Electric Vehicle Charging Station Market Size, Share & Forecast


 Electric Vehicle Charging Station Market

The Global Electric Vehicle Charging Stations Market is projected to reach USD 78,553 million in 2027, expanding at a CAGR of 29.8%.

The factors driving the growth of Electric Vehicle Charging Station Market includes increasing demand for emissions free vehicles, growing number of portable charging stations and rising Government emphasis to look towards alternative oil fuels. In addition, the increasing Government’s focus on developing electric vehicles charging stations across the world, rising crude oil prices and growing consciousness on adopting environment-friendly fuels, are some of the additional factors augmenting the Electric Vehicle Charging Station Market Size. As per the report published by the Federation of Automobile Dealers Associations’ (FADA), Electric Vehicles sales in India witnessed a 155% YoY growth during FY20 and FY22 to 4,29,217 units in FY22, which will accelerate the market growth in the coming few years. Moreover, the increasing investments by companies on research and development for enhancing the manufacturing process, will boost the Global Electric Vehicle Charging Station Market, as per the data available at Statista, Tesla spends around $2.5 on Research and Development (RD) of manufacturing electric vehicles.

The leading players operating in the market includes ABB Group, Volkswagen AG, Tesla Inc., BYD Company Limited, Efacec Power Solutions, Mitsubishi Electric, Leviton, Nissan Motor Company, Yazaki and Bosch among others.

Charging Level: Segment Analysis

Based on the charging level, the Level 1 segment is anticipated to expand at a faster CAGR over the forecast period. The Level 1 charging’s cost-effective and easy installation features along with their ability to provide charging range between 2 to 5 miles per hour, are some of the factors supplementing the growth of the segment.

Application: Segment Analysis

Based on the application, the public segment is expected to grow at a faster CAGR during the forecast period due to increasing installation of Electric Vehicle Supply Equipment (EVSE) infrastructure, in shopping malls, corporate offices and stadiums.

Installation Type: Segment Analysis

Based on the installation type, the Portable segment is projected to dominate the market over the forecast period. The increased manufacturing of sophisticated chargers by the leading players along with its lightweight and easy to carry properties, are some of the factors augmenting the growth of the segment.

Regional: Segment Analysis

Based on the region, Asia-Pacific region is expected to capture the highest share in the market during the forecast period attributed to increasing demand for electric vehicles, increasing disposable incomes and growing adoption of environment friendly fuels.

Market Segmentation

Global Electric Vehicle Charging Station Market by Charging Level

  • Level 1
  • Level 2
  • Level 3

Global Electric Vehicle Charging Station Market by Application Type

  • Public
  • Private

Global Electric Vehicle Charging Station Market by Installation Type

  • Portable
  • Fixed

Global Electric Vehicle Charging Station Market by Charging Station Type

  • Normal Charging
  • Super Charging
  • Inductive Charging

Global Electric Vehicle Charging Station Market by Charging Infrastructure Type

  • CCS
  • CHAdeMO
  • Normal Charger
  • Tesla Supercharger
  • Type 2 (IEC 62196)

Global Electric Vehicle Charging Station Market by Electric Bus Charging Type

  • Off-Board Top-Down Pantograph
  • Off-Board Bottom-Up Pantograph
  • Charging via connector

Global Electric Vehicle Charging Station Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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