An Electric Vehicle (EV) charging point market is a technology that links an EV to a power source, allowing electric vehicles, community EVs, and plug-in hybrids to be recharged. Some charging stations have advanced features such as cellular connectivity, smart metering, and network access, and others are more basic.
The global EV sector is expanding quickly, particularly in the United States and China. The EV charging market is a fast-paced one with several applications. Several nations’ government programs play an important role in the development of automobile charging stations. For example, China’s central government has supported the growth of rapid charging stations through national policies. Likewise, in the United States, government plays a significant role by mandating regulations and funding for the establishment of EV charging stations. However, there is still a scarcity of public charging stations in some nations, forcing users to rely only on charging options accessible at their offices and residences.
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List of Key Players- Electric Vehicle Charging Station Market
- The State Grid Corporation of China (SGCC)
- The Newmotion BV (Acquired by Shell)
- Tesla Motors Inc.
- Star Charge
- Siemens AG
- SemaConnect Inc.
- Schneider Electric SE
- Qingdao Tgood Electric Co. Ltd
- Leviton Manufacturing Co. Inc.
- Evgo (Acquired by L.S. Power)
- Evbox (ENGIE)
- EV Solutions (Webasto)
- ChargePoint Inc.
- BP Pulse
Electric Vehicle Charging Station Market Report Highlights
- ABB lanuched the new world’s fastest EV charger – Terra 360, in September 2021. This chargin infrastructure can charge up to 4 vehicles at once, with a capability of fully charging an EV in 15 minutes. The value of this business for the company is estimated at USD 3 Billion and is expected to be available in Europe by end of 2021.
- In June 2021, ChargePoint introduced a highly competitive and comprehensive electric fleet charging portfolio. It uses ChargePoint’s AC and DC charging systems and optimizes costs, charging time, energy usage, and fuel cost of EV fleets.
- In November 2021, Tesla launched its new version of Gen 2 wall connector with J1772 connector. Unlike its previous charging stations, this EV charging station is compatible with all kinds of EVs available in the North American market.
Geographically, APAC leads the market for electric car charging stations, followed by Europe. China is the largest market in Asia-Pacific for EV, having sold 872 thousand of New Energy Vehicles (including commercial and passenger vehicles) in the first nine months of 2019, representing a 20.8 percent increase.
The electric car charging station business in China is heavily supported by the country’s battery electric vehicle sector, which receives considerable government assistance. China has increased subsidies for purchasing new energy vehicles (NEVs) until 2022. Tesla Motors opened a $ 2 billion factory in Shanghai in January 2020, which was constructing almost 3000 vehicles per week in March 2020, when all of the electric vehicle giant’s other global facilities were closed down due to the COVID-19 epidemic.
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ELECTRIC VEHICLE CHARGING STATION MARKET SEGMENTATION
The research report published by Market Research Strategy contains industry segments, as below-
Electric Vehicle Charging Station Market Vehicle Type Outlook (Revenue, USD Million, 2016 – 2027)
- Passenger Cars
- Commercial Vehicles
Electric Vehicle Charging Station Market Charger Type Outlook (Revenue, USD Million, 2016 – 2027)
- AC Charging Station
- DC Charging Station
Electric Vehicle Charging Station Market Application Outlook (Revenue, USD Million, 2016 – 2027)
Electric Vehicle Charging Station Market Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
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