Electric Vehicle Charging Station Market worth USD 165.18 Bn. by 2029 Competitive Landscape, New Market Opportunities, Growth, Return on Investments

December 08 18:27 2022
Electric Vehicle Charging Station Market worth USD 165.18 Bn. by 2029 Competitive Landscape, New Market Opportunities, Growth, Return on Investments
Electric Vehicle Charging Station Market
Electric Vehicle Charging Station Market size was valued at US$ 19.28 Bn. in 2021 and the total revenue is expected to grow at 30.8% through 2022 to 2029, reaching US$ 165.18 Bn.

Pune, 8 Dec 2022: According to Maximize Market Research, Electric Vehicle Charging Station Market size was valued at US$ 19.28 Bn. in 2021 and the total revenue is expected to grow at 30.8% through 2022 to 2029, reaching US$ 165.18 Bn.

Electric Vehicle Charging Station Market Scope and Research Methodology

The research methodology used to estimate and forecast the Electric Vehicle Charging Station Market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the electric vehicle charging station adoption rate and pricing by key players, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Vice Presidents (VPs), directors, and related executives in the market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.

Electric Vehicle Charging Station Market Overview

The electric vehicle supply equipment (EVSE), also known as a charging station, is a device used to transfer electricity from the electric grid and distribute it to electric vehicles, including battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles, in order to charge them. There are three main categories of charging stations: AC, DC, and inductive, which are further divided into residential and commercial uses depending on the use of the charger.

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Electric Vehicle Charging Station Market Dynamics

One of the key factors driving the market’s overall growth is the steady increase in EV sales across the world, which are driving up demand for EV charging stations globally. According to the IEA, the worldwide EV stock finally reached the 10 Mn. mark in 2020, a 43% rise from 2019, and represented 1% of the overall stock share. This came after a decade of strong expansion. In 2020, BEVs (Battery Electric Vehicles) accounted for roughly two-thirds of the stock market and almost two-thirds of new electric car registrations. Additionally, a number of well-known businesses, including Schneider Electric, Siemens, Bosch, ABB, Leviton, and Clipper Creek, are making substantial investments in the construction of EV charging stations. With the introduction of EVBox stations, peer-to-peer electric vehicle charging stations, more and more companies are also making substantial investments in the installation of EV charging stations.

Electric Vehicle Charging Station Market Segmentation

By Level of charging

  • Level 1
  • Level 2
  • Level 3

By Charging Infrastructure Type

  • Normal Charging
  • Fast Charging
  • CHAdeMO
  • CCS
  • Tesla SC
  • GB/T

By Application

  • Public
  • Private

Based on Application, public charging stations held the largest market share in 2021. A large number of EV owners won’t have access to private or designated parking spaces with charging stations. These EV owners will require public charging stations to refuel their vehicles. Public charging stations work effectively in places that draw guests for comparatively longer stays and already have parking available. More charging stations will probably be installed in markets, restaurants, and malls also installation of EV chargers helps boost the demand in the restaurant and mall market.

Electric Vehicle Charging Station Market Key Competitors are: 

  • AeroVironment, Inc.
  • ABB
  • BP Chargemaster
  • ChargePoint, Inc.
  • ClipperCreek, Inc.
  • Eaton Corp.
  • General Electric Company
  • Leviton Manufacturing Co., Inc.
  • SemaConnect, Inc.
  • Schneider Electric
  • Siemens AG
  • Tesla, Inc.
  • Webasto SE
  • Engie
  • Schneider Electric
  • EVgo
  • Alfen
  • Blink Charging

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Key questions answered in the Electric Vehicle Charging Station Market are: 

  • What is a Electric Vehicle Charging Station? 
  • What is the growth rate of the Electric Vehicle Charging Station Market for the forecast period? 
  • What is the nature of competition in the Electric Vehicle Charging Station industry in developed economies and developing economies? 
  • Who are the key players in the Electric Vehicle Charging Station Market?
  • Who are the market leaders in Electric Vehicle Charging Stations in Europe?
  • Who are the market leaders in Electric Vehicle Charging Stations in USA and Canada?
  • Who are the market leaders in Electric Vehicle Charging Stations in India, China, Japan, and South Korea?
  • What are the factors affecting growth in the Electric Vehicle Charging Station Market? 
  • Who held the largest market share in the Electric Vehicle Charging Station Market? 

Maximize Market Research is leading automotive research firm, has also published the following reports:

Electric Vehicle Charging Infrastructure MarketElectric Vehicle Charging Infrastructure Market volume was 3100.5 Thousand Units in 2021 and the total revenue is expected to grow at 46.6 % through 2022 to 2029, Electric Vehicle Charging Infrastructure Market is reaching nearly 66147.9 Thousand Units. By 2029. Electric vehicles have a number of advantages, including decreased fuel use and pollution from vehicle engines, which are driving up global demand for them.

India’s Electric Vehicle Market size was valued at US$ 326.6 Mn. in 2021 and the total revenue is expected to grow at 94.2% from 2022 to 2029, reaching US$ 66,070.86 Mn. The government has launched numerous financial aids and subsidies for the purchase of electric vehicles, which is acting as a significant key factor for the market growth.

Electric Vehicle Battery Market was valued at USD 217.83 Billion in 2021, and it is expected to reach USD 1491.91 Billion by 2029, exhibiting a CAGR of 27.19% during the forecast period (2022-2029). The market for EV batteries has shown persistent high growth rates in recent years, owing to the introduction of electro mobility and the subsequent increase in EV manufacturing.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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