Industries Study Report: Electric Vehicle Charging Station Industry

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The Future of Electric Vehicle Charging Stations: Trends and Innovations in the Industry

Electric Vehicle Charging Station Industry Data Book - Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Grand View Research’s electric vehicle charging station sector database is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Electric Vehicle Charging Station Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Electric Vehicle Charging Infrastructure Market Report Highlights

The global Electric Vehicle Charging Infrastructure Market size was estimated USD 19.67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25.5% from 2023 to 2030.

In terms of charger type, the fast charger segment dominated the market in 2023. The rising preference for EVs among consumers seeking more convenient and efficient vehicle charging methods is propelling the growth of this segment
In terms of connector, the CHAdeMO segment is expected to grow at a significant CAGR during the forecast period. The CHAdeMO connector’s capacity to provide a DC fast charging solution, enabling swift EV battery recharge, acts as a significant contributor to segment growth
In terms of level of charging, the level 2 segment dominated the market in 2023. The growth of level 2 charging networks, especially in urban areas and along major U.S. highways, significantly drives segment expansion. With increasing electric vehicle adoption, numerous municipalities and businesses are investing in level 2 charging infrastructure to retain and attract EV drivers
In terms of connectivity, the non-connected charging stations segment led the market in 2023. The growing adoption of stand-alone chargers by small businesses, private individuals, and municipalities is a major factor contributing to segment growth
In terms of application, the commercial segment held a major revenue share in 2023. Increasing number of EV charging stations in commercial spaces and rising government funding and initiatives for installing publicly accessible EV charging stations are major factors behind segment growth
The Asia Pacific region dominated the market in 2023. Stringent vehicle emission standards and a strong emphasis on electric vehicle research and development act as key drivers propelling regional market growth for electric vehicle (EV) charging infrastructure

Order your copy of Free Sample of “Electric Vehicle Charging Station Industry Data Book - Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Global Micro Mobility Charging Infrastructure Market Share, by region, 2022 (%)

Micro Mobility Charging Infrastructure Market Report Highlights

The global Micro Mobility Charging Infrastructure Market size was estimated at USD 4.58 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030.

Numerous micro-mobility companies are focusing on implementing dockless systems for e-scooters in parking zones. This is expected to drive the growth of the e-scooters vehicle type segment over the forecast period
In terms of charger type, the wireless segment is expected to witness significant growth over the forecast period. Wireless charging stations are made of coil technology and magnetic concrete, which enables excellent alignment tolerance and better vertical wireless power transmission distance
The demand for solar-powered charging stations has increased substantially among e-scooters and e-bike users. Along with being more eco-friendly, these stations are simpler to integrate with vehicle charging tools. Moreover, buildings with solar panels can charge vehicle batteries through these stations
Smart cities and smart workplace initiatives across the globe are expected to encourage the uptake of micro-mobility vehicles globally. This is expected to create growth opportunities for the residential segment over the forecast period
Around 50 million people in the U.S. travel using bicycles regularly. This large base of potential customers is expected to fuel the North American regional market growth

Go through the table of content of Electric Vehicle Charging Station Industry Data Book to get a better understanding of the Coverage and Scope of the study

Competitive Landscape

Key players operating in the Electric Vehicle Charging Station industry are:

ChargePoint, Inc
Tesla, Inc
ABB
BP Chargemaster
ClipperCreek, Inc

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Electric Vehicle Charging Station Industry: Vendor Landscape

The global Electric Vehicle Charging Station Industry was estimated at USD 24.26 billion in 2022 and is anticipated to increase at a significant CAGR of 25.5% from 2023 to 2030.

Access the Global Electric Vehicle Charging Station Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Electric Vehicle Charging Infrastructure Market Growth & Trends

The global electric vehicle charging infrastructure market size is expected to reach USD 121.09 billion by 2030, expanding at a CAGR of 25.5% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The growth of the EVCI market can be attributed to the growing number of consumers adopting electric vehicles, which is driven by the need to make environmentally conscious decisions, increasing fuel costs, favorable government subsidies, and lower cost of ownership over the vehicle’s lifecycle.

