Peer-To-Peer Electric Vehicle Charging Industry Overview
The global peer-to-peer electric vehicle charging market size was valued at USD 106,719.5 thousand in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 22.2% from 2022 to 2030. Factors such as the growing demand for electric vehicles worldwide and government policies and subsidies for purchasing electric vehicles and establishing charging infrastructure have led to an increase in the demand for peer-to-peer electric vehicle charging stations. According to a study by the European Association of Automobile Manufacturers (ACEA), the Netherlands, Germany, and France collectively account for nearly 70% of the region’s EV charging stations in 2020. Moreover, in 2020, electric vehicle sales in Europe grew by 89%, which is further expected to contribute to the growth of the market.
Various EV manufacturers and Original Equipment Manufacturers (OEMs) are making efforts to strengthen the interoperability of electric vehicles and charging infrastructure, which is further expected to enhance peer-to-peer charging networks. Additionally, governments across the globe are consistently allocating the necessary space for establishing electric vehicle charging infrastructure in residential places, which is likely to provide lucrative opportunities to the market. For instance, in March 2021, the Government of India directed that buildings in New Delhi, such as hotels, hospitals, and malls, with parking facilities of more than 100 vehicles need to reserve 5% of the parking space for electric vehicles and charging points.
Gather more insights about the market drivers, restraints, and growth of the Global Peer-To-Peer Electric Vehicle Charging Market
Numerous companies are focusing on partnerships with utility and energy companies to expand the reach of their peer-to-peer EV charging solutions. For instance, in January 2020, EVmatch announced the pilot project with utilities based in the U.S. state of Vermont, including Green Mountain Power and Burlington Electric Department, to make EV charging available to multi-family residences affordably and logically for property owners. Apartment owners are also increasingly adopting EV charging stations to earn extra revenue, recoup electricity costs, and attract new tenants. For instance, Park Plaza Apartments in the Mountain View area and Revere Apartments in the Campbell area in California have started offering EVmatch’s level 2 charging access to the general public and tenants.
To address range anxiety issues related to electric vehicles, governments across the globe are focusing on providing funds for the development of peer-to-peer networks. For instance, the U.S. government has developed the Northeast Corridor Regional Strategy, through which it provides support for the integration and development of peer-to-peer electric vehicle charging networks and electrical vehicle charging infrastructures. Government grants provided to promote the adoption of EV charging stations are expected to create new opportunities for the market in the near future. For instance, in June 2020, EVmatch received funds from Silicon Valley Clean Energy (SVCE), an electricity provider, for installing 8 EV chargers across multifamily properties across SVCE’s thirteen-member communities in the U.S. by 2021.
Several companies are introducing peer-to-peer charging stations aimed to improve the customer experience. For instance, in October 2021, REVOS, an EV infrastructure provider, announced the launch of the Bolt, a peer-to-peer charging point compatible with any portable EV charger. The company is also planning to install more than one million EV charging points across 500 cities in India and other emerging markets. Such factors bode well for the growth of the market over the forecast period.
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Peer-To-Peer Electric Vehicle Charging Market Segmentation
Grand View Research has segmented the global peer-to-peer electric vehicle charging market based on charger type, application, and region.
Peer-To-Peer Electric Vehicle Charging Charger Type Outlook (Revenue, USD Thousand, 2018 - 2030)
- Level 1
- Level 2
Peer-To-Peer Electric Vehicle Charging Application Outlook (Revenue, USD Thousand, 2018 - 2030)
- Residential
- Commercial
Peer-To-Peer Electric Vehicle Charging Regional Outlook (Revenue, USD Thousand, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Rest of the World
Market Share Insights:
April 2021: Enel X launched the JuiceRoll Race edition charging station for MotoE.
February 2020: ClipperCreek, Inc. updated its HCS-40 charger, which is a level-2 charger suitable for residential and commercial charging stations.
Key Companies profiled:
Some prominent players in the global Peer-To-Peer Electric Vehicle Charging market include
- Chargepoint Inc
- ClipperCreek, Inc.
- Enel X
- EVBox
- EV Meter
- Greenlots
- has·to·be gmbh
- innogy
- Power Hero
- Webasto Group
Order a free sample PDF of the Peer-To-Peer Electric Vehicle Charging Market Intelligence Study, published by Grand View Research.
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