated to reach USD37.85 billion in 2026, advancing with a CAGR of 31.40% in the next five years because of rising adoption of electric vehicle fleet along with the growth and development of road infrastructure across the world.

Charging station of an electric vehicle is the equipment that connects an electric vehicle to an origin of electricity to recharge the electric vehicles and plug-in hybrids. Some of the charging stations have advanced aspect such as smart metering, cellular capability, and network connectivity.

Divergent types of charging stations provide different speeds of charging. Level 1 charging stations use a 120 volt (V), alternating-current (AC) plug and require a restrict circuit, giving about 5 miles of range for every hour of charging. Correspondingly, level 2 stations charge through a 240V, AC plug and require home charging or public charging equipment to be installed. Level 2 stations provide 10 to 20 miles of spectrum for each hour of charging. Level 2 chargers are the most accepted and charge at approximately the same rate as a home system. DC fast chargers, also known as Level 3 chargers, use a 480V current, direct-current (DC) plug. They sidestep the onboard charger and provide DC electricity to the battery via a special charging port. DC Fast Chargers yield up to 40 miles of spectrum for every 10 minutes of charging but are not adaptable with all vehicles. Also, some rectitude charging stations, such as the Tesla Supercharger, are designed for significantly higher-speed charging.

Upsurge in the Adoption of Electric Vehicles to Drive the Market

Increasing adoption of electric vehicles is a major driver for the electric vehicle charging infrastructure market. The maintenance cost of electric vehicles is low as compared to the internal combustion engine (ICE) vehicles because ICE vehicles have more mechanical parts and thus it will have more complexity and adversity in the maintenance of the ICE vehicles as compared to the electric vehicles. The year-on-year rising sales of electric vehicles in shared mobility services and also the development of better road infrastructure is generating the demand for emission-free transportation like electric cars, electric two-wheelers, and buses, which is driving the sales of electric vehicle charging infrastructure units. The growing demand and sales of electric vehicles are continuously increasing across the globe which correspondingly influences the growth of electric vehicle charging infrastructure market globally.

High Price of Electric Vehicles Restricting Market Growth

Electric vehicles are jammed with state-of-the-art technologies such as high-capacity batteries and sophisticated car components. While electric cars come with fewer moving parts than petrol or diesel-powered vehicles, the most expensive part is the lithium-ion battery. In some cases, they account for about 50% of the cost of the car, and hence repairing or replacing batteries becomes costly. Batteries that power electric cars have a shelf life or an expiry date before they underperform or stop working. With the prices of lithium-ion batteries being high, replacement costs are higher. There is no price parity between electric vehicles and ICE vehicles across the world. Electric vehicles are way more expensive than their conventional fuel-powered counterparts. The high prices of electric vehicles and batteries are hampering the adoption rate of these vehicles which in turn is lowering the growth of electric vehicle charging infrastructure market across the globe.

Adverse Impact of COVID-19 on Electric Vehicle Charging Infrastructure Market

The imposed lockdown and rapid spread of the COVID-19 pandemic globally has created both a public health crisis and economic crisis in the year 2020, following economic fluctuation. Due to this, the automobile market was disturbed globally which also negatively impacted the global electric vehicle charging infrastructure market as well. Although, the pandemic has decreased the overall sales of automobiles, electric vehicles and automated vehicles have relatively witnessed less decline in volume in 2020. The COVID-19 pandemic caused automated vehicle venture capitalists and investors to look for new automobile technologies that can reduce physical human interaction. To curb the spread of COVID-19, social distancing was given high importance. For instance, in Florida, autonomous vehicles were being used to transport medical supplies and tests, minimizing person-to-person contact. In China, driverless cleaning and disinfection vehicles were used to disinfect hospitals and nearby roads. Vehicles that can provide the door-to-door experience without drivers are expected to become the next phase of mass transit. The growing future demand of autonomous vehicles running on electric energy is anticipated to drive the growth of global electric vehicle charging infrastructure market in the forthcoming years.

Market Segmentation

The global electric charging infrastructure market is segmented on the basis of vehicle type into two-wheeler, passenger car, and commercial vehicle, by type into AC and DC, by charging mode into plug-in and wireless, by installed location into residential and commercial, by connector type into UK 3-Pin, Industrial Commando, Type 1, Type 2, CHAdeMO, CCS and Tesla’s Proprietary Supercharger Connectors, by type of charging into slow and fast and by region into Europe, Asia-Pacific, South America, Middle East Africa, and North America.

APAC Led by China is the Largest Electric Vehicle Charging Infrastructure Market

APAC countries occupy the major market share of around 62.89% in the global electric vehicle charging infrastructure market. As China is the leading player in the global electric vehicle charging infrastructure market with the dominating share of 86.31% in the APAC region with the government support in large scale development of electric vehicle charging infrastructure across the country. The Chinese Government is encouraging the development of electric vehicle charging infrastructure as a significance of national policy. The Chinese Government is also providing the subsidy on electric vehicle which led to a rise in electric vehicle sales and therefore also results in the uprising of electric vehicle charging infrastructure market.


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Competitive Landscape

Charge Point, Inc. EV Box B.V., ABB Ltd., Tesla,Inc., Webasto Group, Siemens AG, Schneider Electric SE, Eaton Corporation plc, Royal Dutch Shell Plc, TGOOD Global Ltd. are among the major companies operating in the global electric vehicle charging infrastructure market. Key players are developing advanced technologies to stay competitive in the market and are also enhancing their product portfolio in the regions to increase their customer outreach.

Attribute

Details

Market size Value in 2020

USD7.50 Billion

Revenue Forecast in 2026

USD37.85 Billion

Growth Rate

31.40%

Base Year

2020

Historical Years

2016 – 2019

Estimated Year

2021

Forecast Period

2022 – 2026

Quantitative Units

Revenue in USD Billion, Volume in Units, and CAGR for 2016-2020 and 2021-2026

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·          By Vehicle Type

·          By Type

·          By Charging Mode

·          By Installed Location

·          By Connector Type

·          By Type of Charging

Regional Scope

Asia Pacific; North America; South America; Europe; Middle East & Africa

Country Scope

China, South Korea, Japan, India, Vietnam, Australia, Netherland, France, United Kingdom, Germany, Sweden, Norway, Italy, Spain, United States, Canada, Mexico, Brazil, Argentina, Colombia, Qatar, South Africa, UAE, Saudi Arabia

Key Companies Profiled

Charge Point, Inc. EV Box B.V., ABB Ltd., Tesla,Inc., Webasto Group, Siemens AG, Schneider Electric SE, Eaton Corporation plc, Royal Dutch Shell Plc, TGOOD Global Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

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Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Global electric vehicle charging infrastructure market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Electric Vehicle Charging Infrastructure Market, By Vehicle Type:
    • Two-Wheeler
    • Passenger Car
    • Commercial Vehicle
  • Electric Vehicle Charging Infrastructure Market, By Type:
    • AC
    • DC
  • Electric Vehicle Charging Infrastructure Market, By Charging Mode:

o    Plug-In

o    Wireless

  • Electric Vehicle Charging Infrastructure Market, By Installed Location:
    • Commercial
    • Residential

·         Electric Vehicle Charging Infrastructure Market, By Connector Type

o   Type 2

o   Type 1

o   UK 3-Pin

o   CHAdeMO

o   CCS

o   Industrial Commando

o   Tesla’s Proprietary Supercharger Connectors

·         Electric Vehicle Charging Infrastructure Market, By Type of Charging