The growing demand for electric vehicles is further driving the demand for sufficient charging infrastructure, thereby driving the market’s growth. Various electric vehicle manufacturers such as Volvo, Kia Motors, Mercedes-Benz, and Ford, among others, are collaborating with the charging infrastructure providers for easy availability of charging stations. For instance, In November 2020, ChargePoint, Inc. announced its partnership with Volvo Car USA LLC to provide a seamless charging experience to Volvo car drivers.

ChargePoint, Inc. will offer Home Flex home chargers to Volvo Car drivers owing to this partnership which will enable drivers to charge their cars at home. Moreover, Delta Electronics, Inc.; Enel X; and Ecotap BV; among others; are focusing on the development of solar-powered electric vehicle charging stations. For instance, under the Honda SmartCharge program, Enel X is currently working on the development of a solar-powered charging station in Hawaii (U.S.) in partnership with the Hawaiian Electric Company, Inc.

Furthermore, various companies are working towards upgrading Electric Vehicle Supply Equipment (EVSE) to make them more convenient for long-distance travel. Some of the electric vehicles manufacturers such as Tesla, Inc., and Nissan, are focusing on providing compatibility for their electric vehicles for public charging networks. For instance, Nissan in November 2019, announced that buyers of the new Nissan LEAF and Nissan LEAF would be able to charge their vehicles across EVgo’s charging network which comprises 750 public charging stations.

Order your copy of the Free Sample of “Electric Vehicle Charging Station Industry Data Book - Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Micro Mobility Charging Infrastructure Market Growth & Trends

The global micro mobility charging infrastructure market size was estimated at USD 4.58 billion in 2022 and is expected to grow at a CAGR of 25.8% from 2023 to 2030. One of the main factors influencing the market growth is the rising use of micro mobility vehicles like e-scooters and e-bikes to reduce carbon emissions. There are several uses for micro mobility cars in the commercial and transportation sectors. Manufacturers of micro mobility vehicles are undertaking several endeavors to set up charging networks all around the world. For instance, TIER, a German e-scooter firm, raised USD 250 million from SoftBank in November 2020 to build micro mobility vehicle charging networks throughout Berlin. Such measures are encouraging for the market for micro mobility charging infrastructure during the upcoming years.

The micro-mobility charging infrastructure market is segmented based on vehicle type, charger type, power source, and end-use. Based on vehicle type, the market is further divided into e-scooters, e-bikes, e-unicycles, and e-skateboards. The e-scooters segment dominated the market in 2022 and is expected to register a significant growth rate over the forecast period. Customers prefer e-scooters for shorter travel distances because they require less parking space and have quick recharge times. Most e-scooter charging stations include a designated parking place, which lessens traffic congestion and air pollution caused by vehicles. Additionally, these charging stations are adaptable to any e-scooter design and can be efficiently created based on the area available. These factors are expected to help to boost the segment’s growth. The graph below depicts the fuel taxation rates in percentage across countries as per the Petroleum Planning & Analysis Cell. The increasing crude oil consumption and imports by various countries have led to an increase in fuel taxation rates leading consumers to opt for e-scooters to avoid higher fuel consumption costs, propelling the segment’s growth.

Go through the table of content of Electric Vehicle Charging Station Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Electric Vehicle Charging Station industry are:

ChargePoint, Inc.
Tesla, Inc.
BP Chargemaster
Flower Turbines
Ather Energy

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Electric Vehicle Charging Station Industry: Competitive Dashboard Analysis, 2023 - 2030

Electric Vehicle Charging Station Industry Data Book Covers Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market

The global Electric Vehicle Charging Station industry was estimated at USD 24.26 billion in 2022 and is anticipated to increase at a significant CAGR of 25.5% from 2023 to 2030.

Electric Vehicle Charging Infrastructure Market Insights

The global electric vehicle (EV) charging infrastructure market size was valued at USD 19.67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25.5% from 2023 to 2030. The rising levels of carbon emissions and other harmful gases stemming from transportation have triggered the necessity of adopting electric vehicles. As a result, the demand for an electric vehicle charging infrastructure among commercial and residential applications. Moreover, the increasing partnerships between car manufacturers for charging facilities by providing a subscription model is expected to further drive the market.

