Global Electric Vehicle Charging Station Market by Charging Type (Slow & Fast Charging, and Rapid Charging), By Charging Method (Battery Exchange, Wireless Charging, and Conductive Charging), By Station Type (Private and Public), By Mounting (Pole mounted & Online), and by Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2030

Industry Prospective

The Global Electric Vehicle Charging Station Market size was worth around USD 15.36 billion in 2021 and is predicted to grow around USD 43.87 billion by 2030 with a compound annual growth rate of roughly 14% between 2022 and 2030. The report analyzes the global electric vehicle charging station market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the electric vehicle charging station market.

Global Electric Vehicle Charging Station Market: Overview

Electric car charging systems are used to connect a plug-in electric vehicle or an electric vehicle to a power outlet in order to charge the vehicle's battery. In addition, a number of automakers and electric component manufacturers are developing an improved electric car charging system to suit the growing demand for electric vehicles.

The electric vehicle charging industry is a dynamic industry with numerous uses. Government initiatives in a number of nations worldwide play a crucial role in the evolution of automobile charging stations. The central government of China, for instance, has sanctioned the construction of fast-charging stations in accordance with national policy.

Similarly, in the United States, the government plays a crucial role in the development of EV charging stations by establishing obligatory regulations and funding. In some countries/regions, however, there is still a dearth of commercial charging stations, causing users to rely solely on office and home charging options.

Additionally, the development of communication technologies, such as real-time data on all-electric car charging stations for smart connection, would contribute to the expansion of the industry. However, the increasing number of electric vehicles may affect the functionality of charging stations, such as the quantity of electricity generated, the transformer's load level, and the load curve.

The government provides automobile manufacturers with tax exemptions, rebates, subsidies, and quotas. Government subsidized rates for the purchase of electric vehicles have a significant impact on consumer purchasing decisions. These reasons have enhanced global EV sales and production. The increasing number of electric vehicles necessitates charging facilities and established power grids to ensure their proper operation.

Consequently, these factors are contributed to the market's growth throughout the forecasted period. In addition, stringent government automobile emission rules have spurred customers to adopt EVs, which will contribute to the market growth of electric vehicle charging stations in the next years.

Key Insights

• As per the analysis shared by our analyst team, the global electric vehicle charging station market is estimated to grow annually at a CAGR of around 14% over the forecast period (2022-2030).
• In terms of revenue, the global electric vehicle charging station market size was valued at around USD 15.36 Billion in 2021 and is projected to reach USD 43.87 Billion, by 2030. Due to increasing consumption of alcohol and tobacco charging methods, the market is predicted to rise at a significant rate of 14%
• Based on the charging type, the slow & fast charging was predicted to show maximum market share in the year 2021
• Based on charging method, the battery exchange segment was the leading revenue-generating type in 2021
• Based on the station type, the public were projected to show largest share in 2021
• On the basis of mounting, the pole mounted segment was dominating the market share in 2021
• On the basis of region, North America were the leading revenue generator in 2021

COVID-19 Impact

The COVID-19 pandemic severely impacted the electric vehicle market resulting effect over EV Charging Station market. Many OEM and supplier manufacturers have stopped production due to COVID-19. Indicators include the halt in Chinese auto parts exports, massive industrial disruptions in Europe, and U.S. assembly plant shutdowns. The pandemic also affected R&D and implementation of innovative electric vehicle technologies. The electric car charging system market is expected to develop owing to rising immunization rates and electric vehicle demand.

The automotive sector experienced a decline in sales during COVID-19. Post Covid-19, in 2020, the automobile industry was confronted with a new, unprecedented crisis due to the COVID-19 pandemic, which followed a dismal year for the automotive sector in 2019 that saw a major reduction of around 5% in global auto output and halted a 10-year increasing trend.

During the first half of fiscal year 2020, global sales of electric vehicles were much lower than during the same period in 2019. The notable exception was Europe, where sales of electric vehicles were significantly greater due to established policy assistance programs. In the second half of the year 2020, when lockdowns were temporarily lifted and the automotive industry began to revive, the global market patterns were markedly different.

Monthly sales of electric cars in 2019 have exceeded those between July and December in every major market, including China, India, the European Union, Korea, the United States, and the United Kingdom. However, Canada, Japan, and other nations experienced a fall in revenue as both the demand for new vehicles and their production were severely hit.

Rising EV Sales to Increase Demand for Electric Charging Stations

Increasing electric vehicle acceptance and usage has increased the requirement for charging infrastructure development. Leading electric vehicle markets, such as China, the United States, and Germany, are spending heavily in electric charging infrastructure and research & development for rapid and efficient charging techniques.

OEMs are expected to make substantial expenditures to meet the expanding demand for EVs and play a significant role in the market's evolution. Tesla, Ford, Volkswagen, Nissan, General Motors, and BMW and have substantial R&D spending towards the creation of electric vehicles.

