TOKYO, JAPAN, July 20, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Electric Vehicle Charging Station Market - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028” in its research database.
“According to the latest research study, the demand of global Electric Vehicle Charging Station Market size & share in terms of revenue was worth of USD 18.22 billion in 2021 and it is expected to hit USD 115 billion by the end of 2028, growing at a compound annual growth rate (CAGR) of about 35% during the forecast period 2021 to 2028.”
Market Overview
The adoption rate and interest in EVs (Electric Vehicles) are increasing among consumers across the world. Increasing investment in battery systems and high stakes in environment-friendly technology is driving the interest of automakers in electric vehicles. Moreover, governments of the countries are devising policies to increase the adoption rate of the EV. However, if we forecast the expected EV growth rate with corresponding units of electricity and average run time of vehicles, it is observed that high investments in EV charging stations are essential. This charging infrastructure can be built at home, offices, and in public spaces.
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EV Charging Station Industry Growth Factors:
High Demand from EV Fleet Operators for Charging Infrastructure
The important driving factor for the growth of the market is the potential market of providing charging services to EV fleet operators. It assists in reducing the managing and procuring cost of charging services. Assuming widespread EV adoption and increased growth opportunities for the fleet operators will converge and increase the demand for charging infrastructure in the forecast period. However, one of the major challenges for the charging station operator is the reduction in the time of charging the vehicle.
Browse the full “Electric Vehicle Charging Station Market By Level of Charging (Level 1, Level 2 & Level 3) By Charging Infrastructure (Normal Charge, Type-2, CCS, CHAdeMO and Tesla Supercharger), By Application (Commercial, and Residential) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028” Report at https://www.fnfresearch.com/electrical-vehicle-charging-station-market
EV Charging Station Market - Segmentation Analysis
The global electric vehicle Charging Station Market is segregated based on the charging level as level 1, Level 2 & Level 3. By charging infrastructure the market is divided as normal charge, type-2, ccs, chademo, and tesla supercharger. By application, the market is bifurcated as commercial, and residential. The commercial segment is likely to grow by higher CAGR as a result of government funding to create robust charging infrastructure and automobile companies investing in charging stations.
Key Insights From Primary Research:
- According to our research analyst's study, the Electric Vehicle Charging Station market is expected to grow at a CAGR of over 35% over the forecast period (2021-2028).
- In terms of revenue, the Electric Vehicle Charging Station market size was worth at US$ 18.22 billion in 2021, and it is expected to cross US$ 115 billion by the end of 2028.
- By application, the market is bifurcated as commercial, and residential. The commercial segment is likely to grow by higher CAGR.
- On the basis of geography, the “Asia Pacific” region was the leading revenue generator in during the forecast period.
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Key Questions Answered In This Report:
- What is the market size and growth rate forecast for Electric Vehicle (EV) Charging Station industry?
- What are the main driving factors propelling the Electric Vehicle (EV) Charging Station Market forward?
- What are the leading companies in the Electric Vehicle (EV) Charging Station Industry?
- What segments does the Electric Vehicle (EV) Charging Station Market cover?
- How can I receive a free copy of the Electric Vehicle (EV) Charging Station Market sample report and company profiles?
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 18.22 billion |
| Projected Market Size in 2028 | USD 115 billion |
| CAGR Growth Rate | 35% CAGR |
| Base Year | 2020 |
| Forecast Years | 2021-2028 |
| Key Market Players | ChargePoint, Inc., ABB, bpChargemaster, Webasto Thermo & Comfort, Shell International B.V., Schneider Electric, Blink Charging Co., Groupe Renault, Phihong USA Corp., EV Safe Charge Inc., Eaton., Tata Power., Tesla, SemaConnect, Inc., Daimler AG., Siemens, EVgo Services LLC., ENGIE EV Solutions |
| Key Segment | By Level of Charging, By Charging Infrastructure, By Application, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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EV Charging Station Market - Regional Analysis
APAC Region Projected To Dominate Global Electric Vehicle Charging Station Market Growth
The largest market is expected to be the Asia Pacific. During the forecast period, the Asia Pacific market is expected to be driven by the large-scale growth of EV charging networks in China, increasing demand for affordable electric vehicles for everyday use, and governments supporting electric vehicles. China's rapidly expanding economy is propelling the country's electrification.
The governments of Japan and Korea have both announced plans to significantly increase the number of electric vehicle charging stations in their respective countries in the coming years. The Indian government has also announced plans to build 69,000 electric vehicle charging stations across the country as part of its first phase of EV infrastructure expansion, with a demand of 4 to 6 lakh charging stations anticipated by 2028.
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Competitive Players
Some of the key players in the global electric vehicle charging station market includes;
- ChargePoint Inc.
- ABB
- bpChargemaster
- Webasto Thermo & Comfort
- Shell International B.V.
- Schneider Electric
- Blink Charging Co.
- Groupe Renault
- Phihong USA Corp.
- EV Safe Charge Inc.
- Eaton.
- Tata Power.
- Tesla
- SemaConnect Inc.
- Daimler AG.
- Siemens
- EVgo Services LLC.
- ENGIE EV Solutions
The Global Electric Vehicle (EV) Charging Station Market is segmented as follows:
By Level of Charging
- Level 1
- Level 2
- Level 3
By Charging Infrastructure
- Normal Charge
- Type-2
- CCS
- CHAdeMO
- Tesla Supercharger
By Application
- Commercial
- Residential
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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