The technological progress of both electric vehicles charging software and hardware is expected to change the way electric vehicle owners use and benefit from electric vehicle charging applications. Technologies such as Smart car API and charging networks precisely determine an electric vehicle’s charge time even before the car driver plugs the car into a station. Additionally, green energy is expected to play a significant role in both public and residential electric vehicle charging space. Electric vehicle owners are majorly concerned about carbon emissions. To address these concerns, companies are making rapid advancements in the charging technologies of their electric vehicle charging networks.

The market penetration of electric vehicle charging equipment is significantly high at commercial spaces as compared to residential places. The number of commercial charging stations is predicted to increase in line with the growing adoption of electric vehicles. Efforts toward strengthening the charging infrastructure in commercial spaces would be decisive toward encouraging the adoption of electric vehicles, as overnight charging at residential complexes or individual home would not be sufficient for long-distance journeys. Moreover, public charging infrastructure would also facilitate the ultra-fast charging capabilities necessary for long-distance journeys. However, electric vehicle chargers for residential spaces can also offer significant growth potential as they provide a cheaper and convenient mode for charging electric vehicles as compared to commercial charging stations.

Electric Vehicle Charging Infrastructure Market Annual Sales of Electric Vehicles in the U.S. (2017-2021)

Micro Mobility Charging Infrastructure Market Insights

The global micro-mobility charging infrastructure market size was valued at USD 4.58 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. Increasing adoption of micro-mobility vehicles such as e-scooters and e-bikes to help reduce pollution and congestion, especially in crowded cities is a major factor driving the market growth. Micro-mobility is a better alternative to public transportation for countries worldwide focusing on solving their transportation problems rising concern of emissions from vehicles running on gasoline or diesel. Moreover, government subsidies and tax incentives aimed at encouraging the adoption of micro-mobility vehicles are further expected to create more growth opportunities for the market.

Rising applications of micro-mobility vehicles in the transportation and commercial sectors are presenting the need for a strong network of micro-mobility charging stations. In response to the rising demand, micro-mobility vehicle manufacturers are also focusing on offering charging networks across the globe. For instance, in November 2020, TIER, a German e-scooter startup, raised USD 250 million in a Series C funding round from SoftBank Vision Fund 2 to expand its presence in European cities. Such developments bode well for the growth of the micro-mobility charging infrastructure market over the forecast period.

The rapidly growing demand for shared mobility solutions is further expected to drive the market growth over the forecast period. Increasing traffic congestion, fuel cost, and rapidly shrinking parking spaces in emerging and developed countries have led to a greater demand for shared mobility solutions. Moreover, citizens prefer the use of shared mobility solutions as they are cheaper than other modes of transportation and eliminate the issues related to parking spaces. However, the high costs of setting up micro-mobility vehicle charging infrastructure could hamper the growth prospects of the market to a certain extent.

Go through the table of content of Electric Vehicle Charging Station Industry Data Book to get a better understanding of the Coverage & Scope of the study

Electric Vehicle Charging Station Industry Data Book Competitive Landscape

The key market players have developed novel concepts and ideas and upgraded the current set of products to sustain the intense competition in the market. The players have adopted new product development as their key developmental strategy to cater to the increasing demand from end-users. The electric vehicle charging infrastructure market and micro mobility charging infrastructure market can be described as moderately fragmented markets characterized by the presence of various prominent players driving competition by pursuing various strategies aimed at long-term sustenance.

Key players operating in the Electric Vehicle Charging Station Industry are:

ChargePoint, Inc.
Tesla, Inc.
ABB
BP Chargemaster
ClipperCreek, Inc.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Contact:

The Future of Electric Vehicle Charging Stations: Trends and Innovations in the Industry

Electric Vehicle Charging Station Industry: Vendor Landscape

Electric Vehicle Charging Station Industry: Competitive Dashboard Analysis, 2023 - 2030

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