Despite the influence of COVID-19 on the market, EV sales increased by 41% in 2020 to about 3 million units, while the entire vehicle market declined by 6%. This points to an increase in the demand for electric vehicles, which will stimulate the market for EV charging stations. With increasing global EV sales, the demand for EV charging stations will grow significantly.

Rising Government Initiatives Leading to Rise in Adoption of Electric Vehicle

The governments of several nations are supporting the adoption of electric vehicles in order to meet fuel consumption limits and minimize greenhouse gas emissions. In August of 2018, for instance, the Japanese government created a strategy for electric vehicles to improve cooperation and transition within the automobile industry.

In addition, it has launched the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles II initiative (FAME). Accordingly, incentives will be offered to encourage the local production of electric vehicles. Consequently, such government measures are anticipated to fuel the expansion of the electric car and electric vehicle charging system markets.

Huge Initial Set-up Cost for Fast Chargers May Hamper Growth

The high initial cost of level 3 and ultra-fast chargers is the largest hindrance to this market's expansion. Typically, consumers charge their fossil fuel automobiles in 5-7 minutes, whereas level 1 and level 2 chargers require 6 to 16 hours to fully charge. Consequently, there is a market demand for rapid chargers capable of recharging EVs in under 30 minutes.

However, starting costs for a level 3 charging station might be rather high. This can be a deterrent for those who may desire to move to EVs, as lengthy charging times may interfere with the already hectic schedules of the majority of users.

Government Funding for Developing Charging Stations to Propel Demand

Numerous governments finance up to 80% of the overall cost of installing charging infrastructure. In addition to partnering with oil and gas firms in the planning and development of charging stations, the governments of a number of nations have helped establish the EV industry. The government wants to establish charging stations every 100 kilometers along the national highway, propelling the growth of the Electric Vehicle Charging Stations Market over the forecast period.

Electric Vehicle Charging Station Market: Segmentation Analysis

Based on charging type, the global market is segmented into slow & fast charging and rapid charging. The slow & fast charging dominating the market share owing to charger's capacity to charge vehicles in a short amount of time within the anticipated period. In addition, its capacity to safeguard automobile batteries when charging will foster market expansion.

Based on station type, the global market segments are private and public. The public segment is dominating the market share owing to the increasing sales of electric vehicles among the globe. This is not limited to only owners of electric vehicles instead whole public can use public charger. Consequently, OEMs and several utilities are focusing on developing public charging stations. Thus, the substantial advantages afforded by public type over private type fuel the market expansion.

Recent Development

August 2022- BYD and the Antelope Valley Schools Transportation Agency (AVSTA) announced a plan to provide 20 battery-electric school buses to the students in Antelope Valley, USA to operate an entire fleet of school buses with zero emissions.

April 2022- bp pulse is the first EV charging provider in the UK to receive certification to the BSI Kitemark for Electric Vehicle Charging, establishing a new industry standard for safety and quality. The BSI Kitemark assists consumers in making more informed purchasing decisions by offering assurance and confidence through accreditation.

February 2022- Siemens has collaborated with Nexii Building Solutions EV charging structure concept developed for electrifying fleets and high demand charging applications at scale with rapid construction of a dependable and sustainable charging infrastructure.

October 2021- TVS Motor Company and Tata Power signed an MOU to collaborate on the electric two-wheeler charging infrastructure in India to promote the installation of Electric Vehicle Charging Infrastructure (EVCI) throughout India and to deploy solar power technology at TVS Motor facilities.

July 2021- BYD has launched 3 EV models: BYD ATTO 3, BYD DOLPHIN, and BYD SEAL in Japan. This will increase the use of electric vehicle charging station in the country.

Regional Landscape

Europe is Dominating the Market Share in terms of Revenue

Europe is dominating the market share of the global electric vehicle charging station market owing to increasing stringency of government regulations on vehicle emissions, the rapid adoption of new technologies, and the high cost of product innovation. Around 76% of the electric charging stations in Europe are concentrated in just four countries: Germany, UK, France, and the Netherlands.

For instance, Volkswagen Group stated in June 2019 its intention to deploy 36 thousand electric vehicle charge stations across Europe by 2025. For instance, bp pulse invested £1 billion in UK for 10 years for electric charge infrastructure to expand fleet services and launch new home charge digital products.

Competitive Landscape

BYD Motors Inc., Tata Power Company Ltd, Schneider Electric, bp pulse, Webasto, Siemens, EVBox, Eaton, ABB, Shell International B.V., ChargePoint, Inc., Tesla, amongst others.

The global Electric Vehicle Charging Station market is segmented as follows:

By Charging Type

• Slow & Fast Charging
• Rapid Charging

By Charging Method

• Battery Exchange
• Wireless Charging
• Conductive Charging

By Station Type

• Private
• Public
• By Mounting
• Wall mounted
• Pole mounted

By Region

• • North America
  • The U.S.
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Reunion
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America